HOME
ABOUT
ARCHIVE
Logo
SUBSCRIBE
Logo

Archive

Companies are failing fast. Lending to them has never been cheaper.

1 day ago

Companies are failing fast. Lending to them has never been cheaper.

372 big bankruptcies in six months, the most since 2010. Yet the reward for owning junk debt is near a record low. Those two don't belong together.

The market looks calm. The stocks inside it are on fire.

2 days ago

The market looks calm. The stocks inside it are on fire.

One crowded trade is holding the whole index still. It's made billions — and it already broke once this year.

The safest loan in the world just started costing too much

6 days ago

The safest loan in the world just started costing too much

At year-end, the overnight repo rate punched through the Fed's ceiling. The cushion that used to prevent that is gone — and the Fed is buying Treasuries again.

The biggest buyer in the market isn't an investor. It's the company itself.

1 week ago

The biggest buyer in the market isn't an investor. It's the company itself.

Companies bought a record $1.02 trillion of their own stock. The insiders running them are selling four shares for every one they buy.

The safest market in the world is priced for zero risk. One name isn't.

1 week ago

The safest market in the world is priced for zero risk. One name isn't.

Oracle's default insurance just hit a record while the whole bond market yawns. We followed the money behind the AI buildout.

The Fed is Buying Treasuries Again

1 week ago

The Fed is Buying Treasuries Again

QT is over. And QE is quietly back, just under a different name.

One Trade Is Holding the VIX Down

2 weeks ago

One Trade Is Holding the VIX Down

Single-stock volatility is three times the index. Someone is selling the gap.

A $50 Billion Trade Fires Every Day Near the Close

2 weeks ago

A $50 Billion Trade Fires Every Day Near the Close

It buys high and sells low, on purpose, and it keeps growing.

The 12% Yield That's Really Return Of Capital

2 weeks ago

The 12% Yield That's Really Return Of Capital

A monthly check that shrinks what you started with.

Load more

Stop reading the news a day too late.

Independent. Anomaly-first. Weekly.

No part of this publication constitutes financial advice.