The Effect of the US Government’s Intervention in the Corporate-Bond Market

Juan Sampieri and Andy Sparks

On March 23, the Fed and U.S. Treasury announced the Primary and Secondary Market Corporate Credit Facilities (PMCCF and SMCCF), designed to stabilize the corporate-bond and loan markets amid the COVID-19 crisis. What effect did this intervention have?

Source: MSCI. Learn more about our Fixed Income Indexes.