In this article we study the perverse sheaf on Drinfeld's compactification obtained by applying the geometric Jacquet functor (alias nearby cycles) to a nondegenerate Whittaker sheaf. Namely, we describe its restrictions along the defect stratification in terms of the Langlands dual Lie algebra, in particular showing that this nearby cycles sheaf is tilting. We also describe the subquotients of the monodromy filtration using the Picard-Lefschetz oscillators introduced by S. Schieder, including a proof that the subquotients are semisimple without reference to any theory of weights. This argument instead relies on the action of the Langlands dual Lie algebra on compactified Eisenstein series (or what is essentially the same, cohomology of quasimaps into the flag variety) constructed by Feigin, Finkelberg, Kuznetsov, and Mirković.