European Central Bank and Bloomberg

global markets: For a while it worked -- that was, until about a month ago when global markets began to go haywire and the euro, instead of falling as most every strategist surveyed by Bloomberg predicted, began to rally, according to Bloomberg. Investors who embraced the carry strategy have seen losses of 3.5 percent since March, according to a UBS Group AG index. Borrow in euros as the European Central Bank kept interest rates near zero and use the proceeds to invest in the economies where rates are higher, pocketing the difference and generating huge profits. It not working, Neil Jones, head of hedge-fund sales at Mizuho Bank Ltd. in London, said. For now, it on ice. This trade will become profitable again, but not quite yet. (news.financializer.com). As reported in the news.