{
  "instruments": [
    {
      "id": "SPY",
      "name": "S&P 500 ETF",
      "yf_ticker": "SPY",
      "ib_ticker": "SPY",
      "exchange": "CBOE",
      "category": "equity_index",
      "currency": "USD",
      "description": "US large-cap equity benchmark — 500 plus grandes capitalisations américaines",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "fed_policy",      "label": "Fed Policy",       "type": "event_calendar", "weight": 0.9,  "keywords": ["FOMC","Fed","Federal Reserve","Powell","taux directeur","pivot","dot plot","QT","QE","taux Fed"]},
        {"key": "earnings_growth", "label": "Earnings Growth",  "type": "report",          "weight": 0.85, "keywords": ["Earnings","EPS","bénéfices","résultats","Earnings Season","reporting","profits"]},
        {"key": "real_rates",      "label": "Real Rates",       "type": "fundamental",     "weight": 0.75, "keywords": ["taux réels","TIPS","real yields","breakeven","inflation","CPI","PCE"]},
        {"key": "liquidity",       "label": "Global Liquidity", "type": "fundamental",     "weight": 0.7,  "keywords": ["liquidité","liquidity","QE","QT","bilan Fed","repo","M2","conditions financières"]},
        {"key": "vix",             "label": "VIX / Fear",       "type": "sentiment",       "weight": 0.6,  "keywords": ["VIX","volatilité","vol spike","hedging","protection","skew","put","peur","fear"]}
      ],
      "regime_labels": ["Risk-On Bull", "Risk-Off Bear", "Stagflation", "Rate Shock", "Recovery"],
      "event_keywords": ["FOMC","CPI","NFP","GDP","Earnings Season","Fed Chair","VIX"],
      "related_assets": ["SPX","SPY","QQQ","ES"],
      "correlation_instruments": ["QQQ","TLT","HYG","VXX"],
      "ai_context": "SPY tracks the S&P 500. Bullish: dovish Fed, strong earnings, liquidity expansion. Bearish: rate hikes, recession, credit events. Watch: VIX, HYG spreads, FOMC."
    },
    {
      "id": "QQQ",
      "name": "Nasdaq 100 ETF",
      "yf_ticker": "QQQ",
      "ib_ticker": "QQQ",
      "exchange": "NASDAQ",
      "category": "equity_index",
      "currency": "USD",
      "description": "US large-cap tech and growth benchmark — 100 plus grandes valeurs Nasdaq",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "real_rates",  "label": "Real Rates",     "type": "fundamental",     "weight": 0.9,  "keywords": ["taux réels","TIPS","real yields","FOMC","Fed","CPI","breakeven"]},
        {"key": "ai_capex",   "label": "AI Capex",       "type": "fundamental",     "weight": 0.85, "keywords": ["IA","AI","Nvidia","Microsoft","capex tech","data center","GPU","intelligence artificielle","ChatGPT"]},
        {"key": "megacaps",   "label": "Mégacaps GAFAM", "type": "report",          "weight": 0.8,  "keywords": ["GAFAM","Apple","Meta","Alphabet","Amazon","Microsoft","earnings tech","Big Tech","résultats tech"]},
        {"key": "growth",     "label": "Croissance US",  "type": "event_calendar",  "weight": 0.75, "keywords": ["croissance","GDP","récession","NFP","emploi","PMI","croissance économique"]},
        {"key": "dollar",     "label": "Dollar Index",   "type": "technical",       "weight": 0.5,  "keywords": ["Dollar","DXY","dollar index","EUR/USD","devise"]}
      ],
      "regime_labels": ["Tech Bull (AI-Driven)", "Tech Bear", "Rate Compression", "Earnings Crash", "Recovery"],
      "event_keywords": ["FOMC","Big Tech Earnings","CPI","AI","Rate","NVDA","AAPL"],
      "related_assets": ["QQQ","NDX","NQ"],
      "correlation_instruments": ["SPY","TLT","NVDA","AAPL"],
      "ai_context": "QQQ tracks Nasdaq 100. Bullish: dovish Fed, AI capex boom, Big Tech earnings. Bearish: rate hikes, earnings misses, AI regulation. Watch: real yields, mega-cap earnings."
