Portfolio health
A book can look diversified by name and sector and still be one bet. These
are the exposures that bind, measured as a share of your weight rather than a count of
holdings, because four positions at 3% is not the same risk as two at 30%.
Rates: which shock moved the curve
A rate shock and an inflation shock push gold and TIPS in opposite
directions; the headline 10-year yield alone does not say which one happened.
Macro: what the data is doing, and how it reaches your book
Macro releases are compared with their prior reading
(consensus forecasts are licensed data this product does not use). This describes textbook
transmission, not a forecast, and never an instruction to buy, sell or hold.