The Financial Post reports in its Friday, Nov. 3, edition that Capital Group says now is a good time to buy equities after the Federal Reserve held rates on Nov. 1, signalling an end to its aggressive tightening cycle. A Bloomberg dispatch to the Post reports that global equities return more than 12 per cent on average in dollar terms over the 12 months that follow the final Fed hike in a cycle, based on Capital Group's analysis of the past four rounds. In contrast, global bonds yield about 6 per cent, while cash returns about 4 per cent. Capital Group portfolio manager Winnie Kwan says a record $5.6-trillion in cash is on the sidelines waiting to be invested. She adds that faster-growing dividend-paying companies have been "punished unduly" this year, citing the cohort as a potential investment bet. Capital Group's views contrast with Morgan Stanley's chief investment officer Michael Wilson, who recently warned against investing in U.S. equities amid narrow market breadth and fading consumer and business confidence. JPMorgan Chase & Co. analyst Marko Kolanovic says U.S. earnings estimates are divorced from risks posed by tightening financial conditions.