The past several years in the US Treasury market have not been what you’d call smooth sailing. Three crises in a decade recently pushed regulators to introduce important changes to the world’s largest and most liquid market. The Securities and Exchange Commission passed the most significant reform a few months ago. The FT’s capital markets correspondent Kate Duguid examines that change — plus the potential pitfalls and promise that come with it.  Clips from CNBC, Bloomberg - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: The radical changes coming to the world’s biggest bond market Has Gensler’s SEC pushed Wall Street too far? SEC tussles with shadow trades in the US Treasury market Ransomware attack on ICBC disrupts trades in US Treasury market - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Kate Duguid (@kateduguid) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.  Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Penny stocks are having a moment. In recent months, little-known companies with names such as Bit Brother and Phunware have been among the most traded stocks in America’s public markets, surpassing companies like Tesla and popular exchange traded funds. The FT’s US markets editor Jennifer Hughes explores why this is happening, and whether retail investors should think twice before diving in. Clip from Paramount Movies Plus, a note on next week’s show: Look for Behind the Money in your feed a day early, on Tuesday, March 19.  We’re doing a special 2-part episode with the Unhedged podcast. One part will be in Unhedged’s feed and the other part will be right here, in Behind the Money’s feed.  We’ll be back to our regular Wednesday schedule the following week.  - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading: The tiny Chinese tea seller whose shares trade more than Tesla’s Stock markets undergo ‘risk reset’ as indices notch new records Retail investors are in no rush to join the latest stock market rally - - - - - - - - - - - - - - - - - - - - - - - - - -  On X, follow Jennifer Hughes (@jennhughes13) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.