The Yen BogeymanSo you think the sub-prime has caused havoc to the market? The yen carrying trade is now doing its part as well. Equities are now being hammered at both ends from New York to Tokyo.
The yen have shot up this morning like a rocket and panic buying to cover yen loans by those unwinding the carrying trade screwed markets world-wide even though Wall Street dropped less than 20 points.
The CI has dropped a massive 59 points at 2.45 pm It was a downright harrowing experience as panic hit the streets. Some stocks are down by almost 20%.
I do not believe any stocks can take this kind of punishment. When will the carnage end?
Heartsong
The yen have shot up this morning like a rocket and panic buying to cover yen loans by those unwinding the carrying trade screwed markets world-wide even though Wall Street dropped less than 20 points.
The CI has dropped a massive 59 points at 2.45 pm It was a downright harrowing experience as panic hit the streets. Some stocks are down by almost 20%.
I do not believe any stocks can take this kind of punishment. When will the carnage end?
Heartsong
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