Japan’s historic rate hike prompts yen carry trade unwinding, impacts global markets

Quick Take The Federal Reserve recently maintained the federal funds rates at 5.25-5.50%. However, a continuation of poor US data, including weak US jobs data, has triggered the Sahm Rule, signaling a potential recession. Consequently, the market anticipates roughly 50 basis points (bps) of rate cuts in the upcoming September meeting, which is 44 days away. Polymarket indicates a […] source: https://cryptoslate.com/insights/japans-historic-rate-hike-prompts-yen-carry-trade-unwinding-impacts-global-markets/