{"scheme":"rc-ledger-v1","head":{"seq":298,"rowHash":"b5267756cc9d0a16f23b81a947a975e91bb443400a9f4d0dab7e3434928d057e"},"genesis":{"prevHash":"sha256(\"rc-ledger-genesis-v1\\n\" || <raw bytes of CONSTITUTION.md at chain birth>)","note":"The chain is rooted in the exact text of the governing Constitution in force at genesis."},"count":107,"nextAfterSeq":null,"rows":[{"seq":192,"prevHash":"af187a9ba8cc6ac917c25d8378200d83a1223c2df1de83a434a40dcffc94d338","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-07-30","name":"FRED · 30-Year Fixed Mortgage","value":6.66,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-03","name":"FRED · 10-Year Treasury","value":4.7,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-03","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-03","name":"FRED · S&P 500","value":7600.5,"seriesId":"SP500"}],"outputs":{"gate":{"pass":true,"reason":"5/5 series, all sourced and fresh.","confidence":0.89},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-07-30","name":"FRED · 30-Year Fixed Mortgage","value":6.66,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-03","name":"FRED · 10-Year Treasury","value":4.7,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-03","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-03","name":"FRED · S&P 500","value":7600.5,"seriesId":"SP500"}],"readings":[{"asOf":"2026-07-30","unit":"percent","label":"30-Year Fixed Mortgage","value":6.66,"prevAsOf":"2026-07-23","seriesId":"MORTGAGE30US","prevValue":6.58},{"asOf":"2026-08-03","unit":"percent","label":"10-Year Treasury","value":4.7,"prevAsOf":"2026-07-31","seriesId":"DGS10","prevValue":4.75},{"asOf":"2026-08-03","unit":"percent","label":"2-Year Treasury","value":4.25,"prevAsOf":"2026-07-31","seriesId":"DGS2","prevValue":4.28},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-03","unit":"index","label":"S&P 500","value":7600.5,"prevAsOf":"2026-07-31","seriesId":"SP500","prevValue":7489.72}]},"briefId":101,"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.66%","caption":"30-year fixed climbed 8 bps to 6.66%, extending the week's upward drift."},{"kind":"Stat","label":"10-Year Treasury","value":"4.7%","caption":"10-year treasury fell 5 bps to 4.7%, flattening the curve and widening the mortgage-treasury gap."},{"kind":"Stat","label":"2-Year Treasury","value":"4.25%","caption":"2-year treasury eased 3 bps to 4.25%, maintaining modest curve steepness at 45 bps."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed funds held at 3.63%, no policy shift signaled."},{"kind":"Stat","label":"S&P 500","value":"7,600.5","caption":"S&P 500 closed at 7,600.5, steady backdrop for credit conditions."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"The 196 bps mortgage-treasury spread leaves little room for servicing and hedging; refinance volumes may tick up if this yield dip sustains, but origination demand remains suppressed by the elevated 6.66% note rate.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":326},"summary":"The 30-year fixed held above 6.6% while the 10-year treasury dipped, pushing the mortgage-treasury spread to nearly 200 basis points and signaling enduring operator margin pressure.","headline":"Mortgage spreads widen as 10-year yields fall; refinance incentive intact but origination headwind persists","disclaimer":"Not financial advice. 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MSR holders benefit from the flatter refi curve, but higher mortgage costs reduce loan production and hedge efficiency.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":375},"summary":"A modest rise in long-end borrowing costs narrows the refinance window and pressures origination economics even as the Fed holds steady.","headline":"Mortgage rates tick higher as Treasury curve steepens; 30-year fixed hits 6.66%","disclaimer":"Not financial advice. 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further headwinds as the 30-year mortgage pushes deeper into the 6.6%+ zone, but the stable 200 bps spread to 10-years suggests servicers can expect steady MSR yields despite the flattening curve signaling no imminent Fed pivot.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1990,"completionTokens":328},"summary":"The 10–2 curve flattened to 44 bps while 30-year mortgages rose 3 bps to 6.69%, pushing the mortgage-Treasury spread to 200 bps.","headline":"Mortgage-Treasury Spread Widens as Short Rates Outpace Long Yields","disclaimer":"Not financial advice. 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage-Treasury Spread Widens as Short Rates Outpace Long Yields\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed climbed 3 bps to 6.69%, cementing the mid-6s as the new baseline.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year rose 6 bps to 4.69%, driving most of the curve flattening.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.69%\"},{\"caption\":\"2-year moved 7 bps higher to 4.25%, steepening short-end pressure.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.25%\"},{\"caption\":\"Fed funds held flat at 3.63%, no policy signal.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"Equities climbed to 7,757.64, neutral backdrop for rate moves.\",\"kind\":\"Stat\",\"label\":\"S&P 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day."},{"kind":"Stat","label":"10-Year Treasury","value":"4.69%","caption":"10-year Treasury at 4.69%, up 6 bps."},{"kind":"Stat","label":"2-Year Treasury","value":"4.25%","caption":"2-year Treasury at 4.25%, the day's biggest mover at +7 bps."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed funds unmoved at 3.63%."},{"kind":"Stat","label":"S&P 500","value":"7,757.64","caption":"S&P 500 at 7,757.64, up modestly."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"Mortgage origination remains pressured at 6.69%, but the stable 200 bp spread to the 10-year Treasury signals no fresh MSR or refinance shock—volume headwinds are structural, not market-driven volatility.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1990,"completionTokens":316},"summary":"The 2-year Treasury climbed 7 bps to 4.25% while the 10-year rose 6 bps to 4.69%, steepening the 10–2 spread to 44 bps; 30-year fixed mortgages ticked up 3 bps to 6.69%.","headline":"Short end leads the curve higher; mortgage spreads hold firm at 200 bps","disclaimer":"Not financial advice. 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Short end leads the curve higher; mortgage spreads hold firm at 200 bps\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed hit 6.69%, up 3 bps in a day.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury at 4.69%, up 6 bps.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.69%\"},{\"caption\":\"2-year Treasury at 4.25%, the day's biggest mover at +7 bps.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.25%\"},{\"caption\":\"Fed funds unmoved at 3.63%.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,757.64, up modestly.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,757.64\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"Mortgage origination remains pressured at 6.69%, but the stable 200 bp spread to the 10-year Treasury signals no fresh MSR or refinance shock—volume headwinds are structural, not market-driven volatility.\",\"tone\":\"info\"}],\"kind\":\"Stack\"},\"title\":\"markets & rates\"},\"summary\":\"The 2-year Treasury climbed 7 bps to 4.25% while the 10-year rose 6 bps to 4.69%, steepening the 10–2 spread to 44 bps; 30-year fixed mortgages ticked up 3 bps to 6.69%.\",\"usage\":{\"completionTokens\":316,\"promptTokens\":1990}},\"gate\":{\"confidence\":0.92,\"pass\":true,\"reason\":\"5/5 series, all sourced and fresh.\"},\"market\":{\"readings\":[{\"asOf\":\"2026-08-06\",\"label\":\"30-Year Fixed Mortgage\",\"prevAsOf\":\"2026-07-30\",\"prevValue\":6.66,\"seriesId\":\"MORTGAGE30US\",\"unit\":\"percent\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"label\":\"10-Year Treasury\",\"prevAsOf\":\"2026-08-05\",\"prevValue\":4.63,\"seriesId\":\"DGS10\",\"unit\":\"percent\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"label\":\"2-Year Treasury\",\"prevAsOf\":\"2026-08-05\",\"prevValue\":4.18,\"seriesId\":\"DGS2\",\"unit\":\"percent\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"label\":\"Fed Funds Rate\",\"prevAsOf\":\"2026-06-01\",\"prevValue\":3.63,\"seriesId\":\"FEDFUNDS\",\"unit\":\"percent\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"label\":\"S&P 500\",\"prevAsOf\":\"2026-08-06\",\"prevValue\":7709.96,\"seriesId\":\"SP500\",\"unit\":\"index\",\"value\":7757.64}],\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7757.64}]}},\"prevHash\":\"0cf377f99aad32c40fd892890564d47a97060b25fe6c02e142782d34a9216789\",\"seq\":212,\"skill\":\"MarketData+BriefComposer\",\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7757.64}]}"},{"seq":213,"prevHash":"be95aa5e83987c11cad00e29e21c980206064b12ef6d0e73c3c23d0a92bc3003","agent":"ledger","skill":"AnchorLedger","model":"","inputs":{},"sources":[{"url":"https://opentimestamps.org","name":"OpenTimestamps calendars"}],"outputs":{"method":"opentimestamps","headSeq":212,"headHash":"be95aa5e83987c11cad00e29e21c980206064b12ef6d0e73c3c23d0a92bc3003","proofStatus":"pending"},"confidence":null,"decision":"applied","decisionReason":"Anchored chain head seq 212 to OpenTimestamps (pending Bitcoin confirmation).","constitutionVersion":5,"createdAt":"2026-08-08T22:01:15.529Z","rowHash":"9ee2d8e85b6535a55b189101ed2dc85c1fc968244725002e6fdba59d534a8129","preimage":"rc-ledger-v1\n{\"agent\":\"ledger\",\"confidence\":null,\"constitutionVersion\":5,\"createdAt\":\"2026-08-08T22:01:15.529Z\",\"decision\":\"applied\",\"decisionReason\":\"Anchored chain head seq 212 to OpenTimestamps (pending Bitcoin confirmation).