Carry in financial markets — which is associated with liquidity provision — is a financial manifestation of power. Central bank moral hazard-creating policies have supercharged carry to create a pattern of long expansions of carry trades interspersed with dramatic crashes; carry crashes.
Read the Book Preview by John Authers, Bloomberg: https://www.bloomberg.com/news/newsletters/2019-08-07/carry-on-like-nothing-really-matters-until-it-does-jz0q6fci?sref=kPZJFRPY
