TRADER ALPHA
Macro Intelligence Terminal
--
NYSE · --
Click row for detail · ↗ opens full tab
Loading…
S&P 500
7,038.54
+0.23%
NASDAQ
22,748.00
+0.50%
Dow Jones
48,531.00
-0.02%
Russell 2K
2,701.90
+0.13%
VIX
18.76
+3.25%
10Y UST
4.300%
+2 bps
2Y UST
3.770%
0 bps
2s10s
53.2 bps
Positive
DXY
98.23
+0.31%
EUR/USD
1.1665
-0.31%
Gold
$4,827
-0.43%
Brent
$90.38
-1.47%
BTC
$72,348
+1.75%
Fed Rate
3.64%
EFFR
Core PCE
3.10%
+3.2% YoY
Breakeven
--%
10Y TIPS

Market Verdict

Four-Pillar Scoring System · Liquidity 35% · Cycle 25% · Technical 25% · Sentiment 15%
—
—
— | â€”
Consensus —
—
All pillars aligned — high signal confidence
—

Economic Indicators — Scorecard

BEATS 14 MISSES 13 IN LINE 8 ABOVE EST 6 41 TOTAL Avg Surp +14.2%
Indicator Actual Est. Status Miss vs Beat Surp%
Growth
GDP AnnualisedQ4 2025 Prel 0.70% 1.40% MISS
-50.0%
Labour
Nonfarm PayrollsMar 2026 +178k +59k BEAT
+201.7%
JOLTS Job OpeningsFeb 2026 6.88M 6.92M MISS
-0.6%
Unemployment RateMar 2026 4.3% 4.3% IN LINE
--
ADP EmploymentMar 2026 +62k +40k BEAT
+55.0%
Avg Hourly Earnings YoYMar 2026 3.5% 3.7% MISS
-5.4%
Unit Labour CostsQ4 2025 4.4% 3.3% ABOVE EST
-33.3%
Nonfarm ProductivityQ4 2025 1.8% 2.5% MISS
-28.0%
Inflation
CPI YoYFeb 2026 2.4% 2.4% IN LINE
--
Core CPI YoYFeb 2026 2.5% 2.5% IN LINE
--
Core PCE YoYFeb 2026 3.0% 3.0% IN LINE
--
PCE YoYFeb 2026 2.8% 2.8% IN LINE
--
PCE MoMFeb 2026 +0.4% +0.4% IN LINE
--
Core PCE MoMFeb 2026 +0.4% +0.4% IN LINE
--
CPI MoMFeb 2026 +0.2% +0.3% MISS
-33.3%
Core CPI MoMFeb 2026 +0.2% +0.3% MISS
-33.3%
PPI YoYFeb 2026 3.4% 2.9% ABOVE EST
+17.2%
PPI MoMFeb 2026 +0.4% +0.2% ABOVE EST
+100.0%
Core PPI MoMFeb 2026 +0.1% +0.2% MISS
-50.0%
Core PPI YoYFeb 2026 +3.5% +3.2% ABOVE EST
+9.4%
Activity
ISM Mfg PMIMar 2026 52.7 52.5 BEAT
+0.38%
ISM Services PMIMar 2026 54.0 55.0 MISS
-1.8%
ISM Mfg Prices PaidMar 2026 78.3 73.6 ABOVE EST
+6.39%
Philadelphia Fed MfgApr 2026 26.7 10.3 BEAT
+159.2%
Chicago PMIMar 2026 52.8 55.0 MISS
-4.0%
Richmond Fed MfgMar 2026 0 -5 BEAT
+100.0%
Consumer
Retail Sales MoMFeb 2026 +0.6% +0.5% BEAT
+20.0%
Personal Spending MoMFeb 2026 +0.5% +0.4% BEAT
+25.0%
Personal Income MoMFeb 2026 -0.1% +0.3% MISS
-133.3%
Michigan SentimentMar 2026 Final 53.3 55.5 MISS
-4.0%
Consumer CreditJan 2026 $8.05B $12.00B MISS
-32.9%
Housing
Housing StartsJan 2026 1.49M 1.35M BEAT
+10.2%
Pending Home SalesFeb 2026 +1.8% -0.5% BEAT
+460.0%
New Home SalesJan 2026 0.59M 0.72M MISS
-18.5%
Building PermitsJan 2026 1.38M 1.41M MISS
-2.4%
Trade
Trade Balance G&SFeb 2026 -$57.3B -$59.2B BEAT
+3.2%
TIC Net LT FlowsJan 2026 $15.5B $71.6B MISS
-78.3%
Current AccountQ4 2025 -$190.7B -$211.0B BEAT
+9.6%
Fed Policy
Fed Interest RateMar 18, 2026 3.75% 3.75% IN LINE
--

Markets

Loading…
S&P 500
^GSPC
--
--
NASDAQ
^IXIC
--
--
Dow Jones
^DJI
--
--
Russell 2000
^RUT
--
--
VIX
Fear
--
--
10Y Yield
UST
--%
--
DXY
Dollar
--
--
EUR/USD
Spot
--
--
Gold
XAU/USD
--
--
Brent
ICE
--
--
BTC
Bitcoin
--
--

