Market Directions November 02, 2008 The demise of the carry trade and its associated components is without parallel in the history of modern currency trading. But the extraordinary rise and fall of the carry did not take place in the isolation of the currency markets. It was part of the worldwide search for trading profits fueled by cheap credit, leverage and the ability to flash money around the world in an electronic instant. The same factors that propelled the carry higher and then wrote its collapse drove the commodity markets, the mortgage industry and equities to success and distraction. Instead of looking at ... (full story)