Archive

Dispatch Morning Brief

July CPI landed exactly on consensus across every line. The curve rallied anyway, and the reason is not the print.

COMPUTE AS COLLATERAL

Half a trillion dollars of a new asset class, announced with no terms. And a distillate market that has doubled while nobody was looking.

Dispatch Sunday Set-up

One campus, six claims, and a guarantee that does not attach until the concrete cures.

The Dispatch Morning Brief

Dispatch Morning Brief

THE WRONG INSTRUMENT The desk hedged the tariff and bought the barrel.

The Dispatch -Morning Brief

The Unsentimental Bid — Who Funds the Furnace Next

The Dispatch - Morning Note

Day One Of The Defense

The Dispatch - Sunday Set-up

THE CURVE IS LYING