it’s not over US fears. It’s because Japan is raising rates and the “carry trade” is effectively over.
Basically firms would borrow free Japan currency and leverage it into equities around the world. Well now its not free and nobody saw the policy change coming.
So, the selloff begins. And since people are selling to cover their currency trade, others are caught in the crossfire and see their book getting lit up, then they must sell positions to prevent margin calls.
It’s fascinating to watch.
it’s not over US fears. It’s because Japan is raising rates and...
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Last
20.5¢ |
Change
-0.005(2.38%) |
Mkt cap ! $71.73M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.0¢ | 19.5¢ | $323.1K | 1.612M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 324 | 20.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 52928 | 5 |
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