Macro & Intermarket Analysis
Top-down: economies, policy, and how markets move together.
Updated Jun 24, 2026 at 2:35pm
98844e3f281 Economic Cycles & Indicators 4 5 1,190 13513961e795 GDP & Growth 1 1,159 1348262f9f89 Inflation (CPI, PCE) 1 1,265 13497952dbff Employment Data 1 1,169 135026b095b8 Leading vs Lagging Indicators (PMI, etc.) 1 1,228
981dde5fabf Monetary Policy & Central Banks 3 7 1,286 1317ef814b9c Interest Rates & the Fed 1 1,166 131825936260 Quantitative Easing / Tightening 1 1,198 13198b75214e The Yield Curve 3 4 1,232 166377b350b0 Normal vs Inverted Curve 1 1,184 166447132be6 Curve as Recession Signal 1 1,154 1662e22244fa Real vs Nominal Yields 1 1,184
9771776cb78 Fiscal Policy & Government Spending 1 1,197 984f7d6e46f Intermarket Analysis (Stocks, Bonds, Commodities, FX) 4 5 1,163 13354eec1386 Stocks vs Bonds 1 1,192 133356065aa8 Commodities & Inflation 1 1,102 133283bed243 Dollar & Equities 1 1,034 133465871f0d Credit Spreads as Risk Gauge 1 1,117
975af1c4cf9 Sector Rotation & the Business Cycle 4 5 1,251 1291b77655ec Early-Cycle Leaders 1 1,168 129312a88f30 Mid-Cycle Leaders 1 1,160 12901225a1c6 Late-Cycle Leaders 1 1,200 12926ddc9106 Recession Defensives 1 1,213
97434790f47 Global Macro & Geopolitics 1 1,199 9855e8e990b Inflation & Deflation Regimes 1 1,062 9793f66c59c Currencies & FX Impact on Equities 1 1,181 987e87493c6 Macro → Equity Transmission ("How X Affects Stocks") 7 8 1,334 13446be054b4 How Interest Rates Affect Stocks (Equity Duration) 1 1,132 1345a7d9b695 How the Dollar Affects Stocks 1 1,157 13432a44679b How Oil & Commodities Affect Sectors 1 1,230 13426812cb53 How Credit Spreads Affect Risk Appetite 1 1,070 1347d5899fd0 How Inflation Affects Value vs Growth 1 1,245 13417cd8b300 How Bond Yields Affect Equity Multiples 1 1,210 1346e7dd5f8b How Liquidity Affects Risk Assets 1 1,284
986efb471ec Fed Plumbing & Net Liquidity 5 6 1,149 1337483f62d3 Reverse Repo (RRP) 1 1,179 13390fd00f1b Treasury General Account (TGA) 1 1,164 1338fdb05bcf Quantitative Tightening Mechanics 1 1,236 133600b39196 Bank Reserves & Net Liquidity 1 1,181 13403da366c1 FOMC Drift & Meeting-Day Effects 1 1,177
983ca5bd51c Market Seasonality & Calendar Effects 6 7 1,247 1327229eb48e Sell in May / Halloween Indicator 1 1,305 1326877b067d Santa Claus Rally 1 1,301 1331b5e51352 Turn-of-the-Month Effect 1 1,172 132973f81b89 Presidential / Election Cycle 1 1,142 1330d2641bf9 Tax-Loss Selling Season 1 1,317 13280e09a075 Day-of-Week & Time-of-Day Effects 1 1,233
98272991c77 International & Emerging Markets 6 7 1,081 1320d7d820d9 Emerging Markets Investing 1 1,279 1323ed00dd0a International Diversification 1 1,282 1322637bdc39 Country & Political Risk 1 1,238 13215823a1b6 Currency-Hedged vs Unhedged 1 1,204 13254f854c0a ADRs & Cross-Listings 1 1,350 13246d46585b Developed vs Frontier Markets 1 1,153
