fascinating post courtesy of wolfstreet.com
unrated
unrated
Under Draghi’s tutelage the ECB has morphed into the world’s biggest bad bank with over €4.23 trillion in “assets,” including:
- Toxic Greek sovereign debt
- Dubious other periphery sovereign debt
- 242 junk-rated or non-rated corporate bonds
- 149 negative-yielding bonds. The main reason those bonds bear negative yields is Draghi’s massive multi-year bond buying binge.
It’s difficult to know which companies are benefiting the most. The ECB has refused to reveal details, divulging only the International Securities Identification Number (ISIN) of the bonds, but not the amounts.
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