Why a Tapered European Central Bank Stimulus Is Good for Banking Stocks

The European Central Bank's decision on Thursday to taper its bond stimulus program is positive news for the banking sector, according to one analyst. "I certainly think it's fairly positive for the banks," says Michael Hewson, chief market analyst at CMC Markets, "I think what banks want more than anything at the moment is a steeper yield curve. I would actually argue that this is a slight dab of the breaks by the ECB in the face of a rising inflationary outlook." TheStreet's Scott Gamm reports from Wall Street.