Indicator notes

High-yield bond market stress on September 11, 2025: 51.0 out of 100, in the “Moderate pressure” zone. The previous reading, on September 10, 2025, was 56.6 (“High pressure”): the indicator fell by 5.6 points and crossed the 55 boundary. The “Moderate pressure” zone covers readings from 45 to 55: stress in the high-yield bond market 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: “Price lag behind the market” at 54.6 versus 65.8 and “Yield spread over government bonds” at 47.4 versus 47.5. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on September 11, 2025: 46.1 out of 100, in the “Moderate pressure” zone. The previous reading, on September 10, 2025, was 44.7 (“Low pressure”): the indicator rose slightly by 1.4 points and crossed the 45 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 “Low pressure” zone for 4 trading days in a row. Biggest component moves: “Currency weakening” at 22.5 versus 18.4 and “Exchange rate volatility” at 56.4 versus 55.0. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 10, 2025: 75.3 out of 100, in the “Extreme Greed” zone. The previous reading, on September 9, 2025, was 74.4 (“Greed”): the index rose slightly by 0.9 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. Before that the index had stayed in the “Greed” zone for 4 trading days in a row. Biggest component moves: “Stock price strength” at 99.0 versus 93.2 and “Sector momentum” at 77.3 versus 81.4. This describes that date's reading; it is not a forecast.

Pressure on the Armenian dram on September 10, 2025: 55.8 out of 100, in the “High pressure” zone. The previous reading, on September 9, 2025, was 53.6 (“Moderate pressure”): the indicator rose by 2.2 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 11 trading days in a row. Biggest component moves: “Exchange rate volatility” at 43.2 versus 36.9 and “Currency weakening” at 39.0 versus 36.5. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 9, 2025: 74.4 out of 100, in the “Greed” zone. The previous reading, on September 8, 2025, was 63.1: the index rose sharply by 11.3 points. That meets our shift threshold of 10 points; the zone did not change. The “Greed” zone covers readings from 55 to 75: appetite for risk is above normal and buying dominates. The index has now spent 4 trading days in a row in this zone. Biggest component moves: “Stock price strength” at 93.2 versus 49.2 and “Sector breadth” at 59.6 versus 57.8. This describes that date's reading; it is not a forecast.

High-yield bond market stress on September 9, 2025: 57.8 out of 100, in the “High pressure” zone. The previous reading, on September 8, 2025, was 51.0 (“Moderate pressure”): the indicator rose by 6.8 points and crossed the 55 boundary. The “High pressure” zone covers readings from 55 to 75: stress in the high-yield bond market is clearly above usual. Before that the indicator had stayed in the “Moderate pressure” zone for 3 trading days in a row. Biggest component moves: “Price lag behind the market” at 67.8 versus 53.5 and “Yield spread over government bonds” at 47.9 versus 48.5. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on September 9, 2025: 56.4 out of 100, in the “Greed” zone. The previous reading, on September 8, 2025, was 50.7 (“Neutral”): the index rose by 5.7 points and crossed the 55 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 “Neutral” zone for 2 trading days in a row. Biggest component moves: “Funding rate” at 55.8 versus 34.9 and “Implied volatility” at 75.2 versus 72.2. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Russian consumer sector fear and greed index on September 8, 2025: 56.5 out of 100, in the “Greed” zone. The previous reading, on September 5, 2025, was 48.3 (“Neutral”): the index rose by 8.2 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: “Stock price strength” at 51.5 versus 21.2 and “Sector momentum” at 36.6 versus 34.0. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 8, 2025: 58.4 out of 100, in the “Greed” zone. The previous reading, on September 7, 2025, was 49.9 (“Neutral”): the index rose by 8.5 points and crossed the 55 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 “Neutral” zone for 2 trading days in a row. Biggest component moves: “Funding rate” at 62.3 versus 36.3 and “Price momentum” at 23.2 versus 17.1. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Financial anxiety in Armenia on September 7, 2025: 51.3 out of 100, in the “Usual interest” zone. The previous reading, on August 31, 2025, was 36.9 (“Below-usual interest”): the index rose sharply by 14.4 points and crossed the 45 boundary. The “Usual interest” zone covers readings from 45 to 55: searches on the topic are about at their usual level. Before that the index had stayed in the “Below-usual interest” zone for 3 weeks in a row. Biggest component moves: “Searches about deposits” at 61.2 versus 22.8 and “Searches about the dollar rate” at 41.3 versus 51.0. This describes that date's reading; it is not a forecast.

