国际清算银行：2024年8月市场动荡和套利交易解除报告（英文版）

Financial market volatility resurfaced in early August as the unwinding of leveraged trades in equity and currency markets amplified the initial reaction to a negative macro release in the United States. Markets then stabilised quickly, and volatility receded. • FX carry trades were hit hard by the deleveraging pressures. Their overall size is difficult to measure. Various estimates based on both on- and off-balance sheet activity yield a rough middle ballpark of ¥40 trillion ($250 billion) g