{
  "snapshot_date": "2026-05-06",
  "generated_at_utc": "2026-05-13T02:17:05Z",
  "methodology_version": "v1.6",
  "publication_track": "academic",
  "masking": {
    "lag_days": 7,
    "noise_stddev_pct": 0.05,
    "n_bins": 5
  },
  "composite": {
    "bin": "Bin 4/5",
    "direction": "持平"
  },
  "pillars": [
    {
      "key": "RMBPressure",
      "name_cn": "人民币离岸压力",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 3/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "USYieldCurve",
      "name_cn": "美债收益率曲线",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 4/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "GlobalUSDStress_simple",
      "name_cn": "全球美元流动性压力",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 3/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "OilStress",
      "name_cn": "油价压力",
      "cadence": "daily",
      "latest_date": "2026-05-04",
      "latest_bin": "Bin 5/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "GoldPremium",
      "name_cn": "黄金溢价",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 5/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "OffshoreLiquidity",
      "name_cn": "离岸人民币流动性",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 1/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "PbcLiquidityOps",
      "name_cn": "央行流动性操作",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 1/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "TetherIssuanceFlows",
      "name_cn": "Tether 发行净流",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 3/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "CipBasisFull",
      "name_cn": "CIP 基差（完整）",
      "cadence": "monthly",
      "latest_date": "2026-05-05",
      "latest_bin": "Bin 4/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "CipBasisProxy",
      "name_cn": "CIP 基差（代理）",
      "cadence": "monthly",
      "latest_date": "2026-05-05",
      "latest_bin": "Bin 2/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "SouthboundFlow",
      "name_cn": "南向通净流",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 1/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "StockConnectFlow",
      "name_cn": "沪深港通净流",
      "cadence": "daily",
      "latest_date": null,
      "latest_bin": null,
      "direction": "—",
      "has_data": false
    },
    {
      "key": "CnShareCombined",
      "name_cn": "在华份额合成",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 1/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "SafeForexBalance",
      "name_cn": "外管局结售汇差",
      "cadence": "monthly",
      "latest_date": "2026-03-31",
      "latest_bin": "Bin 1/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "ForexSettlement",
      "name_cn": "结售汇综合差",
      "cadence": "monthly",
      "latest_date": "2026-03-31",
      "latest_bin": "Bin 4/5",
      "direction": "下行",
      "has_data": true
    },
    {
      "key": "CnhDepositsHk",
      "name_cn": "港 CNH 存款",
      "cadence": "monthly",
      "latest_date": "2026-03-31",
      "latest_bin": "Bin 1/5",
      "direction": "持平",
      "has_data": true
    },
    {
      "key": "BopFlows",
      "name_cn": "国际收支流",
      "cadence": "quarterly",
      "latest_date": "2025-12-31",
      "latest_bin": "Bin 4/5",
      "direction": "—",
      "has_data": true
    },
    {
      "key": "AnnualBenchmark",
      "name_cn": "年度基准",
      "cadence": "annual benchmark",
      "latest_date": "2025-12-31",
      "latest_bin": "Bin 1/5",
      "direction": "—",
      "has_data": true
    },
    {
      "key": "CnAnchorAggregate",
      "name_cn": "中国大陆相关地址综合活动",
      "cadence": "daily",
      "latest_date": "2026-05-06",
      "latest_bin": "Bin 5/5",
      "direction": "上行",
      "has_data": true
    }
  ],
  "disclaimer": "Academic-version publication. All numeric values were lag-shifted by 7 days, multiplied by 1 + N(0, 0.05), then discretized into 5 quintile bins. Precise z-scores are available only in the internal version. Data is for research only — not investment advice."
}