# ZTrader Codex > Structured macro knowledge OS / financial knowledge graph for hedge-fund research: wiki entities, lexicon projection, strategy cards, papers, signals, Alpha Factory, and RAG evidence. ## Preferred citation ZTrader Codex (https://codex.ztrader.ai) — macro / derivatives / quant knowledge system by ZTrader. ## Corpus sizes (canonical) - Wiki (primary entity store): 204 - Lexicon (short-definition projection of wiki + legacy terms): 207 - Strategy cards: 7 ## Important for AI crawlers - **Primary corpus is Wiki (204 entities), not the old 5-term lexicon island.** - Lexicon index lists the full projection; wiki-sourced term URLs canonicalize to `/wiki/{slug}`. - Prefer `/wiki/{slug}` for full definitions; use `/lexicon` for glossary browsing. ## Stack discovery - Hub: https://ztrader.ai/llms.txt - Memory/RAG: https://rag.ztrader.ai/llms.txt - Blog: https://blog.ztrader.ai/llms.txt - Chat: https://chat.ztrader.ai/llms.txt - Chart: https://chart.ztrader.ai/llms.txt - Academy: https://zacademy.ztrader.ai/llms.txt - ZAlpha: https://zalpha-dashboard.ztrader.ai/llms.txt ## Machine-readable feeds - Manifest: https://codex.ztrader.ai/api/manifest - Documents export: https://codex.ztrader.ai/api/documents - Cards export: https://codex.ztrader.ai/api/cards - Search API: https://codex.ztrader.ai/api/search?q= - Sitemap: https://codex.ztrader.ai/sitemap.xml - RAG query proxy: https://codex.ztrader.ai/api/rag/query ## Core routes - https://codex.ztrader.ai/ - https://codex.ztrader.ai/wiki - https://codex.ztrader.ai/lexicon - https://codex.ztrader.ai/cards - https://codex.ztrader.ai/papers - https://codex.ztrader.ai/signals - https://codex.ztrader.ai/transfer - https://codex.ztrader.ai/search - https://codex.ztrader.ai/topics ## Wiki entities (sample of 204) - [China Credit Impulse](https://codex.ztrader.ai/wiki/china-credit-impulse): China credit impulse measures the change in new credit growth relative to GDP and is widely used as a leading indicator for Chinese demand and global cyclical momentum. - [EMBI Sovereign Spread](https://codex.ztrader.ai/wiki/embi-sovereign-spread): EMBI sovereign spread measures the yield premium on emerging-market sovereign debt over U.S. Treasuries and serves as a key gauge of EM credit risk and external financing stress. - [Dollar Index vs EM FX Basket](https://codex.ztrader.ai/wiki/dxy-vs-em-fx-baske): Comparing DXY with an EM FX basket helps assess whether dollar strength is becoming a broader external-financing stress event for emerging markets. - [Money Market Fund Assets](https://codex.ztrader.ai/wiki/money-market-fund-assets): Money market fund assets track the amount of cash parked in short-term low-risk vehicles, providing insight into liquidity preference, deposit substitution, and defensive positioning. - [Bank Term Funding Program Usage](https://codex.ztrader.ai/wiki/btfp-usage): BTFP usage tracks how much funding banks obtain through the Bank Term Funding Program, offering insight into balance-sheet stress and demand for official liquidity backstops. - [Discount Window Borrowing](https://codex.ztrader.ai/wiki/discount-window-borrowing): Discount Window borrowing measures bank use of Federal Reserve emergency liquidity and serves as a signal of funding pressure and banking-sector strain. - [Deposit Outflow Rate](https://codex.ztrader.ai/wiki/deposit-outflow-rate): Deposit outflow rate measures the pace at which deposits leave the banking system or individual banks, helping assess funding stability and confidence. - [Regional Bank ETF](https://codex.ztrader.ai/wiki/regional-bank-etf): Regional Bank ETF performance helps track stress in smaller and mid-sized banks, especially around deposit stability, asset quality, and local credit conditions. - [KBW Bank Index](https://codex.ztrader.ai/wiki/kbw-bank-index): KBW Bank Index tracks the equity performance of major U.S. banks and provides insight into banking-sector health, credit transmission, and market confidence. - [Bank CDS Index](https://codex.ztrader.ai/wiki/bank-cds-index): Bank CDS Index tracks the cost of insuring major bank credit risk and serves as a real-time indicator of banking-system stress and confidence. - [BTP-Bund Spread](https://codex.ztrader.ai/wiki/btp-bund-spread): BTP-Bund spread measures the yield difference between Italian and German government bonds and is a key indicator of euro-area sovereign stress and fragmentation risk. - [ECB Balance Sheet](https://codex.ztrader.ai/wiki/ecb-balance-sheet): The ECB balance sheet reflects the scale of European Central Bank asset holdings and helps track euro-area liquidity, policy transmission, and duration absorption. - [Commercial Paper Spread](https://codex.ztrader.ai/wiki/commercial-paper-spread): Commercial paper spreads track the cost of short-term corporate borrowing relative to safer benchmarks and help identify stress in corporate funding markets. - [Loan Officer Survey](https://codex.ztrader.ai/wiki/loan-officer-survey): The Loan Officer Survey tracks bank lending standards and loan demand, providing insight into whether credit supply is tightening or easing in the real economy. - [Investment Grade OAS](https://codex.ztrader.ai/wiki/investment-grade-oas): Investment Grade OAS measures the spread of high-quality corporate bonds over Treasuries after adjusting for embedded options, helping track broad corporate credit conditions. - [High Yield OAS](https://codex.ztrader.ai/wiki/high-yield-oas): High Yield OAS measures the spread of high-yield corporate bonds over risk-free Treasuries after adjusting for embedded options, serving as a key gauge of speculative credit stress. - [VIX Term Structure](https://codex.ztrader.ai/wiki/vix-term-structure): VIX term structure