    },
    {
      "id": "IWM",
      "name": "Russell 2000 ETF",
      "yf_ticker": "IWM",
      "ib_ticker": "IWM",
      "exchange": "NYSE",
      "category": "equity_index",
      "currency": "USD",
      "description": "US small-cap equity benchmark — 2000 petites capitalisations américaines",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "gdp_growth",     "label": "Croissance US",    "type": "event_calendar",  "weight": 0.85, "keywords": ["GDP","PIB","croissance US","NFP","emploi","récession","PMI","domestic growth"]},
        {"key": "credit",         "label": "Crédit & Spreads", "type": "fundamental",     "weight": 0.8,  "keywords": ["crédit","credit","HY","high yield","spreads","LBO","conditions de crédit","credit crunch"]},
        {"key": "regional_banks", "label": "Banques Régionales","type": "fundamental",    "weight": 0.75, "keywords": ["banques régionales","SVB","FDIC","banque","banking","bank failure","crédit bancaire"]},
        {"key": "dollar",         "label": "Dollar Index",     "type": "technical",       "weight": 0.6,  "keywords": ["Dollar","DXY","dollar fort","USD strength"]}
      ],
      "regime_labels": ["Small Cap Expansion", "Credit Crunch Squeeze", "Risk-Off", "Recovery", "Neutral"],
      "event_keywords": ["FOMC","Credit","GDP","NFP","Rates","Regional Banks"],
      "related_assets": ["IWM","RTY","RUT"],
      "correlation_instruments": ["SPY","HYG","TLT"],
      "ai_context": "IWM tracks Russell 2000. Heavily credit-sensitive. Bullish: credit loosening, domestic growth. Bearish: credit tightening, recession, dollar strength. Watch: HYG spreads, regional bank health."
    },
    {
      "id": "EEM",
      "name": "Emerging Markets ETF",
      "yf_ticker": "EEM",
      "ib_ticker": "EEM",
      "exchange": "NYSE",
      "category": "equity_intl",
      "currency": "USD",
      "description": "MSCI Emerging Markets — grandes capitalisations des marchés émergents",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "dollar_index",  "label": "Dollar Index",    "type": "technical",       "weight": 0.9,  "keywords": ["Dollar","DXY","USD","dollar index","dollar fort","faible dollar"]},
        {"key": "china_growth",  "label": "Chine / PBoC",   "type": "event_calendar",  "weight": 0.85, "keywords": ["China","Chine","PBOC","PBoC","PIB chinois","Xi","immobilier chinois","stimulus Chine","relance Chine"]},
        {"key": "em_flows",     "label": "Flux EM",         "type": "sentiment",       "weight": 0.75, "keywords": ["EM","émergents","emerging","flows","flux","capitaux émergents"]},
        {"key": "commodities",  "label": "Matières Premières","type": "fundamental",   "weight": 0.7, "keywords": ["matières premières","commodities","minerai","pétrole","métaux","commodité"]}
      ],
      "regime_labels": ["EM Growth Rally", "Dollar Squeeze", "China Risk-Off", "Commodity Lift", "Neutral"],
      "event_keywords": ["China GDP","Dollar","EM","PBOC","Commodities","stimulus Chine"],
      "related_assets": ["EEM","EM","CNY","China"],
      "correlation_instruments": ["GLD","USO","EURUSD=X"],
      "ai_context": "EEM tracks MSCI Emerging Markets. Bullish: PBOC stimulus, commodities rally, weak USD. Bearish: Fed tightening, China slowdown, trade tensions. Watch: USDCNY, China PMI, EM bond flows."
    },
    {
      "id": "EFA",
      "name": "MSCI EAFE ETF",
      "yf_ticker": "EFA",
      "ib_ticker": "EFA",
      "exchange": "NYSE",
      "category": "equity_intl",
      "currency": "USD",
      "description": "MSCI EAFE — Europe, Australasie, Extrême-Orient (hors US/Canada)",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "ecb_policy",      "label": "BCE / ECB",              "type": "event_calendar",  "weight": 0.85, "keywords": ["BCE","ECB","Lagarde","taux BCE","zone euro","politique BCE","ECB rate"]},
        {"key": "energy",          "label": "Énergie Europe",         "type": "fundamental",     "weight": 0.8,  "keywords": ["énergie","gaz européen","pétrole","LNG","crisis énergétique","energy","energy price"]},
        {"key": "eurusd",          "label": "EUR/USD",                "type": "technical",       "weight": 0.75, "keywords": ["EUR/USD","euro dollar","eurusd","parité euro","euro fort","euro faible"]},
        {"key": "european_growth", "label": "Croissance Européenne",  "type": "event_calendar",  "weight": 0.7,  "keywords": ["Europe","zone euro","Allemagne","PIB européen","PMI Europe","récession Europe","croissance européenne"]}
      ],
      "regime_labels": ["Global Risk-On", "USD Strength Drag", "Europe Recession", "Recovery", "Neutral"],
      "event_keywords": ["ECB","EU GDP","Europe","Germany","BOJ","Japan","EUR"],
      "related_assets": ["EFA","EAFE","EUR","EZU","SX5E"],
      "correlation_instruments": ["EURUSD=X","EEM","TLT"],
      "ai_context": "EFA tracks EAFE (Europe, Japan, Australia). Bullish: EUR/JPY strength, ECB/BOJ dovishness, global reflation. Bearish: USD strength, European recession, geopolitical disruption."
