{"schema_version":"1.0","product":"macro-regime","product_version":"1","generated_at":"2026-11-04T22:15:24.262Z","generated_at_et":"Wed, Nov 4, 2026, 5:15 PM ET","as_of":"2026-11-04T00:00:00.000Z","as_of_et":"Tue, Nov 3, 2026, 7:00 PM ET","pricing":{"model":"free","paywall":false,"price":null,"payments_mode":"off"},"license":{"status":"cleared_with_attribution","summary":"Fed/BLS/DOL series with no copyright notice on FRED; cite each source and FRED (citations in each input). Inputs are read via FRED, whose terms bar commercial use and caching without St. Louis Fed consent: commercial use NOT cleared (under review).","sources":[{"name":"Fed H.15 (T10Y3M), Chicago Fed NFCI, St. Louis Fed STLFSI4 via FRED","url":"https://fred.stlouisfed.org/","license":"No copyright notice on these FRED series (US public-sector data); cite source + FRED. FRED Services Terms of Use (fred.stlouisfed.org/legal) bar commercial use without the St. Louis Fed prior written consent (prohibition j) and storing/caching FRED content (prohibition p); commercial use not cleared, under review.","termsUrl":"https://fred.stlouisfed.org/legal/","commercialOk":"pending"},{"name":"U.S. Bureau of Labor Statistics","url":"https://www.bls.gov/","license":"US Government work (public domain); cite BLS","termsUrl":"https://www.bls.gov/opub/copyright-information.htm","commercialOk":true},{"name":"U.S. Department of Labor (weekly claims release)","url":"https://oui.doleta.gov/unemploy/claims.asp","license":"US Government work (public domain)","commercialOk":true}]},"attribution":["Federal Reserve Board (H.15), Federal Reserve Bank of Chicago (NFCI), Federal Reserve Bank of St. Louis (STLFSI4), U.S. Bureau of Labor Statistics (UNRATE), U.S. Department of Labor (ICSA); retrieved from FRED, Federal Reserve Bank of St. Louis."],"disclaimer":"Informational macro indicator. Not investment advice.","docs":"https://api.cev-os.com/openapi.json","data":{"regime":"risk_on","score":5,"max_score":5,"coverage":"5/5","confidence":1,"method":"Sum of five public macro/financial-conditions inputs, each scored -1/0/+1. risk_on if sum >= 2, risk_off if <= -2, else neutral. Daily/weekly/monthly inputs: this is a slow-moving macro regime, not a trading signal.","inputs":[{"id":"yield_curve_10y_3m","series":["T10Y3M"],"value":0.69,"unit":"percentage_points","as_of":"2026-11-04","score":1,"rule":"<0 inverted: -1; >0.5: +1; else 0","reading":"positive","source":{"name":"Federal Reserve Board H.15 (FRED-calculated spread) via FRED (T10Y3M)","url":"https://fred.stlouisfed.org/series/T10Y3M","license":"US Government data (Fed H.15); FRED-calculated. Cite FRED."}},{"id":"financial_conditions_nfci","series":["NFCI"],"value":-0.459,"unit":"index_std_dev","as_of":"2026-10-30","score":1,"rule":">0 tighter than average: -1; < -0.3: +1; else 0","reading":"loose","source":{"name":"Federal Reserve Bank of Chicago via FRED (NFCI)","url":"https://fred.stlouisfed.org/series/NFCI","license":"No copyright notice on FRED; US public-sector data. Cite the source and FRED."}},{"id":"financial_stress_stlfsi4","series":["STLFSI4"],"value":-0.5224,"unit":"index","as_of":"2026-10-30","score":1,"rule":">0.5: -1; < -0.5: +1; else 0","reading":"below-average stress","source":{"name":"Federal Reserve Bank of St. Louis via FRED (STLFSI4)","url":"https://fred.stlouisfed.org/series/STLFSI4","license":"No copyright notice on FRED; US public-sector data. Cite the source and FRED."}},{"id":"unemployment_trigger","series":["UNRATE"],"value":0,"unit":"percentage_points","as_of":"2026-09-01","score":1,"rule":"Computed by cev-os from BLS UNRATE: 3-mo avg minus prior-12-mo min of 3-mo avg. >=0.5: -1; >=0.3: 0; else +1","reading":"not triggered","source":{"name":"U.S. Bureau of Labor Statistics via FRED (UNRATE)","url":"https://fred.stlouisfed.org/series/UNRATE","license":"US Government work (public domain)"}},{"id":"initial_claims_trend","series":["ICSA"],"value":0,"unit":"percent_above_52w_low_of_4wk_avg","as_of":"2026-10-24","score":1,"rule":"4-wk avg vs its 52-wk low: >20%: -1; >10%: 0; else +1","reading":"4-wk avg 196,750","source":{"name":"U.S. Department of Labor via FRED (ICSA)","url":"https://fred.stlouisfed.org/series/ICSA","license":"US Government work (public domain)"}}],"as_of":"2026-11-04T00:00:00.000Z","omitted":[{"id":"trend_bot_exposure","reason":"The cev-os Trend Vol-Target exposure is a separate product at /v1/regime-trend (paper / hypothetical)."}]}}