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Today's Pick

The Yen Carry Trade: A Ticking Time Bomb

by Felix-Antoine Vezina-Poirier, Chief Strategist  

Our EM strategists see a poor risk-reward profile for the yen carry trade, though timing its reversal remains challenging. They argue that once the yen begins to appreciate, the move is likely to prove outsized given the scale of the existing carry trade. The…

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