Carry concerns

Foreign Exchange

A peculiar statistic appeared in a recent research note published by Credit Suisse. As of February 27, more than 12% of all news stories about the yen published since the start of the year made some mention of the yen carry trade, the bank claimed. That compares with less than 4% in 2006 and just under 2% in 2005. And it's not just the media: discussion of the yen carry trade is becoming ever more pervasive among analysts, investors and even regulators.

The essence of the trade itself is stra