    },
    {
      "id": "GLD",
      "name": "Gold ETF",
      "yf_ticker": "GLD",
      "ib_ticker": "GLD",
      "exchange": "NYSE",
      "category": "metal",
      "currency": "USD",
      "description": "SPDR Gold Shares — proxy physique de l'or",
      "chart": { "ma_periods": [50, 100, 200], "bollinger_period": 50, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "real_rates_us",          "label": "Taux Réels US",          "type": "fundamental",     "weight": 0.95, "keywords": ["taux réels","TIPS","real yields","Fed","FOMC","CPI","breakeven","inflation réelle"]},
        {"key": "dollar_index",           "label": "Dollar Index",            "type": "technical",       "weight": 0.85, "keywords": ["Dollar","DXY","dollar index","USD","faible dollar","dollar fort"]},
        {"key": "inflation_expectations", "label": "Anticipations Inflation", "type": "fundamental",     "weight": 0.75, "keywords": ["inflation","CPI","PCE","breakeven","attentes d'inflation","stagflation"]},
        {"key": "geopolitical_risk",      "label": "Risque Géopolitique",    "type": "geopolitical",    "weight": 0.7,  "keywords": ["géopolitique","guerre","Moyen-Orient","Iran","Russie","conflit","Chine","tension","crise","war"]},
        {"key": "cb_buying",              "label": "Achats Banques Centrales","type": "fundamental",    "weight": 0.5,  "keywords": ["banque centrale","central bank","réserves","gold reserves","achats d'or","PBOC gold","dédollarisation"]}
      ],
      "regime_labels": ["Real Rates Falling", "Safe Haven Rally", "Inflation Hedge", "Dollar Weakness", "Range"],
      "event_keywords": ["CPI","Fed","FOMC","Dollar","Geopolitical","Iran","Gold","guerre","inflation"],
      "related_assets": ["GLD","GC","Gold","XAU"],
      "correlation_instruments": ["TLT","SLV","EURUSD=X","USDJPY=X"],
      "ai_context": "GLD tracks physical gold. Primary driver: real rates (inverse). Bullish: falling real yields, dollar weakness, CB buying, geopolitical crises. Bearish: rising real yields, strong dollar."
    },
    {
      "id": "SLV",
      "name": "Silver ETF",
      "yf_ticker": "SLV",
      "ib_ticker": "SLV",
      "exchange": "NYSE",
      "category": "metal",
      "currency": "USD",
      "description": "iShares Silver Trust — proxy physique de l'argent métal",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "industrial_demand", "label": "Demande Industrielle", "type": "fundamental",     "weight": 0.8,  "keywords": ["industrie","manufacturing","PMI","production industrielle","fabrique","industry"]},
        {"key": "real_rates",        "label": "Taux Réels",          "type": "fundamental",     "weight": 0.75, "keywords": ["taux réels","TIPS","Fed","FOMC","real yields"]},
        {"key": "dollar",            "label": "Dollar Index",        "type": "technical",       "weight": 0.7,  "keywords": ["Dollar","DXY","USD"]},
        {"key": "solar_ev_demand",   "label": "Solaire / Véhicule EV","type": "fundamental",   "weight": 0.65, "keywords": ["solaire","solar","EV","véhicule électrique","énergie verte","green energy","photovoltaïque","battery"]},
        {"key": "gold_ratio",        "label": "Ratio Or/Argent",     "type": "technical",       "weight": 0.6,  "keywords": ["Gold","or","ratio Or/Argent","gold silver","argent","silver"]}
      ],
      "regime_labels": ["Industrial Demand", "Safe Haven Flow", "Dollar Weakness", "Risk-Off", "Range"],
      "event_keywords": ["Manufacturing","PMI","CPI","Dollar","Silver","EV","Solar","taux réels"],
      "related_assets": ["SLV","SI","Silver"],
      "correlation_instruments": ["GLD","USO","EEM"],
      "ai_context": "SLV tracks silver. Dual nature: monetary (like gold) + industrial (solar, EVs). Bullish: green energy demand, falling real rates, weak dollar. Bearish: manufacturing slowdown, strong dollar."
    },
    {
      "id": "USO",
      "name": "WTI Oil ETF",
      "yf_ticker": "USO",
      "ib_ticker": "USO",
      "exchange": "NYSE",
      "category": "energy",
      "currency": "USD",
      "description": "United States Oil Fund — proxy WTI (pétrole brut américain)",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "opec_policy",    "label": "OPEP+ / Production", "type": "event_calendar",  "weight": 0.9,  "keywords": ["OPEC","OPEP","production pétrolière","quotas","Arabie Saoudite","Saudi","réduction","coupes","OPEC meeting"]},
        {"key": "inventories",   "label": "Stocks EIA",         "type": "report",          "weight": 0.8,  "keywords": ["EIA","stocks pétroliers","inventaires","inventories","crude stocks","rapport EIA","crude supply"]},
        {"key": "geopolitical_risk","label": "Risque Géopolitique","type": "geopolitical",  "weight": 0.75, "keywords": ["géopolitique","Moyen-Orient","Iran","Russie","conflit","guerre","war","Golfe Persique","tension"]},
        {"key": "global_demand", "label": "Demande Mondiale",   "type": "fundamental",     "weight": 0.85, "keywords": ["demande mondiale","China demand","IEA","croissance mondiale","global demand","reprise économique"]},
        {"key": "dollar",        "label": "Dollar Index",       "type": "technical",       "weight": 0.7,  "keywords": ["Dollar","DXY","USD"]}
      ],
      "regime_labels": ["Supply Shock", "Demand Recovery", "Inventory Draw", "Geopolitical Premium", "Neutral"],
      "event_keywords": ["OPEC","EIA","Inventories","Brent","WTI","Oil","Middle East","Saudi"],
      "related_assets": ["USO","CL","WTI","Oil","Brent"],
      "correlation_instruments": ["XOM","EEM","GLD","UNG"],
      "ai_context": "USO tracks WTI crude. Bullish: OPEC+ cuts, geopolitical disruption, demand recovery, weak dollar. Bearish: OPEC output increases, demand recession, inventory builds."
