Composite: 64.8% (Nearly Crash)
Regime: risk off
Geopolitical: 56.9% (Risky)
Market insight: The Financial Composite Gauge registered 67.5% (Nearly Crash), the Overall Gauge hit 64.8% (Nearly Crash), and the Geopolitical Layer is 56.9% (Risky). Primary drivers include the US-Iran Two-Week Ceasefire (38.2%) and the Strait of Hormuz Safe Transit Agreement (35.0%). This geopolitical de-escalation diverges from severe financial instability, suggesting that diplomatic progress has not yet mitigated systemic crash risks.