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분야
pptBasic Concept
2. Yen Carry Trade
3. Dollar Carry Trade
Conclusion
the carry of an asset refers either to the gain obtained or the cost incurred from holding the asset
Carry Trade
the practice of borrowing low-yielding currencies to fund investments in high-yielding currencies
An investor borrows funds denoted in a currency with a low interest rate, converts that currency into currency with a high interest rate, and then invest in an asset denoted in the currency with the high interest rate
The risk involved in the carry trade is the uncertainty of future exchange rates.
If the future spot exchange rate were to change, the amount of money that the investor would have to convert back to the low-yielding currency, in order to pay back the loan, would be altered.
Difference of speed
build-up is slow
Unwinding is fast
Procedure of unwinding
The unexpected shocks drop of security value the unwinding by force