Financial anxiety in Tajikistan on September 7, 2025: 40.1 out of 100, in the “Below-usual interest” zone. The previous reading, on August 31, 2025, was 64.7 (“Elevated interest”): the index fell sharply by 24.6 points and crossed the 55 and 45 boundaries. 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 “Elevated interest” zone. Biggest component moves: “Searches about deposits” at 6.1 versus 60.6 and “Searches about the dollar rate” at 74.0 versus 68.9. This describes that date's reading; it is not a forecast.

Ether fear and greed index on September 7, 2025: 50.3 out of 100, in the “Neutral” zone. The previous reading, on September 6, 2025, was 41.8 (“Fear”): the index rose by 8.5 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 13 trading days in a row. Biggest component moves: “Funding rate” at 48.1 versus 17.9 and “Implied volatility” at 62.1 versus 59.3. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Retail investor FOMO in Russia on September 7, 2025: 74.3 out of 100, in the “Elevated interest” zone. The previous reading, on August 31, 2025, was 56.5: the index rose sharply by 17.8 points. That meets our shift threshold of 10 points; the zone did not change. The “Elevated interest” zone covers readings from 55 to 75: searches on the topic are above usual. The index has now spent 6 weeks in a row in this zone. Biggest component moves: “Searches about buying bitcoin” at 53.5 versus 29.8 and “Searches about buying shares” at 92.0 versus 75.3. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 6, 2025: 48.8 out of 100, in the “Neutral” zone. The previous reading, on September 5, 2025, was 56.4 (“Greed”): the index fell by 7.6 points and crossed the 55 boundary. The “Neutral” zone covers readings from 45 to 55: neither fear nor greed dominates. The index spent a single trading day in the “Greed” zone. Biggest component moves: “Funding rate” at 35.5 versus 65.6 and “Volatility” at 53.0 versus 51.4. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on September 6, 2025: 54.7 out of 100, in the “Moderate pressure” zone. The previous reading, on September 5, 2025, was 55.5 (“High pressure”): the indicator fell slightly by 0.8 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 31 trading days in a row. Biggest component moves: “Exchange rate volatility” at 21.3 versus 23.4 and “Currency weakening” at 64.8 versus 66.2. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on September 5, 2025: 58.4 out of 100, in the “Greed” zone. The previous reading, on September 4, 2025, was 54.2 (“Neutral”): the index rose by 4.2 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: “Stock price strength” at 43.4 versus 33.0 and “Market volatility” at 77.3 versus 67.2. This describes that date's reading; it is not a forecast.

Russian consumer sector fear and greed index on September 5, 2025: 48.3 out of 100, in the “Neutral” zone. The previous reading, on September 4, 2025, was 44.4 (“Fear”): the index rose by 3.9 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 21.2 versus 12.2 and “Sector volatility” at 95.3 versus 87.8. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on September 5, 2025: 76.8 out of 100, in the “Extreme Greed” zone. The previous reading, on September 4, 2025, was 62.2 (“Greed”): the index rose sharply by 14.6 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. Before that the index had stayed in the “Greed” zone for 7 trading days in a row. Biggest component moves: “Stock price strength” at 90.8 versus 51.3 and “Sector volatility” at 89.4 versus 72.9. This describes that date's reading; it is not a forecast.

