The Ballad of the Yen Carry Unwind
Yo ho ho and a leveraged bet,
The carry trade's unwinding yet!
We sailed the seas of zero rates,
Now BOJ seals our fated fates!
Heave ho, watch the Nikkei fall!
Big Tech scalers lose it all!
Amazon, Google, Meta too,
Our puts will print when we're through!
We borrowed yen at nothing flat,
And bought the NASDAQ, fancy that!
But Ueda-san raised rates this week,
Now margin calls make traders shriek!
Heave ho, watch the Nikkei fall!
Big Tech scalers lose it all!
The algorithms start to sell,
Ring that volatility bell!
The hyperscalers walked the plank,
Their market caps just sank and sank!
Forced unwinds across the sea,
Our put options sailing free!
So raise your glass of rum tonight,
The yen's gone strong, our timing's right!
We pillaged tech with bearish glee,
Yo ho ho, the puts print free!
Heave ho, the carry trade's done!
BOJ has spoiled their fun!
From Tokyo to Silicon Valley's shore,
We're pirates rich forevermore!