The VIX, or Volatility Index, measures the stock market's expectation of volatility based on S&P 500 index options, often referred to as the "fear gauge" for the market.

Credit markets are financial marketplaces for buying and selling debt securities, where borrowers seek funding and lenders provide loans in exchange for interest.

ISM Manufacturing Index is an economic indicator based on surveys of manufacturing firms, measuring industry health, production levels, and new orders to assess the overall economic condition of the manufacturing sector.

ISM Services Index is an economic indicator that measures the activity level of the services sector, based on surveys of service-based businesses regarding their outlook on business conditions, new orders, and employment.

NAHB Housing Market Index is a gauge of homebuilder sentiment and expectations, reflecting survey data on current sales conditions, sales expectations, and buyer traffic for newly built single-family homes.

Treasury auctions are the sale of government bonds by the U.S. Treasury to fund federal spending, setting the securities' yield and price.

Bond prices are the current market value of fixed-income securities, inversely related to interest rates and reflecting the present value of their future income streams.

Bond yields represent the return an investor realizes on a bond, usually expressed as an annual percentage rate based on its current price.

The yield curve is a chart showing the interest rates of bonds at various maturities, often signaling the economic outlook. An inverted yield curve occurs when short-term interest rates exceed long-term rates, often seen as a predictor of economic recession.

Central banks are national financial institutions responsible for regulating a country's monetary policy, including managing interest rates, controlling the money supply, and maintaining financial stability.

Inflation is the rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of money.

Federal funds rate is the interest rate at which depository institutions lend reserve balances to other depository institutions overnight, serving as a key tool in central bank monetary policy.

Central bank policy involves strategies to regulate money supply, manage interest rates, and ensure financial stability to achieve key economic objectives.

"Dovish" refers to a monetary policy stance that favors lower interest rates and looser monetary conditions to stimulate economic growth.

"Hawkish" refers to a monetary policy stance that favors higher interest rates and tighter monetary conditions to combat inflation.

A “hard landing” refers to a sharp economic slowdown or recession resulting from attempts to reduce high inflation or overheating the economy, often following aggressive monetary tightening.

A "soft landing" refers to a scenario where an economy slows down just enough to curb inflation without causing a recession, achieving a balance that avoids significant economic downturn.

Quantitative Easing (QE) is a monetary policy in which a central bank purchases longer-term securities from the open market to increase the money supply and encourage lending and investment.

Quantitative Tightening (QT) is a monetary policy in which a central bank reduces its holdings of government bonds and other securities to decrease the money supply and control inflation.

Fed balance sheet is a financial statement that outlines the assets and liabilities of the Federal Reserve, including government securities and other investments, which reflects the central bank's monetary policy actions.

PCE refers to the Personal Consumption Expenditures index, which measures changes in the price of goods and services consumed by households, while Core PCE excludes food and energy prices to provide a clearer view of long-term inflation trends.

Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical.