The Fed’s Corporate Bond-Buying Has Been Relatively Small And Positively Useless

Don’t fight the Fed.  I remember hearing the legendary Wall Street guru Marty Zweig say this, and I was even fortunate to meet him and hear it in person.  The equity markets have taken this to heart with the breathtaking rally from the Covid-19 lows of March 23rd.  Jerome Powell and Steven Mnuchin, Federal Reserve Chair...