Three-quarters of the global carry trade has now been removed, with a recent selloff erasing this year's gains.
The carry strategy... has been wobbling for months. Carry trades were pummeled over the past week...
The recent selloff has been double the usual pace in a carry drawdown... volatility already started to cool off.
The global carry trade strategy is 'not offering an attractive risk-reward,'... is not a sufficient compensation for holding EM high betas through US elections.
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