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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (74768)12/4/2006 3:52:49 PM
From: Perspective  Read Replies (1) of 110194
 
<In 1998, the yen strengthened from nearly yen130 to yen 110 to the dollar in just two days after Russia's default on panic unwinding of carry trade bets. Such a fall today could set off mass defaults, given the much larger scale of derivative contracts.>

Holy cow! Is that true? I wasn't paying that much attention to currencies back then, just stocks. If so, that's an amazing statistic. And it would argue that we are in a really, really precarious position thanks to the carry trade.

BC
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