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January 29, 2008

Financial Markets
Dollar, funding currency for the global carry trade?

With the Fed now aggressively cutting US interest rates to keep the bursting of a real estate bubble from devastating the US financial system and economy, is the dollar about to turn into the yen- th…

March 15, 2007

Financial Markets
Just how big is the yen carry trade?

Stephen Jen of Morgan Stanley insists not-so-big.  Or at least that the large size of the carry trade cannot be proved – and that the impact of any recent unwinding has been overstated.   That is his…

February 4, 2007

Financial Markets
The mechanics of the carry trade, revealed … (sort of)

Andrew Rozanov of State Street knows a thing or two about how official institutions manage their money (that is a big part of his current job) and a thing or two about Japan (he was based in Tokyo fo…

March 21, 2007

Financial Markets
The dollar is no longer a high carry currency …

That at least is what the market seems to think.  The carry trade has bounced back. The Australian dollar -- a high carry currency -- is setting new highs (v. the US dollar at least).  The kiwi has r…

March 29, 2024

United States
Joseph Lieberman, R.I.P.

The late Sen. Joseph Lieberman was a model of how public life should be conducted, and an important figure in American Jewish history.

June 27, 2016

Puerto Rico Needs Tools to Help It Carry Out A Necessary Restructuring

Full disclosure: I worked on Puerto Rico while at the U.S. Treasury in 2015. All views here are my own. The Hill has published my column on PROMESA (the bill that sets out a framework for fiscal ove…