daily market briefing. We send this to your inbox every morning before the open.

This Week

Three Punches. $7. 11 Minutes.Apr 2
Oil Below $100. Gold Above $4,700.Apr 1
The Mechanical BidMar 31
Asia Crashed. America Shrugged.Mar 30
The Tweet Is More Likely Than the PeaceMar 29
The April Coin FlipMar 28
The Fire Was Already BurningMar 27
The GapMar 26
Gold Is the TellMar 25
Headline vs Fine PrintMar 25
Bits to AtomsMar 24
2Y Auction DayMar 24
Paper Market vs Physical RealityMar 23
Why We Were WrongMar 23
The 48-Hour ClockMar 22

Early War

The Great UnwindMar 1
The Hormuz PremiumMar 4
War Premium Has an ExitMar 6
No Puts on the WorldMar 8
Tanker WarMar 8

Research Series

The PlumbingMar 14
The CanaryMar 14
The AlibiMar 14
The HostageMar 14
The Ceasefire TradeMar 15
The Escape ValvesMar 17
The Six KingdomsMar 17
Inversion TheoryMar 13
The Bond Market Is ScreamingMar 20

Where It Started

Musical ChairsFeb 27 — the day before the war

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