SCORE is one number for momentum on both sides of the risk trade, bonds and equities. It tells you which way the market is leaning right now and how hard, so you can read the tape without watching eight tickers at once.
Watch one side on its own and you will miss what the other is saying. A payrolls beat that steepens the curve and a risk-off bid that flattens it are very different events for stocks, and a gauge that only watches one of them cannot tell the two apart. Read both and you have the whole macro posture rather than half of it.
A risk-off session, bonds bid and equities heavy, reads differently from a broad reflation push. The number gives you momentum and direction. It is not a price target and it is not a trade signal.
The score takes live price momentum across the tracked bond and equity instruments and blends it with the flow off the market-moving [feed](/). That is the same stream that drives the rest of the desk, with duplicates stripped out and every item scored for impact.
Economic releases arrive through the standardized surprise z-score, which is why a print that lands well away from consensus moves the score more than a marginal one. It means the number reacts to new information instead of chasing the last tick.
The reading tells you which way the combined tape is pushing and whether that push is strong or fading. Use it to get your bearings, then check it against the curve and spread board and the feed, either to confirm what you are already seeing or to argue with it. It is not an entry trigger on its own. A strong reading going into an FOMC decision or on a heavy data day means something different from the same reading on a quiet afternoon.
The score sits on the live [desk](/) next to the feed, the release breakdowns, the auction panel and the rates board. When a release or a Fed headline moves it, you can go straight to the item that caused it. The methodology page covers how the surprise inputs are standardized.