Upcoming Events

Events · Apr 16
Apr 21
Retail Sales (Mar) — Rescheduled
* HIGH Was Apr 16; rescheduled by Census — consumer resilience post-tariff shock
Apr 23
Flash PMIs (Apr) — Manufacturing & Services
* MED First April activity read — tariff demand destruction signal
Apr 28–29
FOMC Meeting
* HIGH No cut expected — Fed on hold; tariff uncertainty key
Apr 29
Q1 GDP Advance Estimate
* HIGH First look at Q1 growth — tariff front-loading vs demand shock
Apr 30
Core PCE Inflation (Mar)
* HIGH Fed's preferred gauge — tariff pass-through impact key

Bond Market

Yields · Spreads · TIPS · TIC Flows
Treasury Yields & Changes
TenorYield1D Chg1W Chg1W Ago
3M3.69%—-2bps3.71%
1Y3.70%-4bps-4bps3.74%
2Y3.77%0bps-7bps3.84%
5Y3.90%0bps-11bps4.01%
10Y4.30%+2bps-7bps4.37%
20Y4.88%+2bps-3bps4.91%
30Y4.91%+2bps0bps4.91%
Spreads
SpreadNow1W Ago1M Ago52W Range
2s10s+53bps53bps56bps20–73bps
3M-10Y+60bps71bps33bps-27–71bps
10s30s+60bps54bps65bps26–69bps
5s30s+101bps92bps110bps47–123bps
TIPS & Inflation Expectations
MetricValueNote
10Y Real Yield1.90%FRED DFII10
10Y Breakeven2.54%Nominal - Real
30Y TIPS Yield2.47%Feb 19 auction
TIC LT Flows (Jan)$15.5Bvs $71.6B est — MISS -78%

Treasury Yield Curve

2s10s +52bps · Bull Steepening
2Y 3.77%
10Y 4.30%
30Y 4.91%
2s10s +53bps
BE 2.54%

Treasury Auction Monitor

Bills · Notes · Bonds · TIPS Last result · BTC vs 6-Auction Avg · Tail bps
Security Last High Yield
now / prev / 6A avg
WI Tail
now / prev / 6A avg
BTC
now / prev / 6A avg
Dealers
now / prev / 6A avg
Directs
now / prev / 6A avg
Indirects
now / prev / 6A avg
Assessment
3M BillApr 23
3.694%prev 3.704% · 6A 3.706%
2.94xprev 2.77x · 6A 2.79x
34.6%prev 35.6% · 6A 38.8%
7.0%prev 7.7% · 6A 6.9%
58.5%prev 56.7% · 6A 54.3%
Strong — BTC 2.94x vs 2.79x avg; yield eased to 3.694%; indirects 58.5% above avg
6M BillApr 23
3.707%prev 3.728% · 6A 3.721%
2.89xprev 2.84x · 6A 2.88x
32.7%prev 29.7% · 6A 31.7%
10.8%prev 9.2% · 6A 9.5%
56.5%prev 61.1% · 6A 58.8%
Steady — BTC in-line at 2.89x; yield softer at 3.707%; indirects dipped to 56.5% vs 58.8% avg
2Y NoteMar 31
3.936%prev 3.455% · 6A 3.577%
3.918%
+1.8bpprev — · 6A -0.2
2.44xprev 2.63x · 6A 2.60x
24.1%prev 9.8% · 6A 12.8%
16.5%prev 34.3% · 6A 29.8%
59.4%prev 55.9% · 6A 57.4%
Weak — BTC softened to 2.44x vs 2.60x avg; dealers absorbed 24.1%; tail 1.8bp
5Y NoteMar 31
3.980%prev 3.615% · 6A 3.725%
3.966%
+1.4bpprev — · 6A +0.3
2.29xprev 2.32x · 6A 2.35x
15.6%prev 12.8% · 6A 11.4%
22.5%prev 24.7% · 6A 26.5%
61.9%prev 62.5% · 6A 62.1%
Soft — BTC below avg at 2.29x; tail 1.4bp; dealers absorbed 15.6% vs 11.4% avg
7Y NoteMar 31
4.255%prev 3.790% · 6A 3.927%
4.247%
+0.8bpprev — · 6A +0.3
2.43xprev 2.50x · 6A 2.47x
12.4%prev 10.4% · 6A 11.5%
25.0%prev 26.0% · 6A 27.2%
62.6%prev 63.6% · 6A 61.3%
Mixed — BTC near avg at 2.43x; tail 0.8bp; indirects solid at 62.6%
10Y NoteApr 15
4.282%prev 4.217% · 6A 4.183%
4.280%
+0.2bpprev +0.7 · 6A +0.3
2.43xprev 2.45x · 6A 2.47x
10.8%prev 12.7% · 6A 10.3%
23.9%prev 12.8% · 6A 21.2%
65.3%prev 74.5% · 6A 68.5%
Mixed — BTC near avg at 2.43x; tail tight at 0.2bp; indirects pulled back to 65.3% vs 68.5% avg
20Y BondMar 31
4.817%prev 4.664% · 6A 4.723%
2.76xprev 2.36x · 6A 2.63x
9.2%prev 17.6% · 6A 11.2%
21.6%prev 27.2% · 6A 25.9%
69.2%prev 55.2% · 6A 62.9%
Strong — BTC 2.76x well above 2.63x avg; indirects surged to 69.2%; dealers low at 9.2%
30Y BondApr 15
4.876%prev 4.871% · 6A 4.798%
4.871%
+0.5bpprev +1.5 · 6A -0.3
2.39xprev 2.45x · 6A 2.43x
11.6%prev 9.4% · 6A 10.8%
24.2%prev 27.2% · 6A 22.5%
64.1%prev 63.4% · 6A 66.8%
Soft — BTC slightly below avg at 2.39x; tail 0.5bp; indirects fell to 64.1% vs 66.8% avg
10Y TIPSMar 31
1.896%prev 1.940% · 6A 1.936%
2.47xprev 2.38x · 6A 2.37x
7.5%prev 12.2% · 6A 11.6%
24.0%prev 20.4% · 6A 23.8%
68.5%prev 67.4% · 6A 64.6%
Strong — BTC 2.47x above avg; dealers low at 7.5%; real yield 1.896% vs 1.936% 6A avg
Tail = High Yield minus WI price · Positive tail = weak demand · BTC = Bid-to-Cover ratio · Indirects = foreign/institutional buyers (higher = stronger foreign demand) · Source: TreasuryDirect.gov