9780ecf6a20 Economic Data Calendar & High-Impact Events 6 19 1,239 1305bc660e3f The High-Impact Release Calendar 12 13 1,077 1657626fecd8 Nonfarm Payrolls (Jobs Report) 1 1,155 165320f9a64f CPI (Consumer Price Index) 1 1,159 16615142c8ff Core PCE (Fed's Preferred Gauge) 1 1,258 165281949e7c FOMC Rate Decision & Statement 1 1,142 16593019fcf6 ISM Manufacturing & Services (PMI) 1 1,248 165677a58aad Retail Sales 1 1,029 1660c5d770c5 GDP (Advance / Second / Third) 1 1,154 165125529aab PPI (Producer Prices) 1 1,273 16550bf2fab9 Initial Jobless Claims 1 1,281 165099a34856 JOLTS (Job Openings) 1 1,208 1654bd57b7f2 Consumer Confidence & Sentiment 1 1,255 165847df765c Housing Data (Starts, Permits, Sales) 1 1,163
1303965e65e0 Consensus vs Actual & the Surprise Reaction 1 1,314 1304f9e543c9 Whisper Numbers & Positioning Into Events 1 1,150 1306b3c602aa The Fed Reaction Function 1 1,225 130284df7a96 Good-News-Is-Bad-News Regimes 1 1,338 13078adb9126 Trading the Release vs Fading the Move 1 1,295
98044b3b0ef Tracking & Monitoring Macro 9 10 1,166 1314f558605d Economic Calendars 1 1,220 131355a64a6d Economic Surprise Indices (Citi CESI) 1 1,235 13081e4208b7 Nowcasting (GDPNow / Nowcast) 1 1,345 1310f6cfa57b Fed Funds Futures & CME FedWatch (Rate Odds) 1 1,246 1312b233c71b The Dot Plot & Summary of Economic Projections 1 1,257 130973d3d5a9 Breakeven Inflation & TIPS (5y5y) 1 1,212 1311c8fb7fc8 Financial Conditions Indices 1 1,272 131556f9a2fe Positioning & Fund-Manager Surveys (BofA FMS, COT) 1 1,321 1316663217ba Key Data Sources & Dashboards (FRED, etc.) 1 1,209
9761ba1751e Macro Factor Sensitivity & Elasticity 8 22 1,321 1300f6c2e6ef What a Macro Beta / Elasticity Is 1 1,312 1299456f3f4a Sensitivity to Specific Macro Factors 6 7 1,209 1641d80a8537 Equity Duration (Interest-Rate Beta) 1 1,278 1642cc9f2b80 Sensitivity to the Dollar (DXY Beta) 1 1,165 1645542ccc90 Sensitivity to Oil & Commodities 1 1,260 164363be1b29 Sensitivity to Inflation & Breakevens 1 1,160 1646c9f2291f Sensitivity to Credit Spreads / Risk 1 1,152 1644b97658be Sensitivity to the 10-Year & Real Yields 1 1,157
1296cca19524 Sector & Factor Macro Sensitivities 1 1,128 1295e0b6ec6d Estimating Sensitivities 4 5 1,214 164073d2fbd5 Rolling-Window Regression 1 1,238 16385e76e846 Multivariate Macro Regression 1 1,068 1639e83306c8 Beta Stability & Look-Back Choice 1 1,146 16378167c249 Orthogonalizing Correlated Factors 1 1,222
12972204d988 Why Macro Betas Are Regime-Dependent (Unstable) 1 1,204 129870677ee0 Macro Factor Models (Barra, BIRR, Statistical/PCA) 1 1,242 13011911c747 Applying Macro Sensitivities 3 4 1,170 1649884a2b9f Positioning for a Macro View 1 1,259 164846af4165 Hedging Unwanted Macro Exposure 1 1,389 1647503ce57e Portfolio Macro-Exposure Decomposition 1 1,269
12943a300f8f Building This in Delvantic (Live Macro Betas from Universe History) 1 1,114
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