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A weekly financial newsletter

The city hasn't woken up.

the Market does.

Every week I find the one thing the financial press missed

The premise

Mainstream media covers events. We cover what leads them.

Fed decisions, earnings calls, S&P price targets. By the time they're news, the move has already happened. The clues were in the credit markets. In the stress fractures of private lending. In the insider selling pattern that nobody connected.

The Market Anomaly reads the BIS reports. The BDC earnings transcripts. The cross-border capital flow data. The stuff the pros read that the public doesn't see, then tells you what it means in plain language, a week before it becomes a headline.

Still reading yesterday's news?

The Market Anomaly lands every week

Latest Anomalies

The money that won't come home

1 day ago

The money that won't come home

Japan's bonds now pay more than a hedged Treasury. The biggest foreign owner of US debt still hasn't moved. Yet.

Half of Korea is one chip

2 days ago

Half of Korea is one chip

Exports jumped 83.5% on memory prices. Meanwhile, the phones those chips go into are headed for a record drop.

The brochure said guaranteed

3 days ago

The brochure said guaranteed

America's best annuity rate comes from a B- insurer. Behind the promise: $1.2 trillion of private credit, and an island.

The ship couldn't get through

5 days ago

The ship couldn't get through

The cruise got a bus. The diesel, the coal and the chemicals didn't. Europe's busiest river just went below zero.

The tariff was illegal. The refund isn't yours.

1 week ago

The tariff was illegal. The refund isn't yours.

$166 billion is flowing back with 6% interest. Some of it is going to hedge funds that bought the claims for 20 cents.

The stock jumped 9%. The bond fell.

1 week ago

The stock jumped 9%. The bond fell.

The biggest private bond deal in history, rated A+, hit a record low on the same day Meta had its best stock rally in a year.

Cognex Buys What Intel Nearly Closed

1 week ago

Cognex Buys What Intel Nearly Closed

Eleven years inside Intel. Fourteen months outside it. Ten times the money.

The gauge said Korea was safe

1 week ago

The gauge said Korea was safe

Margin loans were 0.6% of the market. Then the KOSPI fell 39% in under six weeks. Now the borrowing is back.

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Stop reading the news a day too late.

Independent. Anomaly-first. Weekly.

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No part of this publication constitutes financial advice.