Live · as of May 29, 2026
Hormuz closure: REALIZED (ongoing)Oil-infra strike: PARTIALLY REALIZEDCable severance: REPAIR-RISK REALIZEDCeasefire: IN EFFECT (not economic)
Brent ~$92/bblHormuz ~11 vessels/dJKM / TTF ~$18 / $16.5Urea >$850/MTFreight ~$2,800/40ft
Structural Risk · Live Watch Board

One board.
Every signal.

The numeric layer beneath the whole platform: 33 monitored metrics — 30 of them the cross-section tradable signals — each with directional thresholds, a status computed live from the comparator, a predictive/confirming/coincident classification, and a scenario mapping. Filter by scenario to see what trips first.

9Critical
15Alert
7Watch
2Nominal
33Tracked
Scenario lens
§Signal / metricNowWatchAlertCrit StatusClassCadenceScenarioPage
6.1 China REE-magnet export YoY MEDIUM -74 % -20 -50 -74 critical predictive monthly weaponization
7.2 US avg effective tariff rate HIGH 17.8 % 10 15 17.8 critical confirming quarterly deglobalization
· Bloc-to-bloc FDI gap MEDIUM -30 % -10 -20 -30 critical quarterly deglobalization
3.2 VLCC freight rate (Gulf) MEDIUM 423,000 $/day 100,000 250,000 400,000 critical coincident weekly insurance
5.3 GCC stored-water reserve MEDIUM 2 days 7 3 2 critical predictive annual/event water
6.2 GCC+Israel Patriot stock drawdown MEDIUM 86 % depleted 30 60 85 critical confirming event defense
6.3 Iran 60%-enriched uranium stockpile MEDIUM 440.9 kg 200 400 440 critical predictive event nuclear
2.2 Flight-to-quality flows (cash + short UST) MEDIUM 70.7 $bn/wk 30 50 70 critical coincident weekly credit
10.3 Spot BTC ETF flow streak MEDIUM -733 $m/day -300 -500 -700 critical coincident daily crypto
· Bab el-Mandeb oil transit HIGH 4 mb/dbaseline 6 4 2 alert weekly chokepoints
5.2 FAO Food Price Index HIGH 130.7 index 120 130 150 alert coincident monthly food
4.1 LME aluminium MEDIUM 3,546 $/t 3,000 3,500 4,000 alert coincident daily property
4.2 GCC construction-cost inflation MEDIUM 12.6 % YoY 5 10 15 alert confirming quarterly property
4.3 Philippines remittance YoY MEDIUM -7.7 % -3 -7 -12 alert confirming monthly labor
5.1 Urea price (global benchmark) HIGH 850 $/t 600 800 1,000 alert predictive monthly food-agriculture
1.1 Gold ETF flow divergence (paper-out vs CB-in) HIGH -12.7 $bn/mo -5 -10 -15 alert predictive monthly gold-fx
2.3 Gulf petrodollar recycling (Saudi+UAE UST/TIC) MEDIUM -16.6 $bn/mo -10 -16 -25 alert confirming monthly credit
8.1 Factor rotation / EM-crowding unwind MEDIUM -1 % wk -0.5 -1 -1.5 alert predictive weekly equities
8.2 Index-vs-stock dispersion (AI-insulation mask) MEDIUM 55 % >50-DMA 60 55 45 alert confirming daily equities
8.3 GCC equity asymmetry (TASI–DFM spread) MEDIUM 21 ppts 10 20 30 alert confirming daily equities
9.2 Stock–bond correlation sign MEDIUM 0.3 corr 0 0.2 0.5 alert predictive weekly cross-asset
9.3 VXEEM — EM-equity vol (durable stress gauge) MEDIUM 35.3 index 25 35 45 alert confirming daily cross-asset
10.1 Deribit 25-delta put–call skew MEDIUM -5 % 25Δ -3 -5 -7 alert predictive intraday crypto
10.2 Perp funding + open-interest regime MEDIUM 49 $bn OI 55 50 45 alert confirming hourly crypto
7.1 Strait of Hormuz oil transit HIGH 14.6 mb/dcurrent period · base 20 18 12 6 watch predictive daily/event chokepoints
2.1 EM sovereign spread (EMBI) vs pre-war HIGH 35 bps 25 50 100 watch predictive weekly credit
3.1 Additional War Risk Premium (Gulf hull) MEDIUM 1 % hull value 0.5 2 5 watch predictive weekly insurance
1.2 DXY surge + dollar–VIX positive regime MEDIUM 100.53 index 100 101 102 watch coincident daily gold-fx
1.3 Yen-carry / BOJ-intervention stress MEDIUM 159 USD/JPY 155 160 165 watch confirming daily/event gold-fx
3.3 P&I war-risk cover withdrawal MEDIUM 2 clubs 1 3 5 watch confirming event insurance
9.1 OVX — crude implied vol (cleanest conflict gauge) HIGH 58 index 40 60 100 watch predictive daily cross-asset
7.3 Red Sea concurrent cable faults MEDIUM 1 2 3 4 ok predictive daily/event digital
· Gold spot (safe-haven gauge) MEDIUM 4,099 $/oz 4,500 5,000 5,500 ok daily gold-fx

