TechFlow news, according to Reuters, the Federal Reserve Bank of New York announced on Thursday that the Federal Reserve Board (FED) will begin gradually reducing its portfolio of exchange-traded funds (ETFs) invested in corporate bonds starting June 7, marking the first step in unwinding holdings of corporate bonds purchased during the pandemic. The Fed will begin selling its corporate bond holdings later this summer and will provide further details prior to initiating sales. According to Fed data, as of April 30, the facility had $13.8 billion in outstanding loans, including approximately $8.6 billion in corporate bond ETF positions and $5.2 billion in corporate bonds.
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