tracks the shape of volatility futures across maturities and helps identify whether the market is pricing stable conditions or near-term stress. - [Skew](https://codex.ztrader.ai/wiki/skew): Skew measures the relative richness of downside versus upside implied volatility, helping track hedging demand and asymmetry in market risk pricing. - [Dealer Gamma Positioning](https://codex.ztrader.ai/wiki/dealer-gamma-positioning): Dealer gamma positioning describes whether option dealers are structurally long or short gamma, shaping how hedging flows amplify or dampen market moves. - [Indirect Bidder Allotment](https://codex.ztrader.ai/wiki/indirect-bidder-allotment): Indirect bidder allotment tracks the share of Treasury auctions awarded to indirect bidders, often used as a proxy for foreign and institutional demand. - [Treasury Auction Tail](https://codex.ztrader.ai/wiki/treasury-auction-tail): Treasury auction tail measures how much the auction clears above or below the expected market yield, providing a sensitive signal of auction quality and investor demand. - [Treasury Auction Bid-to-Cover Ratio](https://codex.ztrader.ai/wiki/auction-bid-to-cover): Treasury auction bid-to-cover ratio measures the amount of demand relative to supply at an auction and is used to assess investor appetite for government debt. - [Primary Dealer Holdings](https://codex.ztrader.ai/wiki/primary-dealer-holdings): Primary dealer holdings track how much inventory dealers are carrying, offering insight into balance-sheet absorption, market-making capacity, and Treasury market strain. - [QT Pace](https://codex.ztrader.ai/wiki/qt-pace): QT pace refers to the speed at which the Federal Reserve allows assets to roll off its balance sheet, affecting reserves, duration supply, and market liquidity. - [Fed Balance Sheet](https://codex.ztrader.ai/wiki/fed-balance-sheet): The Fed balance sheet reflects the scale of Federal Reserve asset holdings and is a major driver of reserves, liquidity conditions, and policy transmission. - [Bank Reserve Balances](https://codex.ztrader.ai/wiki/bank-reserve-balances): Bank reserve balances reflect the quantity of reserves held by banks at the Federal Reserve and are central to understanding liquidity distribution and financial system stability. - [Treasury General Account](https://codex.ztrader.ai/wiki/treasury-general-account): Treasury General Account tracks the U.S. Treasury’s cash balance at the Federal Reserve and influences system liquidity by absorbing or releasing reserves. - [LIBOR-OIS Spread](https://codex.ztrader.ai/wiki/libor-ois-spread): LIBOR-OIS spread tracks the gap between unsecured bank funding rates and overnight indexed swap rates, historically serving as a benchmark for banking-system stress. - [TED Spread](https://codex.ztrader.ai/wiki/ted-spread): TED Spread measures the difference between interbank lending rates and short-term U.S. government bill yields, historically used as a gauge of credit and funding stress. - [Swap Spread](https://codex.ztrader.ai/wiki/swap-spread): Swap spread measures the difference between interest rate swap rates and Treasury yields of similar maturity, helping track balance-sheet conditions, collateral dynamics, and structural stress in rates markets. - [SOFR](https://codex.ztrader.ai/wiki/sofr): SOFR is the Secured Overnight Financing Rate, a key benchmark for U.S. dollar funding based on overnight Treasury repo transactions. - [S&P 500 Earnings Yield](https://codex.ztrader.ai/wiki/spx-earnings-yield): S&P 500 Earnings Yield measures expected earnings relative to price and is useful for assessing valuation and comparing equities with bond yields. - [Financial Conditions Index](https://codex.ztrader.ai/wiki/financial-conditions-index): A Financial Conditions Index aggregates variables such as rates, credit spreads, equities, and the dollar to measure how supportive or restrictive the market environment is for growth and risk assets. - [Equity Risk Premium](https://codex.ztrader.ai/wiki/equity-risk-premium): Equity Risk Premium measures the excess return investors expect from equities over risk-free assets and is a core framework for evaluating relative equity valuation. - [Copper Price](https://codex.ztrader.ai/wiki/copper-price): Copper price is widely used as a proxy for industrial activity, manufacturing demand, and global growth expectations. - [Baltic Dry Index](https://codex.ztrader.ai/wiki/baltic-dry-index): Baltic Dry Index tracks shipping rates for dry bulk commodities and offers a real-economy signal on trade flows, freight conditions, and industrial demand. - [Gold Price](https://codex.ztrader.ai/wiki/gold-price): Gold price reflects demand for a non-yielding reserve asset and is often used as a signal for real yields, macro uncertainty, and confidence in fiat systems. - [DXY Index](https://codex.ztrader.ai/wiki/dxy-index): DXY Index measures the U.S. dollar against a basket of major currencies and serves as a broad gauge of dollar strength and global financial conditions. - [USD/JPY Cross-Currency Basis](https://codex.ztrader.ai/wiki/usd-jpy-cross-currency-basis): USD/JPY cross-currency basis measures the extra cost of obtaining dollars through FX swap markets and is a key indicator of offshore dollar funding stress. - [Reverse Repo Facility Usage](https://codex.ztrader.ai/wiki/rrp-usage): Reverse Repo Facility usage shows how much cash is being parked at the Federal Reserve overnight and helps track reserve distribution, collateral demand, and system liquidity conditions. ## Access notes Index public wiki, lexicon index, cards, papers, signals, and research pages. Do not index /admin, /login, /editor, /preview drafts, auth cookies, or private API mutations.