1 Following geopolitical instability and supply concerns, Brent crude surged sharply, reminding markets of sensitivity to disruptions in which global resource?
Answer: OIL (3 letters)
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Guess Macro — Thursday, March 19, 2026
The five questions from Thursday, March 19, 2026, with their answers. This puzzle is no longer playable; today's game is on the home page, and the last seven days can still be played in the practice archive.
2 Recent stress in commercial real estate has been concentrated in office properties, particularly in major urban centers what sector is under pressure?
Answer: OFFICE (6 letters)
3 The growing adoption of blockchain-based settlement systems by financial institutions is aimed at reducing friction in what post-trade process?
Answer: CLEARING (8 letters)
The process between a trade being agreed and settled, in which obligations are confirmed, netted and guaranteed - usually by a central counterparty standing between buyer and seller.
4 When central banks shrink their balance sheets by letting securities roll off without reinvestment, reducing system liquidity, what is this process called?
Answer: TIGHTENING (10 letters)
Central bank policy that restrains activity - raising rates or shrinking the balance sheet - usually to bring inflation down.
5 A derivatives desk hedges second-order sensitivity to volatility changes rather than price or delta, what Greek are they managing?
Answer: GAMMA (5 letters)
The rate at which an option's delta changes as the underlying price moves - the second derivative of option value with respect to price.