Status is computed at build time and re-derived in-browser by the directional comparator: above trips as the value rises (premiums, tariffs, depletion %), below as it falls (chokepoint throughput, reserve days, negative YoY flows). Catalog signals (§ numbered) carry a predictive/confirming/coincident classification; the three supplementary rows extend coverage. Full field specs — input data, lead/lag, affected assets and false positives — live on each section page’s signal panel and in the signal catalog.

Forward catalysts — discussed / announced, not committed

Tracked as upcoming triggers, never scored as facts. Each shows what would confirm it and what it would move if it does.

ESF / Gulf dollar swap lines (~$44bn) discussed
ConfirmAn executed swap-line announcement (Treasury/Fed), not testimony
If confirmedMajor Gulf dollar-liquidity backstop → GCC credit relief, USD funding ease, lower petrodollar-recycling stress
§2 · 2026-05 (Bessent Senate testimony)
PIF international allocation cut 30%→20% reported-unconfirmed
ConfirmPIF official filing/disclosure
If confirmed~$100bn+ reallocation out of US assets → UST long-end + US-equity flow pressure
§2 · 2026-04 (CFR citing Global SWF; no PIF press release)
~$6bn Iran frozen-asset release negotiating
ConfirmOfficial release / sanctions-relief order
If confirmedSanctions de-escalation; reduced USDT-evasion demand could CONCENTRATE enforcement on residual flows
§3/§10 · 2026-05 (under discussion)
Saudi-123 civil-nuclear / enrichment agreement negotiating
ConfirmSigned 123-agreement text / IAEA milestone
If confirmedProliferation-cascade trigger → gold/GVZ/OVX jump, regional risk premium
§6 · 2026 (leaks, no signed text)
CME 24/7 BTC futures & options announced
ConfirmOfficial CME launch notice
If confirmedWeekend crypto-equity basis convergence; changes the perp/CME basis-trade structure and vol regime
§10 · 2026-05-29 (pending official CME notice)
Google Project Waterworth subsea cable (bypasses Middle East) in-progress
ConfirmRoute/landing-station milestones
If confirmedStructural Middle-East cable bypass → long-run digital-resilience reroute, lowers cable-severance tail
§7 · 2026 (announced; years from completion)
The cascade — read top to bottom

The board is an early-warning chain, not a flat list. Predictive signals lead the move (Hormuz transit, AWRP, OVX, EMBI, urea, Deribit skew, factor crowding) — they fire before price. Confirming signals validate a regime already in motion (interceptor drawdown, TASI–DFM spread, perp funding/OI, VXEEM, construction inflation) — size with conviction once they print. Coincident signals nowcast the event itself (VLCC rates, flight-to-quality cash, LME aluminium, FAO index, BTC ETF flows) — confirmation, not edge. The single highest-value, lowest-latency upstream trigger is the OVX–DXY–10Y complex (§9): every downstream financial signal — equities (§8), then crypto (§10) — re-prices after these move. Crypto re-prices last.

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