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What you get

The stress index and what moved it, in two sentences.
Every signal that changed status overnight, and why.
The numbers worth knowing: spreads, recession odds, BDC discounts, tender updates.
Three things to watch today. Then you’re done.

Latest issue

Stress index 52 (Elevated, down 3): 2 of 6 layers flashing · Oct 26, 2026

2 of 6 layers are flashing: weakest borrowers and funds. The chain reaction isn’t complete yet: collateral isn’t flashing.

Past issues

Sent	Subject
Oct 26, 2026	Stress index 52 (Elevated, down 3): 2 of 6 layers flashing
Oct 25, 2026	Stress index 55 (Elevated): 2 of 6 layers flashing