Japan

Japan's Nikkei 225 index has closed above 14,600, a fresh-five year high, as the yen dropped to a four-year low against the dollar.

REDWOOD

EQUITIES

GLOBAL POLICY

The International Monetary Fund(IMF) has warned strong capital inflows into Asia have increased the risks from rapid credit growth and rising asset prices.

Jim Leaviss, head of retail fixed income at M&G, has removed his short position on the yen in his £688m Global Macro Bond fund following the dramatic sell-off in the Japanese currency.

Bond managers have added to risk assets, while shorts on the yen hit a five-year high after the Bank of Japan (BoJ) announced radical monetary easing measures.

CONTRARIAN

FIXED INCOME

Chris Bailey, head of direct global investment at Close Brothers Asset Management, urges investors to look again at Japan as a guide to investing closer to home.