    },
    {
      "id": "UNG",
      "name": "Natural Gas ETF",
      "yf_ticker": "UNG",
      "ib_ticker": "UNG",
      "exchange": "NYSE",
      "category": "energy",
      "currency": "USD",
      "description": "United States Natural Gas Fund — proxy Henry Hub (gaz naturel)",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "weather_seasonality", "label": "Météo / Saisonnalité","type": "fundamental",    "weight": 0.9,  "keywords": ["météo","weather","hiver","été","froid","chaleur","El Niño","La Niña","saison","vague de froid","heat wave"]},
        {"key": "storage",            "label": "Stockage EIA Gaz",   "type": "report",          "weight": 0.85, "keywords": ["EIA Gas Storage","stockage gaz","gas storage","inventaires gaz","rapport stockage gaz"]},
        {"key": "lng_exports",        "label": "Exports LNG",        "type": "fundamental",     "weight": 0.75, "keywords": ["LNG","GNL","exportations gaz","terminal LNG","gazoduc","liquefied natural gas"]},
        {"key": "production",         "label": "Production US",      "type": "fundamental",     "weight": 0.7,  "keywords": ["production gaz","shale gas","fracking","puits gaz","Marcellus","Appalachian","US gas output"]}
      ],
      "regime_labels": ["Winter Storage Fill", "Supply Glut", "Demand Surge", "Export LNG Lift", "Neutral"],
      "event_keywords": ["EIA Gas Storage","LNG","Gas","Natural Gas","Weather","stockage gaz"],
      "related_assets": ["UNG","NG","Natgas"],
      "correlation_instruments": ["USO","XOM"],
      "ai_context": "UNG tracks natural gas (Henry Hub). Highly seasonal and weather-driven. Bullish: cold winter, low storage, LNG export growth. Bearish: warm weather, record storage builds."
    },
    {
      "id": "TLT",
      "name": "US 20Y Treasury ETF",
      "yf_ticker": "TLT",
      "ib_ticker": "TLT",
      "exchange": "NASDAQ",
      "category": "bond",
      "currency": "USD",
      "description": "iShares 20+ Year Treasury — proxy du rendement US 10Y/30Y",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "fed_path",               "label": "Trajectoire Fed",       "type": "event_calendar",  "weight": 0.9,  "keywords": ["FOMC","Fed","taux directeur","Fed hike","Fed cut","pivot","dot plot","Federal Reserve"]},
        {"key": "inflation_expectations", "label": "Inflation / CPI",       "type": "fundamental",     "weight": 0.85, "keywords": ["CPI","PCE","inflation","déflation","attentes","breakeven","inflation US"]},
        {"key": "growth",                 "label": "Croissance / NFP",      "type": "event_calendar",  "weight": 0.75, "keywords": ["GDP","NFP","récession","croissance","emploi","PMI","chômage","payrolls"]},
        {"key": "deficit_supply",         "label": "Déficit / Offre Treasury","type": "fundamental",   "weight": 0.7, "keywords": ["déficit","dette publique","Treasury auction","enchères","budget","fiscal","dette fédérale"]},
        {"key": "risk_aversion",          "label": "Fuite Vers Qualité",   "type": "sentiment",       "weight": 0.65, "keywords": ["risk-off","crise","fuite vers la qualité","safe haven","vol spike","contagion","crise bancaire"]}
      ],
      "regime_labels": ["Safe Haven Bid", "Rate Shock Selloff", "QE Expectations", "Inflation Selloff", "Range"],
      "event_keywords": ["FOMC","CPI","Fed","Treasury","Yield","Deficit","NFP"],
      "related_assets": ["TLT","TNX","UST","Bonds"],
      "correlation_instruments": ["SPY","GLD","HYG","USDJPY=X"],
      "ai_context": "TLT tracks 20Y US Treasuries. Bullish: recession fears, Fed cuts, falling inflation, risk-off. Bearish: rising inflation, Fed hikes, fiscal deficit expansion, strong growth."
