Taper no grounds for tantrum to stock bulls wielding US$28bil

Research from UBS Group AG says that should the Federal Reserve turn off the spigot on its annual US$1.4 trillion (RM5.8 trillion) in quantitative-easing spending, the hit to the S&P 500 Index would be a 3% decline in prices.

WASHINGTON: The thought of central bank policy makers easing off their campaign to liquefy bond markets has hung like a sword over equity investors for years.

At least at the earnings level, there may be less reason for anguish than is usually recognised.