T+1 Settlement: How Stock Trades Now Clear in One Day
T+1 settlement means US stock trades settle one business day after execution. Here’s the mechanics, timeline, and what changed for investors.
Market Education
Learn how stocks, bonds and capital markets work. Explore plain-English explanations, worked examples and charts, then follow related coverage to connect market concepts with current events. Find your way around ECMSource.
What Is the P/E Ratio – and When Does It Mislead?
The price-to-earnings ratio is the most-quoted valuation metric on Wall Street. Here’s the formula, trailing vs forward, and when it breaks.
Options Explained: Calls, Puts, Strikes & Expiry Basics
Beginner-friendly guide to stock options: how calls, puts, strike price, expiry, and premium actually work, with worked examples and payoff diagrams.
Leveraged ETFs Explained: Daily Reset and Volatility Drag
How TQQQ, SQQQ, and other daily-reset ETFs really work — the compounding math, when they overshoot, and when volatility eats them alive.
Credit Ratings Explained: How Moody’s, S&P, and Fitch Grade Debt
Credit ratings are opinions on default risk from SEC-designated agencies. What the scales mean, why the BBB-/Baa3 line moves markets.
Bond Duration and Convexity Explained: How Prices Move
Duration tells you how much a bond’s price will move for a 1% change in yields. Convexity refines the estimate for big moves. Here’s how both actually work.
Bond ETFs vs Individual Bonds: What Actually Differs
Bond ETFs and individual bonds behave differently in ways most investors miss. Here is what changes for duration, income, tax, and what happens when rates rise.
SOFR Explained: How the Post-LIBOR Benchmark Actually Works
SOFR replaced LIBOR as the reference for trillions in dollar debt. Here is how it is calculated, what moves it, and why September 2019 still matters.
Repo and Reverse Repo Explained: The Plumbing of Rates
How the US repo market really works: repo vs reverse repo, SOFR, the Fed’s RRP floor and SRF ceiling, and what broke in September 2019.
Fed Funds Futures Explained: How Markets Price Rate Cuts
Fed funds futures let traders bet on the path of the overnight rate. Here is how the contract works, and how CME FedWatch turns prices into cut probabilities.