Indicator notes

High-yield bond market stress on May 23, 2025: 75.7 out of 100, in the “Extreme pressure” zone. The previous reading, on May 22, 2025, was 74.1 (“High pressure”): the indicator rose slightly by 1.6 points and crossed the 75 boundary. The “Extreme pressure” zone covers readings from 75 to 100: stress in the high-yield bond market is close to the highest in its history. Before that the indicator had stayed in the “High pressure” zone for 18 trading days in a row. Biggest component moves: “Price lag behind the market” at 76.4 versus 74.4 and “Yield spread over government bonds” at 75.1 versus 73.8. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on May 22, 2025: 41.6 out of 100, in the “Fear” zone. The previous reading, on May 21, 2025, was 47.2 (“Neutral”): the index fell by 5.6 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Stock price strength” at 15.4 versus 39.4 and “Sector volatility” at 73.3 versus 68.2. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on May 22, 2025: 87.8 out of 100, in the “Extreme Greed” zone. The previous reading, on May 21, 2025, was 76.5: the index rose sharply by 11.3 points. That meets our shift threshold of 10 points; the zone did not change. The “Extreme Greed” zone covers readings from 75 to 100: optimism is close to its limit and risk is taken eagerly. The index has now spent 5 trading days in a row in this zone. Biggest component moves: “Funding rate” at 80.3 versus 54.1 and “Volatility” at 97.1 versus 80.1. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on May 22, 2025: 50.4 out of 100, in the “Neutral” zone. The previous reading, on May 21, 2025, was 43.6 (“Fear”): the index rose by 6.8 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. The index spent a single trading day in the “Fear” zone. Biggest component moves: “Funding rate” at 51.4 versus 34.1 and “Volatility” at 38.8 versus 29.7. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on May 22, 2025: 52.0 out of 100, in the “Moderate pressure” zone. The previous reading, on May 21, 2025, was 55.3 (“High pressure”): the indicator fell by 3.3 points and crossed the 55 boundary. The “Moderate pressure” zone covers readings from 45 to 55: pressure on the currency is close to what is usual for its history. The indicator spent a single trading day in the “High pressure” zone. Biggest component moves: “Exchange rate volatility” at 50.5 versus 65.8 and “Currency weakening” at 46.1 versus 44.3. This describes that date's reading; it is not a forecast.

Pressure on the Turkish lira on May 22, 2025: 57.7 out of 100, in the “High pressure” zone. The previous reading, on May 21, 2025, was 54.6 (“Moderate pressure”): the indicator rose by 3.1 points and crossed the 55 boundary. The “High pressure” zone covers readings from 55 to 75: pressure on the currency is clearly above usual. Before that the indicator had stayed in the “Moderate pressure” zone for 4 trading days in a row. Biggest component moves: “Exchange rate volatility” at 58.6 versus 50.5 and “Currency weakening” at 53.3 versus 49.2. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on May 21, 2025: 42.6 out of 100, in the “Fear” zone. The previous reading, on May 20, 2025, was 53.3 (“Neutral”): the index fell sharply by 10.7 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Stock price strength” at 44.9 versus 87.7 and “Sector momentum” at 41.2 versus 42.8. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on May 21, 2025: 47.2 out of 100, in the “Neutral” zone. The previous reading, on May 20, 2025, was 41.8 (“Fear”): the index rose by 5.4 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Fear” zone for 2 trading days in a row. Biggest component moves: “Stock price strength” at 39.4 versus 15.3 and “Sector momentum” at 40.0 versus 44.9. This describes that date's reading; it is not a forecast.

Russian IT and telecom sector fear and greed index on May 21, 2025: 27.9 out of 100, in the “Fear” zone. The previous reading, on May 20, 2025, was 38.0: the index fell sharply by 10.1 points. That meets our shift threshold of 10 points; the zone did not change. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index has now spent 12 trading days in a row in this zone. Biggest component moves: “Stock price strength” at 7.5 versus 45.9 and “Sector momentum” at 24.9 versus 28.5. This describes that date's reading; it is not a forecast.

