The U.S. government has purchased millions of dollars in corporate bonds issued by entertainment giants like Fox Corp., Comcast, AT&T and others as part of a debt liquidity program spurred on by the novel coronavirus pandemic.
The Fed began buying electronically traded funds focused on corporate debt in May, but just began buying individual bonds on June 16. On June 16 and over the following few days the Fed purchased more than $16 million in debt from WarnerMedia owner AT&T, more than $13 million in debt issued by NBCUniversal owner Comcast, $4.5 million in debt issued by Fox Corp., $5.7 million in debt issued by Microsoft and $1.5 million in debt issued by ActivisionBlizzard.
The Fed’s goal with the facility is to buy holdings that are representative of the overall corporate debt market, and it has created a bond index to determine what debt it will buy. Per the index, the central bank will buy debt from The Walt Disney Co., Discovery Inc., ViacomCBS, Amazon, Alphabet and others over the coming months.
How much did Mnuchin get......man o man
And there are folks getting ready to default on rent payments and face eviction as the moratorium on eviction ends.
LISTEN DONALD DUMP, I DONT CARE ABOUT MONEY LOSING ITS VALUE RIGHT NOW, PEOPLE ARE HURTING STOP BORROWING MONEY AND START PRINTING. I MEAN YOU ARE THE commander and chief RIGHT
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