JPM designs emerging market FX carry index
JP Morgan's new carry trade index is similar to its existing IncomeFX index, which covers seven G-10 currencies. "Similar to IncomeFX, it's an index that targets carry, but it includes substantial modifications to cater to the specific nature of emerging markets," said Tim Owens, London-based global head of currency and commodity solutions at the bank.
The index, called IncomeEM, is intended to deal with the higher volatility of emerging market currencies. It keeps track of interest rates, along
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