Indicator notes

Russian metals and mining sector fear and greed index on September 23, 2025: 44.0 out of 100, in the “Fear” zone. The previous reading, on September 22, 2025, was 49.9 (“Neutral”): the index fell by 5.9 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 6 trading days in a row. Biggest component moves: “Stock price strength” at 8.2 versus 18.2 and “Sector volatility” at 60.6 versus 69.3. This describes that date's reading; it is not a forecast.

Pressure on the Georgian lari on September 23, 2025: 45.3 out of 100, in the “Moderate pressure” zone. The previous reading, on September 20, 2025, was 44.7 (“Low pressure”): the indicator rose slightly by 0.6 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 27 trading days in a row. Biggest component moves: “Currency weakening” at 61.0 versus 58.6 and “Exchange rate volatility” at 46.9 versus 47.0. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on September 23, 2025: 43.4 out of 100, in the “Low pressure” zone. The previous reading, on September 20, 2025, was 47.7 (“Moderate pressure”): the indicator fell by 4.3 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 3 trading days in a row. Biggest component moves: “Exchange rate volatility” at 33.9 versus 56.1 and “Currency weakening” at 27.8 versus 22.7. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on September 23, 2025: 45.1 out of 100, in the “Moderate pressure” zone. The previous reading, on September 20, 2025, was 44.9 (“Low pressure”): the indicator rose slightly by 0.2 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 2 trading days in a row. Biggest component moves: “Currency weakening” at 78.7 versus 78.1 and “Exchange rate volatility” at 59.2 versus 59.0. This describes that date's reading; it is not a forecast.

High-yield bond market stress on September 22, 2025: 28.3 out of 100, in the “Low pressure” zone. The previous reading, on September 19, 2025, was 23.4 (“Calm”): the indicator rose by 4.9 points and crossed the 25 boundary. The “Low pressure” zone covers readings from 25 to 45: stress in the high-yield bond market is weaker than usual. The indicator spent a single trading day in the “Calm” zone. Biggest component moves: “Yield spread over government bonds” at 51.3 versus 46.0 and “Price lag behind the market” at 5.3 versus 0.8. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Financial anxiety in Armenia on September 21, 2025: 91.0 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 58.7 (“Elevated interest”): the index rose sharply by 32.3 points and crossed the 75 boundary. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Elevated interest” zone. Biggest component moves: “Searches about the dollar rate” at 90.7 versus 43.9 and “Searches about deposits” at 91.3 versus 73.4. This describes that date's reading; it is not a forecast.

Financial anxiety in Belarus on September 21, 2025: 77.5 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 32.6 (“Below-usual interest”): the index rose sharply by 44.9 points and crossed the 45, 55 and 75 boundaries. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Below-usual interest” zone. Biggest component moves: “Searches about the dollar rate” at 90.7 versus 20.2 and “Searches about devaluation” at 62.5 versus 0.3. This describes that date's reading; it is not a forecast.

Financial anxiety in Georgia on September 21, 2025: 91.3 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 39.4 (“Below-usual interest”): the index rose sharply by 51.9 points and crossed the 45, 55 and 75 boundaries. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. Before that the index had stayed in the “Below-usual interest” zone for 5 weeks in a row. Biggest component moves: “Searches about deposits” at 91.3 versus 23.4 and “Searches about the dollar rate” at 91.3 versus 55.4. This describes that date's reading; it is not a forecast.

Financial anxiety in Kyrgyzstan on September 21, 2025: 78.2 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 50.3 (“Usual interest”): the index rose sharply by 27.9 points and crossed the 55 and 75 boundaries. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Usual interest” zone. Biggest component moves: “Searches about the dollar rate” at 89.4 versus 57.4 and “Searches about deposits” at 67.0 versus 43.3. This describes that date's reading; it is not a forecast.

Financial anxiety in Kazakhstan on September 21, 2025: 55.7 out of 100, in the “Elevated interest” zone. The previous reading, on September 14, 2025, was 33.9 (“Below-usual interest”): the index rose sharply by 21.8 points and crossed the 45 and 55 boundaries. The “Elevated interest” zone covers readings from 55 to 75: searches on the topic are above usual. Before that the index had stayed in the “Below-usual interest” zone for 5 weeks in a row. Biggest component moves: “Searches about devaluation” at 47.8 versus 14.4 and “Searches about the dollar rate” at 80.4 versus 58.7. This describes that date's reading; it is not a forecast.

