Nearly 19 percent of all corporate bond activity in the past two days is down to the European Central Bank's corporate bond-buying program, according to insights from market data provider Trax.
The ECB formally kicked off its corporate bond buying program on June 8th, a move heralded by President Mario Draghi in March. As part of its plan, the ECB will buy euro-denominated investment grade bonds issued by companies in the euro area.
Data from Trax released Friday showed that in the whole of 2015, corporate bond buying accounted for 12 percent of all corporate bond activity processed by Trax. This number went up to 14 percent in just the first half of 2016, the firm reported. The company processes approximately 65 percent of all fixed income transactions in Europe through its post-trade services.