What if marine heat waves collapse key fisheries and aquaculture output globally?
Marine heatwaves and ocean warming collapse key fisheries and aquaculture output, a protein-supply and coastal-economy channel the FAO and IMF increasingly flag.
how we built this number — every step
The class rate is measured from our dated, sourced event library (decade-normalized Poisson — the full table is public at base_rates.json). The variant’s share within its class is the analyst’s editorial call, published so you can audit it. A wider range means thinner precedent. Full recipe: methodology · scored at Reality Check.
The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (gold) over time vs the crowd's (Polymarket, blue), from the past toward the 1–3 years horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. The gold path is an illustrative reconstruction anchored to today's estimate — real dated events, not a live re-estimate history.
What it would mean
If this plays out, it is a mixed shock. Marine heatwaves and ocean warming collapse key fisheries and aquaculture output, a protein-supply and coastal-economy channel the FAO and IMF increasingly flag. The trigger decomposes into signed root‑shocks — EM currencies ▼ · Climate/crop supply ▲ · Food inflation ▲ · Recession signal ▲ — which propagate through our causal graph to the markets below.
If it happens — the markets it would move
Biggest moves first. Projected moves are cascade-model priors; hist A–B% = what comparable past events actually did (measured abnormal returns), and model prior · unmeasured marks markets with no analogue backing yet. Tap any market for its price history.
| Market | Class | Projected move | |
|---|---|---|---|
| 1 | Wheat WHEATon Hyperliquid 📈 chart | Commodity | ▲ +0.6% hist -0.24–+1.29% · other way -1.94% (n=12) |
| 2 | Corn CORNon Hyperliquid 📈 chart | Commodity | ▲ +0.6% hist -0.32–+1.65% · other way -0.85% (n=12) |
| 3 | Turkish lira TRY 📈 chart | FX | ▼ -0.3% hist -1.42–+0.53% · other way -0.59% (n=12) |
| 4 | Indian rupee INR 📈 chart | FX | ▼ -0.2% hist -1.03–+0.36% · other way -0.42% (n=12) |
| 5 | Semiconductors SMHon Hyperliquid 📈 chart | Equity | ▼ -0.1% hist -0.49–+1.13% · other way +1.0% (n=12) |
| 6 | Natural gas NGon Hyperliquid 📈 chart | Commodity | ▲ +0.1% hist -3.44–+1.07% · other way +13.7% (n=12) |
Probable recommendation
Historical precedent — what analogous events actually did
Across 36 analogous events (overlap‑weighted), as abnormal returns — market beta stripped, so it's the event's own effect, not the market backdrop. Shown at 20 days (persistent) and 5 days (immediate); ↺ fades = the two horizons disagree. Confidence = consistency × sample × significance.
| Asset | History says | Abnormal (20d · 5d) | Hit | n | Confidence | vs cascade |
|---|---|---|---|---|---|---|
| NG NG | SHORT | -3.1% · 5d -3.6% | 64% | 22 | 0.23 | ⚠ differs |
| CORN CORN | LONG | +1.3% · 5d -1.1% ↺ fades | 59% | 22 | 0.17 | ✓ matches cascade |
| Volatility VIX | LONG | +2.8% · 5d +8.3% | 58% | 24 | 0.15 | · |
| SMH SMH | LONG | +1.1% · 5d -0.3% ↺ fades | 59% | 22 | 0.14 | ⚠ differs |
| Bitcoin BTC | LONG | +5.7% · 5d -1.1% ↺ fades | 57% | 14 | 0.12 | · |
| Gold XAU | SHORT | -0.5% · 5d -0.2% | 55% | 22 | 0.09 | · |
| High-yield credit HYG | LONG | +0.8% · 5d -0.1% ↺ fades | 55% | 22 | 0.08 | · |
| WHEAT WHEAT | LONG | +0.9% · 5d -2.7% ↺ fades | 45% | 22 | 0.00 | ✓ matches cascade |
| TRY TRY | SHORT | -1.2% · 5d +1.0% ↺ fades | 45% | 22 | 0.00 | ✓ matches cascade |
| INR INR | SHORT | -0.9% · 5d +0.3% ↺ fades | 41% | 22 | 0.00 | ✓ matches cascade |
| US dollar DXY | LONG | +0.4% · 5d +0.3% | 50% | 36 | 0.00 | · |
| 10y yield DGS10 | LONG | +1bp · 5d +2bp | 45% | 36 | 0.00 | · |