This Might Be the Biggest Problem With the ECB's Plan to Buy Corporate Debt

It could cause the exact opposite effect.
Photographer: Daniel Roland/AFP via Getty Images

Front-running central bank government debt purchases have become a fledgling tradition in a world awash with unconventional monetary policy, with Jefferies LLC's Chief Market Strategist David Zervos describing the practice as traders taking "a rich asset and [making] it stupid rich."

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