Former US Treasury Secretary Larry Summers has withdrawn his candidacy to succeed Ben Bernanke as head of the US central bank, the Federal Reserve.
Bank of America Merrill Lynch has named its top ten trades for this autumn as investors prepare for a tapering of QE in the US and a possible jump in interest rates.
Gold has climbed above the $1,400 mark for the first time since June, re-entering a bull market as disappointing US data and worries over Syria push investors into safe havens.
Emerging market currencies hit fresh lows after minutes from the latest Federal Reserve meeting made the prospect of tapering this year all but a certainty.
The increasing likelihood of former US treasury secretary Larry Summers becoming Fed chairman next year has prompted a further spike in bond yields, analysts suggest.