Market plumbing
Explore the structures, institutions and financing arrangements that explain why markets sometimes behave differently from familiar economic models.

Perimeter Reading / Markets
Financial Times Alphaville editorial team
An inquisitive Financial Times publication exploring market plumbing, economic claims, corporate finance and unusual data, with a free website and an email edition.
Subscriptions are managed by the publisher. Saving to your Desk keeps this profile in your research library.
The publication
Alphaville works well as a companion to conventional financial news. The website mixes analytical posts with charts and reading links, offering several ways into a difficult question. Its email edition adds a route for following the publication without checking the homepage constantly. Use it when you want to inspect how an argument was assembled: what the data measures, what a financial structure permits and where a popular explanation may be leaving something out of account.
Readers comfortable with financial terminology who enjoy inspecting data, following specialist arguments and exploring the less obvious workings of markets and economic statistics.
Inside the reading
Explore the structures, institutions and financing arrangements that explain why markets sometimes behave differently from familiar economic models.
Read charts and economic statistics with attention to definitions, measurement choices and the conclusions those choices can support.
Use the publication’s reading selections to discover research, reporting and perspectives outside your usual financial news routine.
The Desk’s reading note
Start with the further-reading links when you need breadth, and save one analytical post for a slower second pass.
Keep a question, an idea to investigate, or a source to return to in your saved notes.
Add another perspective
NewsletterMatt Levine explores Wall Street and finance through the incentives, contracts and unusual situations behind the headlines, with room for curiosity and humor.
Best for Readers who already follow business headlines and want to understand the contracts, incentives and financial mechanics that make particular stories surprising or consequential.
NewsletterJohn Authers uses charts and commentary to explore global markets and investing, offering a framework for readers who want to examine financial narratives carefully.
Best for Investors and market observers who learn through charts and want an experienced commentator’s perspective to help them formulate and challenge their own financial interpretations.
NewsletterA free premarket newsletter linking macroeconomic themes to individual stocks, with charts, technical context and data on what traders are doing on Robinhood.
Best for Active market followers who want macro themes connected to individual stocks and an additional view of retail trading behavior before the market opens.