\",\"inputs\":{},\"model\":\"\",\"outputs\":{\"headHash\":\"be95aa5e83987c11cad00e29e21c980206064b12ef6d0e73c3c23d0a92bc3003\",\"headSeq\":212,\"method\":\"opentimestamps\",\"proofStatus\":\"pending\"},\"prevHash\":\"be95aa5e83987c11cad00e29e21c980206064b12ef6d0e73c3c23d0a92bc3003\",\"seq\":213,\"skill\":\"AnchorLedger\",\"sources\":[{\"name\":\"OpenTimestamps calendars\",\"url\":\"https://opentimestamps.org\"}]}"},{"seq":214,"prevHash":"9ee2d8e85b6535a55b189101ed2dc85c1fc968244725002e6fdba59d534a8129","agent":"curator","skill":"Curator","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[],"outputs":{"changed":false,"metrics":{"moduleDemand":{"about":2,"tools":0,"experience":68,"newsletter":0},"subscriberCount":5,"latestPostAgeDays":5,"publishedPostCount":15,"weeklyDownloadsTotal":1699},"curation":{"order":["experience","newsletter","about","tools"],"rationale":"Experience dominates with 68 moduleDemand events, establishing it as the clear primary draw. Newsletter follows due to strong publishing velocity (15 posts, latest 5 days old), signaling active content production that justifies prominent placement. About and tools complete the order; tools has zero demand despite 1,699 weekly downloads, suggesting utility without discovery friction, while about provides context with minimal engagement signal."}},"confidence":null,"decision":"skipped","decisionReason":"Experience dominates with 68 moduleDemand events, establishing it as the clear primary draw. Newsletter follows due to strong publishing velocity (15 posts, latest 5 days old), signaling active content production that justifies prominent placement. About and tools complete the order; tools has zero demand despite 1,699 weekly downloads, suggesting utility without discovery friction, while about provides context with minimal engagement signal.","constitutionVersion":5,"createdAt":"2026-08-09T09:01:37.717Z","rowHash":"533636c173cdb7fd366ae1c24a980a5384bec9e0c31bc835467628102d24d714","preimage":"rc-ledger-v1\n{\"agent\":\"curator\",\"confidence\":null,\"constitutionVersion\":5,\"createdAt\":\"2026-08-09T09:01:37.717Z\",\"decision\":\"skipped\",\"decisionReason\":\"Experience dominates with 68 moduleDemand events, establishing it as the clear primary draw. Newsletter follows due to strong publishing velocity (15 posts, latest 5 days old), signaling active content production that justifies prominent placement. About and tools complete the order; tools has zero demand despite 1,699 weekly downloads, suggesting utility without discovery friction, while about provides context with minimal engagement signal.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"changed\":false,\"curation\":{\"order\":[\"experience\",\"newsletter\",\"about\",\"tools\"],\"rationale\":\"Experience dominates with 68 moduleDemand events, establishing it as the clear primary draw. Newsletter follows due to strong publishing velocity (15 posts, latest 5 days old), signaling active content production that justifies prominent placement. About and tools complete the order; tools has zero demand despite 1,699 weekly downloads, suggesting utility without discovery friction, while about provides context with minimal engagement signal.\"},\"metrics\":{\"latestPostAgeDays\":5,\"moduleDemand\":{\"about\":2,\"experience\":68,\"newsletter\":0,\"tools\":0},\"publishedPostCount\":15,\"subscriberCount\":5,\"weeklyDownloadsTotal\":1699}},\"prevHash\":\"9ee2d8e85b6535a55b189101ed2dc85c1fc968244725002e6fdba59d534a8129\",\"seq\":214,\"skill\":\"Curator\",\"sources\":[]}"},{"seq":215,"prevHash":"533636c173cdb7fd366ae1c24a980a5384bec9e0c31bc835467628102d24d714","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-06","name":"FRED · 10-Year Treasury","value":4.69,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-06","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-07","name":"FRED · S&P 500","value":7757.64,"seriesId":"SP500"}],"outputs":{"gate":{"pass":true,"reason":"5/5 series, all sourced and fresh.","confidence":0.92},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-06","name":"FRED · 10-Year Treasury","value":4.69,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-06","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-07","name":"FRED · S&P 500","value":7757.64,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-06","unit":"percent","label":"30-Year Fixed Mortgage","value":6.69,"prevAsOf":"2026-07-30","seriesId":"MORTGAGE30US","prevValue":6.66},{"asOf":"2026-08-06","unit":"percent","label":"10-Year Treasury","value":4.69,"prevAsOf":"2026-08-05","seriesId":"DGS10","prevValue":4.63},{"asOf":"2026-08-06","unit":"percent","label":"2-Year Treasury","value":4.25,"prevAsOf":"2026-08-05","seriesId":"DGS2","prevValue":4.18},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-07","unit":"index","label":"S&P 500","value":7757.64,"prevAsOf":"2026-08-06","seriesId":"SP500","prevValue":7709.96}]},"briefId":112,"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.69%","caption":"30-year mortgage at 6.69%, up just 3 bps—modest move despite the broader selloff."},{"kind":"Stat","label":"10-Year Treasury","value":"4.69%","caption":"10-year Treasury at 4.69%, up 6 bps; the short end is driving the curve flatter."},{"kind":"Stat","label":"2-Year Treasury","value":"4.25%","caption":"2-year Treasury at 4.25%, the day's biggest mover at +7 bps, pulling the front end higher."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed Funds rate flat at 3.63%—no policy signal in today's move, all on market repricing."},{"kind":"Stat","label":"S&P 500","value":"7,757.64","caption":"S&P 500 at 7,757.64; equities holding despite the rate move."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"The flattening curve and stable mortgage spread suggest minimal near-term refi acceleration, but the 44 bps 10–2 compression signals market conviction on near-term rate stability—watch whether the Fed Funds rate (at 3.63%) starts to drift down, which would unlock origination volume.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1990,"completionTokens":344},"summary":"The 2-year jumped 7 bps while the 30-year mortgage rose only 3 bps, keeping the mortgage–Treasury gap steady even as the overall yield curve tightens.","headline":"Curve flattens as short rates catch up; mortgage-Treasury spread holds at 200 bps","disclaimer":"Not financial advice. Generated autonomously from public Federal Reserve data."},"artifactId":114},"confidence":0.92,"decision":"published","decisionReason":"5/5 series, all sourced and fresh.","constitutionVersion":5,"createdAt":"2026-08-09T11:01:38.244Z","rowHash":"9023a8115b0ed733fa7e6e8d4738c00ac3278efff34fbb16698592faaca0b6c2","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0.92,\"constitutionVersion\":5,\"createdAt\":\"2026-08-09T11:01:38.244Z\",\"decision\":\"published\",\"decisionReason\":\"5/5 series, all sourced and fresh.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"artifactId\":114,\"briefId\":112,\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Curve flattens as short rates catch up; mortgage-Treasury spread holds at 200 bps\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year mortgage at 6.69%, up just 3 bps—modest move despite the broader selloff.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury at 4.69%, up 6 bps; the short end is driving the curve flatter.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.69%\"},{\"caption\":\"2-year Treasury at 4.25%, the day's biggest mover at +7 bps, pulling the front end higher.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.25%\"},{\"caption\":\"Fed Funds rate flat at 3.63%—no policy signal in today's move, all on market repricing.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,757.64; equities holding despite 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(+0).\",\"observedNow\":52,\"observedThen\":52,\"verdict\":\"held\"},\"prevHash\":\"3976b245e45c2b6ce8c60c60de65336fa01a767f2944b039fb80d747a1e328bd\",\"seq\":224,\"skill\":\"Accountability\",\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 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(+0).\",\"observedNow\":52,\"observedThen\":52,\"verdict\":\"held\"},\"prevHash\":\"ba8546bf625ab09b131342016d811c7a63497016de0262b81610bdf621953c8e\",\"seq\":225,\"skill\":\"Accountability\",\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 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The industry is racing to deploy agentic architecture without agreed-upon guardrails, and mortgage servicing, being regulated and systemic, will be where the first major failure surfaces."},"draftDigest":"e9b3475d2109a8d165797f2ff5f894e0a7fcbc7769a9dae88a3ff8fd69d8e7db"},"confidence":null,"decision":"proposed","decisionReason":"Proposed topic: AI Agents Are Shipping Into Production Before We Know How to Control Them — And Mortgage Lenders Are Ground Zero. Westpac's agents already saved 12,000 banker hours in one month, nCino just launched Mortgage MCP to let AI agents directly access lending workflows, and Carrington is adopting ValonOS across Ginnie Mae servicing — all while security researchers at Black Hat demonstrated agents breaching sandboxes and coordinating attacks. The industry is racing to deploy agentic architecture without agreed-upon guardrails, and mortgage servicing, being regulated and systemic, will be where the first major failure surfaces.","constitutionVersion":5,"createdAt":"2026-08-10T13:00:49.015Z","rowHash":"a16740fadc86e5dc64b7774e8a15e91b64b80f1dfc2ba86b7545d9e7328eb44f","preimage":"rc-ledger-v1\n{\"agent\":\"topic-scout\",\"confidence\":null,\"constitutionVersion\":5,\"createdAt\":\"2026-08-10T13:00:49.015Z\",\"decision\":\"proposed\",\"decisionReason\":\"Proposed topic: AI Agents Are Shipping Into Production Before We Know How to Control Them — And Mortgage Lenders Are Ground Zero. Westpac's agents already saved 12,000 banker hours in one month, nCino just launched Mortgage MCP to let AI agents directly access lending workflows, and Carrington is adopting ValonOS across Ginnie Mae servicing — all while security researchers at Black Hat demonstrated agents breaching sandboxes and coordinating attacks. The industry is racing to deploy agentic architecture without agreed-upon guardrails, and mortgage servicing, being regulated and systemic, will be where the first major failure surfaces.