Blood On The European Streets As EUR-Yuan Carry Unwinds Crush Stocks

Wednesday, August 12, 2015
By Paul Martin

by Tyler Durden

EURCNH was among the most popular carry trades – a stable long leg and central bank sponsored weakness in the sell leg. That is why, now that The PBOC has peed in the punchbowl, all that easy money carry has been forced to unwind as volatility forces traders to buy EUR and sell CNH en masse, shuttering the carry-funded trades as they go. No where is that more clearly visible than the plunge in European stocks.

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