Ether fear and greed index on May 21, 2025: 43.6 out of 100, in the “Fear” zone. The previous reading, on May 20, 2025, was 47.5 (“Neutral”): the index fell by 3.9 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 2 trading days in a row. Biggest component moves: “Implied volatility” at 13.3 versus 23.4 and “Funding rate” at 34.1 versus 40.4. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on May 21, 2025: 55.3 out of 100, in the “High pressure” zone. The previous reading, on May 20, 2025, was 54.6 (“Moderate pressure”): the indicator rose slightly by 0.7 points and crossed the 55 boundary. The “High pressure” zone covers readings from 55 to 75: pressure on the currency is clearly above usual. The indicator spent a single trading day in the “Moderate pressure” zone. Biggest component moves: “Currency weakening” at 44.3 versus 42.0 and “Exchange rate volatility” at 65.8 versus 65.1. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on May 20, 2025: 51.1 out of 100, in the “Neutral” zone. The previous reading, on May 19, 2025, was 57.5 (“Greed”): the index fell by 6.4 points and crossed the 55 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Greed” zone for 2 trading days in a row. Biggest component moves: “Credit risk appetite” at 65.2 versus 79.7 and “Safe haven demand” at 29.7 versus 42.8. This describes that date's reading; it is not a forecast.

Russian consumer sector fear and greed index on May 20, 2025: 40.2 out of 100, in the “Fear” zone. The previous reading, on May 19, 2025, was 57.5 (“Greed”): the index fell sharply by 17.3 points and crossed the 55 and 45 boundaries. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Greed” zone for 2 trading days in a row. Biggest component moves: “Stock price strength” at 11.8 versus 81.0 and “Sector volatility” at 79.7 versus 77.7. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on May 20, 2025: 53.3 out of 100, in the “Neutral” zone. The previous reading, on May 19, 2025, was 43.0 (“Fear”): the index rose sharply by 10.3 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. The index spent a single trading day in the “Fear” zone. Biggest component moves: “Stock price strength” at 87.7 versus 44.8 and “Sector momentum” at 42.8 versus 43.8. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on May 20, 2025: 54.6 out of 100, in the “Moderate pressure” zone. The previous reading, on May 17, 2025, was 55.9 (“High pressure”): the indicator fell slightly by 1.3 points and crossed the 55 boundary. The “Moderate pressure” zone covers readings from 45 to 55: pressure on the currency is close to what is usual for its history. The indicator spent a single trading day in the “High pressure” zone. Biggest component moves: “Currency weakening” at 42.0 versus 45.1 and “Exchange rate volatility” at 65.1 versus 67.4. This describes that date's reading; it is not a forecast.

Pressure on the Uzbekistani sum on May 20, 2025: 53.0 out of 100, in the “Moderate pressure” zone. The previous reading, on May 17, 2025, was 55.6 (“High pressure”): the indicator fell by 2.6 points and crossed the 55 boundary. The “Moderate pressure” zone covers readings from 45 to 55: pressure on the currency is close to what is usual for its history. Before that the indicator had stayed in the “High pressure” zone for 2 trading days in a row. Biggest component moves: “Currency weakening” at 3.3 versus 13.8 and “Exchange rate volatility” at 95.9 versus 95.8. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on May 19, 2025: 43.0 out of 100, in the “Fear” zone. The previous reading, on May 16, 2025, was 53.2 (“Neutral”): the index fell sharply by 10.2 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 2 trading days in a row. Biggest component moves: “Stock price strength” at 44.8 versus 87.4 and “Sector breadth” at 19.3 versus 17.8. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on May 19, 2025: 42.8 out of 100, in the “Fear” zone. The previous reading, on May 16, 2025, was 46.3 (“Neutral”): the index fell by 3.5 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. Before that the index had stayed in the “Neutral” zone for 6 trading days in a row. Biggest component moves: “Stock price strength” at 15.2 versus 39.0 and “Sector momentum” at 51.5 versus 47.7. This describes that date's reading; it is not a forecast.

Russian industrial sector fear and greed index on May 19, 2025: 48.8 out of 100, in the “Neutral” zone. The previous reading, on May 16, 2025, was 58.8 (“Greed”): the index fell sharply by 10.0 points and crossed the 55 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Greed” zone for 7 trading days in a row. Biggest component moves: “Stock price strength” at 8.5 versus 49.5 and “Sector momentum” at 55.5 versus 53.5. This describes that date's reading; it is not a forecast.

Ether fear and greed index on May 19, 2025: 46.1 out of 100, in the “Neutral” zone. The previous reading, on May 18, 2025, was 42.3 (“Fear”): the index rose by 3.8 points and crossed the 45 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. The index spent a single trading day in the “Fear” zone. Biggest component moves: “Implied volatility” at 26.4 versus 12.2 and “Funding rate” at 26.4 versus 25.6. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Financial anxiety in Armenia on May 18, 2025: 46.5 out of 100, in the “Usual interest” zone. The previous reading, on May 11, 2025, was 56.4 (“Elevated interest”): the index fell by 9.9 points and crossed the 55 boundary. The “Usual interest” zone covers readings from 45 to 55: searches on the topic are about at their usual level. The index spent a single week in the “Elevated interest” zone. Biggest component moves: “Searches about deposits” at 43.3 versus 58.0 and “Searches about the dollar rate” at 49.7 versus 54.8. This describes that date's reading; it is not a forecast.

