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Japan Is Trying to Stop the Yen Carry Trade… It Won’t End Well
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Japan may have finally figured out why the yen keeps getting crushed. And no — it’s not because some hedge fund in New York borrowed a few billion yen and YOLO’d it into U.S. Treasuries. That’s the cartoon version of the carry trade. That’s the version financial media repeats because it sounds simple: borrow cheap yen, buy higher-yielding assets overseas, yen goes down. But that is not the real carry trade.
Eurodollar University's conversation w/Steve Van Metre…
The skinny
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