The world's events, priced in US markets
Coordinated trading inflated free float data until MSCI noticed. Now Indonesia faces exclusion from the emerging market index. Here is the mechanism behind the rout.
Ministers refused to pose for a photo with Russia's foreign minister in Atlanta. That snub signals how Russian crude sanctions enforcement is really unwinding.
The BOJ doubled its ETF sale pace the same quarter Japan locked in a costly tax cut. Here is the mechanism linking central bank profit to fiscal policy.
High-yield spreads just hit a 17-month high and a major credit hedge fund lost 21% in October. Here is the mechanism connecting the two, and what it is not telling you yet.
San Diego's exit from a shared muni bond vehicle over SEC oversight concerns exposes a structural gap in how municipal governance risk actually gets priced.
Australia just hiked rates to a 15 year high while growth slows. The mechanism behind that combination says more about global markets than about Canberra.
A Bolsonaro adviser just ruled out privatizing Petrobras. The number that actually moves the stock has nothing to do with ownership structure.
United posted record revenue and still slashed its profit outlook. The mechanism is not the oil price everyone quotes, it is a spread most hedges never touch.
Cboe just opened single-stock options trading before the bell. The real story isn't access, it's what happens to the gap risk priced into every overnight option.
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Explainers from Insuring the Stock Market. How options are priced, margined and hedged, with every figure computed rather than written.
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