Stock buyback zeal undimmed by looming Fed rate hike

New York

THE seemingly insatiable appetite of US companies for their own stock is unlikely to be satisfied soon, even if the Federal Reserve begins to raise benchmark interest rates and shares get pricier.

That would extend a pattern established in the last round of Fed tightening, according to a Reuters analysis of historical data. Many market analysts expect that higher borrowing costs won't derail the buyback boom that has been bolstering stocks.