Futures rose at the start of the overnight session Monday as investors looked to extend Wall Street's gains from Monday's dramatic comeback.
and signaled a broader approach to corporate bond buying that had remained a matter of speculation until Monday afternoon. The Fed indicated earlier in the spring that it would buy bonds on the primary market, but Monday's announcement expanded its operations into the secondary market.
"What appears to be new is the individual buying in the secondary market and what looks like, at least from the announcement, the potential for a wider variety of purchases," Evercore ISI strategist Dennis DeBusschere wrote in an email Monday afternoon.
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