{"available":true,"as_of":"2026-09-25","axes":[{"regime_type":"CREDIT","state":"STRESSED","score":0.20815492,"confidence":0.3441768,"as_of":"2026-09-25","stale":false,"sector_bps":{"Materials":-19.8,"Financials":-7.4,"Health Care":-10.3,"Industrials":-18.5,"Communication Services":-10.4,"Consumer Staples":2.1,"Energy":-14.9,"Utilities":-14.6,"Information Technology":-39.5,"Real Estate":-0.4,"Consumer Discretionary":-12.2}},{"regime_type":"FED_POLICY","state":"RESTRICTIVE","score":1.049177,"confidence":0.49685767,"as_of":"2026-09-25","stale":false,"sector_bps":{"Health Care":4.6,"Materials":5.9,"Utilities":-5,"Real Estate":-5.2,"Financials":-2.3,"Energy":30.1,"Industrials":6.3,"Information Technology":35.1,"Communication Services":3.9,"Consumer Discretionary":-1.3,"Consumer Staples":-2}},{"regime_type":"FUNDAMENTAL","state":"EXPANSION","score":-0.5615336,"confidence":0.47861776,"as_of":"2026-09-25","stale":false,"sector_bps":{"Energy":-15.2,"Information Technology":-39.2,"Health Care":-7.4,"Utilities":-5.2,"Consumer Staples":2.7,"Real Estate":-2.5,"Materials":-11.8,"Industrials":-14,"Communication Services":-5,"Consumer Discretionary":-5,"Financials":-4.6}},{"regime_type":"INFLATION","state":"ELEVATED","score":0.9097492,"confidence":0.3,"as_of":"2026-09-25","stale":false,"sector_bps":{"Energy":14,"Real Estate":-0.3,"Materials":5.1,"Industrials":3.2,"Financials":-0.2,"Consumer Staples":-1.3,"Utilities":3.8,"Communication Services":0.3,"Information Technology":16.6,"Health Care":1.9,"Consumer Discretionary":-1.3}},{"regime_type":"LIQUIDITY","state":"AMPLE","score":-0.75949985,"confidence":0.51235354,"as_of":"2026-09-25","stale":false,"sector_bps":{"Consumer Staples":0.4,"Information Technology":4.9,"Utilities":3,"Real Estate":4.3,"Industrials":0.1,"Materials":7.9,"Communication Services":11.3,"Health Care":1.9,"Energy":-14.5,"Consumer Discretionary":7.9,"Financials":3.2}},{"regime_type":"REAL_YIELD","state":"POSITIVE","score":1.0934206,"confidence":0.3065256,"as_of":"2026-09-25","stale":false,"sector_bps":{"Information Technology":13.3,"Communication Services":-16.9,"Energy":38.4,"Financials":-6.1,"Consumer Discretionary":-20.9,"Materials":-3.4,"Consumer Staples":-7.1,"Health Care":-13.6,"Utilities":-11.5,"Real Estate":-16.5,"Industrials":-4.8}},{"regime_type":"RECESSION","state":"LOW_RISK","score":-0.45788187,"confidence":0.5783064,"as_of":"2026-09-25","stale":false,"sector_bps":{"Utilities":0.8,"Health Care":-0.3,"Materials":-4.8,"Consumer Discretionary":9.3,"Energy":-32.8,"Industrials":-5.7,"Consumer Staples":7.9,"Real Estate":5.9,"Communication Services":-6.6,"Financials":-0.8,"Information Technology":-35.1}},{"regime_type":"SENTIMENT","state":"BEARISH","score":-0.6381397,"confidence":0.56261456,"as_of":"2026-09-25","stale":false,"sector_bps":{"Health Care":-15.2,"Information Technology":-58.6,"Energy":-16.8,"Consumer Staples":-2.8,"Financials":-24.7,"Utilities":-26.8,"Real Estate":-7.3,"Industrials":-38.1,"Materials":-38.8,"Consumer Discretionary":-32,"Communication Services":-32.2}},{"regime_type":"VOLATILITY","state":"LOW","score":-0.7293646,"confidence":0.51746,"as_of":"2026-09-25","stale":false,"sector_bps":{"Information Technology":-44.8,"Financials":-11.4,"Real Estate":-4.3,"Energy":-17.5,"Materials":-25.8,"Health Care":-9.6,"Utilities":-21.4,"Industrials":-21.8,"Communication Services":-21.3,"Consumer Staples":4.5,"Consumer Discretionary":-13.8}}],"shift":{"state":"MODERATE_RISK_ON","since":"2026-09-23","days_held":3,"previous":"MODERATE_RISK_OFF","previous_days":3,"confidence":0.4867}}