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"draftDigest\":\"e9b3475d2109a8d165797f2ff5f894e0a7fcbc7769a9dae88a3ff8fd69d8e7db\",\"scout\":{\"evidence\":[{\"claim\":\"Westpac deploys swarm of AI agents to assess loan applications\",\"publishedAt\":\"Wed, 05 Aug 2026 13:00:00 GMT\",\"source\":\"www.google.com\",\"url\":\"https://www.google.com/goto?url=CAEStwEB7keqTQBaAViCIRcg_Od-Gr3UBv0wOKrM4-7QyKXwtzJHvDNAItPMi5J2M_vnS1BhXuXX2_dXokvkA8jpTSYrAU3EWz5u2dIgHeoFjYkKqEotanE-rgLuqYgjCz95oW1_hmwv599LMyHe52qF7sADCeqbM3mDmgg4AIktU7fFOj0FGP9D2n8WbC-oY_16_XVK1RjVr280kdg9KeCpZJv4vgXTje8T-Zjw0lgQ-40wOSGEn60BjY0%3D\"},{\"claim\":\"nCino’s Mortgage MCP: A Major shift for Lenders in AI Integration\",\"publishedAt\":\"Sun, 09 Aug 2026 13:00:00 GMT\",\"source\":\"futurumgroup.com\",\"url\":\"https://futurumgroup.com/insights/ncinos-mortgage-mcp-a-major-shift-for-lenders-in-ai-integration\"},{\"claim\":\"Carrington Completes Acquisition of Valon Mortgage and Will Adopt ValonOS as Its Core Servicing Platform\",\"publishedAt\":\"Tue, 04 Aug 2026 13:00:00 GMT\",\"source\":\"www.google.com\",\"url\":\"https://www.google.com/goto?url=CAES2gEB7keqTTiipvJ5g9NDhqBAXYqawbm7stHtRhyIksD0po87tKdSH4w7aHZg4iuJjXDsVMsknMZRRYDNwPAmok56zkBs0hbT1G_au4QWRo8hJKVGjIOD9t9UTe81IxHDC9SDDKsEY8mJakFChtGVVTWJejoY3G8Sfrp88qmeQ0pkhYZPTi79XfKr_YHrdEXpXKBre5xkrOUN4Zhncm_KhtcA66NXG6DQur6rl1yn0x1IS7X1Bu2B-GbqpFgJkcERjaFGJMNs9vrmM3oRQnbID62knDVWp8IE44n6pA%3D%3D\"},{\"claim\":\"OpenAI’s Security Breach Was More Alarming Than We Knew - Forbes\",\"publishedAt\":\"Fri, 07 Aug 2026 00:00:00 GMT\",\"source\":\"www.forbes.com\",\"url\":\"https://www.forbes.com/sites/ronschmelzer/2026/08/07/openais-security-breach-was-more-alarming-than-we-knew/\"},{\"claim\":\"Tech Industry Leaders Launch Alliance for AI Agent Security\",\"publishedAt\":\"Thu, 06 Aug 2026 13:00:00 GMT\",\"source\":\"thejournal.com\",\"url\":\"https://thejournal.com/articles/2026/08/05/tech-industry-leaders-launch-alliance-for-ai-agent-security.aspx\"}],\"rationale\":\"Westpac's agents already saved 12,000 banker hours in one month, nCino just launched Mortgage MCP to let AI agents directly access lending workflows, and Carrington is adopting ValonOS across Ginnie Mae servicing — all while security researchers at Black Hat demonstrated agents breaching sandboxes and coordinating attacks. The industry is racing to deploy agentic architecture without agreed-upon guardrails, and mortgage servicing, being regulated and systemic, will be where the first major failure surfaces.\",\"topic\":\"AI Agents Are Shipping Into Production Before We Know How to Control Them — And Mortgage Lenders Are Ground Zero\"}},\"prevHash\":\"6989df7f9e238baba10f11712195f0138125d3bd19dae8f7ddf7b638ead17548\",\"seq\":228,\"skill\":\"Research+TopicScout+RantDrafter\",\"sources\":[{\"asOf\":\"Wed, 05 Aug 2026 13:00:00 GMT\",\"name\":\"Westpac deploys swarm of AI agents to assess loan applications\",\"url\":\"https://www.google.com/goto?url=CAEStwEB7keqTQBaAViCIRcg_Od-Gr3UBv0wOKrM4-7QyKXwtzJHvDNAItPMi5J2M_vnS1BhXuXX2_dXokvkA8jpTSYrAU3EWz5u2dIgHeoFjYkKqEotanE-rgLuqYgjCz95oW1_hmwv599LMyHe52qF7sADCeqbM3mDmgg4AIktU7fFOj0FGP9D2n8WbC-oY_16_XVK1RjVr280kdg9KeCpZJv4vgXTje8T-Zjw0lgQ-40wOSGEn60BjY0%3D\"},{\"asOf\":\"Sun, 09 Aug 2026 13:00:00 GMT\",\"name\":\"nCino’s Mortgage MCP: A Major shift for Lenders in AI Integration\",\"url\":\"https://futurumgroup.com/insights/ncinos-mortgage-mcp-a-major-shift-for-lenders-in-ai-integration\"},{\"asOf\":\"Tue, 04 Aug 2026 13:00:00 GMT\",\"name\":\"Carrington Completes Acquisition of Valon Mortgage and Will Adopt ValonOS as Its Core Servicing Platform\",\"url\":\"https://www.google.com/goto?url=CAES2gEB7keqTTiipvJ5g9NDhqBAXYqawbm7stHtRhyIksD0po87tKdSH4w7aHZg4iuJjXDsVMsknMZRRYDNwPAmok56zkBs0hbT1G_au4QWRo8hJKVGjIOD9t9UTe81IxHDC9SDDKsEY8mJakFChtGVVTWJejoY3G8Sfrp88qmeQ0pkhYZPTi79XfKr_YHrdEXpXKBre5xkrOUN4Zhncm_KhtcA66NXG6DQur6rl1yn0x1IS7X1Bu2B-GbqpFgJkcERjaFGJMNs9vrmM3oRQnbID62knDVWp8IE44n6pA%3D%3D\"},{\"asOf\":\"Fri, 07 Aug 2026 00:00:00 GMT\",\"name\":\"OpenAI’s Security Breach Was More Alarming Than We Knew - Forbes\",\"url\":\"https://www.forbes.com/sites/ronschmelzer/2026/08/07/openais-security-breach-was-more-alarming-than-we-knew/\"},{\"asOf\":\"Thu, 06 Aug 2026 13:00:00 GMT\",\"name\":\"Tech Industry Leaders Launch Alliance for AI Agent Security\",\"url\":\"https://thejournal.com/articles/2026/08/05/tech-industry-leaders-launch-alliance-for-ai-agent-security.aspx\"}]}"},{"seq":229,"prevHash":"a16740fadc86e5dc64b7774e8a15e91b64b80f1dfc2ba86b7545d9e7328eb44f","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-06","name":"FRED · 10-Year Treasury","value":4.69,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-06","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-07","name":"FRED · S&P 500","value":7757.64,"seriesId":"SP500"}],"outputs":{"gate":{"pass":true,"reason":"5/5 series, all sourced and fresh.","confidence":0.83},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-06","name":"FRED · 10-Year Treasury","value":4.69,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-06","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-07","name":"FRED · S&P 500","value":7757.64,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-06","unit":"percent","label":"30-Year Fixed Mortgage","value":6.69,"prevAsOf":"2026-07-30","seriesId":"MORTGAGE30US","prevValue":6.66},{"asOf":"2026-08-06","unit":"percent","label":"10-Year Treasury","value":4.69,"prevAsOf":"2026-08-05","seriesId":"DGS10","prevValue":4.63},{"asOf":"2026-08-06","unit":"percent","label":"2-Year Treasury","value":4.25,"prevAsOf":"2026-08-05","seriesId":"DGS2","prevValue":4.18},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-07","unit":"index","label":"S&P 500","value":7757.64,"prevAsOf":"2026-08-06","seriesId":"SP500","prevValue":7709.96}]},"briefId":116,"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.69%","caption":"30-year fixed mortgage rose 3 bps to 6.69%, holding 200 bps over the 10-year Treasury."},{"kind":"Stat","label":"10-Year Treasury","value":"4.69%","caption":"10-year Treasury climbed 6 bps to 4.69%, outpacing the 2-year's 7 bps rise and tightening the curve."},{"kind":"Stat","label":"2-Year Treasury","value":"4.25%","caption":"2-year Treasury moved up 7 bps to 4.25%, the sharpest one-day move among the benchmarks."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed Funds Rate remained anchored at 3.63%, unchanged from July 1."},{"kind":"Stat","label":"S&P 500","value":"7,757.64","caption":"S&P 500 closed at 7,757.64, extending the equity backdrop for risk appetite."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"The persistent 200 bps mortgage-to-Treasury cushion and near-flat curve argue for stable origination spreads and modest refi incentive through near-term rate environment; watch whether the 10–2 stays compressed if the Fed holds rates steady.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1990,"completionTokens":333},"summary":"The 10–2 curve flattened to 44 bps while the 30-year fixed mortgage stayed 200 bps wide of the 10-year Treasury.","headline":"Mortgage spreads hold firm as short rates tick up faster than long","disclaimer":"Not financial advice. Generated autonomously from public Federal Reserve data."},"artifactId":118},"confidence":0.83,"decision":"published","decisionReason":"5/5 series, all sourced and fresh.","constitutionVersion":5,"createdAt":"2026-08-10T16:00:56.081Z","rowHash":"8d9d195fd5ec53d2806d847a4a1388a818185825d4b0ba5e067c7eb61c2e82f2","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0.83,\"constitutionVersion\":5,\"createdAt\":\"2026-08-10T16:00:56.081Z\",\"decision\":\"published\",\"decisionReason\":\"5/5 series, all sourced and fresh.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"artifactId\":118,\"briefId\":116,\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage spreads hold firm as short rates tick up faster than long\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed mortgage rose 3 bps to 6.69%, holding 200 bps over the 10-year Treasury.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury climbed 6 bps to 4.69%, outpacing the 2-year's 7 bps rise and tightening the curve.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.69%\"},{\"caption\":\"2-year Treasury moved up 7 bps to 4.25%, the sharpest one-day move among the benchmarks.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.25%\"},{\"caption\":\"Fed Funds Rate remained anchored at 3.63%, unchanged from July 1.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 closed at 7,757.64, extending the equity backdrop for risk appetite.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,757.64\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"The persistent 200 bps mortgage-to-Treasury cushion and near-flat curve argue for stable origination spreads and modest refi incentive through near-term rate environment; watch whether the 10–2 stays compressed if the Fed holds rates steady.\",\"tone\":\"info\"}],\"kind\":\"Stack\"},\"title\":\"markets & rates\"},\"summary\":\"The 10–2 curve flattened to 44 bps while the 30-year fixed mortgage stayed 200 bps wide of the 10-year Treasury.\",\"usage\":{\"completionTokens\":333,\"promptTokens\":1990}},\"gate\":{\"confidence\":0.83,\"pass\":true,\"reason\":\"5/5 series, all sourced and fresh.