The Observation model
The atomic unit of everything Conduit stores and serves is an observation: one value for an (Entity, Indicator, Period).- Entity — the who/where: a country (
country_usa), a region (region_euro_area), a company, or an instrument. Euro-area data always lives underregion_euro_area. - Indicator — the what, canonically defined in the indicator registry. One indicator id
means exactly one measure (e.g.
cpi_inflation_yoy). - Period — the when the value describes.
The time model
Conduit separates two different notions of time — this is what makes it safe for backtesting:| Filter | Controls |
|---|---|
period / period_start / period_end | the period a value describes. |
start_date / end_date | knowledge time (observed_at) — when the value became known. |
as_of | returns the latest vintage known on or before a timestamp. |
as_of to reconstruct exactly what was knowable at a past date — no lookahead from later
revisions.
Rights & redistribution
/v1/public/* returns only redistribution-safe (official / public-domain) data. Licensed
vendor data is internal-only and never appears on the public surface. This is a feature: the
data you get from the public API is clean to use and redistribute within your product, and the
supply chain is auditable end-to-end (see Coverage & provenance).
Derived analytics
Conduit computes a set of signals from its base data — descriptive measurements, never buy/sell calls:- Surprise indices — Growth and Inflation Surprise Indices per currency (standardized actual-vs-forecast). Measures whether data is coming in stronger or weaker than expected.
- Rates analytics — real policy rate, real 10Y yield, curve spreads (10Y−2Y, 10Y−3M), and policy-cycle state (hiking / cutting / on-hold).
- Positioning — COT positioning percentile (3y / 1y / z-score) and “crowded” flags.
- Risk regime — risk_on / neutral / risk_off / stress, from US option-market measures (VIX level + percentile, put/call percentile) as a global-risk-appetite proxy.
- Conduit forecast — Conduit’s own statistical baseline per series (per-family blend, skill-gated, with prediction intervals). This is not vendor or sell-side consensus.