QE

Japan could be the next economy to default as its debt levels are unsustainable, according to Roger Webb, investment director on the credit team at Scottish Widows Investment Partnership (SWIP).

The US economy added 175,000 jobs in May, beating analyst expectations, although the unemployment rate ticked up in what was dubbed the most important jobs release in years.

Leading bond managers have said the US Federal Reserve could start winding down its QE programme as soon as this summer, with treasury yields jumping as a result.

Wall Street extended losses on Wednesday as fears deepened that the Federal Reserve will pull back its quantitative easing programme.

ASIA

EQUITIES

Geoff Hitchin, manager of the Marlborough Global Bond fund, looks at how investors can protect their portfolios against any further weakening of the pound.

Carney cure

QE

Japan's benchmark index has broken through the 15,000 barrier for the first time since 2008 as investors continue to cheer policymakers' efforts to weaken the yen.