Wednesday, August 22, 2007

GOIH Capital MArkets: Yen weakening against the Dollar, Dow rallies

The Japanese Yen has weakened to 115.05/$ causing the Dow to rally 124 points up today. We entered into a carry trade where we borrowed $200 million in Yen at 114.63/$. Giving our Hypothetical Special Situation Fund an additional $200 million in capital to invest.