> $190 billion cash hoard
Can someone explain why are they accessing the bond market when they have one of the largest cash reserves in American corporate history?
Is it simply because it's so cheap - just 60 points above gov't bonds?
Can someone explain why are they accessing the bond market when they have one of the largest cash reserves in American corporate history?
Is it simply because it's so cheap - just 60 points above gov't bonds?
As I understand it, this is largely due to the Federal Reserve signalling their intent to act as a backstop to the bond market due to the impact of COVID-19.