Stocks Rise as Fed Tapers Without Tantrums, BoE Takes the Stage

Stocks Rise as Fed Tapers Without Tantrums, BoE Takes the Stage
A currency trader walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at a foreign exchange dealing room in Seoul, South Korea on Nov. 4, 2021. Lee Jin-man/AP Photo
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SYDNEY—Share markets firmed on Thursday after the U.S. Federal Reserve engineered an orderly start to unwinding its massive stimulus programme, though doubts about the inflation outlook did push up longer-dated bond yields.

“Remember that tapering is not tightening,” said Kerry Craig, global market strategist at J.P. Morgan Asset Management, noting the Fed’s balance sheet would still expand by around $400 billion over the next eight months.