{
  "report_date": "2026-03-24",
  "data_points": [
    {"variable_node": "Fed Funds Rate", "market_level_value": "5.25% - 5.50%", "primary_model_target": "EV", "context_provenance": "FOMC Current Target Range"},
    {"variable_node": "10Y Treasury Yield", "market_level_value": "4.62%", "primary_model_target": "DCF", "context_provenance": "Benchmark Risk-Free Rate"},
    {"variable_node": "SOFR (1M)", "market_level_value": "5.32%", "primary_model_target": "LGD", "context_provenance": "Base rate for BSL floating debt"},
    {"variable_node": "BSL Spreads (Avg)", "market_level_value": "S + 325bps", "primary_model_target": "PD", "context_provenance": "Credit risk premium in syndicated markets"},
    {"variable_node": "Brent Crude Oil", "market_level_value": "$96.20", "primary_model_target": "EV", "context_provenance": "Input cost / Inflationary pressure node"},
    {"variable_node": "S&P 500 VIX", "market_level_value": "18.4", "primary_model_target": "LGD", "context_provenance": "Market fear gauge / Liquidity discount"},
    {"variable_node": "10Y/2Y Spread", "market_level_value": "-45bps", "primary_model_target": "PD", "context_provenance": "Recessionary signal; yield curve inversion"},
    {"variable_node": "Bitcoin (BTC)", "market_level_value": "$92,450", "primary_model_target": "EV", "context_provenance": "Alternative asset liquidity / Risk-on proxy"}
  ]
}