A composite index of the macro stress prediction markets and selected fiat anchors are pricing — recession risk, the rate path, inflation pressure, growth, and financial conditions — on a base-100-neutral scale.
What feeds the figure at last compute — market prices in cents, indicator values in their natural unit, and the component weight.
The Mensor reads the market; it does not take positions in it. MMI is a measurement, not a forecast and not a tradable product. Prediction-market prices are risk-neutral and approximate probabilities.