Introducing the Carver Regulatory Pressure Index (RPI)

Environment

Peak Sep-24 (+3.00)3,241 events28 months tracked3 consecutive months

+3.00

Critically elevated — a major regulatory episode is underway. Pressure has been elevated for 3 consecutive months — a sustained episode. Peak was Sep-24 (+3.00); currently near peak levels.

Consumer Staples

Peak Jan-25 (+3.00)2,952 events29 months tracked6 consecutive months

+2.60

Critically elevated — a major regulatory episode is underway. Pressure has been elevated for 6 consecutive months — a sustained episode. Peak was Jan-25 (+3.00); currently near peak levels.

Energy

Peak Oct-24 (+3.00)5,101 events29 months tracked13 consecutive months

+2.12

Significantly above baseline. Monitor closely for continuation. Pressure has been elevated for 13 consecutive months — a sustained episode. Peak was Oct-24 (+3.00); currently easing from that peak.

Materials

Peak Jul-24 (+3.00)1,037 events29 months tracked10 consecutive months

+1.88

Significantly above baseline. Monitor closely for continuation. Pressure has been elevated for 10 consecutive months — a sustained episode. Peak was Jul-24 (+3.00); currently easing from that peak.

Industrials

Peak Oct-24 (+3.00)5,526 events29 months tracked9 consecutive months

+1.67

Significantly above baseline. Monitor closely for continuation. Pressure has been elevated for 9 consecutive months — a sustained episode. Peak was Oct-24 (+3.00); currently easing from that peak.

Utilities

Peak Oct-24 (+3.00)1,600 events27 months tracked4 consecutive months

+1.29

Moderately elevated — above recent average but not alarming. Pressure has been elevated for 4 consecutive months — a sustained episode. Peak was Oct-24 (+3.00); currently easing from that peak.

Consumer Discretionary

Peak Apr-25 (+3.00)2,513 events29 months tracked10 consecutive months

+1.21

Moderately elevated — above recent average but not alarming. Pressure has been elevated for 10 consecutive months — a sustained episode. Peak was Apr-25 (+3.00); currently easing from that peak.

Health Care

Peak Jan-25 (+3.00)13,613 events29 months tracked14 consecutive months

+1.14

Moderately elevated — above recent average but not alarming. Pressure has been elevated for 14 consecutive months — a sustained episode. Peak was Jan-25 (+3.00); currently easing from that peak.

Information Technology

Peak Jul-24 (+3.00)7,885 events29 months tracked

+0.93

Moderately elevated — above recent average but not alarming. Peak was Jul-24 (+3.00); currently easing from that peak.

Communication Services

Peak Oct-24 (+3.00)2,455 events29 months tracked

+0.69

Moderately elevated — above recent average but not alarming. Peak was Oct-24 (+3.00); currently easing from that peak.

Financials

Peak Jan-25 (+3.00)63,667 events29 months tracked

+0.35

At baseline — no unusual pressure detected this month. Peak was Jan-25 (+3.00); currently easing from that peak.

Sector	RPI score	MoM	Events	Months tracked
Environment	+3.00	→	3,241	28
Consumer Staples	+2.60	▲	2,952	29
Energy	+2.12	▼	5,101	29
Materials	+1.88	▼	1,037	29
Industrials	+1.67	▼	5,526	29
Utilities	+1.29	▼	1,600	27
Consumer Discretionary	+1.21	→	2,513	29
Health Care	+1.14	▼	13,613	29
Information Technology	+0.93	▼	7,885	29
Communication Services	+0.69	▼	2,455	29
Financials	+0.35	▼	63,667	29