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Macro Regime Dashboard

Last updated: 2026-05-19 19:18

11 / 25
BULLISH
11 Bull · 11 Neutral · 3 Bear
Aggregate regime signal from 25 macro indicators.
Regime Score Trend

Indicators

Activity
Building Permits
BEAR
1K
▼ -11.38% from prior
Activity
Capacity Utilization
BULL
76.1%
▲ +0.59% from prior
Activity
Durable Goods Orders
NEUTRAL
$319B
▲ +0.85% from prior
Activity
Industrial Production
BULL
102.5
▲ +0.68% from prior
Activity
TSI Freight Index
BULL
139.8
▲ +1.53% from prior
Activity
Truck Tonnage Index
BULL
283207.0
▲ +15.59% from prior
Consumer
Consumer Sentiment
NEUTRAL
53.3
▼ -5.83% from prior
Consumer
Retail Sales
BULL
$656B
▲ +0.47% from prior
Consumer
Vehicle Sales
BULL
16.7M
▲ +3.71% from prior
Credit
HY Credit Spread
BULL
2.83%
▲ +1.07% from prior
Energy
WTI Crude Oil
BEAR
$101.6
▲ +2.72% from prior
Housing
Case-Shiller Home Prices
NEUTRAL
327.3
▲ +0.29% from prior
Housing
New Home Sales
BEAR
682K
▲ +7.4% from prior
Inflation
CPI
NEUTRAL
332.4
▲ +0.64% from prior
Labor
Initial Claims
NEUTRAL
211K
▲ +6.03% from prior
Labor
Job Openings (JOLTS)
NEUTRAL
6.9M
▼ -0.81% from prior
Labor
Nonfarm Payrolls
NEUTRAL
158.7M
▲ +0.07% from prior
Labor
Sahm Rule
BULL
0.13
▼ -35.0% from prior
Labor
Unemployment Rate
BULL
4.3%
— 0% from prior
Liquidity
Fed Balance Sheet
NEUTRAL
$6.7T
▲ +0.28% from prior
Liquidity
M2 Money Supply
BULL
$22.7T
▲ +0.26% from prior
Market
VIX
NEUTRAL
17.8
▼ -3.31% from prior
Output
Real GDP
NEUTRAL
$24.2T
▲ +0.49% from prior
Rates
Fed Funds Rate
NEUTRAL
3.64%
— 0% from prior
Rates
Yield Curve 10Y-2Y
BULL
0.54%
— 0% from prior

Long-Term Regime Score vs S&P 500 (since 2001)

Monthly regime score from 2001 to present. Shaded red zones highlight periods where the score turned negative — compare with major drawdowns.

Treasury Yield Curve

Fed Rate Projections

Recession Probability

Smoothed recession probability (Markov-switching model) and GDP-based indicator. Grey bands show NBER-defined recessions.

Case-Shiller Home Price Index

S&P Case-Shiller Home Price Index (Jan 2000 = 100). National composite and major metro areas.

Source: U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, Board of Governors of the Federal Reserve System, U.S. Census Bureau, University of Michigan, Cboe, ICE BofA; retrieved from FRED, Federal Reserve Bank of St. Louis.

This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. By using this page, you agree to the FRED® API Terms of Use.

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms