About

The Overnight Rate is a free weekday morning briefing on where money moved: who pays, who gets paid, and what it costs you. We cover rates, credit, mortgages, markets, corporate money and AI money. Each issue gives you The Read, a set of gauges, three moves worth knowing and, where a market prices it, the odds on what comes next. The live rates pages track the numbers between issues.

It's written for people who want the numbers before the opinions, and in a few minutes over coffee.

The desk

The Overnight Rate is produced by a small editorial desk. We publish under the desk's name because every issue goes through the same process: research, writing, a fact check of every number against its source, and an edit before anything goes live. Software helps us gather data and check it; editors decide what runs.

Sourcing policy

• Primary sources first. Rates and economic data come from the agency that publishes them: the Federal Reserve, the U.S. Treasury, the Bureau of Labor Statistics, the Energy Information Administration, Freddie Mac and FRED. Company figures come from filings and company releases.
• Every number is checked before it's published, and every number carries its source and the date it describes.
• Prediction-market odds are quoted from the named venue (for example Kalshi or Polymarket) at the time stated. Odds show what traders are paying at that moment; we report them as data.
• News reporting is credited to the outlet that reported it, with a link where one is available.
• Stale data is labeled. If a source hasn't updated, the page says so and shows the date of the last good reading.

Editorial standards

• Just the facts. We cover policy for what it does to rates, prices and markets. We don't endorse parties, candidates or positions.
• No clickbait. Headlines say what the story says.
• Independence. Advertisers and partners don't choose or review coverage. Any paid or affiliate link is labeled where it appears; see our disclosure.
• Corrections. When we get something wrong, we fix it on the page and note what changed. Corrections can be sent through the contact page.

Follow along

New issues land every weekday morning. Read them on the site, follow @overnightrate on X, or sign up for email.