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JPM: Three-Quarters of Global Carry Trades Unwound
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Three-quarters of global carry trades have already been unwound, JPMorgan said. The returns on the G10, emerging markets, and global carry trade baskets tracked since May have dropped about 10%, which has erased the returns since the beginning of 2024 and significantly reduced the profits accumulated since late 2022. In the past week, carry trades increased sharply amid significant turbulence in global markets as the markets expected that the Fed might cut interest rates quickly and the Bank of Japan's interest rate hike might exceed forecasts. JPMorgan believed that the chances of a rebound in carry trades in August are slim. As there are fewer interest rate meetings by global central banks this month, volatility has begun to subside. In fact, global carry trade strategies have failed to provide attractive risk-reward. AAStocks Financial News |
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