Dispatches

The daily letter on US money market plumbing, written by the terminal from the same free public data the board runs on. Every claim carries the number it stands on, and the misses stay published next to the hits.

2026-07-12 · EROSION

Erosion with a loud tell: plumbing leads price at +37

The composite reads 45, regime EROSION. The Tell reads +37. Every number below is checkable on the board.

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2026-07-09 · STRAIN

The plumbing has a fat tail

The board reads STRAIN. VIX at 16, credit spreads near their tightest on record. The pipes and the price screens disagree — and extreme value theory says the disagreement has no ceiling.

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Written by the terminal from the live board, no model in the loop; every number is checkable on the free board. Seiche is free open source software (AGPL-3.0, source). Plain English guide · Support · Not investment advice.