Explainer
Markets
Follow financial markets through the mechanisms that move them. USA Standard covers US equities, bonds, interest rates, funds, capital markets, currencies and commodities, with reporting and explainers that focus on what moved and why.
Yields are quoted like prices but behave like the market's collective forecast. Here is what moves them, and why the ten-year matters to almost everything else.
Explainer
What an ETF Actually Is, and How It Keeps Its Price Honest
Exchange-traded funds trade like shares but are built like funds. The mechanism that keeps the two in line is the part most explanations skip.
Explainer
Market Capitalisation Explained, and What It Leaves Out
The most quoted number in equity markets is also one of the most misread. Market cap measures the equity, not the business.
