The great bond buyback

The Bank of England's purchase of investment grade sterling corporate bonds started on March 25, almost two months after the announcement of the plan - an element of the Asset Purchase Facility (APF) and part of the Bank's broader quantitative easing strategy to stimulate the economy - and a few weeks after the first successful reverse auction for government bonds.Even before the Bank took the first corporate bonds onto its books, the market reacted positively, with spreads moving significan