BlueBay's Riley: Federal Reserve intervention is enough to keep credit markets open
US high yield buoyed by central bank action
David Riley of BlueBay Asset Management
The credibility of the Federal Reserve is such that the appearance of action from the US central bank alone was powerful enough to keep credit markets open during the pandemic-induced market downturn, according to BlueBay Asset Management's chief investment strategist David Riley.
"It speaks to the credibility of the Fed that so long as they have a tool in place and they have a stated aim, that it is powerful enough to ensure the capital and credit markets remained open during the...
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