Stocks Climb With Bonds After Fed Surprise as Metals Gain

“It’s taper off, risk on,” said Keith Poore, head of investment strategy at AMP Capital Investors Ltd. in Wellington, which manages about $130 billion. “You want to hold on to your risk positions if you have them at the moment.”

Fed Outlook

Fed Chairman Ben S. Bernanke said there is no fixed schedule for tapering, which could still start this year should data confirm the central bank’s “basic outlook.” Economists had forecast the FOMC would dial down monthly Treasury purchases to $40 billion from $45 billion and keep buying of mortgage-backed securities at $40 billion, according the median of estimates compiled by Bloomberg.

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