Posts tagged 'Andrew Lapthorne'

“Cheating season” is upon us

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How do company execs trouser QE cash?

Follow the money.

A central bank buys government debt. Prior holders of said debt are forced to invest elsewhere. Some are drawn to the corporate bond market, where a similar process repeats itself: corporate bond yields fall, offering cheap financing to companies, who issue fresh debt and end up holding at least a portion of QE cash. Read more