    },
    {
      "id": "HYG",
      "name": "High Yield Bond ETF",
      "yf_ticker": "HYG",
      "ib_ticker": "HYG",
      "exchange": "NYSE",
      "category": "credit",
      "currency": "USD",
      "description": "iShares iBoxx USD High Yield Corporate Bond — baromètre du crédit HY",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "default_rate",   "label": "Taux de Défaut",         "type": "fundamental",     "weight": 0.85, "keywords": ["défauts","default","faillite","bankruptcy","spreads HY","taux de défaut","HY spreads"]},
        {"key": "growth",         "label": "Croissance Économique",  "type": "event_calendar",  "weight": 0.8,  "keywords": ["GDP","récession","croissance","PMI","emploi","payrolls","activité"]},
        {"key": "liquidity",      "label": "Conditions de Liquidité","type": "fundamental",     "weight": 0.8,  "keywords": ["liquidité","crédit","QT","QE","conditions financières","FCO","financial conditions"]},
        {"key": "risk_appetite",  "label": "Appétit pour le Risque", "type": "sentiment",       "weight": 0.75, "keywords": ["risk-on","risk-off","appétit pour le risque","flux crédit","sentiment marché"]}
      ],
      "regime_labels": ["Credit Expansion", "Credit Crunch", "Spread Compression", "Recession Fear", "Neutral"],
      "event_keywords": ["Credit","Default","GDP","FOMC","Recession","HY","spreads"],
      "related_assets": ["HYG","LQD","Credit","HY"],
      "correlation_instruments": ["SPY","IWM","TLT"],
      "ai_context": "HYG tracks US high-yield corporate bonds. Key credit stress barometer. Bullish: strong growth, low defaults, liquidity expansion. Bearish: recession, default cycle, credit crunch."
    },
    {
      "id": "EURUSD=X",
      "name": "EUR/USD",
      "yf_ticker": "EURUSD=X",
      "ib_ticker": "EUR.USD",
      "exchange": "FX",
      "category": "fx",
      "currency": "USD",
      "description": "Taux spot Euro / Dollar américain",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": false },
      "drivers": [
        {"key": "fed_ecb_differential",   "label": "Différentiel Fed/BCE", "type": "event_calendar",  "weight": 0.95, "keywords": ["BCE","ECB","Fed","FOMC","différentiel","taux directeurs","politique monétaire","rate differential"]},
        {"key": "rate_differential_2y",   "label": "Taux 2 ans US-EUR",    "type": "technical",       "weight": 0.85, "keywords": ["taux 2 ans","Bund 2Y","Treasury 2Y","swap","différentiel de taux","2Y spread"]},
        {"key": "inflation_differential", "label": "Inflation US vs EUR",  "type": "fundamental",     "weight": 0.75, "keywords": ["CPI","inflation","PCE","HICP","zone euro","inflation différentiel"]},
        {"key": "dxy",                    "label": "Dollar Index DXY",     "type": "technical",       "weight": 0.7,  "keywords": ["Dollar","DXY","dollar index","USD","dollar fort","faible dollar"]}
      ],
      "regime_labels": ["EUR Strength (ECB Hawkish)", "USD Strength (Fed Hawkish)", "Risk-On EUR Rally", "Risk-Off USD Safe", "Range"],
      "event_keywords": ["ECB","FOMC","CPI","EUR","Dollar","Fed","Eurozone","BCE"],
      "related_assets": ["EUR","USD","EURUSD","6E"],
      "correlation_instruments": ["GLD","EFA","TLT"],
      "ai_context": "EUR/USD driven by Fed-ECB rate differential. EUR bullish: ECB hawkishness, European growth surprise, risk-on. EUR bearish: Fed hawkishness, European recession, risk-off USD demand."
    },
    {
      "id": "USDJPY=X",
      "name": "USD/JPY",
      "yf_ticker": "USDJPY=X",
      "ib_ticker": "USD.JPY",
      "exchange": "FX",
      "category": "fx",
      "currency": "JPY",
      "description": "Taux spot Dollar américain / Yen japonais",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": false },
      "drivers": [
        {"key": "boj_policy",     "label": "BOJ Policy",        "type": "event_calendar",  "weight": 0.95, "keywords": ["BOJ","Banque du Japon","Ueda","YCC","yield curve control","politique monétaire japonaise","BOJ rate","JGB"]},
        {"key": "rate_diff_us_jp","label": "Différentiel US-JP","type": "technical",       "weight": 0.9,  "keywords": ["différentiel US-Japon","JGB","UST","rendements US-JP","US Japan spread","10Y spread"]},
        {"key": "fed_policy",     "label": "Fed Policy",        "type": "event_calendar",  "weight": 0.85, "keywords": ["Fed","FOMC","taux directeur US","hawkish Fed","Fed hike","Federal Reserve"]},
        {"key": "risk_appetite",  "label": "Risk Appetite / Carry","type": "sentiment",   "weight": 0.7, "keywords": ["risk-off","carry trade","yen safe haven","crise","carry unwind","yen refuge"]}
      ],
      "regime_labels": ["Carry Trade On", "BOJ Tightening Surprise", "Risk-Off JPY Safe Haven", "Dollar Bull", "YCC Adjustment"],
      "event_keywords": ["BOJ","Fed","Japan","YCC","Carry","JPY","Yen","taux Japon"],
      "related_assets": ["JPY","USDJPY","6J","Yen"],
      "correlation_instruments": ["TLT","GLD","VXX"],
      "ai_context": "USD/JPY driven by US-Japan rate differential and BOJ yield curve control. USD bullish: Fed hikes, BOJ ultra-dovish. JPY bullish: BOJ tightening surprise, risk-off. Watch: BOJ meetings, 10Y UST-JGB spread."