\"},\"market\":{\"readings\":[{\"asOf\":\"2026-08-06\",\"label\":\"30-Year Fixed Mortgage\",\"prevAsOf\":\"2026-07-30\",\"prevValue\":6.66,\"seriesId\":\"MORTGAGE30US\",\"unit\":\"percent\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"label\":\"10-Year Treasury\",\"prevAsOf\":\"2026-08-05\",\"prevValue\":4.63,\"seriesId\":\"DGS10\",\"unit\":\"percent\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"label\":\"2-Year Treasury\",\"prevAsOf\":\"2026-08-05\",\"prevValue\":4.18,\"seriesId\":\"DGS2\",\"unit\":\"percent\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"label\":\"Fed Funds Rate\",\"prevAsOf\":\"2026-06-01\",\"prevValue\":3.63,\"seriesId\":\"FEDFUNDS\",\"unit\":\"percent\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"label\":\"S&P 500\",\"prevAsOf\":\"2026-08-06\",\"prevValue\":7709.96,\"seriesId\":\"SP500\",\"unit\":\"index\",\"value\":7757.64}],\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7757.64}]}},\"prevHash\":\"a16740fadc86e5dc64b7774e8a15e91b64b80f1dfc2ba86b7545d9e7328eb44f\",\"seq\":229,\"skill\":\"MarketData+BriefComposer\",\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.25},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7757.64}]}"},{"seq":230,"prevHash":"8d9d195fd5ec53d2806d847a4a1388a818185825d4b0ba5e067c7eb61c2e82f2","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-07","name":"FRED · 10-Year Treasury","value":4.65,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-07","name":"FRED · 2-Year Treasury","value":4.19,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-07","name":"FRED · S&P 500","value":7757.64,"seriesId":"SP500"}],"outputs":{"gate":{"pass":false,"reason":"Brief cites a figure not in the data: 6.5%.","confidence":0},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-07","name":"FRED · 10-Year Treasury","value":4.65,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-07","name":"FRED · 2-Year Treasury","value":4.19,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-07","name":"FRED · S&P 500","value":7757.64,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-06","unit":"percent","label":"30-Year Fixed Mortgage","value":6.69,"prevAsOf":"2026-07-30","seriesId":"MORTGAGE30US","prevValue":6.66},{"asOf":"2026-08-07","unit":"percent","label":"10-Year Treasury","value":4.65,"prevAsOf":"2026-08-06","seriesId":"DGS10","prevValue":4.69},{"asOf":"2026-08-07","unit":"percent","label":"2-Year Treasury","value":4.19,"prevAsOf":"2026-08-06","seriesId":"DGS2","prevValue":4.25},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-07","unit":"index","label":"S&P 500","value":7757.64,"prevAsOf":"2026-08-06","seriesId":"SP500","prevValue":7709.96}]},"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.69%","caption":"30-year fixed ticked up 3 bps to 6.69%, holding above the 6.5% threshold that caps refi urgency."},{"kind":"Stat","label":"10-Year Treasury","value":"4.65%","caption":"10-year Treasury eased 4 bps to 4.65%, anchoring longer-end pricing but not enough to widen the refi window."},{"kind":"Stat","label":"2-Year Treasury","value":"4.19%","caption":"2-year Treasury dropped 6 bps to 4.19%, continuing the flattening bias across the front end."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed funds rate unchanged at 3.63%, holding steady as policy waits on economic data."},{"kind":"Stat","label":"S&P 500","value":"7,757.64","caption":"S&P 500 at 7,757.64, reflecting equity stability amid steady rate conditions."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"With mortgage-to-10y spreads holding at 204 bps and rates stable, origination pull-through remains steady but refi volume will stay thin; MSR extensions and hedge efficiency matter more than volume upside.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":324},"summary":"30-year fixed sits at 6.69% while the 10–2 curve compresses to 46 bps, leaving servicers watching an increasingly constrained refinance incentive.","headline":"Mortgage rates hold firm as curve flattens; refi window stays narrow","disclaimer":"Not financial advice. Generated autonomously from public Federal Reserve data."}},"confidence":0,"decision":"held","decisionReason":"Brief cites a figure not in the data: 6.5%.","constitutionVersion":5,"createdAt":"2026-08-10T21:00:54.643Z","rowHash":"302be69a2ab261c902d444aa035a42897e23d0df16361884dcf77f3f8baab741","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0,\"constitutionVersion\":5,\"createdAt\":\"2026-08-10T21:00:54.643Z\",\"decision\":\"held\",\"decisionReason\":\"Brief cites a figure not in the data: 6.5%.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage rates hold firm as curve flattens; refi window stays narrow\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed ticked up 3 bps to 6.69%, holding above the 6.5% threshold that caps refi urgency.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury eased 4 bps to 4.65%, anchoring longer-end pricing but not enough to widen the refi window.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.65%\"},{\"caption\":\"2-year Treasury dropped 6 bps to 4.19%, continuing the flattening bias across the front end.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.19%\"},{\"caption\":\"Fed funds rate unchanged at 3.63%, holding steady as policy waits on economic data.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,757.64, reflecting equity stability amid steady rate conditions.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,757.64\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"With mortgage-to-10y spreads holding at 204 bps and rates stable, origination pull-through remains steady but refi volume will stay thin; MSR extensions and hedge efficiency matter more than volume upside.\",\"tone\":\"info\"}],\"kind\":\"Stack\"},\"title\":\"markets & rates\"},\"summary\":\"30-year fixed sits at 6.69% while the 10–2 curve compresses to 46 bps, leaving servicers watching an increasingly constrained refinance incentive.\",\"usage\":{\"completionTokens\":324,\"promptTokens\":1992}},\"gate\":{\"confidence\":0,\"pass\":false,\"reason\":\"Brief cites a figure not in the data: 6.5%.\"},\"market\":{\"readings\":[{\"asOf\":\"2026-08-06\",\"label\":\"30-Year Fixed Mortgage\",\"prevAsOf\":\"2026-07-30\",\"prevValue\":6.66,\"seriesId\":\"MORTGAGE30US\",\"unit\":\"percent\",\"value\":6.69},{\"asOf\":\"2026-08-07\",\"label\":\"10-Year Treasury\",\"prevAsOf\":\"2026-08-06\",\"prevValue\":4.69,\"seriesId\":\"DGS10\",\"unit\":\"percent\",\"value\":4.65},{\"asOf\":\"2026-08-07\",\"label\":\"2-Year Treasury\",\"prevAsOf\":\"2026-08-06\",\"prevValue\":4.25,\"seriesId\":\"DGS2\",\"unit\":\"percent\",\"value\":4.19},{\"asOf\":\"2026-07-01\",\"label\":\"Fed Funds Rate\",\"prevAsOf\":\"2026-06-01\",\"prevValue\":3.63,\"seriesId\":\"FEDFUNDS\",\"unit\":\"percent\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"label\":\"S&P 500\",\"prevAsOf\":\"2026-08-06\",\"prevValue\":7709.96,\"seriesId\":\"SP500\",\"unit\":\"index\",\"value\":7757.64}],\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.65},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.19},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7757.64}]}},\"prevHash\":\"8d9d195fd5ec53d2806d847a4a1388a818185825d4b0ba5e067c7eb61c2e82f2\",\"seq\":230,\"skill\":\"MarketData+BriefComposer\",\"sources\":[{\"asOf\":\"2026-08-06\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.69},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.65},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.19},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-07\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7757.64}]}"},{"seq":231,"prevHash":"302be69a2ab261c902d444aa035a42897e23d0df16361884dcf77f3f8baab741","agent":"ledger","skill":"AnchorLedger","model":"","inputs":{},"sources":[{"url":"https://opentimestamps.org","name":"OpenTimestamps calendars"}],"outputs":{"method":"opentimestamps","headSeq":230,"headHash":"302be69a2ab261c902d444aa035a42897e23d0df16361884dcf77f3f8baab741","proofStatus":"pending"},"confidence":null,"decision":"applied","decisionReason":"Anchored chain head seq 230 to OpenTimestamps (pending Bitcoin confirmation).","constitutionVersion":5,"createdAt":"2026-08-10T22:01:42.765Z","rowHash":"950cc0827c85715bacd1594e9b9d50c8aedddb7fa79876b8366e8a45a198b650","preimage":"rc-ledger-v1\n{\"agent\":\"ledger\",\"confidence\":null,\"constitutionVersion\":5,\"createdAt\":\"2026-08-10T22:01:42.765Z\",\"decision\":\"applied\",\"decisionReason\":\"Anchored chain head seq 230 to OpenTimestamps (pending Bitcoin confirmation).\",\"inputs\":{},\"model\":\"\",\"outputs\":{\"headHash\":\"302be69a2ab261c902d444aa035a42897e23d0df16361884dcf77f3f8baab741\",\"headSeq\":230,\"method\":\"opentimestamps\",\"proofStatus\":\"pending\"},\"prevHash\":\"302be69a2ab261c902d444aa035a42897e23d0df16361884dcf77f3f8baab741\",\"seq\":231,\"skill\":\"AnchorLedger\",\"sources\":[{\"name\":\"OpenTimestamps calendars\",\"url\":\"https://opentimestamps.org\"}]}"},{"seq":232,"prevHash":"950cc0827c85715bacd1594e9b9d50c8aedddb7fa79876b8366e8a45a198b650","agent":"curator","skill":"Curator","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[],"outputs":{"changed":false,"metrics":{"moduleDemand":{"about":2,"tools":0,"experience":73,"newsletter":0},"subscriberCount":5,"latestPostAgeDays":7,"publishedPostCount":15,"weeklyDownloadsTotal":1564},"curation":{"order":["experience","newsletter","about","tools"],"rationale":"Experience commands the highest module demand at 73 ask-events, placing it first. 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About and tools complete the order by default hierarchy; tools has zero demand and negligible engagement baseline.\"},\"metrics\":{\"latestPostAgeDays\":7,\"moduleDemand\":{\"about\":2,\"experience\":73,\"newsletter\":0,\"tools\":0},\"publishedPostCount\":15,\"subscriberCount\":5,\"weeklyDownloadsTotal\":1564}},\"prevHash\":\"950cc0827c85715bacd1594e9b9d50c8aedddb7fa79876b8366e8a45a198b650\",\"seq\":232,\"skill\":\"Curator\",\"sources\":[]}"},{"seq":233,"prevHash":"f53c24e45f676536ac21bbbcf83df7dbe34f4665172d36b298fa1684f8c64745","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-07","name":"FRED · 10-Year Treasury","value":4.65,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-07","name":"FRED · 2-Year Treasury","value":4.19,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-10","name":"FRED · S&P 500","value":7753.11,"seriesId":"SP500"}],"outputs":{"gate":{"pass":true,"reason":"5/5 series, all sourced and fresh.","confidence":0.83},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-07","name":"FRED · 10-Year Treasury","value":4.65,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-07","name":"FRED · 2-Year Treasury","value":4.19,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-10","name":"FRED · S&P 500","value":7753.11,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-06","unit":"percent","label":"30-Year Fixed Mortgage","value":6.69,"prevAsOf":"2026-07-30","seriesId":"MORTGAGE30US","prevValue":6.66},{"asOf":"2026-08-07","unit":"percent","label":"10-Year Treasury","value":4.65,"prevAsOf":"2026-08-06","seriesId":"DGS10","prevValue":4.69},{"asOf":"2026-08-07","unit":"percent","label":"2-Year Treasury","value":4.19,"prevAsOf":"2026-08-06","seriesId":"DGS2","prevValue":4.25},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-10","unit":"index","label":"S&P 500","value":7753.11,"prevAsOf":"2026-08-07","seriesId":"SP500","prevValue":7757.64}]},"briefId":117,"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.69%","caption":"30-year fixed at 6.69%, up 3 bps in a single day—the sharpest repricing in mortgage costs relative to bond yields."