Macro narratives move quickly. Before forming a view on the economy or markets, I like starting with a handful of indicators that put the story into context.
1. The 10-Year Treasury Yield
A basic read on long-term rates and one of the most important reference points across financial markets.
Resource: FRED — 10-Year Treasury Rate
2. The 2-Year / 10-Year Treasury Spread
A simple way to visualize the shape of the yield curve and how markets are pricing different parts of the economic cycle.
Resource: FRED — 10-Year Treasury Minus 2-Year Treasury
3. High-Yield Credit Spreads
When investors demand substantially more compensation to own risky corporate debt, it’s worth paying attention.
Resource: FRED — U.S. High Yield Option-Adjusted Spread
4. Unemployment
Market narratives can change daily. Labor-market data helps anchor the discussion in what is actually happening in the economy.
Resource: FRED — U.S. Unemployment Rate
5. Bank Lending Standards
Credit availability matters. The Federal Reserve’s Senior Loan Officer Opinion Survey provides insight into whether banks are tightening or easing lending standards.
Resource: Federal Reserve — Senior Loan Officer Opinion Survey
No single chart tells you where markets are headed. Together, however, these five provide a useful starting dashboard for separating the macro narrative from the underlying data.
This is not financial advice. This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Always conduct your own research and consult a qualified professional when appropriate.
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