    },
    {
      "id": "GBPUSD=X",
      "name": "GBP/USD",
      "yf_ticker": "GBPUSD=X",
      "ib_ticker": "GBP.USD",
      "exchange": "FX",
      "category": "fx",
      "currency": "USD",
      "description": "Taux spot Livre Sterling / Dollar américain",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": false },
      "drivers": [
        {"key": "boe_policy",    "label": "BOE Policy",        "type": "event_calendar",  "weight": 0.9,  "keywords": ["BOE","Bank of England","Bailey","taux UK","Royaume-Uni","Angleterre","UK rate","BOE meeting"]},
        {"key": "uk_inflation",  "label": "Inflation UK",      "type": "event_calendar",  "weight": 0.8,  "keywords": ["inflation UK","CPI UK","CPIH","RPI","inflation Angleterre"]},
        {"key": "uk_growth",     "label": "Croissance UK",     "type": "event_calendar",  "weight": 0.75, "keywords": ["GDP UK","PMI UK","croissance UK","récession UK","UK economy","UK GDP"]},
        {"key": "political_risk","label": "Risque Politique UK","type": "geopolitical",   "weight": 0.65, "keywords": ["politique UK","budget UK","Labour","Tories","fiscal UK","gilt","UK budget","Reeves"]}
      ],
      "regime_labels": ["GBP Strength (BOE Hawkish)", "USD Dominance", "Political Risk GBP", "UK Recession Pressure", "Range"],
      "event_keywords": ["BOE","Fed","UK","Britain","GBP","Pound","UK CPI"],
      "related_assets": ["GBP","GBPUSD","6B","Pound"],
      "correlation_instruments": ["EURUSD=X","TLT"],
      "ai_context": "GBP/USD reflects BOE vs Fed differential plus UK political risk premium. GBP bullish: BOE hawkishness, strong UK data, political stability. GBP bearish: UK recession, political uncertainty."
    },
    {
      "id": "VXX",
      "name": "VIX Tracker",
      "yf_ticker": "VXX",
      "ib_ticker": "VXX",
      "exchange": "CBOE",
      "category": "volatility",
      "currency": "USD",
      "description": "iPath VIX Short-Term Futures ETN — proxy de la peur et de la volatilité implicite",
      "chart": { "ma_periods": [10, 20, 50], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "market_stress",     "label": "Stress de Marché",       "type": "geopolitical",    "weight": 0.9,  "keywords": ["krach","crash","crise","choc","panic","volatilité","vol spike","selloff","capitulation","contagion"]},
        {"key": "risk_appetite",     "label": "Peur / Risk-Off",        "type": "sentiment",       "weight": 0.85, "keywords": ["risk-off","risk-on","sentiment","fear","peur","greed","appétit risque","VIX spike"]},
        {"key": "options_demand",    "label": "Demande Options (Puts)", "type": "technical",       "weight": 0.75, "keywords": ["options","puts","hedging","protection","skew","IV","couverture","implied vol","volatilité implicite"]},
        {"key": "macro_uncertainty", "label": "Incertitude Macro",      "type": "event_calendar",  "weight": 0.7,  "keywords": ["FOMC","surprise","incertitude","géopolitique","macro","inflation choc","data surprise"]}
      ],
      "regime_labels": ["Low Vol Complacency", "Vol Spike Crisis", "Vol Expansion", "Vol Compression", "Neutral"],
      "event_keywords": ["VIX","Volatility","Crisis","FOMC","Market Stress","peur","vol spike"],
      "related_assets": ["VXX","VIX","UVXY","SVXY"],
      "correlation_instruments": ["SPY","TLT","GLD"],
      "ai_context": "VXX tracks short-term VIX futures. Spikes on: market crashes, geopolitical shocks, FOMC surprises. Mean-reverts due to futures roll decay. Watch: VIX term structure, SPX put skew."
