The US economic trend has weakened a bit in recent weeks, but remains well above levels that signal imminent danger, based on a markets-based profile of macro conditions. The Macro-Markets Risk Index (MMRI) closed at 9.7% on Tuesday, September 3—a level that suggests that business cycle risk remains low. Although the latest 9.7% value is near the lowest readings of the year so far, it’s still well above the danger zone of 0%. If MMRI falls under 0%, that would be a sign that recession risk is elevated. By comparison, readings above 0% imply a bias for economic growth.