Simulator

Today’s challenge

• Tue 20 OctCPI dayA monthly inflation print: above, below or in line with expectations, unknown until it is released. Everyone gets the same tape and the same fills at each level, so scores compare directly.Start

Coming events

Practise each coming release on the market it moves. The outcome is simulated, and each event always gives the same tape.

• Tue 20 Oct07:00Tue 20 Oct · 07:00UK labour market (Jun–Aug)On 10-year giltsStart
• Wed 21 Oct07:00Wed 21 Oct · 07:00UK CPI inflation (September)On 10-year giltsStart

The week after

• Wed 28 OctAll dayWed 28 Oct · All dayFed decision (FOMC, 27–28 Oct)On 10-year TreasuriesStart
• Thu 29 OctAll dayThu 29 Oct · All dayUS PCE inflation (September)On 10-year TreasuriesStart
• Thu 29 Oct13:15Thu 29 Oct · 13:15ECB decisionOn 10-year BundsStart

Practice

US 10-year Treasuries. Each start draws a new tape from the template. The practice days built around a data print start at Medium.

• Grind dayNo data and no headlines: stay quoted, earn the spread on ordinary flow and keep inventory small.Start

Real days

• US CPI day, 10 Nov 2022US October CPI is due at 8:30am New York time (13:30 in London), with consensus at +7.9% y/y. You are making markets in the 10-year Treasury note through the release. An inflation surprise changes what the market expects from the Fed, and that moves this market within seconds.Start

Your results