Basics of FX Carry: Part 1 of 3

Basics of FX Carry: Part 1 of 3

Carrying the Sails of Global Asset Allocation FX carry is the enduring financial anomaly. Eugene Fama described its success as “startling” in his seminal 1984 paper (Forward and Spot Exchange Rates). Theoretically, FX carry should not work. Empirically, it does. It is...