Bastion Terminal / MacroBeta

The Data Behind the Narratives

Hand-picked macroeconomic indicators pulled directly from primary sources (US Census, BLS, Federal Reserve) and refreshed on the release schedule. No analyst spin, just the numbers that move markets, with the context that makes them useful.

Rates

US Government 10-Year Yield History

Long-term government yield, 1800 to present

4.95%25 bps above long-run avg
Sep 2026 · 10-year par yield

The latest reading sits against a 4.70% average across 1800 to 2025. The full chart shows how today's rate compares with inflation shocks, wars, recessions, and the pandemic low.

Source: US Treasury + historical public sourcesOpen chart →

Construction

AI Infrastructure CapEx

US Data Center Construction Spending

$75.2B+57.2% YoY
Jul 2026 · $B (annualized)

The single cleanest, most objective indicator of real AI infrastructure investment in the United States. Not forecasts, not analyst commentary — physical capital expenditure on the buildings that house hyperscaler servers, updated monthly. A leading indicator for compute supply, power demand, and the addressable market for every name in the AI infrastructure chain.

Source: US Census BureauOpen chart →

Indicators are refreshed automatically on release day. Numbers come directly from files published by each agency. No transformations are applied beyond seasonal adjustments published by the agency. More series are added as we vet them; the criterion is “does this actually help an investor decide something?”