Russian oil and gas sector fear and greed index on September 5, 2025: 57.4 out of 100, in the “Greed” zone. The previous reading, on September 4, 2025, was 51.5 (“Neutral”): the index rose by 5.9 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: “Sector volatility” at 89.0 versus 68.6 and “Sector momentum” at 47.9 versus 46.1. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 5, 2025: 56.4 out of 100, in the “Greed” zone. The previous reading, on September 4, 2025, was 48.7 (“Neutral”): the index rose by 7.7 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: “Funding rate” at 65.6 versus 42.1 and “Implied volatility” at 93.6 versus 87.8. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on September 5, 2025: 44.5 out of 100, in the “Low pressure” zone. The previous reading, on September 4, 2025, was 48.5 (“Moderate pressure”): the indicator fell by 4.0 points and crossed the 45 boundary. The “Low pressure” zone covers readings from 25 to 45: pressure on the currency is weaker than usual. Before that the indicator had stayed in the “Moderate pressure” zone for 25 trading days in a row. Biggest component moves: “Exchange rate volatility” at 48.3 versus 63.2 and “Currency weakening” at 24.5 versus 25.5. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on September 4, 2025: 54.2 out of 100, in the “Neutral” zone. The previous reading, on September 3, 2025, was 58.9 (“Greed”): the index fell by 4.7 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 9 trading days in a row. Biggest component moves: “Safe haven demand” at 45.1 versus 68.0 and “Credit risk appetite” at 33.6 versus 39.4. This describes that date's reading; it is not a forecast.

Russian consumer sector fear and greed index on September 4, 2025: 44.4 out of 100, in the “Fear” zone. The previous reading, on September 3, 2025, was 47.3 (“Neutral”): the index fell by 2.9 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 3 trading days in a row. Biggest component moves: “Stock price strength” at 12.2 versus 20.9 and “Sector breadth” at 45.5 versus 48.7. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 4, 2025: 55.8 out of 100, in the “Greed” zone. The previous reading, on September 3, 2025, was 54.5 (“Neutral”): the index rose slightly by 1.3 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: “Sector volatility” at 43.4 versus 36.0 and “Sector breadth” at 57.8 versus 61.2. This describes that date's reading; it is not a forecast.

Russian oil and gas sector fear and greed index on September 4, 2025: 51.5 out of 100, in the “Neutral” zone. The previous reading, on September 3, 2025, was 41.3 (“Fear”): the index rose sharply by 10.2 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 8 trading days in a row. Biggest component moves: “Stock price strength” at 49.0 versus 13.6 and “Sector volatility” at 68.6 versus 62.6. This describes that date's reading; it is not a forecast.

High-yield bond market stress on September 4, 2025: 49.1 out of 100, in the “Moderate pressure” zone. The previous reading, on September 3, 2025, was 58.8 (“High pressure”): the indicator fell by 9.7 points and crossed the 55 boundary. The “Moderate pressure” zone covers readings from 45 to 55: stress in the high-yield bond market is close to what is usual for its history. The indicator spent a single trading day in the “High pressure” zone. The component that moved most: “Price lag behind the market” at 46.1 versus 65.6. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 4, 2025: 48.7 out of 100, in the “Neutral” zone. The previous reading, on September 3, 2025, was 44.9 (“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: “Funding rate” at 42.1 versus 24.2 and “Price momentum” at 14.7 versus 17.1. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 3, 2025: 54.5 out of 100, in the “Neutral” zone. The previous reading, on September 2, 2025, was 43.6 (“Fear”): the index rose sharply by 10.9 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 49.1 versus 10.5 and “Sector volatility” at 36.0 versus 31.4. This describes that date's reading; it is not a forecast.

High-yield bond market stress on September 3, 2025: 58.8 out of 100, in the “High pressure” zone. The previous reading, on September 2, 2025, was 47.9 (“Moderate pressure”): the indicator rose sharply by 10.9 points and crossed the 55 boundary. The “High pressure” zone covers readings from 55 to 75: stress in the high-yield bond market is clearly above usual. The indicator spent a single trading day in the “Moderate pressure” zone. Biggest component moves: “Price lag behind the market” at 65.6 versus 45.6 and “Yield spread over government bonds” at 52.1 versus 50.1. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 3, 2025: 44.9 out of 100, in the “Fear” zone. The previous reading, on September 2, 2025, was 52.3 (“Neutral”): the index fell by 7.4 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 4 trading days in a row. Biggest component moves: “Funding rate” at 24.2 versus 59.3 and “Implied volatility” at 87.8 versus 83.2. 4 of 6 components were available. This describes that date's reading; it is not a forecast.