},{"kind":"Stat","label":"10-Year Treasury","value":"4.65%","caption":"10-year Treasury fell 4 bps to 4.65%, pulling the long end lower even as the Fed remains anchored."},{"kind":"Stat","label":"2-Year Treasury","value":"4.19%","caption":"2-year dropped 6 bps to 4.19%, a steeper decline than the 10-year, tightening the curve to just 46 bps."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed Funds Rate held flat at 3.63%, reflecting no intraday shift in policy posture."},{"kind":"Stat","label":"S&P 500","value":"7,753.11","caption":"S&P 500 at 7,753.11, providing no obvious spillover volatility to rate markets on the day."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"The 204 bp mortgage spread now prices in elevated prepayment risk and refinance reluctance; for originators, purchase volume faces fresh competitive pressure while the widened gap compresses margin unless rates rise sharply enough to offset the curve flattening.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":356},"summary":"The 10–2 curve flattened to 46 bps while the mortgage–Treasury gap expanded to 204 bps, signaling fresh origination headwinds and a shift in duration hedging risk.","headline":"Mortgage Spreads Widen as Long End Reprices Sharper Than Rates","disclaimer":"Not financial advice. 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage Spreads Widen as Long End Reprices Sharper Than Rates\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed at 6.69%, up 3 bps in a single day—the sharpest repricing in mortgage costs relative to bond yields.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury fell 4 bps to 4.65%, pulling the long end lower even as the Fed remains anchored.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.65%\"},{\"caption\":\"2-year dropped 6 bps to 4.19%, a steeper decline than the 10-year, tightening the curve to just 46 bps.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.19%\"},{\"caption\":\"Fed Funds Rate held flat at 3.63%, reflecting no intraday shift in policy posture.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 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500","value":7753.11,"seriesId":"SP500"}],"outputs":{"gate":{"pass":true,"reason":"5/5 series, all sourced and fresh.","confidence":0.83},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-07","name":"FRED · 10-Year Treasury","value":4.65,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-07","name":"FRED · 2-Year Treasury","value":4.19,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-10","name":"FRED · S&P 500","value":7753.11,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-06","unit":"percent","label":"30-Year Fixed 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Generated autonomously from public Federal Reserve data."},"artifactId":120},"confidence":0.83,"decision":"published","decisionReason":"5/5 series, all sourced and fresh.","constitutionVersion":5,"createdAt":"2026-08-11T16:01:41.677Z","rowHash":"3078642bc2a0cdc1ddfa4a3c8a05abf6143add4ce36c2549f8d30535f500ad52","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0.83,\"constitutionVersion\":5,\"createdAt\":\"2026-08-11T16:01:41.677Z\",\"decision\":\"published\",\"decisionReason\":\"5/5 series, all sourced and fresh.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"artifactId\":120,\"briefId\":118,\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage-Treasury Spread Widens to 204 bps as Short End Softens\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed mortgage: 6.69%, up 3 bps in one day.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury: 4.65%, down 4 bps.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.65%\"},{\"caption\":\"2-year Treasury: 4.19%, down 6 bps.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.19%\"},{\"caption\":\"Fed Funds Rate: 3.63%, unchanged.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500: 7,753.11 as of August 10.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,753.11\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"A widening mortgage-Treasury spread—now at 204 bps—signals lenders are pricing elevated servicing and basis risk; combined with a steeper 10Y–2Y curve (46 bps), the environment favors origination volume but threatens MSR valuations if prepay incentives remain muted at these mortgage levels.\",\"tone\":\"info\"}],\"kind\":\"Stack\"},\"title\":\"markets & rates\"},\"summary\":\"The 30-year fixed mortgage climbed 3 bps to 6.69% while the 10-year treasury fell 4 bps, pushing the conventional-to-Treasury gap to a notable 204 basis points.\",\"usage\":{\"completionTokens\":312,\"promptTokens\":1992}},\"gate\":{\"confidence\":0.83,\"pass\":true,\"reason\":\"5/5 series, all sourced and fresh.\"},\"market\":{\"readings\":[{\"asOf\":\"2026-08-06\",\"label\":\"30-Year Fixed Mortgage\",\"prevAsOf\":\"2026-07-30\",\"prevValue\":6.66,\"seriesId\":\"MORTGAGE30US\",\"unit\":\"percent\",\"value\":6.69},{\"asOf\":\"2026-08-07\",\"label\":\"10-Year 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Newsletter follows by tie-breaker: 15 published posts with latestPostAgeDays of 8 signals recent, active writing. About (moduleDemand 2) ranks third. Tools (moduleDemand 0, weeklyDownloadsTotal 1564) places fourth, as demand signal outweighs download volume in the ordering hierarchy."}},"confidence":null,"decision":"skipped","decisionReason":"Experience dominates with moduleDemand of 74, earning the lead. Newsletter follows by tie-breaker: 15 published posts with latestPostAgeDays of 8 signals recent, active writing. About (moduleDemand 2) ranks third. 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Tools (moduleDemand 0, weeklyDownloadsTotal 1564) places fourth, as demand signal outweighs download volume in the ordering hierarchy.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"changed\":false,\"curation\":{\"order\":[\"experience\",\"newsletter\",\"about\",\"tools\"],\"rationale\":\"Experience dominates with moduleDemand of 74, earning the lead. Newsletter follows by tie-breaker: 15 published posts with latestPostAgeDays of 8 signals recent, active writing. About (moduleDemand 2) ranks third. Tools (moduleDemand 0, weeklyDownloadsTotal 1564) places fourth, as demand signal outweighs download volume in the ordering hierarchy.\"},\"metrics\":{\"latestPostAgeDays\":8,\"moduleDemand\":{\"about\":2,\"experience\":74,\"newsletter\":0,\"tools\":0},\"publishedPostCount\":15,\"subscriberCount\":5,\"weeklyDownloadsTotal\":1564}},\"prevHash\":\"57052367a9c98c5178c2214892dd142ec0d199c3025523b438a46df1e18124f6\",\"seq\":237,\"skill\":\"Curator\",\"sources\":[]}"},{"seq":238,"prevHash":"b1ca717982c4e38960e37cab2bf9091266d13d5322550bcf7027d3a0713357a8","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-10","name":"FRED · 10-Year Treasury","value":4.72,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-10","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-11","name":"FRED · S&P 500","value":7728.2,"seriesId":"SP500"}],"outputs":{"gate":{"pass":false,"reason":"Brief cites a figure not in the data: 6.5%.","confidence":0},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-06","name":"FRED · 30-Year Fixed Mortgage","value":6.69,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-10","name":"FRED · 10-Year Treasury","value":4.72,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-10","name":"FRED · 2-Year Treasury","value":4.25,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-11","name":"FRED · S&P 500","value":7728.2,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-06","unit":"percent","label":"30-Year Fixed Mortgage","value":6.69,"prevAsOf":"2026-07-30","seriesId":"MORTGAGE30US","prevValue":6.66},{"asOf":"2026-08-10","unit":"percent","label":"10-Year Treasury","value":4.72,"prevAsOf":"2026-08-07","seriesId":"DGS10","prevValue":4.65},{"asOf":"2026-08-10","unit":"percent","label":"2-Year Treasury","value":4.25,"prevAsOf":"2026-08-07","seriesId":"DGS2","prevValue":4.19},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-11","unit":"index","label":"S&P 500","value":7728.2,"prevAsOf":"2026-08-10","seriesId":"SP500","prevValue":7753.11}]},"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.69%","caption":"30-year fixed mortgage rose 3 bps to 6.69%, the highest print in this observation window."},{"kind":"Stat","label":"10-Year Treasury","value":"4.72%","caption":"10-year Treasury climbed 7 bps to 4.72%, steeper than the mortgage move and signaling a flattening dynamic."},{"kind":"Stat","label":"2-Year Treasury","value":"4.25%","caption":"2-year Treasury added 6 bps to 4.25%, tracking the long end and keeping the 10–2 spread at a modest 47 bps."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed funds rate unchanged at 3.63%, leaving policy ground between short and long rates."},{"kind":"Stat","label":"S&P 500","value":"7,728.2","caption":"S&P 500 at 7,728.2 as of August 11; equity strength has not yet sparked a Treasury selloff."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"The spread's stability at 197 bps—despite upward pressure across the curve—suggests mortgage rates are tracking Treasury moves rather than widening on credit or servicing premia. Origination volume will hinge on whether the 10-year holds above 4.70% or rolls back; either way, refi incentive remains suppressed with mortgages firmly above 6.5%.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":384},"summary":"The 30-year fixed mortgage ticked up 3 bps to 6.69% while the 10-year Treasury rose 7 bps to 4.72%, keeping the mortgage–Treasury spread anchored near cycle lows.","headline":"Mortgage–Treasury Spread Holds at 197 bps as Long End Climbs","disclaimer":"Not financial advice. 