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Nadeem
Veteran Investor
Joined: 11 Jul 2004
Posts: 639
Cash Points ££ 13955.74
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 Posted: Mon Nov 27, 2006 9:02 pm Post subject: The carry trade could end as Japan looks to raiserates |
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As Japanese growth numbers for 2006 and 2007 have been revised higher to 2.5%. the Japanese central bank is increasingly looking to raise interest rates further from the current 0.25%, after spending many years at 0% (up from 0% in July 06). Interest rate forecasts suggest that rates could rise to as high as 2.5%, which could spell an end to the 'carry trade'.
What is the carry trade and why is it important ?
At its most simplest the carry trade is borrowing in Japanese yen at or near 0% interest rates and investing in assets in other currencies, including bonds, stocks, property that yield a much higher return. Since Japan has had low / even negative interest rates for a long time, this has encouraged many speculators / companies / financial institutions to take advantage of the 'carry trade', by effectively shorting the Yen. One example of the impact of the carry trade is in the 0% credit card deals, which have been thus far relatively easy to finance by the card issuers.
Full article http://www.marketoracle.co.uk/Article136.html |
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