The Japanese Yen Against the Dollar - Is That a Good Carry Case?

Andtres: As any late cycle trade, insurance policy trades you're looking at, they all carry negative. So that's the other thing to factor in when you look at the trade. I'm getting increasingly scared of a rally in the japanese yen against the dollar and would rather reflect that view by a more concrete, short posision on the uro versus the dollar. And gold is the other thing which i think has held up remarkably, way too remarkably good in this environment. Ven powell told us that heis going to want to see real rates positive across the board, across the curve in the us. But to put front and real rates above zero in the us

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