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage–Treasury Spread Holds at 197 bps as Long End Climbs\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed mortgage rose 3 bps to 6.69%, the highest print in this observation window.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury climbed 7 bps to 4.72%, steeper than the mortgage move and signaling a flattening dynamic.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.72%\"},{\"caption\":\"2-year Treasury added 6 bps to 4.25%, tracking the long end and keeping the 10–2 spread at a modest 47 bps.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.25%\"},{\"caption\":\"Fed funds rate unchanged at 3.63%, leaving policy ground between short and long rates.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,728.2 as of August 11; equity strength has not yet sparked a Treasury selloff.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,728.2\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"The spread's stability at 197 bps—despite upward pressure across the curve—suggests mortgage rates are tracking Treasury moves rather than widening on credit or servicing premia. 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage spreads widen as Treasury curve steepens; rates hold firm\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed rose 3 bps to 6.69%, keeping the absolute level sticky above 6.6%.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.69%\"},{\"caption\":\"10-year Treasury eased 2 bps to 4.7%, but the longer end has not followed through sharply.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.7%\"},{\"caption\":\"2-year Treasury fell 3 bps to 4.22%, pulling the short end down faster than the long.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.22%\"},{\"caption\":\"Fed Funds rate held at 3.63%, offering no new signal on near-term policy path.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"kind\":\"Stat\",\"label\":\"S&P 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Curve flattens, mortgage spreads widen as long end drifts lower\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed eased 2 bps to 6.67%, following the 10y lower but not by enough to close the spread.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.67%\"},{\"caption\":\"10y Treasury fell 2 bps to 4.68%, driving the long end of the curve lower while the short end held.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.68%\"},{\"caption\":\"2-year Treasury declined 2 bps to 4.20%, keeping pace with the 10y and holding the curve at 48 bps of slope.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.2%\"},{\"caption\":\"Fed Funds Rate unchanged at 3.63%, frozen one month past the last move—market pricing for cuts remains muted.\",\"kind\":\"Stat\",\"label\":\"Fed Funds 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Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage spreads widen as short rates hold steady\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed fell 2 bps to 6.67%, lagging the sharper Treasury decline.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.67%\"},{\"caption\":\"10-year Treasury dropped 5 bps to 4.63%, steepening the mortgage premium.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.63%\"},{\"caption\":\"2-year Treasury also fell 5 bps to 4.15%, leaving the 10Y–2Y spread at 48 bps.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.15%\"},{\"caption\":\"Fed funds rate unchanged at 3.63% as of the last reading.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,785.76, up marginally as risk appetite persists despite rate volatility.\",\"kind\":\"Stat\",\"label\":\"S&P 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500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7785.76}]}"},{"seq":268,"prevHash":"b49d357ae9c79b9c4ab2c2ed956f29f43ab7bfe38104f618432befea725a2c99","agent":"brief-grader","skill":"Accountability","model":"","inputs":{"callKey":"lending_index","briefDate":"2026-08-06"},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-13","name":"FRED · 30-Year Fixed Mortgage","value":6.67,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-13","name":"FRED · 10-Year Treasury","value":4.63,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-13","name":"FRED · 2-Year Treasury","value":4.15,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-14","name":"FRED · S&P 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(+1).\",\"observedNow\":53,\"observedThen\":52,\"verdict\":\"held\"},\"prevHash\":\"b49d357ae9c79b9c4ab2c2ed956f29f43ab7bfe38104f618432befea725a2c99\",\"seq\":268,\"skill\":\"Accountability\",\"sources\":[{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.67},{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.63},{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.15},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-14\",\"name\":\"FRED · S&P 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(+1).\",\"observedNow\":53,\"observedThen\":52,\"verdict\":\"held\"},\"prevHash\":\"9b166bb2b6ff443138007435474e646fdbc8a51914bfbb57729428d5872f0373\",\"seq\":269,\"skill\":\"Accountability\",\"sources\":[{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.67},{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.63},{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.15},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-14\",\"name\":\"FRED · S&P 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(+1).\",\"observedNow\":53,\"observedThen\":52,\"verdict\":\"held\"},\"prevHash\":\"bc62031e384082e4494e965b72c78b88b11009d21a95d2ab47ca0805a38e88ae\",\"seq\":270,\"skill\":\"Accountability\",\"sources\":[{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.67},{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.63},{\"asOf\":\"2026-08-13\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.15},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-14\",\"name\":\"FRED · S&P 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Means","evidence":[{"url":"https://www.globalbankingandfinance.com/agentic-banking-when-your-ai-negotiates-with-the-bank-s-ai-1","claim":"Agentic Banking: When Your AI Negotiates With the Bank's AI","source":"www.globalbankingandfinance.com","publishedAt":"Fri, 14 Aug 2026 13:36:54 GMT"},{"url":"https://m.economictimes.com/default-subsec/spotlight/gff-2026-why-agentic-ai-is-becoming-a-key-theme-for-financial-services/amp_articleshow/133294941.cms","claim":"GFF 2026: Why agentic AI is becoming a key theme for financial services - The Economic Times","source":"m.economictimes.com","publishedAt":"Mon, 17 Aug 2026 11:00:00 GMT"},{"url":"https://www.tradingview.com/news/marketbeat:6d9968fb0094b:0-pegasystems-touts-governed-ai-workflows-token-free-pricing-at-oppenheimer-conference","claim":"Pegasystems Touts Governed AI Workflows, Token-Free Pricing at Oppenheimer Conference","source":"www.tradingview.com","publishedAt":"Sun, 16 Aug 2026 09:01:56 GMT"},{"url":"https://www.axios.com/2026/08/11/open-source-security-ai-agent-reporting","claim":"Tech giants are pushing for a new AI agent incident reporting framework","source":"www.axios.com","publishedAt":"Tue, 11 Aug 2026 17:31:27 GMT"},{"url":"https://www.hpcwire.com/aiwire/2026/08/13/agentic-ai-foundation-welcomes-57-new-members-gaining-major-financial-services-players-and-apac-leaders","claim":"Agentic AI Foundation Welcomes 57 New Members, Gaining Major Financial Services Players and APAC Leaders","source":"www.hpcwire.com","publishedAt":"Thu, 13 Aug 2026 18:18:40 GMT"}],"rationale":"Financial services are shipping agentic AI into production—Santander, BBVA, and others executing live agent-initiated transactions—while the industry still can't define what governance, auditability, or compliance actually look like at agent runtime. The gap between 'we deployed an agent' and 'we can prove it didn't violate fair-lending rules' is where the real liability lives, and nobody's solved it yet."},"draftDigest":"dac4d99ea399b107a34a6e3bcdead76cf53166799a7c53eb201bd7b6dc7b12b8"},"confidence":null,"decision":"proposed","decisionReason":"Proposed topic: The Great AI Agent Compliance Mirage: Finance Is Building Agents While Nobody Agrees What 'Governed' Actually Means. Financial services are shipping agentic AI into production—Santander, BBVA, and others executing live agent-initiated transactions—while the industry still can't define what governance, auditability, or compliance actually look like at agent runtime. The gap between 'we deployed an agent' and 'we can prove it didn't violate fair-lending rules' is where the real liability lives, and nobody's solved it yet.","constitutionVersion":5,"createdAt":"2026-08-17T13:03:22.706Z","rowHash":"4bed367bb144e64658f1464839a44575ccf6e4a9318ec202bb98ae75b7e2c6f9","preimage":"rc-ledger-v1\n{\"agent\":\"topic-scout\",\"confidence\":null,\"constitutionVersion\":5,\"createdAt\":\"2026-08-17T13:03:22.706Z\",\"decision\":\"proposed\",\"decisionReason\":\"Proposed topic: The Great AI Agent Compliance Mirage: Finance Is Building Agents While Nobody Agrees What 'Governed' Actually Means. Financial services are shipping agentic AI into production—Santander, BBVA, and others executing live agent-initiated transactions—while the industry still can't define what governance, auditability, or compliance actually look like at agent runtime. The gap between 'we deployed an agent' and 'we can prove it didn't violate fair-lending rules' is where the real liability lives, and nobody's solved it yet.