While you were sleeping Stocks, bonds drop on Fed

Wed, 19 Jun 2013

By Margreet Dietz June 20 (BusinessDesk) - Wall Street declined, as did US Treasuries, after Federal Reserve Chairman Ben Bernanke said the central bank may begin tapering its US$85 billion-a-month bond-buying program later this year if the economy strengthens in line with its expectations. Bernanke, who spoke at a press conference after a scheduled two-day meeting of the Federal Open Market Committee, also said the Fed might end the bond-buying program by mid-2014. "The Committee sees the downside risks to the outlook for the economy and th...

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