Yen Carry Trade

Is it the end of free money? Since the 1990s, the Bank of Japan has fueled global risk appetite by letting traders borrow yen near zero cost to chase higher yields abroad. Over $1 trillion flowed into U.S. bonds, equities and other assets. But now, the central bank is cutting off the flow and has been aggressively hiking rates for the past two years, forcing operators to unwind their positions. Are markets strong enough to absorb the pressure?