
Fed Hires BlackRock to Help Calm Markets. Its ETF Business Wins Big - kamaraju
https://www.wsj.com/articles/fed-hires-blackrock-to-help-calm-markets-its-etf-business-wins-big-11600450267
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rokobobo
I don’t really understand how Blackrock “wins big” for their work with the
Fed. If I’m reading the article correctly, they’d be making 3 mil a year and
are giving fee rebates to the Fed for the shares bought by them. As for the
increased investor demand in the ETFs, sure, it’s nice to hold the very thing
the Fed is propping up, but that is also true for all investor-grade bonds and
some who have lost their investor-grade rating since the pandemic.

For all I care, the article could have been “Fed props up economy, retail
investors buy QQQ and its ETF manager wins big.”

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Bombthecat
And no one cares anymore....

