Fed balance sheet, M2 money supply, Treasury yields at 2Y, 10Y and 30Y, 10Y breakeven inflation, dollar strength (the UUP ETF), and composite net liquidity with trend direction across all four, plus global central-bank balance-sheet overlay (BOJ total assets, ECB total assets, Eurozone M3) for cross-region liquidity context; and the latest US releases as published: the Employment Situation (nonfarm payrolls and the unemployment rate), the Consumer Price Index and the weekly jobless claims, each with what it revised and the next release date
Fed Balance Sheet: Federal Reserve total assets, in millions of US dollars: the Wednesday level from the Federal Reserve Board's H.4.1 release, published each Thursday afternoon. Source: Federal Reserve Board (H.4.1), Weekly, each Thursday evening.
Treasury General Account: The Treasury General Account at the Federal Reserve, in millions of US dollars: the week average from the Federal Reserve Board's H.4.1 release, published each Thursday afternoon. Source: Federal Reserve Board (H.4.1), Weekly, each Thursday evening.
Net Liquidity: Net liquidity proxy - Fed balance sheet minus reverse repo and Treasury account balances Source: PreReason's calculation from the Federal Reserve Board's H.4.1 (balance sheet, TGA) and the New York Fed (reverse repo), Recomputed hourly; its inputs weekly (H.4.1) and each business day (reverse repo).
M2 Money Supply: United States M2 broad money supply, seasonally adjusted, in billions of US dollars: monthly, from the Federal Reserve Board's H.6 release, published on the fourth Tuesday of the following month. The Board revises earlier months with each release, and the series here is kept at its current values. Source: Federal Reserve Board (H.6), Monthly, the fourth Tuesday.
2-Year Treasury Yield: The 2-year Treasury par yield, in percent, from the US Treasury's Daily Treasury Par Yield Curve Rates. Business days, priced at about 3:30 in the afternoon, New York time. Tracks the expected near-term Fed policy path. Read from FRED's copy of these rates from May 2023 until 2026-09-28.
10-Year Treasury: The 10-year Treasury par yield, in percent, from the US Treasury's Daily Treasury Par Yield Curve Rates. Business days, priced at about 3:30 in the afternoon, New York time. Read from FRED's copy of these rates until 2026-09-28, which is where its history before 1990 comes from. Source: U.S. Department of the Treasury, Business days, each evening.
30-Year Treasury Yield: The 30-year Treasury par yield, in percent, from the US Treasury's Daily Treasury Par Yield Curve Rates. Business days, priced at about 3:30 in the afternoon, New York time. Long-end real growth and inflation risk premium. Read from FRED's copy of these rates from May 2023 until 2026-09-28.
Yield Curve Spread: The 10-year Treasury par yield minus the 2-year, PreReason's calculation from the US Treasury's Daily Treasury Par Yield Curve Rates: its 10 Yr column minus its 2 Yr on the same day. Business days, priced at about 3:30 in the afternoon, New York time. Below zero the curve is inverted. Read from FRED's copy of this spread until 2026-09-30, which is where its history before 1990 comes from. Source: U.S. Department of the Treasury, Business days, each evening.
UUP (US Dollar ETF): Share price of the Invesco DB US Dollar Index Bullish Fund (UUP), a proxy for the dollar index (DXY), not the index level (updates every 15 min) Source: Finnhub, Every 15 min (market hours).
10-Year Breakeven Inflation: The 10-year breakeven inflation rate, in percent: PreReason's calculation, the US Treasury's 10-year par yield minus its 10-year real par yield on the same day, from its Daily Treasury Par Yield Curve Rates and Daily Treasury Par Real Yield Curve Rates. Business days. Read from FRED's copy of the same numbers from May 2023 until 2026-10-01.
BOJ Balance: The Bank of Japan's total assets, monthly, as FRED publishes them from the Bank of Japan's accounts (JPNASSETS). Carried inside the macro snapshot and cross regime briefings.
ECB Total Assets: The Eurosystem's total assets, in millions of euros: weekly, from the European Central Bank's own statistics (SDMX), its weekly financial statement.
EU M3: The euro area's M3 money supply, in euros: monthly, from the European Central Bank's own statistics (SDMX), posted about four weeks after the month ends.
US Total Public Debt: Total public debt outstanding of the United States, in US dollars: each business day, from the US Treasury's own FiscalData Debt to the Penny dataset.
Net Liquidity: Net liquidity proxy - Fed balance sheet minus reverse repo and Treasury account balances Source: PreReason's calculation from the Federal Reserve Board's H.4.1 (balance sheet, TGA) and the New York Fed (reverse repo), Recomputed hourly; its inputs weekly (H.4.1) and each business day (reverse repo).
Treasury 10Y minus 3M Spread: Difference between the 10-year and 3-month Treasury yields (treasury-10y minus treasury-3mo). The spread behind the NY Fed's recession probability model; below zero the curve is inverted.
Correlations
Measured over 30 days:
UUP (US Dollar ETF) and Net Liquidity
Fed Balance Sheet and Treasury General Account
Questions about the Macro Snapshot briefing
What is in the Macro Snapshot briefing?
Fed balance sheet, M2 money supply, Treasury yields at 2Y, 10Y and 30Y, 10Y breakeven inflation, dollar strength (the UUP ETF), and composite net liquidity with trend direction across all four, plus global central-bank balance-sheet overlay (BOJ total assets, ECB total assets, Eurozone M3) for cross-region liquidity context; and the latest US releases as published: the Employment Situation (nonfarm payrolls and the unemployment rate), the Consumer Price Index and the weekly jobless claims, each with what it revised and the next release date. It holds 16 metrics and 2 correlation pairs over 30 days, each figure with the date it describes and the source it came from.
Which plan reads the Macro Snapshot briefing?
Every PreReason account reads it, the free plan included.
How does an AI agent read the Macro Snapshot briefing?
Over MCP, with the get_context tool and the briefing id macro.snapshot. Over REST, with GET https://api.prereason.com/api/context?briefing=macro.snapshot and an API key, as Markdown (the default) or JSON (format=json).
Can I read the Macro Snapshot briefing as of a past date?
Yes, with date=YYYY-MM-DD. A dated read serves only periods released by that date, and each figure says when it was public, or that it may be a later revision. How far back depends on the plan; on the Free plan: Today + last 30 days. Higher plans reach further.
Where does the data in the Macro Snapshot briefing come from?
Each figure names its source and the date it describes. The data sources page (https://www.prereason.com/data-sources) lists every source PreReason reads.
API: GET /api/context?briefing=macro.snapshot
Format options: ?format=markdown (default) or ?format=json