    },
    {
      "id": "AAPL",
      "name": "Apple Inc",
      "yf_ticker": "AAPL",
      "ib_ticker": "AAPL",
      "exchange": "NASDAQ",
      "category": "stock",
      "currency": "USD",
      "description": "Apple Inc. — ecosystème consommateur tech et services",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "iphone_cycle",   "label": "Cycle iPhone",         "type": "report",          "weight": 0.85, "keywords": ["iPhone","Apple","AAPL earnings","supercycle","launch","iPhone 16","hardware"]},
        {"key": "china_sales",   "label": "Ventes Chine",          "type": "geopolitical",    "weight": 0.8,  "keywords": ["Chine","China","Huawei","ban Apple","restrictions Apple","China sales","marché chinois"]},
        {"key": "ai_integration","label": "Apple Intelligence / IA","type": "fundamental",    "weight": 0.75, "keywords": ["Apple Intelligence","AI","IA","Siri","machine learning","IA Apple","generative AI"]},
        {"key": "margins",       "label": "Services & Marges",      "type": "report",          "weight": 0.7,  "keywords": ["services","App Store","iCloud","marge Apple","services revenue","abonnements"]},
        {"key": "fed_policy",    "label": "Valorisation / Taux",   "type": "event_calendar",  "weight": 0.65, "keywords": ["Fed","taux","valorisation","taux d'intérêt","discount rate"]}
      ],
      "regime_labels": ["Growth Bull", "Rate Squeeze", "Earnings Beat", "Tech Selloff", "Neutral"],
      "event_keywords": ["Apple Earnings","iPhone","Services","China","Fed","AI","AAPL"],
      "related_assets": ["AAPL","Apple"],
      "correlation_instruments": ["QQQ","NVDA","SPY"],
      "ai_context": "AAPL is world's largest market cap. Key drivers: iPhone cycle, Services revenue growth, China exposure, AI integration. Watch: quarterly earnings, China sales, Apple Intelligence traction."
    },
    {
      "id": "NVDA",
      "name": "NVIDIA Corp",
      "yf_ticker": "NVDA",
      "ib_ticker": "NVDA",
      "exchange": "NASDAQ",
      "category": "stock",
      "currency": "USD",
      "description": "NVIDIA Corporation — leader mondial des GPU pour IA et data centers",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "ai_capex_cycle",    "label": "Capex IA / Hyperscalers","type": "fundamental",    "weight": 0.95, "keywords": ["IA","AI","data center","capex","Nvidia","GPU","H100","Blackwell","NVLink","hyperscalers","infrastructure IA"]},
        {"key": "earnings_growth",   "label": "Croissance Bénéfices",  "type": "report",          "weight": 0.9,  "keywords": ["NVDA earnings","résultats Nvidia","revenues","data center revenue","beat","guidance"]},
        {"key": "data_center_demand","label": "Demande Data Center",   "type": "fundamental",     "weight": 0.85, "keywords": ["Amazon AWS","Microsoft Azure","Google Cloud","data center","cloud","computing","GPU demand"]},
        {"key": "export_restrictions","label": "Restrictions Export",  "type": "geopolitical",    "weight": 0.7,  "keywords": ["export control","restrictions export","Chine","China ban","BIS","CISA","H20","chip ban"]},
        {"key": "rates",             "label": "Taux / Valorisation",   "type": "event_calendar",  "weight": 0.6,  "keywords": ["taux","valorisation","growth stock","multiples","discount rate","Fed"]}
      ],
      "regime_labels": ["AI Bull Run", "AI Hype Correction", "Earnings Catalyst", "Rate Compression", "Consolidation"],
      "event_keywords": ["NVIDIA Earnings","AI","Data Center","Export","GPU","NVDA","Blackwell"],
      "related_assets": ["NVDA","NVIDIA","AI"],
      "correlation_instruments": ["QQQ","AAPL","SPY"],
      "ai_context": "NVDA dominates AI infrastructure (H100/Blackwell GPUs). Bullish: AI capex spending, earnings beats, new GPU launches. Bearish: US-China export restrictions, AI spending slowdown."
    },
    {
      "id": "GS",
      "name": "Goldman Sachs",
      "yf_ticker": "GS",
      "ib_ticker": "GS",
      "exchange": "NYSE",
      "category": "stock",
      "currency": "USD",
      "description": "The Goldman Sachs Group — banque d'investissement globale",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "yield_curve",      "label": "Courbe des Taux",      "type": "technical",       "weight": 0.85, "keywords": ["courbe des taux","2Y-10Y","steepening","inversion","yield curve","10Y-2Y","pente"]},
        {"key": "ma_activity",      "label": "M&A / Activité Deals", "type": "fundamental",     "weight": 0.8,  "keywords": ["M&A","fusion-acquisition","LBO","IPO","deal","advisory","boutique","transaction"]},
        {"key": "rates",            "label": "Taux d'Intérêt",       "type": "event_calendar",  "weight": 0.8,  "keywords": ["taux","Fed","intérêts","NIM","net interest margin","Fed rate","interest rates"]},
        {"key": "credit_conditions","label": "Conditions de Crédit", "type": "fundamental",     "weight": 0.75, "keywords": ["crédit","spreads","conditions financières","leverage loans","credit tightening"]}
      ],
      "regime_labels": ["Finance Bull", "Recession Fear", "Yield Curve Steepen", "M&A Boom", "Range"],
      "event_keywords": ["Goldman","Financials","Yield Curve","M&A","Banking","Fed","Credit"],
      "related_assets": ["GS","Goldman","XLF","Financials"],
      "correlation_instruments": ["SPY","TLT","HYG"],
      "ai_context": "Goldman benefits from: steep yield curve, M&A advisory boom, robust trading. Bullish: rate curve steepening, IPO/M&A surge. Bearish: yield curve inversion, recession, credit crisis."
