Since the geniuses at the Fed decided to start buying $HYG (probably because some senator was long), lets have some fun and look at some constituents that will benefit from this:
A is for Altice, the great French telecom operator with leverage that would make Blackstone cringe. Thank you Fed for doing the ECB& #39;s job!
B is for Bausch Health, the fine Canadian pharma company that, for those old of us to remember, is the company formerly known as Valeant Pharma!
Uber for treating its "employees" so well during this crisis! US taxpayer is funding their health insurance this way! oh wait...
PetSmart, for taking care of our pets! It& #39;s ok you are an LBO, we cool to fund you bro.
A High Yield index wouldn& #39;t be the same without an Italian Bank! Ciao from Intesa!
Maaaan, even Uncle Carl Icahn is getting help from the Fed!! He has 6, SIX, bonds in the $HYG ETF! Expect some more activism soon, funded by the US Taxpayer! Love it!