According to Odaily Planet Daily, JPMorgan said that three-quarters of the world's carry trades have been closed, and the recent decline has wiped out this year's gains. Quantitative strategists Antonin Delair, Meera Chandan and Kunj Padh pointed out in a letter to clients that the returns of the G-10, emerging market and global carry trade baskets tracked by the bank have fallen by about 10% since May. The decline wiped out the returns so far this year and significantly cut the profits accumulated since the end of 2022. The spot part of the global carry trade basket shows that 75% of the carry trades have been closed, the team wrote. They reiterated that there is not much time left for the G-10 carry trade. Strategists said that the chances of a rebound in August may be small, during which the central bank's schedule is relatively light and volatility has begun to cool.