Former US Treasury Secretary Larry Summers has withdrawn his candidacy to succeed Ben Bernanke as head of the US central bank, the Federal Reserve.
Guy Monson, CIO of Sarasin & Partners, has outlined a number of key risks which could impact rising global equity markets as we head into 2014, amid the well-flagged move by the US central bank to wind down QE.
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.
Federal Reserve officials are united in their support for tapering bond purchases but split on the precise date of the move, according to the minutes of its latest rate setting meeting.
The continued rise in US treasury yields has raised concerns the broader economic recovery may be under threat if the sell-off continues.
US consumer inflation increased in July, hitting the Federal Reserve's 2% target rate and keeping it on track to taper bond purchases as early as next month.