Thursday, Aug 16, 2007
The Yen carry trade starts to "implode"
The Times: Markets plunge around the world
"The sudden demise of the yen-carry trade, said dealers, is massively exacerbating the prevailing turmoil on global markets. The panic-stricken flight from equity risk, said one Nomura broker, is producing dangerous chaos on currency markets."
Dum de dum de dum - looks like chanting "but it's different this time" may not actually have been able to change basic economics
Posted by jeremiah @ 08:30 AM (144 views) Add Comment
1 Comment
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1. Symo said...
"Yes you very nice Mr British banker but I need my money back now. Errr no still trusting you Mr British bank but wife needs new....er....karaoke machine, yes thats it so give me my Yen."
Look no-one at the Japanese banks are daft, they have realised that it's time not to be lending money to a load of City wide boys for gambling. They are not going to speculate on the size of the hole in the sub prime mortgages.