Carry-trade blow-up haunts markets

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The story "Carry-trade blow-up haunts markets" was covered 15 hours ago by The Star, a news publisher based in Malaysia.

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The Star 15h ago

Carry-trade blow-up haunts markets - The Star

Quick Summary:

BY now, last Monday’s global market meltdown looks more like a brief tremor, a fleeting panic unleashed by a small policy shift from the Bank of Japan (BoJ) and resurgent fears of a US recession.

The pressure had been building up for weeks as markets in carry-trade hot spots sputtered, the Nasdaq 100 Index slid off record highs and worries mounted that the Federal Reserve had kept monetary policy too tight for too long.

After the unwind hit Japan’s stock market on Aug 5, driving the Nikkei down 12%, BoJ deputy governor Shinichi Uchida stepped in to assure investors the central bank won’t be raising rates as long as market instability persists.