Fed Helped Bond Market Stabilize: Penn Mutual Analyst
April 8, 2020 by Allison Bell
Some fans of letting markets work things out are skeptical of the Federal Reserve Board’s new interventions in U.S. asset markets.
Mark Heppenstall, an investment analyst with the asset management arm of The Penn Mutual Life Insurance Co., says the Fed’s decision to start buying investment-grade corporate bonds has clearly helped stabilize the market for corporate bonds.
Heppenstall, the chief investment officer at PennMutual Asset Management, talks about the Fed’s new corporate bond purchase program in a commentary posted Thursday.
Life insurers hold trillions of dollars in corporate bonds in their investment portfolios.
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