An epic unwinding of the yen-funded carry trade that has reverberated through global markets is only about 50% done, a UBS analyst estimated on Tuesday...
NEW YORK - An epic unwinding of the yen-funded carry trade that has reverberated through global markets is only about 50% done, a UBS analyst estimated on Tuesday.
The strategy, which kept money flowing into global risk assets for years, was shaken after the Bank of Japan raised interest rates last week, forcing some investors to abandon the trade as the yen surged higher. The resulting unwind sparked huge losses in global stock markets and saw Japan’s Nikkei notch its worst day since 1987.
Malcolm calculates that about $200 billion of the carry trade has been unwound over the last two to three weeks. Stock Market Today: The Dow Jones bounced Tuesday after the stock market rout. Palantir stock and Uber surged on earnings.J.D. Vance wasted no time in going on the offensive as Kamala Harris named Minnesota Governor Tim Walz as her running mate for the 2024 presidential election race.Donald Trump’s number two claimed Harris’ decision to overlook another top contender Josh Shapiro, the governor of Pennsylvania, was evidence of “antisemitism” in the Democratic Party.
James Malcolm Bank Of Japan Carry Trade Interest Rates
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