How ECB's Bond Buying Impacts Fixed-Income

The transcript discusses the European Central Bank's (ECB) corporate debt program, its impact on European credit markets, and the potential benefits and challenges of buying in primary and secondary markets. It explores the transmission mechanism's role in affecting yields and investment, and evaluates the effectiveness of ECB's initiatives in stabilizing inflation expectations and reducing borrowing costs. The discussion highlights the challenges faced by small and medium businesses in accessing credit and the diminishing effectiveness of ECB interventions.

In what ways might the ECB's initiatives influence small businesses in peripheral countries?

What challenges are identified regarding the effectiveness of the ECB's programs in stimulating growth?