    },
    {
      "id": "XOM",
      "name": "ExxonMobil",
      "yf_ticker": "XOM",
      "ib_ticker": "XOM",
      "exchange": "NYSE",
      "category": "stock",
      "currency": "USD",
      "description": "Exxon Mobil Corporation — major pétrolier intégré mondial",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "oil_price",     "label": "Prix du Pétrole",    "type": "fundamental",     "weight": 0.9,  "keywords": ["WTI","Brent","pétrole","crude","oil price","prix pétrole","cours pétrole"]},
        {"key": "global_demand", "label": "Demande Mondiale",   "type": "fundamental",     "weight": 0.8,  "keywords": ["demande mondiale","China demand","IEA","croissance","global demand","reprise"]},
        {"key": "opec_policy",   "label": "OPEP+ Production",   "type": "event_calendar",  "weight": 0.75, "keywords": ["OPEC","OPEP","quotas","production","Saudi","Arabie Saoudite","réduction"]},
        {"key": "capex",         "label": "Capex / Investissement","type": "fundamental",  "weight": 0.6, "keywords": ["capex","investissement","forage","upstream","exploration","rig count"]},
        {"key": "dollar",        "label": "Dollar Index",       "type": "technical",       "weight": 0.6,  "keywords": ["Dollar","DXY","USD"]}
      ],
      "regime_labels": ["Energy Bull", "Demand Slowdown", "OPEC Benefit", "Green Transition Drag", "Range"],
      "event_keywords": ["Oil","OPEC","Energy","XOM","EIA","Crude","Exxon","WTI"],
      "related_assets": ["XOM","Exxon","CL","Oil","Energy"],
      "correlation_instruments": ["USO","UNG","EEM"],
      "ai_context": "XOM revenues highly correlated to oil/gas prices. Bullish: OPEC cuts, geopolitical supply risk, refining margins. Bearish: oil price collapse, global recession, energy transition."
    },
    {
      "id": "BTC-USD",
      "name": "Bitcoin",
      "yf_ticker": "BTC-USD",
      "ib_ticker": "BTC",
      "exchange": "Crypto",
      "category": "crypto",
      "currency": "USD",
      "description": "Bitcoin — premier actif décentralisé, indicateur de liquidité et Risk-On",
      "chart": { "ma_periods": [20, 50, 200], "bollinger_period": 20, "bollinger_std": 2, "show_volume": true },
      "drivers": [
        {"key": "global_liquidity","label": "Liquidité Mondiale",    "type": "fundamental",     "weight": 0.85, "keywords": ["liquidité mondiale","M2","Fed","QE","QT","conditions financières","liquidity","money supply"]},
        {"key": "etf_flows",      "label": "Flux ETF Bitcoin",       "type": "report",          "weight": 0.85, "keywords": ["ETF Bitcoin","spot BTC ETF","BlackRock","Fidelity","flux ETF","ETF approval","IBIT","FBTC"]},
        {"key": "risk_appetite",  "label": "Sentiment Risk-On",      "type": "sentiment",       "weight": 0.8,  "keywords": ["risk-on","risk-off","crypto","sentiment","appétit pour le risque","halving","cycle crypto"]},
        {"key": "regulatory",     "label": "Réglementation Crypto",  "type": "geopolitical",    "weight": 0.7,  "keywords": ["réglementation crypto","SEC","CFTC","crypto ban","ETF approval","régulation","MiCA"]},
        {"key": "dollar",         "label": "Dollar Index",           "type": "technical",       "weight": 0.65, "keywords": ["Dollar","DXY","USD","dédollarisation"]}
      ],
      "regime_labels": ["Crypto Bull (ETF Inflows)", "Risk-Off Crypto Selloff", "Liquidity Expansion", "Regulatory Fear", "Consolidation"],
      "event_keywords": ["Bitcoin","BTC","Crypto","ETF","Fed","Liquidity","Regulation","halving"],
      "related_assets": ["BTC","Bitcoin","Crypto"],
      "correlation_instruments": ["SPY","QQQ","GLD"],
      "ai_context": "Bitcoin: high-beta risk asset + emerging macro hedge. Bullish: Fed liquidity expansion, spot ETF inflows, halving cycle. Bearish: regulatory crackdown, risk-off, Fed tightening."
    }
  ]
}
