Blog | Lesson of the credit-market rally: don’t fight the Fed

Global credit markets rode a resurgence in risk appetite in April, bolstered by Fed and ECB plans to extend asset-buying programs to include lower-grade debt. But credit challenges remain.

Following the extreme stress in March, corporate credit markets rode a resurgence in risk appetite in April amid unprecedented central-bank support – in particular Fed and European Central bank plans to extend QE programs to lower-grade debt – and the start of a gradual easing of lockdowns in many countries.

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