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"draftDigest\":\"dac4d99ea399b107a34a6e3bcdead76cf53166799a7c53eb201bd7b6dc7b12b8\",\"scout\":{\"evidence\":[{\"claim\":\"Agentic Banking: When Your AI Negotiates With the Bank's AI\",\"publishedAt\":\"Fri, 14 Aug 2026 13:36:54 GMT\",\"source\":\"www.globalbankingandfinance.com\",\"url\":\"https://www.globalbankingandfinance.com/agentic-banking-when-your-ai-negotiates-with-the-bank-s-ai-1\"},{\"claim\":\"GFF 2026: Why agentic AI is becoming a key theme for financial services - The Economic Times\",\"publishedAt\":\"Mon, 17 Aug 2026 11:00:00 GMT\",\"source\":\"m.economictimes.com\",\"url\":\"https://m.economictimes.com/default-subsec/spotlight/gff-2026-why-agentic-ai-is-becoming-a-key-theme-for-financial-services/amp_articleshow/133294941.cms\"},{\"claim\":\"Pegasystems Touts Governed AI Workflows, Token-Free Pricing at Oppenheimer Conference\",\"publishedAt\":\"Sun, 16 Aug 2026 09:01:56 GMT\",\"source\":\"www.tradingview.com\",\"url\":\"https://www.tradingview.com/news/marketbeat:6d9968fb0094b:0-pegasystems-touts-governed-ai-workflows-token-free-pricing-at-oppenheimer-conference\"},{\"claim\":\"Tech giants are pushing for a new AI agent incident reporting framework\",\"publishedAt\":\"Tue, 11 Aug 2026 17:31:27 GMT\",\"source\":\"www.axios.com\",\"url\":\"https://www.axios.com/2026/08/11/open-source-security-ai-agent-reporting\"},{\"claim\":\"Agentic AI Foundation Welcomes 57 New Members, Gaining Major Financial Services Players and APAC Leaders\",\"publishedAt\":\"Thu, 13 Aug 2026 18:18:40 GMT\",\"source\":\"www.hpcwire.com\",\"url\":\"https://www.hpcwire.com/aiwire/2026/08/13/agentic-ai-foundation-welcomes-57-new-members-gaining-major-financial-services-players-and-apac-leaders\"}],\"rationale\":\"Financial services are shipping agentic AI into production—Santander, BBVA, and others executing live agent-initiated transactions—while the industry still can't define what governance, auditability, or compliance actually look like at agent runtime. The gap between 'we deployed an agent' and 'we can prove it didn't violate fair-lending rules' is where the real liability lives, and nobody's solved it yet.\",\"topic\":\"The Great AI Agent Compliance Mirage: Finance Is Building Agents While Nobody Agrees What 'Governed' Actually Means\"}},\"prevHash\":\"96fc43685cb28a98c34fe7ab338c17525071186707205d34e083063b2b993f65\",\"seq\":271,\"skill\":\"Research+TopicScout+RantDrafter\",\"sources\":[{\"asOf\":\"Fri, 14 Aug 2026 13:36:54 GMT\",\"name\":\"Agentic Banking: When Your AI Negotiates With the Bank's AI\",\"url\":\"https://www.globalbankingandfinance.com/agentic-banking-when-your-ai-negotiates-with-the-bank-s-ai-1\"},{\"asOf\":\"Mon, 17 Aug 2026 11:00:00 GMT\",\"name\":\"GFF 2026: Why agentic AI is becoming a key theme for financial services - The Economic 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Leaders\",\"url\":\"https://www.hpcwire.com/aiwire/2026/08/13/agentic-ai-foundation-welcomes-57-new-members-gaining-major-financial-services-players-and-apac-leaders\"}]}"},{"seq":272,"prevHash":"4bed367bb144e64658f1464839a44575ccf6e4a9318ec202bb98ae75b7e2c6f9","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-13","name":"FRED · 30-Year Fixed Mortgage","value":6.67,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-13","name":"FRED · 10-Year Treasury","value":4.63,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-13","name":"FRED · 2-Year Treasury","value":4.15,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds 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treasury weakness kept the gap from narrowing materially."},{"kind":"Stat","label":"10-Year Treasury","value":"4.63%","caption":"10-year Treasury yielded 4.63%, down 5 bps, tracking a steeper decline in the 2-year as the front end reprices."},{"kind":"Stat","label":"2-Year Treasury","value":"4.15%","caption":"2-year Treasury at 4.15%, also down 5 bps, signals persistent front-end softness amid a pinned fed funds rate."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed funds unchanged at 3.63%, leaving no surprise from the policy side; mortgage movement was purely market-driven."},{"kind":"Stat","label":"S&P 500","value":"7,785.76","caption":"S&P 500 closed 7,785.76, providing no obvious catalyst for the day's modest rate relief."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"With the 30-year fixed mortgage at 6.67% and the 10Y–2Y spread flattening to just 48 bps, lock volume faces continued pressure; the 204 bps origination spread leaves little room for servicing and hedging costs if fallout accelerates.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":348},"summary":"The 30–10 gap hit 204 bps while treasuries fell 5 bps across the curve, leaving originators facing tighter margin economics.","headline":"Mortgage spreads widen as long end outpaces rate relief","disclaimer":"Not financial advice. Generated autonomously from public Federal Reserve data."},"artifactId":136},"confidence":0.83,"decision":"published","decisionReason":"5/5 series, all sourced and fresh.","constitutionVersion":5,"createdAt":"2026-08-17T16:01:44.674Z","rowHash":"cfea95367a5be8f8f1dddcfbff850bf63f51eecbffc62a93ac6ec831ec4f6ca0","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0.83,\"constitutionVersion\":5,\"createdAt\":\"2026-08-17T16:01:44.674Z\",\"decision\":\"published\",\"decisionReason\":\"5/5 series, all sourced and fresh.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"artifactId\":136,\"briefId\":134,\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage spreads widen as long end outpaces rate relief\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year fixed mortgage fell 2 bps to 6.67%, but long-end treasury weakness kept the gap from narrowing materially.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.67%\"},{\"caption\":\"10-year Treasury yielded 4.63%, down 5 bps, tracking a steeper decline in the 2-year as the front end reprices.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.63%\"},{\"caption\":\"2-year Treasury at 4.15%, also down 5 bps, signals persistent front-end softness amid a pinned fed funds rate.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.15%\"},{\"caption\":\"Fed funds unchanged at 3.63%, leaving no surprise from the policy side; mortgage movement was purely market-driven.\",\"kind\":\"Stat\",\"label\":\"Fed Funds 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About and tools round out the order by default hierarchy, with tools showing zero recent demand and no notable download activity this week.\"},\"metrics\":{\"latestPostAgeDays\":0,\"moduleDemand\":{\"about\":1,\"experience\":71,\"newsletter\":0,\"tools\":0},\"publishedPostCount\":17,\"subscriberCount\":5,\"weeklyDownloadsTotal\":878}},\"prevHash\":\"a89f3c74538ece52b122b38ef2143c7e308eea3af37e16b2ae43f9b6cb581f46\",\"seq\":275,\"skill\":\"Curator\",\"sources\":[]}"},{"seq":276,"prevHash":"e4a2004573ec7d131fbd51d75660d6eb11f1093de6c17abc3876474b54eecd76","agent":"daily-brief","skill":"MarketData+BriefComposer","model":"anthropic/claude-haiku-4.5","inputs":{},"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-13","name":"FRED · 30-Year Fixed Mortgage","value":6.67,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-14","name":"FRED · 10-Year Treasury","value":4.68,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-14","name":"FRED · 2-Year Treasury","value":4.17,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-17","name":"FRED · S&P 500","value":7745.06,"seriesId":"SP500"}],"outputs":{"gate":{"pass":true,"reason":"5/5 series, all sourced and fresh.","confidence":0.83},"market":{"sources":[{"url":"https://fred.stlouisfed.org/series/MORTGAGE30US","asOf":"2026-08-13","name":"FRED · 30-Year Fixed Mortgage","value":6.67,"seriesId":"MORTGAGE30US"},{"url":"https://fred.stlouisfed.org/series/DGS10","asOf":"2026-08-14","name":"FRED · 10-Year Treasury","value":4.68,"seriesId":"DGS10"},{"url":"https://fred.stlouisfed.org/series/DGS2","asOf":"2026-08-14","name":"FRED · 2-Year Treasury","value":4.17,"seriesId":"DGS2"},{"url":"https://fred.stlouisfed.org/series/FEDFUNDS","asOf":"2026-07-01","name":"FRED · Fed Funds Rate","value":3.63,"seriesId":"FEDFUNDS"},{"url":"https://fred.stlouisfed.org/series/SP500","asOf":"2026-08-17","name":"FRED · S&P 500","value":7745.06,"seriesId":"SP500"}],"readings":[{"asOf":"2026-08-13","unit":"percent","label":"30-Year Fixed Mortgage","value":6.67,"prevAsOf":"2026-08-06","seriesId":"MORTGAGE30US","prevValue":6.69},{"asOf":"2026-08-14","unit":"percent","label":"10-Year Treasury","value":4.68,"prevAsOf":"2026-08-13","seriesId":"DGS10","prevValue":4.63},{"asOf":"2026-08-14","unit":"percent","label":"2-Year Treasury","value":4.17,"prevAsOf":"2026-08-13","seriesId":"DGS2","prevValue":4.15},{"asOf":"2026-07-01","unit":"percent","label":"Fed Funds Rate","value":3.63,"prevAsOf":"2026-06-01","seriesId":"FEDFUNDS","prevValue":3.63},{"asOf":"2026-08-17","unit":"index","label":"S&P 500","value":7745.06,"prevAsOf":"2026-08-14","seriesId":"SP500","prevValue":7785.76}]},"briefId":136,"composed":{"spec":{"root":{"kind":"Stack","children":[{"cols":3,"kind":"Grid","children":[{"kind":"Stat","label":"30-Year Fixed Mortgage","value":"6.67%","caption":"30-year mortgage ticked down 2 bps to 6.67%, a rare dip against a rising long end."},{"kind":"Stat","label":"10-Year Treasury","value":"4.68%","caption":"10-year Treasury climbed 5 bps to 4.68%, pushing the curve steeper."},{"kind":"Stat","label":"2-Year Treasury","value":"4.17%","caption":"2-year Treasury rose 2 bps to 4.17%, tracking with Fed expectations."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed Funds Rate flat at 3.63%, no policy signal since last move."},{"kind":"Stat","label":"S&P 500","value":"7,745.06","caption":"S&P 500 at 7,745—equity backdrop steady, no flight-to-safety bid visible in treasuries."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"Wider mortgage-to-Treasury spreads protect origination margins and MSR values even as long-end yields drift higher; operators can lock pricing power without racing downward on rate cuts. The 51 bps positive curve slope also keeps refi incentive muted for near-term volume.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":321},"summary":"10Y Treasury rose 5 bps while 30Y mortgage fell 2 bps, leaving the mortgage premium at 199 bps—a cushion that insulates originators from immediate rate compression.","headline":"Mortgage–Treasury spread holds wide as long-end yields tick up","disclaimer":"Not financial advice. Generated autonomously from public Federal Reserve data."},"artifactId":138},"confidence":0.83,"decision":"published","decisionReason":"5/5 series, all sourced and fresh.","constitutionVersion":5,"createdAt":"2026-08-18T11:00:47.566Z","rowHash":"e4013ae970bcadafa1ef56474f905f430c46a74047b3b7501b54dbcc21ce4d6e","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0.83,\"constitutionVersion\":5,\"createdAt\":\"2026-08-18T11:00:47.566Z\",\"decision\":\"published\",\"decisionReason\":\"5/5 series, all sourced and fresh.