Today marks the start of the Bank of England’s corporate bond purchases with reverses auctions to be held in the energy, industrial, transport, property and financial sectors. The purchases will continue over tomorrow in the communications, consumer cyclical and non-cyclical sectors and in the electricity and gas sectors on Friday. Yesterday saw the release of the ECB’s latest Corporate Sector Purchase Programme holdings which marked the fourth largest week since the programme was launched in June. Three of these top four weeks have actually occurred over this month alone which suggests that the ECB is utilising the ... (full story)