Fed finger on the taper trigger

August's jobs print is the only new consideration between now and mid-September as the Fed makes its next decision on quantitative easing. And investors are getting nervous.

The growing use of the word ‘tapering’ in economic circles is the reason stocks and bonds reacted the way they have overnight.

On Wall Street, the S&P 500 index fell almost 1.5 per cent as investors fretted that the word is about to become more than just talk, while the 10-year US bond rose around 7 basis points.

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