The Fed needs to be careful with how it supports the bond market, says ETF issuer [CNBC]
VanEck Vectors Video Gaming and eSports ETF (ESPO)
Company Research
Source: CNBC
The FedThat's what one exchange-traded fund issuer told CNBC this week about central bank's unprecedented pledge to support the bond market by buying bond-based ETFs.The Federal Reserve's $2.3 trillionjunk bonds"They have to be super, super careful about how they tread in this ecosystem," Jan van Eck, CEO of Van Eck Associates and the VanEck Vectors ETF Trust, told CNBC's"."Calling the Fed an "elephant," van Eck suggested that the central bank could make waves in the bond market even without the purchase of bond-based ETFs."I think this is interesting, that the policymakers have said that ETFs are so important to the ecosystem that we want to get involved, because they didn't really get involved with ETFs in '08-'09," he said."Although ETFs are small [and] they don't trade as much relative to mutual funds, I think they are providing a ton of pricing information, a ton of information about liquidity," he added. "And almost, the Fed doesn't need to do any buying of ETFs because they can
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