{"as_of_date":"2026-04-03","stress_score":10.16,"regime":"Calm","sub_scores":{"vol":9.0,"credit":0.0,"dollar":1.16,"metals":0.0,"funding":0.0},"top_drivers":[{"factor":"vol","details":"VIX=nan, 1d chg=nan%","contribution":9.0},{"factor":"dollar","details":"DXY 1d chg=0.14%, z=0.17","contribution":1.16},{"factor":"funding","details":"SOFR-FF spread z=nan","contribution":0.0}],"recommendations":[{"direction":"Long","asset":"HYG (High Yield ETF)","why_now":"Funding stress is minimal; credit spreads compressing. Carry is attractive.","invalidation":"SOFR-FF spread widens above 10 bps or VIX breaks above 20.","risk_level":"Low","stop_guidance":"Close on daily close below 20-day moving average.","time_horizon":"2–4 weeks","confidence":0.8},{"direction":"Long","asset":"Copper (HG=F)","why_now":"Risk appetite is healthy; industrial metals benefit from low-stress environment.","invalidation":"DXY rises more than 1% in a day or metals liquidation flag triggers.","risk_level":"Low","stop_guidance":"1.5% trailing stop from entry.","time_horizon":"1–3 weeks","confidence":0.6},{"direction":"Neutral","asset":"Gold (GC=F)","why_now":"No safe-haven bid warranted. Gold may drift lower as risk-on prevails.","invalidation":"Stress score rises above 25 or gold-DXY divergence turns positive.","risk_level":"Low","stop_guidance":"No active position — monitor for regime shift.","time_horizon":"Ongoing","confidence":0.4}],"narrative":"As of 2026-04-03. LiquidityWatch Stress Score: 10.2/100 — Regime: **Calm**.\n\nMarket liquidity conditions appear orderly. Funding markets are functioning normally, the dollar is stable, and there are no signs of forced asset liquidation.\n\nThe primary drivers of today's score are: Volatility confirmation (VIX) (VIX=nan, 1d chg=nan%) contributed 9.0 points. Dollar tightness (DXY) (DXY 1d chg=0.14%, z=0.17) contributed 1.2 points. Funding stress (SOFR–Fed Funds spread) (SOFR-FF spread z=nan) contributed 0.0 points.\n\nRecommendations are unchanged from the previous session.\n\nContinue monitoring funding markets. Any sudden widening in SOFR-FF spreads or DXY breakout above daily thresholds will be the early warning signal."}