NEW YORK -- The most likely 2014 investment scenario? A “tapered world” with modest equity market returns, according to Ricardo Santamaria, investment strategist for the Mark. T. Curtis Group of Morgan Stanley/Graystone Consulting.

The Federal Reserve Board’s policy of gradually slowing, or tapering, its purchases of Treasuries and mortgage securities to keep interest rates low, will also likely lead to a moderate interest rate increase by year-end, said Santamaria, speaking here at IMCA’s 2014 Consultants Conference. In addition, Graystone expects stock prices in 2014 to be driven not so much by a bull market as by company-specific earnings and dividends.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access