Last month we looked at the dollar carry trade (see "The short, awful life of the dollar carry trade"), a concept designed to raise some eyebrows. We are supposed to associate carry trades first and foremost with the Japanese yen (see "A closer look at the carry trade," June 2007), and then with the Swiss franc (CHF). As we have yet to explore the Swiss franc carry trade, let’s open up the error account and toss it onto the pile.