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Schwab Network

U.S. Risk & Japan Stock Moves: Yen Carry Trade Recaptures Attention

7 min5 december 2025

The Yen Carry Trade is back in the spotlight. Charles Schwab's Michelle Gibley explains what the hawkish commentary from the Bank of Japan means for global equities. As Michelle points out, it formed a negative correlation between the yen and Japanese stocks. She explains how the trade impacts U.S. and other international markets.


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