Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Term Auction Facility
The Term Auction Facility was a Federal Reserve lending programme created during the 2007 to 2009 financial crisis. Instead of requiring banks to request ordinary discount-window loans individually, the Fed auctioned a fixed amount of funding for set periods. Eligible institutions submitted bids, and the loans were backed by collateral. The facility was intended to provide funding when banks were unwilling or unable to borrow normally in stressed markets. It is now a historical programme, not a standing source of current credit. The final auction took place on 8 March 2010, and all loans under the programme were repaid with interest.
Term Spread
The term spread compares interest rates on similar debt with different times to maturity. A commonly watched version subtracts the 2-year US Treasury yield from the 10-year yield. If the 10-year yields 4.5% and the 2-year yields 4%, the spread is 0.5 percentage points. Longer-term yields are normally higher because investors commit their money for more time. When short-term yields rise above long-term yields, the spread becomes negative and the yield curve is said to be inverted. Different analysts may use different maturity pairs, so “the term spread” is incomplete unless the two rates are identified.
Terminal Rate
During an interest-rate increase cycle, markets try to estimate where the central bank will stop. That expected highest policy rate is called the terminal rate. If rates are currently 4% and investors expect two more increases to 4.5%, they may describe 4.5% as the expected terminal rate. The figure is not permanent, and it is not always announced as one fixed target. New inflation, wage, growth, or employment data can change expectations before the central bank reaches it. Once the peak is reached, rates may stay there for a time before cuts begin. The terminal rate describes the top of a particular cycle, not the highest rate possible in history.
Thai Baht (THB)
The baht is Thailand’s official currency and carries the international code THB. One baht is divided into 100 satang. Prices in shops are normally written with the baht symbol ฿, while banks and trading systems use THB to prevent confusion. Coins for small satang amounts exist, although many everyday prices are rounded to whole baht. Thailand previously used weights of silver as money, which is why “baht” is also a traditional unit of weight, especially in the local gold trade. A quoted gold price per baht therefore refers to a weight measure, not one baht of currency.
The Flippening
The Flippening is the name given to a possible future moment when Ethereum’s total market value becomes larger than Bitcoin’s. Market value, or market capitalisation, is calculated by multiplying a cryptoasset’s price by the number of units counted as circulating. The comparison is not about one ether becoming more expensive than one bitcoin. Ethereum could overtake Bitcoin in total value while each ETH still has a much lower price. The term began as a crypto-community idea and is often used when Ethereum gains ground in market share or activity. It is a hypothetical milestone, not a scheduled event or technical signal.
Theta Decay
An option loses something valuable as the calendar moves forward: time. Theta estimates how much of the option’s value may disappear each day if other factors remain unchanged. An option with theta of -0.05 may lose about $0.05 per share over one day from time decay alone. The effect usually becomes faster as expiry approaches, particularly for options close to the current market price. Theta works against option buyers but can benefit sellers who collect the option premium. Real prices will not follow theta exactly because the underlying asset, expected volatility, and interest rates may also move at the same time.
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