A hedge-fund trade blamed for a massive market blowup in 2024 has made a big comeback, Goldman Sachs says
THE SO WHAT
The carry trade roaring back after a 2024 blowup is a reminder that macro volatility can whipsaw capital costs faster than product cycles. Founders and operators should not anchor multi-year AI infra or hiring plans on today’s cheap money assumptions — hedge rate and FX exposure where it matters.
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