We model why markets move.

Myriad Labs is a private research house and a global leader in analytical innovation, with models built on causal relationships in the market: the conditions in force, the participants they act on, the channels they travel through, and the positioning that decides how far a move goes.

Read a sample edition Institutional enquiries

Free · every trading morning

The Five Lines: what moves today and the mechanism behind it, before the open. See the latest.

1,400+US equities, ETFs and futures in the model

150+declared market conditions, each with a stated mechanism

Pre-openfutures, after-hours flow and options read every trading morning

Scoredevery edition reviews how the one before it held up

How we model markets

Price is the last thing to move. We study what moves it.

Most market commentary describes what happened. Our models trace the chain that made it happen, and show where that chain is pointing now.

Conditions

Macro releases, rates, liquidity, policy and company events, read as conditions that are either in force or not. Each one is declared in advance with the mechanism it works through.

Transmission

How a condition reaches prices: which participants act on it, through which channel, and how fast. A rate shock does not hit every sector on the same day or by the same route.

Positioning

Dealer gamma, short interest, options flow and fund allocation decide whether a move is absorbed or amplified. The same news lands differently on a crowded book.

Accountability

Every reading carries its source and its age. Every edition reviews how the last one held up, including what we got wrong.

Two ways to work with us

Institutional-grade analysis, for institutions and for individual investors.

Daily subscription

Prime Market Brief

For self-directed investors, active traders, financial advisers and small shops.

The output of our institutional models, distilled into one brief published every trading morning before the open.

What moves today: the macro conditions in force and what changed overnight
Before the open: futures, after-hours and pre-market flow
What options are pricing for the day, and the levels dealers are positioned around
Treasury yields, scheduled releases and the week ahead
Positioning: short interest, unusual options activity, dealer gamma
Sector flow, breadth and dispersion, volatility
Company events since yesterday, with their sources

Start your 7-day free trial Read a sample edition Sign in $29 a month on its own, or $44 a month with the Spreads Report and the Crypto Brief in Prime All Access

Weekly subscription

Prime Spreads Report

For readers who want the relationships between markets, not just the day.

Twenty-nine spreads across rates, credit, equity structure and cross-asset markets, each with the mechanism that links its legs, a year of history, the week's change, and which leg moved. Published every Sunday evening.

Rates: the curve, breakevens, the market against the policy rate, mortgage and funding spreads, the basis trade
Credit: high yield against investment grade, and against equity volatility
Equity structure: concentration, small against large, growth against value, high beta against quality, banks, semiconductors
Cross-asset: gold against real yields, copper against gold, oil against the dollar, US against the world, stock-bond correlation, implied against realised

Start your 7-day free trial Read a sample edition $19 a month on its own, or $44 a month with the morning brief in Prime All Access. Editions to 1 November are open to every Prime Market Brief subscriber

Daily subscription · New

Prime Crypto Brief

For crypto traders who want to know who is holding the position, not just where price is.

Crypto read as two markets and one chain, every trading morning before the New York open. It separates fund money that wants bitcoin from money earning a spread, and shows which outside markets are reaching crypto.

Who is holding: spot fund creations, the CME premium and what the carry trade pays after financing, CFTC positioning
Leverage: perpetual funding against the exchange baseline, open interest and premium on Binance and Hyperliquid
Options: implied volatility, the move priced into IBIT options, skew, and the strikes holding size
Outside channels: the risk ladder from Treasuries to bitcoin, bitcoin's link to growth stocks, chips, gold and the dollar, stablecoin supply, and miners that now trade with chips

Start your 7-day free trial Read a sample edition $44 a month in Prime All Access. Editions to 1 November are open to every Prime Market Brief subscriber

By arrangement

Market Intelligence Suite

For funds, asset managers, family offices, banks and trading firms.

Direct access to the models behind the brief, scoped to your book and delivered the way your team works.

The full condition and transmission model across asset classes
Positioning and dealer-flow analytics by name, sector and index
Volatility surfaces, relative value and calendar structure
Scenario runs: how a named shock would travel through your holdings
Custom coverage, research on request, and data delivery to your systems

Talk to us Scope and pricing are agreed with each client.

The analysis institutions pay for should not stop at the institution.

Large desks have long had research that explains the mechanics of a market day: who is positioned where, which conditions are in force, what a release will hit first. Individual investors and small firms have mostly had headlines and charts.

Prime Market Brief closes that gap. It is written from the same models we build for institutional work, for readers who manage their own decisions.

What the brief is not

It is not investment advice, and it does not tell you what to buy or sell.
It does not forecast prices. It describes mechanisms and measurements.