Table 2.

Size of the U.S. Bond Market and the Fed’s Quantitative Easing Program.

	Amount	Date	Source
	(USD bil)
Corporate bond market outstanding	9,566.4	as of December 31, 2019	SIFMA
Corporate bond issues	1,423.2	in year 2019	SIFMA
Size of the QE program announced	750.0	as of March 23, 2020	FRB
Balance for ETFs	8.8	as of December 31, 2020	FRB
Balance for individual bonds	5.5	as of December 31, 2020	FRB

Size of the QE program announced is the sum of the purchase in the primary market (PMCCF) and the secondary market (SMCCF). Balance for ETFs and individual bonds is the outstanding values of securities purchased under SMCCF as of December 31, 2020.