Financial anxiety in Belarus on May 18, 2025: 27.2 out of 100, in the “Below-usual interest” zone. The previous reading, on May 11, 2025, was 23.0 (“Quiet”): the index rose by 4.2 points and crossed the 25 boundary. The “Below-usual interest” zone covers readings from 25 to 45: searches on the topic are below usual. The index spent a single week in the “Quiet” zone. Biggest component moves: “Searches about the dollar rate” at 48.4 versus 36.9 and “Searches about devaluation” at 13.8 versus 12.5. This describes that date's reading; it is not a forecast.

Financial anxiety in Kyrgyzstan on May 18, 2025: 19.6 out of 100, in the “Quiet” zone. The previous reading, on May 11, 2025, was 28.8 (“Below-usual interest”): the index fell by 9.2 points and crossed the 25 boundary. The “Quiet” zone covers readings from 0 to 25: searches on the topic are well below usual. The index spent a single week in the “Below-usual interest” zone. Biggest component moves: “Searches about deposits” at 4.8 versus 20.2 and “Searches about the dollar rate” at 34.3 versus 37.5. This describes that date's reading; it is not a forecast.

Financial anxiety in Tajikistan on May 18, 2025: 64.4 out of 100, in the “Elevated interest” zone. The previous reading, on May 11, 2025, was 82.7 (“Surge of interest”): the index fell sharply by 18.3 points and crossed the 75 boundary. The “Elevated interest” zone covers readings from 55 to 75: searches on the topic are above usual. The index spent a single week in the “Surge of interest” zone. Biggest component moves: “Searches about deposits” at 65.7 versus 88.1 and “Searches about the dollar rate” at 63.1 versus 77.2. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on May 18, 2025: 81.0 out of 100, in the “Extreme Greed” zone. The previous reading, on May 17, 2025, was 73.2 (“Greed”): the index rose by 7.8 points and crossed the 75 boundary. The “Extreme Greed” zone covers readings from 75 to 100: optimism is close to its limit and risk is taken eagerly. The index spent a single trading day in the “Greed” zone. Biggest component moves: “Funding rate” at 56.0 versus 22.9 and “Price momentum” at 89.7 versus 85.9. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on May 18, 2025: 42.3 out of 100, in the “Fear” zone. The previous reading, on May 17, 2025, was 45.8 (“Neutral”): the index fell by 3.5 points and crossed the 45 boundary. The “Fear” zone covers readings from 25 to 45: investors are cautious and appetite for risk is below normal. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Implied volatility” at 12.2 versus 37.4 and “Funding rate” at 25.6 versus 14.7. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on May 17, 2025: 73.2 out of 100, in the “Greed” zone. The previous reading, on May 16, 2025, was 79.7 (“Extreme Greed”): the index fell by 6.5 points and crossed the 75 boundary. The “Greed” zone covers readings from 55 to 75: appetite for risk is above normal and buying dominates. Before that the index had stayed in the “Extreme Greed” zone for 8 trading days in a row. Biggest component moves: “Funding rate” at 22.9 versus 46.4 and “Volatility” at 85.1 versus 86.7. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on May 17, 2025: 45.8 out of 100, in the “Neutral” zone. The previous reading, on May 16, 2025, was 57.5 (“Greed”): the index fell sharply by 11.7 points and crossed the 55 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. Before that the index had stayed in the “Greed” zone for 2 trading days in a row. Biggest component moves: “Funding rate” at 14.7 versus 57.7 and “Implied volatility” at 37.4 versus 40.1. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on May 17, 2025: 55.9 out of 100, in the “High pressure” zone. The previous reading, on May 16, 2025, was 51.0 (“Moderate pressure”): the indicator rose by 4.9 points and crossed the 55 boundary. The “High pressure” zone covers readings from 55 to 75: pressure on the currency is clearly above usual. The indicator spent a single trading day in the “Moderate pressure” zone. Biggest component moves: “Currency weakening” at 45.1 versus 34.2 and “Exchange rate volatility” at 67.4 versus 58.4. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on May 16, 2025: 55.9 out of 100, in the “Greed” zone. The previous reading, on May 15, 2025, was 54.8 (“Neutral”): the index rose slightly by 1.1 points and crossed the 55 boundary. The “Greed” zone covers readings from 55 to 75: appetite for risk is above normal and buying dominates. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Market volatility” at 71.5 versus 57.6 and “Safe haven demand” at 36.0 versus 45.7. This describes that date's reading; it is not a forecast.