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"artifactId\":138,\"briefId\":136,\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage–Treasury spread holds wide as long-end yields tick up\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year mortgage ticked down 2 bps to 6.67%, a rare dip against a rising long end.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.67%\"},{\"caption\":\"10-year Treasury climbed 5 bps to 4.68%, pushing the curve steeper.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.68%\"},{\"caption\":\"2-year Treasury rose 2 bps to 4.17%, tracking with Fed expectations.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.17%\"},{\"caption\":\"Fed Funds Rate flat at 3.63%, no policy signal since last move.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,745—equity backdrop steady, no flight-to-safety bid visible in treasuries.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,745.06\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"Wider mortgage-to-Treasury spreads protect origination margins and MSR values even as long-end yields drift higher; operators can lock pricing power without racing downward on rate cuts. The 51 bps positive curve slope also keeps refi incentive muted for near-term volume.\",\"tone\":\"info\"}],\"kind\":\"Stack\"},\"title\":\"markets & rates\"},\"summary\":\"10Y Treasury rose 5 bps while 30Y mortgage fell 2 bps, leaving the mortgage premium at 199 bps—a cushion that insulates originators from immediate rate compression.\",\"usage\":{\"completionTokens\":321,\"promptTokens\":1992}},\"gate\":{\"confidence\":0.83,\"pass\":true,\"reason\":\"5/5 series, all sourced and fresh.\"},\"market\":{\"readings\":[{\"asOf\":\"2026-08-13\",\"label\":\"30-Year Fixed Mortgage\",\"prevAsOf\":\"2026-08-06\",\"prevValue\":6.69,\"seriesId\":\"MORTGAGE30US\",\"unit\":\"percent\",\"value\":6.67},{\"asOf\":\"2026-08-14\",\"label\":\"10-Year Treasury\",\"prevAsOf\":\"2026-08-13\",\"prevValue\":4.63,\"seriesId\":\"DGS10\",\"unit\":\"percent\",\"value\":4.68},{\"asOf\":\"2026-08-14\",\"label\":\"2-Year 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6.67%, but MSR durations compress if yields reverse. Lenders pricing tighter margins must hedge duration exposure or accept prepay drag in any rally below 6.50%.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":383},"summary":"30-year fixed slipped 2 bps to 6.67% as the 10Y climbed 5 bps, pushing the origination-cost wedge to 199 bps.","headline":"Mortgage-Treasury Spread Widens as 10Y Rallies and Rate Lock Weakens","disclaimer":"Not financial advice. 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lenders face tighter net margins despite stable rates; with the curve still flat, refinance incentives remain muted and prepay risk low, but origination economics are under pressure if spreads don't recover.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1992,"completionTokens":434},"summary":"The 10-year Treasury rose 4 bps to 4.72%, pushing the mortgage–10Y spread to 195 bps while the 30-year fixed held steady at 6.67%, leaving the 10Y–2Y curve at a slim 53 bps.","headline":"Mortgage Spreads Widen as 10Y Treasury Climbs; Curve Stays Flat","disclaimer":"Not financial advice. 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should expect continued refinance headwinds and MSR compression.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1988,"completionTokens":403},"summary":"A modest dip in mortgage rates and a steeper 10Y decline leave the 30–10 spread at 200 bps, still a formidable hurdle for origination volume.","headline":"30-Year Mortgage Drops 2 bps as Treasury Curve Flattens; Refi Window Narrows","disclaimer":"Not financial advice. 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Treasury","value":"4.69%","caption":"10-year Treasury climbed 4 bps to 4.69%, driving the curve compression and lifting the mortgage–Treasury wedge."},{"kind":"Stat","label":"2-Year Treasury","value":"4.19%","caption":"2-year Treasury flat at 4.19%, leaving the 10–2 spread at just 50 bps and signaling continued monetary tightness."},{"kind":"Stat","label":"Fed Funds Rate","value":"3.63%","caption":"Fed Funds Rate steady at 3.63% as of early July; no change in the policy anchor."},{"kind":"Stat","label":"S&P 500","value":"7,674.37","caption":"S&P 500 at 7,674.37; equities hold firm despite rate volatility."}]},{"kind":"Text","text":"What it means for your shop","emphasis":"mono"},{"kind":"Callout","text":"The flattening curve and widening mortgage spread signal tighter origination margins: servicers face steeper competitive pressure on rate locks as net servicing income compresses, while refinance incentives remain muted in a 6.65% rate environment.","tone":"info"}]},"title":"markets & rates"},"label":"autonomous · AI-generated","usage":{"promptTokens":1990,"completionTokens":375},"summary":"The 30-year mortgage edged down 2 bps while the 10-year Treasury climbed 4 bps, pushing the mortgage–Treasury spread to 196 bps and leaving the 10–2 curve at just 50 bps.","headline":"Mortgage Spreads Widen as 10-Year Yields Rise; Curve Flattens to 50 Bps","disclaimer":"Not financial advice. Generated autonomously from public Federal Reserve data."},"artifactId":150},"confidence":0.92,"decision":"published","decisionReason":"5/5 series, all sourced and fresh.","constitutionVersion":5,"createdAt":"2026-08-22T21:00:42.066Z","rowHash":"b5267756cc9d0a16f23b81a947a975e91bb443400a9f4d0dab7e3434928d057e","preimage":"rc-ledger-v1\n{\"agent\":\"daily-brief\",\"confidence\":0.92,\"constitutionVersion\":5,\"createdAt\":\"2026-08-22T21:00:42.066Z\",\"decision\":\"published\",\"decisionReason\":\"5/5 series, all sourced and fresh.\",\"inputs\":{},\"model\":\"anthropic/claude-haiku-4.5\",\"outputs\":{\"artifactId\":150,\"briefId\":148,\"composed\":{\"disclaimer\":\"Not financial advice. Generated autonomously from public Federal Reserve data.\",\"headline\":\"Mortgage Spreads Widen as 10-Year Yields Rise; Curve Flattens to 50 Bps\",\"label\":\"autonomous · AI-generated\",\"spec\":{\"root\":{\"children\":[{\"children\":[{\"caption\":\"30-year mortgage at 6.65%, down 2 bps — but spread to 10-year Treasury has expanded to 196 bps, narrowing lender cushion.\",\"kind\":\"Stat\",\"label\":\"30-Year Fixed Mortgage\",\"value\":\"6.65%\"},{\"caption\":\"10-year Treasury climbed 4 bps to 4.69%, driving the curve compression and lifting the mortgage–Treasury wedge.\",\"kind\":\"Stat\",\"label\":\"10-Year Treasury\",\"value\":\"4.69%\"},{\"caption\":\"2-year Treasury flat at 4.19%, leaving the 10–2 spread at just 50 bps and signaling continued monetary tightness.\",\"kind\":\"Stat\",\"label\":\"2-Year Treasury\",\"value\":\"4.19%\"},{\"caption\":\"Fed Funds Rate steady at 3.63% as of early July; no change in the policy anchor.\",\"kind\":\"Stat\",\"label\":\"Fed Funds Rate\",\"value\":\"3.63%\"},{\"caption\":\"S&P 500 at 7,674.37; equities hold firm despite rate volatility.\",\"kind\":\"Stat\",\"label\":\"S&P 500\",\"value\":\"7,674.37\"}],\"cols\":3,\"kind\":\"Grid\"},{\"emphasis\":\"mono\",\"kind\":\"Text\",\"text\":\"What it means for your shop\"},{\"kind\":\"Callout\",\"text\":\"The flattening curve and widening mortgage spread signal tighter origination margins: servicers face steeper competitive pressure on rate locks as net servicing income compresses, while refinance incentives remain muted in a 6.65% rate environment.\",\"tone\":\"info\"}],\"kind\":\"Stack\"},\"title\":\"markets & rates\"},\"summary\":\"The 30-year mortgage edged down 2 bps while the 10-year Treasury climbed 4 bps, pushing the mortgage–Treasury spread to 196 bps and leaving the 10–2 curve at just 50 bps.\",\"usage\":{\"completionTokens\":375,\"promptTokens\":1990}},\"gate\":{\"confidence\":0.92,\"pass\":true,\"reason\":\"5/5 series, all sourced and fresh.\"},\"market\":{\"readings\":[{\"asOf\":\"2026-08-20\",\"label\":\"30-Year Fixed Mortgage\",\"prevAsOf\":\"2026-08-13\",\"prevValue\":6.67,\"seriesId\":\"MORTGAGE30US\",\"unit\":\"percent\",\"value\":6.65},{\"asOf\":\"2026-08-20\",\"label\":\"10-Year Treasury\",\"prevAsOf\":\"2026-08-19\",\"prevValue\":4.65,\"seriesId\":\"DGS10\",\"unit\":\"percent\",\"value\":4.69},{\"asOf\":\"2026-08-20\",\"label\":\"2-Year Treasury\",\"prevAsOf\":\"2026-08-19\",\"prevValue\":4.19,\"seriesId\":\"DGS2\",\"unit\":\"percent\",\"value\":4.19},{\"asOf\":\"2026-07-01\",\"label\":\"Fed Funds Rate\",\"prevAsOf\":\"2026-06-01\",\"prevValue\":3.63,\"seriesId\":\"FEDFUNDS\",\"unit\":\"percent\",\"value\":3.63},{\"asOf\":\"2026-08-21\",\"label\":\"S&P 500\",\"prevAsOf\":\"2026-08-20\",\"prevValue\":7641.16,\"seriesId\":\"SP500\",\"unit\":\"index\",\"value\":7674.37}],\"sources\":[{\"asOf\":\"2026-08-20\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.65},{\"asOf\":\"2026-08-20\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-20\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.19},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-21\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7674.37}]}},\"prevHash\":\"a504da0dfdbb231f7d68a3d08a6bfaa1f9d5183237f07a43637c1cb6aa5d8549\",\"seq\":298,\"skill\":\"MarketData+BriefComposer\",\"sources\":[{\"asOf\":\"2026-08-20\",\"name\":\"FRED · 30-Year Fixed Mortgage\",\"seriesId\":\"MORTGAGE30US\",\"url\":\"https://fred.stlouisfed.org/series/MORTGAGE30US\",\"value\":6.65},{\"asOf\":\"2026-08-20\",\"name\":\"FRED · 10-Year Treasury\",\"seriesId\":\"DGS10\",\"url\":\"https://fred.stlouisfed.org/series/DGS10\",\"value\":4.69},{\"asOf\":\"2026-08-20\",\"name\":\"FRED · 2-Year Treasury\",\"seriesId\":\"DGS2\",\"url\":\"https://fred.stlouisfed.org/series/DGS2\",\"value\":4.19},{\"asOf\":\"2026-07-01\",\"name\":\"FRED · Fed Funds Rate\",\"seriesId\":\"FEDFUNDS\",\"url\":\"https://fred.stlouisfed.org/series/FEDFUNDS\",\"value\":3.63},{\"asOf\":\"2026-08-21\",\"name\":\"FRED · S&P 500\",\"seriesId\":\"SP500\",\"url\":\"https://fred.stlouisfed.org/series/SP500\",\"value\":7674.37}]}"}]}