Carry trade implosion
Financials rollover...
Weak economic data is a boon to Wall Street, except it implodes banks and carry trades, both of which are counting on higher U.S. interest rates. Both of which led the recent rally...
"LONDON (Reuters) - The dollar fell against the yen on Monday after the head of the Bank of Japan disappointed investors who had expected a clear signal that monetary policy would be eased further this month."
USDJPY rallies have been a funding source for the S&P...
Global Financials had been strong-ish into the Friday jobless report...
U.S. Banks:
Royal Bank of Canada
