‘There’s likely still trillions of leveraged dollars piled into the carry trade, and, as the saying goes, it may take a while for that goat to make its way through the boa.

And if the US markets tip into hard recession before the Fed acts?

We may see round two of the Carry Trade meltdown.’

https://www.jameslavish.com/p/the-ticking-yen-time-bomb?utm_campaign=post&triedRedirect=true