Fed adds Apple, Walt Disney and other bonds to credit portfolio

Fed adds Apple, Walt Disney and other bonds to credit portfolio

The U.S. Federal Reserve added US$1.33 billion in bonds of individual companies from June 22 to June 30, its latest disclosure shows, with investments in the bonds of firms including Apple Inc., Walt Disney Co. and Ford Motor Co.

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo

REUTERS: The U.S. Federal Reserve added US$1.33 billion in bonds of individual companies from June 22 to June 30, its latest disclosure shows, with investments in the bonds of firms including Apple Inc., Walt Disney Co. and Ford Motor Co.

The bond purchases come on top of US$428 million bonds bought by the Fed in the first few days of the corporate bond-buying program, launched June 18. The facility is part of a raft of new programs set up to nurse the economy through the coronavirus pandemic.

(Reporting by Ann Saphir; Editing by Chizu Nomiyama)

Source: Reuters

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