Conviction trades face funding risks – BNY
BNY’s EMEA Macro Strategist Geoff Yu notes that FX risk appetite and carry trades have stayed resilient despite weaker global equities, with investors adding to overheld high-yielders such as MXN, BRL and PLN, and some low-yielding Asia-Pacific currencies. G10 Dollar-bloc currencies like AUD, CAD and NZD are being used as funding, but potential tightening pivots there pose a key…









