Sorry, you need to enable JavaScript to visit this website.
Skip to main content
Skip to main content

Download Report

Please complete form to access this report
Carry trade impact

The unwind of yen carry trades caused a global market sell-off. Now that the yen is stabilizing, investors are breathing a sigh of relief; they are buying stocks and selling bonds once again. This move is misplaced. The blowup of yen carry trades will have a lasting negative impact on global liquidity conditions. This shock to global liquidity will crystalize the risks to growth, which we have been highlighting for some months.