Different moves describe different exposures
A ten-basis-point yield rise, a 1% currency move and a weekly oil price change describe different exposures. These boards separate those comparisons and rank the largest absolute changes among the selected instruments SOTW tracks. Their dates can differ; the newest observation is not a common closing time for every row. For the full boards see markets; for what's due next, the release calendar.
Yield changes are not bond returns
If a yield moves from 4.20% to 4.30%, it rises 0.10 percentage points, or 10 basis points. Its relative increase is approximately 2.38%, but that is not the number normally used to compare yield moves. It is also not a 2.38% return on a bond. A bond's price response depends on its cash flows and duration; an increase in yield generally reduces the price of an existing fixed-rate bond.
The Treasury curve supplies par-yield reference measures at selected maturities. SOFR and CORRA measure overnight funding in different currencies and markets. A similar basis-point move does not make them interchangeable financing costs. Treasury interest-rate statistics, New York Fed SOFR definition and Bank of Canada CORRA definition.
A rising EUR quote means a weaker counterpart currency
Every FX quote uses the euro as its base. In an illustrative example, EUR/KRW rising from 1,500 to 1,515 is a 1% increase in won per euro. A euro buys more won, so the won weakened against the euro. The opposite quotation, euros per won, falls by approximately 0.99%, because reciprocal percentage changes are not exactly symmetric.
That direction matters for a business with euro-denominated revenue and won-denominated costs. It would read the exposure differently from a business with the currencies reversed. The sign indicates the movement in the displayed quote; it is not an assessment of whether the move benefits every business. ECB reference rates are informational values, and the ECB discourages their use for transactions. ECB reference-rate conventions.
A weekly oil average answers a different timing question
EIA computes weekly spot-price averages from daily closing prices. A weekly average can increase even if the last day's price falls, because the comparison summarizes two periods. This is why oil has its own board rather than competing with daily FX changes for a “biggest move today” headline. EIA weekly prices and averaging notes.
For a procurement brief, align the price measure with the contract's reference period and location. WTI and Brent are crude benchmarks; they do not directly measure a local fuel invoice, refining margin, freight surcharge or a company's hedged cost. The board can flag a change worth investigating, but it cannot attribute the cause from price data alone.
Scope and calculation
The rate board selects US Treasury 2-, 5-, 10- and 30-year yields, Canadian 2- and 10-year yields, SOFR, effective fed funds and CORRA. The currency board selects available ECB euro quotes. The oil board selects WTI and Brent weekly averages. This is a defined sample, not a ranking of every traded asset, stock or annual economic indicator.
Rate change = (latest rate − comparison rate) × 100 basis points. Price or FX change = (latest value − comparison value) ÷ |comparison value| × 100. Missing or zero comparison values do not produce a percentage. Rows are ranked by absolute change within each board, with at most eight displayed; the sign remains visible. Rate and oil comparisons use finite observations in a 30-day retrieval window. FX uses the stored latest quote and its importer-calculated change.
A reference date identifies the observation, not when SOTW retrieved it or when the publisher released it. These values do not establish an intraday price, a common market close or a record of news surprises. Source-specific reuse terms apply. For a reproducible report, keep both comparison observations, units, series IDs and retrieval time. Explore the full market boards and API documentation for the underlying context.