Phoebe is built around a single thesis: in markets, the gap isn't data — it's understanding. The data is everywhere. The framework to read it isn't. Most readers know the words — high-yield spreads tightened, breadth narrowed, the curve flattened — without the system that makes them mean something. Professional-grade research platforms assume you already have it and price accordingly. Cable news compresses everything into entertainment. Opinion-driven newsletters lean on the author's voice over the data. The middle — teaching readers to read what markets are actually pricing, plainly and without commentary or politics — is thin.
That's the gap Phoebe fills. Most coverage tells you what happened. Phoebe teaches you how to read what happened — how rates, credit, volatility, and breadth confirm or contradict one another, so next time you can read it yourself.
Three editorial outputs:
Market Internals — a structural read of market state as of the equity close: credit, breadth, volatility, positioning, dealer flow. Each weekday it translates the day's signals into plain English and teaches how the layers confirm or diverge from one another — the regime read, backed by the data behind it. Refreshed every weekday.
Weekly Read — how markets handled last week's news cycle, and what to watch in the week ahead. A story-driven recap that teaches the patterns behind the moves, plus an objective look-ahead at upstream signals and the data calendar. Published Sunday afternoons.
Report Breakdowns — event-driven analysis of economic releases (NFP, CPI, PPI, PCE, FOMC, retail sales, GDP). Three sections, every time: what's real, what's noise, what it means — built to teach which number actually matters, and why. No directional calls. No opinion markers. Just what the data says.
Two reference tools — where to go deeper when the daily read references a concept you want to understand from the ground up:
Yields — reference page covering today's full par yield curve, the 90-day path of the 2-Year and 10-Year against the Fed Funds Rate, a 50-year chart of the 2-10 spread with NBER recession bands shaded behind it, the breakeven inflation rates, and SOFR against the current Fed funds target range. A visual anchor for where bond markets price growth, inflation, and Fed policy. Refreshed weekday afternoons after the close.
Credit — reference page covering the cost of corporate borrowing, in recent and historical context. Today's same-day tape for the LQD and HYG credit ETFs, the 90-day path of Investment-Grade and High-Yield yields against the 10-Year Treasury baseline with their option-adjusted spreads, and a 19-year chart of LQD and HYG prices with six major credit-market stress events labeled. A visual anchor for how the bond market prices default risk. Refreshed weekday afternoons.
Methodology: the system behind these outputs is proprietary. Available on request.