Consensus Say Fed Taper Likely In December Or January

BAML has conducted another institutional survey for an updated look at when market players believe the U.S. Federal Reserve will taper its level of open market operations.

The current track has been $40 billion worth of mortgage-backed securities purchases per month and $45 billion worth of longer-term Treasury securities purchases per month.

Overwhelmingly, those surveyed think that the initial tapering of these purchases will occur in either December or January.