Events Calendar

 

What will be discussed:

• Review of this weeks Fed data release on the details of the program
• What does this mean for the fixed income market
• What does this say about the liquidity profile of fixed income ETFs
• Where do we expect the Fed to go from here

Featured Speakers:

• Brad Kotler - Vice President, SPDR ETF Sales Execution & Institutional Strategy
• Mark Ramunno - Vice President, SPDR Regional Consultant for Great Lakes

When: Thursday, July 9^th at 11am EST or Tuesday, July 14^th at 10am EST

Webcast Link:  https://statestreet.webex.com/meet/michael_ward

Join by Phone: +1-210-795-1110

Access Code: 593 778 931 #

Please RSVP to Mark Ramunno (Mark_Ramunno@ssga.com) or Mike Ward (Michael_Ward@ssga.com) with which Webcast date you would like to join and we will send you a calendar invite.

• As of 6/24, $8.742B is the total Fed ownership of a combination of corporate fixed income ETFs and corporate bonds (we know the Fed began buying bonds on 6/16, and the holdings release doesn’t specify security type). 
• $1.701B bought from June 17, through June 23 represents 5 days of buying or $340.2MM/day.
• This is an uptick from last week’s pace of $308.4MM a day, which was expected given the continued volatility.  This is the heaviest buying pace we have seen since May 12, the start of the program.
• The average buying pace over the life of the program has been $291.4mm/day, and the Fed has demonstrated that they buy at a slower pace in docile markets, and at a faster pace in more volatile markets.