{
  "status": "ok",
  "index": {
    "id": "transmission-lag-gap",
    "code": "FP-TLG",
    "name": "FinPulse Transmission Lag Gap Index",
    "current_value": 25.5,
    "formatted_value": "25.5 pts",
    "unit": "Index Points (0-100)",
    "status": "CATCH-UP ACCELERATION",
    "regime": "CATCH-UP ACCELERATION ACTIVE",
    "formula": "Composite lead-lag divergence across 4 canonical transmission channels (M2->BTC 65d, 2Y->Fed 42d, HY OAS->SPX 21d, CRB->10Y 28d)",
    "models": {
      "m2_btc": {
        "asset": "BTC",
        "lead_metric": "Global M2",
        "lag_days": 65,
        "gap_pct": "+14.2%",
        "signal": "BULLISH EXPANSION"
      },
      "yield_fed": {
        "asset": "FED",
        "lead_metric": "US 2-Year Yield",
        "lag_days": 42,
        "gap_bps": "-54 bps",
        "signal": "RATE CUT DRAG"
      },
      "hy_spx": {
        "asset": "SPX",
        "lead_metric": "HY Credit OAS",
        "lag_days": 21,
        "gap_pct": "+3.8%",
        "signal": "NEUTRAL RISK PREMIUM"
      },
      "crb_us10y": {
        "asset": "US10Y",
        "lead_metric": "CRB Commodity Momentum",
        "lag_days": 28,
        "gap_bps": "+18 bps",
        "signal": "YIELD STEEPENING"
      }
    },
    "market_implication": "Transmission gap index shows lagging markets actively repricing toward their historical lead trajectories, especially in macro liquidity sensitive assets.",
    "methodology": "Continuous evaluation against rolling econometric regression curves with α = 0.05 null hypothesis refutation.",
    "sparkline": [
      18.2,
      21,
      24.1,
      25.5
    ]
  },
  "generated_at": "2026-10-23 04:10:34 UTC"
}