Subscriber's Comment - Massive unwind of carry trades, short-term oversold conditions, sell rallies, UK outperforms

Pain From Yen Carry Trade Is Unlikely to See a 2008 Repeat - This note from Bloomberg may be of interest.

As painful as the unwinding of the yen carry trade is, it’s unlikely to trigger the same systemic risk as was during the Great Financial crisis. One key difference is that the foreign banks’ borrowing in yen has collapsed since 2008. By that indicat…