The five questions from Saturday, August 22, 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.
1 Central bankers and economists gathered in the Teton mountains this week for the Kansas City Fed's annual late-August symposium, a gathering traders comb for policy signals. Name the sparsely populated US state that hosts it.
Answer: WYOMING(7 letters)
2 Three weeks after the July 28-29 FOMC gathering, the Fed released the detailed written account of who argued what, including the dissenters' reasoning. What is this regularly published record of a policy meeting called?
Answer: MINUTES(7 letters)
3 This Minneapolis-based big-box chain with a red bullseye logo posted second-quarter results in the mid-August retail reporting run, a closely watched read on US discretionary spending. Name the retailer.
Answer: TARGET(6 letters)
4 In bond mathematics, this second-order measure captures the curvature of the price-yield relationship: how a bond's own interest-rate sensitivity changes as yields move, explaining why prices rise more on a rate fall than they drop on an equal rate rise.
Answer: CONVEXITY(9 letters)
The curvature in a bond's price-yield relationship - how much its duration itself changes as yields move.
5 As second-quarter reporting wraps up in late August, investors care less about the quarter just closed than about management's own forecast for revenue and profit ahead; trimming it can sink a stock that beat estimates. What is this forward outlook called?
Answer: GUIDANCE(8 letters)
A company's own forecast of its future results, issued alongside reported figures.