Beneath the surface

Selected for non-obvious structure
MarketsCross-asset · live · 03:00 UTC · Yahoo Finance / FRED / CFTC
Equities
7,666.60
S&P 500
+0.46%
Normal
Rates
4.796
US 10Y yield, %
-0.0bp
Normal
Credit
265
US high-yield spread, bp
+2
Normal
FX
99.47
Dollar index (DXY)
-0.09%
Normal
Commodities
91.03
WTI crude, $/bbl
+0.90%
Normal
Volatility
15.20
VIX
-1.14
Normal
Rates
Curve steepening shows funding stress is in the short end

Short-term rates are repricing fast; growth views shift only later.

Credit
Risk clusters by borrower, not sector

An index average can conceal default clustering within a handful of balance sheets.

Liquidity
Market depth thins quietly before volatility spikes

Liquidity risk materializes before benchmarks move, reflected first in canceled quotes.

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