OKULEZ

The Board

The macro dials in one place, refreshed through the session. As of Sep 06, 20:22 UTC. Yields in percent, moves in basis points; everything else in percent on the day, with the five-session move beside it.

Today's read
The Fed chair put rate hikes on the table this morning. The front end repriced immediately and the long end barely moved: a bear flattener. The bond market is not afraid of a Fed that acts; it is afraid of one that only talks.
Bear flattener: the 5-year moved +4.1 bp and the 30-year +0.3 bp on the day. · written Aug 28

Rates and the curve

2-year (prior close)
4.34%
-5.0 bp 5d +14.0 bp
30 sessions · +0.2%
5-year
4.550%
+4.1 bp 5d +6.9 bp
30 sessions · +3.5%
10-year
4.784%
+2.2 bp 5d +6.4 bp
30 sessions · +3.1%
30-year
5.246%
+0.3 bp 5d +4.0 bp
30 sessions · +2.4%
5s30s spread
70bp
Bear flattener
USD / JPY
155.91
+0.16% 5d -2.63%
30 sessions · -4.8%
Dollar index
99.16
+0.16% 5d -0.54%
30 sessions · -2.3%
S&P 500
7,719
-0.38% 5d +0.09%
30 sessions · +4.1%

Breadth

Equal-weight vs cap-weight
narrowing
day -0.09% 5 sessions -0.87% 20 sessions -0.10%
ratio, 20 sessions
Small caps vs Nasdaq 100
flat
day +0.10% 5 sessions -0.26% 20 sessions -1.28%
ratio, 20 sessions

Relative performance of the broad and small-cap legs against the concentrated index. Narrowing means fewer names carry the tape; it is a condition to watch, not a signal by itself.

Volatility, metals, energy, credit

VIX
14.53
+0.2 pt 5d +0.1 pt
30 sessions · -22.2%
Vol term structure
contango
3-month VIX 17.61
Gold
4,477
-0.34% 5d -0.03%
30 sessions · +9.9%
WTI crude
91.48
+0.20% 5d +9.69%
30 sessions · +10.7%
Bitcoin
79,915
+0.11% 5d +3.24%
30 sessions · +23.1%
High yield (HYG)
79.16
-0.06% 5d -0.73%
30 sessions · -0.1%
Euphoria gauge
68/ 100 Greed
Composite of positioning, volatility, and breadth. Higher reads mean more complacency priced in.

How to read this page

These are the dials, not the conclusions. The written read is one line a day when the tape earns it; the rest of the reasoning lives in the published signals and their timestamped record. Sources: exchange closes and intraday prints for yields, FX, volatility, commodities, and credit; the 2-year is the prior session's official close. This is a dashboard, not a recommendation.