NY Fed says it will begin to sell corporate bond holdings on July 12

July 8 (Reuters) - The Federal Reserve will begin to sell its corporate bond holdings on July 12, entering the next phase of unwinding the portfolio of corporate bond investments acquired during the pandemic, the New York Fed said on Thursday.

The sales of corporate bonds held in the Secondary Market Corporate Credit Facility will be "gradual and orderly," taking liquidity conditions into account and aiming to minimize the potential for disruptions in the market, the New York Fed said in a statement.

The Fed began to offload its portfolio of exchange-traded funds that invest in corporate bonds on June 7. (Reporting by Jonnelle Marte)

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