Volatility & Positioning

VIX -- · Live
VIX Implied Vol
--
Loading…
1360
50D MA22.5
vs 50D MA-17%
200D MA18.24
VIX Term Structure
Contango
Futures above spot — risk appetite recovering
VIX Spot--
May (M1)20.42 +11.7%
Jun (M2)20.85 +14.1%
Jul (M3)21.15 +15.7%
StructureNormal · Charts ↓
Realised vs Implied
1.6x
VIX / 21D Realised ratio
21D Realised11.8%
VIX (Implied)--%
Vol Premium+7.0pts
SignalSlightly elevated
SPX Technical
RSI 83.3
Deeply Overbought
0100
SPX--
50D MAsnapshot
200D MAsnapshot
CFTC S&P 500 Pos.
-113B
Non-comm net short
Prior week-134.5B
Weekly chg+21.4B
TrendShort covering
BiasBearish
CFTC Gold Pos.
+160B
Non-comm net long
Prior week+163.1B
Weekly chg-3.2B
TrendTrimming longs
BiasBullish

VIX Futures Curve

Spot -- · Futures snapshot Spot: live · Futures: Apr 16 snapshot
May 20.55
Jun 20.95
Jul 21.25
Dec 21.90
M7→4 +6.6%

SKEW — 20D History

Elevated tail risk · 139.2 spot
Spot 139.2
20D Avg 144.0
52W H 158.0
52W L 115.5

SKEW Term Structure

By expiry · Apr 16 Higher = more OTM put demand / fat-tail fear priced further out
Jun 141.0
Jul 143.5
Aug 142.5

Live Market Charts

TradingView · Real-time · Hover any chart then click ✎ to change symbol

Change Chart Symbol

Type any TradingView symbol in Exchange:TICKER format

Indices: SP:SPX · NASDAQ:NDX · DJ:DJI
ETFs: NASDAQ:QQQ · AMEX:SPY · NASDAQ:TQQQ
Macro: CAPITALCOM:DXY · CBOE:VIX · CBOT:ZN1!
Metals: TVC:GOLD · TVC:SILVER · NYMEX:CL1!
Crypto: BITSTAMP:BTCUSD · BITSTAMP:ETHUSD
Stocks: NASDAQ:AAPL · NYSE:NVDA · NYSE:META

Surprise Summary

Beats 15 (38%) Avg +7.7% cap +/-100
Beats 15
Misses 12
In-Line 7
Above Est 5
Avg Surp +7.7%

Treasury Yield Curve

2s10s +51bps
2Y 3.91%
10Y 4.43%
30Y 4.97%
BE 2.54%

S&P Sector RRG

Relative Rotation
Leading: XLE XLU XLP XLV XLRE
Lagging: XLY XLF XLC XLK XLI

G7 Macro

Latest
CountryGDPCPIUnempRate
US0.7%2.4%4.4%3.75%
UK1.3%3.0%5.2%3.75%
Germany0.4%1.9%6.3%2.0%
France0.2%1.1%6.1%2.0%
Japan1.3%1.3%2.7%0.75%
Canada-0.6%2.3%6.7%2.25%
Italy0.8%1.5%6.1%2.0%
TRADER ALPHA · Data: Yahoo Finance / FRED / FXStreet · Not financial advice
Monthly close · Click anywhere outside to close