US

The former chief executive of collapsed brokerage firm MF Global has been charged with misappropriating about £1bn of client money.

The US economy grew far less than expected in the first quarter of 2012, the latest data has revealed, potentially putting pressure on the Federal Reserve to keep stimulus measures in place for longer.

Bill Gross, the manager of the world's largest bond fund, has told investors selling treasuries they could be left disappointed if they overestimate the speed with which the Fed will wrap up QE.

Markets across the globe tumbled overnight after the US Federal Reserve announced it may slow down asset purchases by the end of the year.

US markets followed shares across Europe higher overnight, while the dollar also surged, ahead of the latest Federal Reserve meeting in the States which may map out a QE exit strategy.

SPECIAL REPORT

The era of easy money may continue for another two years despite US Federal Reserve chairman Ben Bernanke's 'bombshell' announcement last month, according to Fidelity's Ian Spreadbury.

A sign that the great sell-off in bonds could be imminent was seen this week after yields on Treasury Inflation Protected Securities (Tips) turned positive.

Wall Street rallied at the start of the session today after non-farm payroll numbers from the US beat expectations.

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.