No one has any good answers but it seems carry is being unwound in a hurry as US momos are hammered. Whether Draghi's move shocked EURJPY riders enough to spark some major anxiety is unclear but Japanese stocks are now down over 400 points from early highs, US equities at their lows, and USDJPY blown back below 98.00. which is odd considering that so many went short last week... (full story)