The “dash for trash” is on, as the near-record low yields available on safe assets has prompted investment professionals to move further out of the risk spectrum in a desperate bid to earn nominal returns that satisfy client needs.

It’s likely the euro zone economy contracted again at the end of last year, although data yesterday suggested the worst may be over. Surveys conducted by financial information firm Markit and the Institute for Supply Management showed US manufacturing grew in January, boosted by a surge in domestic demand and helping to lift markets across the globe.

Asian shares advanced amid optimism over the global growth outlook, but bold easing measures from the Bank of Japan (BOJ) failed to lift Tokyo equities and the yen rebounded from a brief sell-off as investors digested the central bank's actions.

It’s likely the euro zone economy contracted again at the end of last year, although data yesterday suggested the worst may be over. Surveys conducted by financial information firm Markit and the Institute for Supply Management showed US manufacturing grew in January, boosted by a surge in domestic demand and helping to lift markets across the globe.