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Fed releases details of corporate bonds purchased

The Federal Reserve has disclosed that $207 million in corporate debt purchased on the first day of an emergency lending programme is 21% noncyclical consumer debt, 15% cyclical consumer debt and 10% technology debt and 3.6% subinvestment-grade debt. The Fed has based purchases on an index of nearly 800 issuers, with a goal of sustaining market liquidity.

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