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We read interest rates and credit markets and tell you when to pause or resume hiring, spending and fundraising. Updated every Monday, with an email the day a line is crossed.

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PresetsSet the ratesCompared with this weekWhat you'd stop and start
PlanRunway plannerScenariosSaaS multiples

SunnyHistorical snapshot • Data as of Jun 30, 2021

Scenarios

Move two sliders to see what the guidance would be in a different week.

Checked Oct 9, 2026, 6:29 PM UTC

  • Presets
  • Set the rates
  • Compared with this week
  • What you'd stop and start

Presets

Four preset scenarios. Each sets the short-term borrowing rate and the recession warning gauge (10-year minus 2-year rate).

Set the rates

Not this week's data
0.05%(0% vs this week)
0.00% (zero rates)2.50% (neutral)5.00% (tight)8.00% (extreme)
1.20%(0% vs this week)
-1.50% (deeply inverted)0.00% (flat)+1.00% (normal)+2.50% (steep)
ConditionsFunding pressure 0 · Risk appetite 88

Funding pressure above 70 and risk appetite below 50: Freezing. Above 70 and above 50: Cloudy. Below 70 and below 50: Stormy. Below 70 and above 50: Sunny.

Funding pressure 0 vs risk appetite 88 (sunny)FreezingCloudyStormySunnyFunding pressure change line at 70Risk appetite change line at 507050Simulated reading: Funding pressure 0, Risk appetite 88 (sunny)Risk appetite →Funding pressure ↑
Higher means pricey money, further right means willing investors. Sunny, bottom right, is the easiest; Freezing, top left, the hardest.

This week vs. this scenario

Conditions

Sunny→Sunny

Same conditions as this week

Funding pressure 0 pts vs this weekhigher is worse0 of 100 · 66 pts below the resume line
667076

Resume 66Change line 70Pause 76

This week: 0

Risk appetite 0 pts vs this weekhigher is better88 of 100 · 34 pts above the resume line
445054

Pause 44Change line 50Resume 54

This week: 88

What you'd stop and start in this scenario

Guidance in this scenario

"Land grab."

Tone: Low rates, investors eager · Money is cheap and investors want growth. Moving fast is worth some waste.

What to stop in this scenario

  • Over-building before demand shows up
  • Cost cuts that choke product velocity
  • Hiring so slowly you miss the window

What to start in this scenario

  • Referrals and easy ways to share
  • Free tiers or longer trials that are easy to start
  • Small, fast product bets next to what already works
  • New regions, one at a time, where demand is clear

Rules by area in this scenario

AreaAction nowPause if
HiringApprove roles tied to revenue or reliability one at a time, and hold everything elseFunding pressure rises above 76 or risk appetite falls below 44
SpendingBefore you approve any optional spend, work out how long it takes to pay backFunding pressure rises above 76
FundraisingIf a raise is in your plan, run the process now rather than waitingRisk appetite falls below 44 or funding pressure rises above 76
RoadmapShip the product bets that move activation or retention firstRisk appetite falls below 44 or two weekly readings in a row come in weaker
New betsFund each new bet one stage at a time, and write down what would stop itRisk appetite falls below 44 or funding pressure rises above 76