{
  "timestamp": "2026-09-18T16:13:35+00:00",
  "status_code": "PHASE_1",
  "status_message": "PHASE 1 ACTIVE: MAINTAIN HIGH CASH & REAL CARRY",
  "banner_color": "#16a34a",
  "previous_status_code": "PHASE_1",
  "total_score": 0,
  "max_score": 100,
  "quorum_hits": 0,
  "quorum_required": 2,
  "gates": {
    "gate1_credit": {
      "description": "HY OAS >= 375 bps OR Single-B OAS >= 425 bps",
      "triggered": false,
      "points": 0,
      "status": "ok"
    },
    "gate2_yield": {
      "description": "DGS10 >= 5.10%",
      "triggered": false,
      "points": 0,
      "status": "ok"
    }
  },
  "indicators": [
    {
      "id": "credit_spread_gate",
      "number": 1,
      "tier": 1,
      "name": "Credit spread gate (HY OAS / Single-B OAS)",
      "threshold": "HY OAS >= 375 bps OR Single-B OAS >= 425 bps",
      "points_possible": 30,
      "value": {
        "hy_oas": 270.0,
        "single_b_oas": 277.0
      },
      "unit": "bps",
      "as_of": null,
      "triggered": false,
      "points": 0,
      "status": "ok",
      "error": null,
      "components": {
        "hy_oas": {
          "series": "BAMLH0A0HYM2",
          "as_of": "2026-09-17",
          "value": 270.0,
          "unit": "bps",
          "threshold": ">= 375 bps",
          "triggered": false,
          "status": "ok",
          "error": null
        },
        "single_b_oas": {
          "series": "BAMLH0A2HYB",
          "as_of": "2026-09-17",
          "value": 277.0,
          "unit": "bps",
          "threshold": ">= 425 bps",
          "triggered": false,
          "status": "ok",
          "error": null
        }
      }
    },
    {
      "id": "yield_gate",
      "number": 2,
      "tier": 1,
      "name": "10Y Treasury yield (DGS10)",
      "threshold": ">= 5.10%",
      "points_possible": 30,
      "value": 5.01,
      "unit": "%",
      "as_of": "2026-09-16",
      "triggered": false,
      "points": 0,
      "status": "ok",
      "error": null
    },
    {
      "id": "claims_ma4",
      "number": 3,
      "tier": 2,
      "name": "Initial jobless claims, 4-week MA (ICSA)",
      "threshold": ">= 250,000 (4-week moving average)",
      "points_possible": 10,
      "value": 203250,
      "unit": "claims",
      "as_of": "2026-09-12",
      "triggered": false,
      "points": 0,
      "status": "ok",
      "error": null,
      "latest_weekly": 196000
    },
    {
      "id": "gold_copper_ratio",
      "number": 4,
      "tier": 2,
      "name": "GLD/CPER ratio (gold vs copper)",
      "threshold": ">= 1.15 x 50-day SMA of ratio",
      "points_possible": 10,
      "value": 9.997,
      "unit": "ratio",
      "as_of": "2026-09-18",
      "triggered": false,
      "points": 0,
      "status": "ok",
      "error": null,
      "sma50": 9.9671,
      "trigger_level": 11.4622
    },
    {
      "id": "beta_vol_ratio",
      "number": 5,
      "tier": 2,
      "name": "SPHB/SPLV ratio (high-beta vs low-vol)",
      "threshold": "< 200-day SMA of ratio",
      "points_possible": 10,
      "value": 2.0144,
      "unit": "ratio",
      "as_of": "2026-09-18",
      "triggered": false,
      "points": 0,
      "status": "ok",
      "error": null,
      "sma200": 1.8105
    },
    {
      "id": "oil_momentum",
      "number": 6,
      "tier": 2,
      "name": "BNO 20-day return (oil momentum)",
      "threshold": "< -8.0% (20-day return)",
      "points_possible": 10,
      "value": 14.17,
      "unit": "%",
      "as_of": "2026-09-18",
      "triggered": false,
      "points": 0,
      "status": "ok",
      "error": null
    }
  ],
  "credit_bifurcation": {
    "id": "credit_bifurcation",
    "name": "Credit Bifurcation Watch (CCC & Lower OAS minus HY OAS)",
    "informational": true,
    "counted_in_scoring": false,
    "series_requested": "BAMLCC0A0CM",
    "series_used": "BAMLH0A3HYC",
    "series_fallback": true,
    "hy_oas_bps": 270.0,
    "ccc_oas_bps": 1076.0,
    "spread_bps": 806.0,
    "as_of": "2026-09-17",
    "status": "ok",
    "error": null
  },
  "fed_dots": {
    "fed_dots_rollover": false,
    "fed_dots_updated": "2026-09-16",
    "fed_dots_note": "Sep 2026 FOMC hiked to 3.75-4.00%; median dot 4.125% -> false"
  }
}