StressSignalNFCI
风险升温A broad Chicago Fed index of U.S. financial conditions across money markets, debt and equity markets, and banking systems.
StressSignal Risk Desk
Read NFCI, ANFCI and STLFSI4 together to separate ordinary market volatility from broader financial pressure.
NFCI
Updated 2026年5月22日
ANFCI
Adjusted for macro conditions
STLFSI4
1W -0.01
Current read
Positive NFCI usually means tighter conditions.
Current read
Negative NFCI values have historically meant looser-than-average financial conditions. Keep watching for a turn higher, not only the current level.
A broad Chicago Fed index of U.S. financial conditions across money markets, debt and equity markets, and banking systems.
The adjusted index removes the part of financial conditions explained by economic activity and inflation.
A St. Louis Fed financial stress index that helps confirm whether pressure is showing up beyond equity volatility.
Use direction and confirmation across series; weekly indexes are slower but better for system-pressure context.
How to read it
The main SEO mistake in this topic is treating every index as the same thing. This page separates conditions, adjusted conditions, and stress confirmation.
The Chicago Fed frames positive NFCI values as tighter-than-average financial conditions and negative values as looser-than-average conditions. The direction of change matters as much as the level.
NFCI describes broad conditions. ANFCI asks whether financial conditions are tighter or looser than the macro backdrop would normally imply.
A financial conditions index can tighten before a crisis. A stress index helps confirm whether the tightening is becoming disorderly enough to matter for risk management.