The JPM Collar – Understanding the Market’s Hidden Hand
What Is the JPM Collar? The “JPM collar” refers to a large, structured options position—widely associated with JPMorgan’s hedging program—that […]
April 2026
Contango – When the Future Commands a Premium
What Is Contango? Contango is a market condition where futures prices trade above the current spot price of an asset.
S&P 500, Rates, ERP & Growth
A Macro Framework for Understanding Equity Returns What Drives Equity Returns? Total equity returns can be approximated as the sum
Backwardation – When the Present Commands a Premium
What Is Backwardation? Backwardation is a market condition where futures prices trade below the current spot price of an asset.
Weekly Macro Dashboard
May 21, 2026 | 18:34 ET RISK PREMIUM COMPRESSION ERP compression *Fed policy rate probabilities are generated by a proprietary
QT and the Fed Balance Sheet
What Led to the Drop in the Fed’s Balance Sheet (April 2022 → March 2026)? The Federal Reserve’s total assets—commonly
US Economic Performance Gauge
Dashboard Last Updated: May 22, 2026 at 11:49 AM Indicator Latest Reading Status (Trend) Reference Period Next Release Date Release
