THE MACRO RECORD
Today
LATEST RECORD
THE MACRO RECORD Evidence, not narrative. September 18, 2026 THE TOP FIVE 1. Global markets are adjusting to higher rates and expensive energy Markets ended mixed while the Treasury benchmark remained above 5% earlier this week, a level that keeps financing costs restrictive across
Read the recordTHE BOARD
Snapshot prepared Sep 18, 2026
| Indicator | Current | Prior | Observed change | Source & cadence | Observed |
|---|---|---|---|---|---|
| 10Y Treasury | 4.94% | 5.01% | -0.07 pp | FRED · daily | Sep 17, 2026 |
| 10Y real yield | 2.61% | 2.68% | -0.07 pp | FRED · daily | Sep 17, 2026 |
| US high-yield spread | 2.70% | 2.70% | 0.00 pp | FRED / ICE BofA · daily | Sep 17, 2026 |
| VIX | 15.44 | 17.71 | -2.27 | FRED / Cboe · daily | Sep 17, 2026 |
| Broad dollar index | 118.21 | 118.08 | +0.13 | FRED · daily | Sep 11, 2026 |
| Brent crude | $130.80 | $121.25 | +$9.55 | FRED / EIA · daily | Sep 15, 2026 |
| Copper, global benchmark | $13,542.82 | $13,552.04 | -$9.22 | World Bank · monthly | Jul 2026 |
TREND BOARD
Snapshot prepared Sep 18, 2026
| Market | Current | 200-observation average | Above / below | Source & cadence | Observed |
|---|---|---|---|---|---|
| S&P 500 | 7,637.76 | 7,178.86 | +6.4% | FRED · daily | Sep 17, 2026 |
| VIX | 15.44 | 18.13 | -14.8% | FRED / Cboe · daily | Sep 17, 2026 |
| 10Y Treasury | 4.94% | 4.40% | +12.3% | FRED · daily | Sep 17, 2026 |
| 10Y real yield | 2.61% | 2.08% | +25.4% | FRED · daily | Sep 17, 2026 |
| Brent crude | $130.80 | $88.39 | +48.0% | FRED / EIA · daily | Sep 15, 2026 |
Values are sourced observations, not estimates. Publication calendars differ; the observation date is shown for each series.