Financial anxiety in Russia on September 21, 2025: 55.9 out of 100, in the “Elevated interest” zone. The previous reading, on September 14, 2025, was 27.7 (“Below-usual interest”): the index rose sharply by 28.2 points and crossed the 45 and 55 boundaries. The “Elevated interest” zone covers readings from 55 to 75: searches on the topic are above usual. Before that the index had stayed in the “Below-usual interest” zone for 3 weeks in a row. Biggest component moves: “Searches about the dollar rate” at 81.7 versus 33.0 and “Searches about devaluation” at 37.5 versus 4.2. This describes that date's reading; it is not a forecast.

Financial anxiety in Tajikistan on September 21, 2025: 84.9 out of 100, in the “Surge of interest” zone. The previous reading, on September 14, 2025, was 68.3 (“Elevated interest”): the index rose sharply by 16.6 points and crossed the 75 boundary. The “Surge of interest” zone covers readings from 75 to 100: searches on the topic are far above usual. The index spent a single week in the “Elevated interest” zone. Biggest component moves: “Searches about the dollar rate” at 84.3 versus 67.0 and “Searches about deposits” at 85.6 versus 69.6. This describes that date's reading; it is not a forecast.

Pressure on the Georgian lari on September 20, 2025: 44.7 out of 100, in the “Low pressure” zone. The previous reading, on September 19, 2025, was 32.2: the indicator rose sharply by 12.5 points. That meets our shift threshold of 10 points; the zone did not change. The “Low pressure” zone covers readings from 25 to 45: pressure on the currency is weaker than usual. The indicator has now spent 27 trading days in a row in this zone. Biggest component moves: “Exchange rate volatility” at 47.0 versus 19.1 and “Currency weakening” at 58.6 versus 36.7. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 19, 2025: 41.3 out of 100, in the “Fear” zone. The previous reading, on September 18, 2025, was 52.5 (“Neutral”): the index fell sharply by 11.2 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 3 trading days in a row. Biggest component moves: “Stock price strength” at 10.6 versus 48.7 and “Sector momentum” at 54.7 versus 59.4. This describes that date's reading; it is not a forecast.

Russian industrial sector fear and greed index on September 19, 2025: 40.3 out of 100, in the “Fear” zone. The previous reading, on September 18, 2025, was 58.1 (“Greed”): the index fell sharply by 17.8 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 30 trading days in a row. Biggest component moves: “Stock price strength” at 6.8 versus 56.3 and “Sector momentum” at 48.9 versus 58.2. This describes that date's reading; it is not a forecast.

High-yield bond market stress on September 19, 2025: 23.4 out of 100, in the “Calm” zone. The previous reading, on September 18, 2025, was 26.2 (“Low pressure”): the indicator fell by 2.8 points and crossed the 25 boundary. The “Calm” zone covers readings from 0 to 25: there is almost no sign of stress in the high-yield bond market. Before that the indicator had stayed in the “Low pressure” zone for 5 trading days in a row. Biggest component moves: “Price lag behind the market” at 0.8 versus 5.5 and “Yield spread over government bonds” at 46.0 versus 47.0. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on September 19, 2025: 59.4 out of 100, in the “Greed” zone. The previous reading, on September 18, 2025, was 69.7: the index fell sharply by 10.3 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 12 trading days in a row in this zone. Biggest component moves: “Funding rate” at 19.0 versus 50.3 and “Price momentum” at 37.7 versus 46.2. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on September 19, 2025: 44.3 out of 100, in the “Low pressure” zone. The previous reading, on September 18, 2025, was 47.0 (“Moderate pressure”): the indicator fell by 2.7 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 4 trading days in a row. Biggest component moves: “International reserves” at 38.8 versus 51.7 and “Currency weakening” at 75.7 versus 73.9. This describes that date's reading; it is not a forecast.

Russian IT and telecom sector fear and greed index on September 18, 2025: 49.2 out of 100, in the “Neutral” zone. The previous reading, on September 17, 2025, was 58.6 (“Greed”): the index fell by 9.4 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 26 trading days in a row. Biggest component moves: “Stock price strength” at 15.4 versus 53.4 and “Sector volatility” at 68.9 versus 60.8. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on September 18, 2025: 46.1 out of 100, in the “Moderate pressure” zone. The previous reading, on September 17, 2025, was 44.2 (“Low pressure”): the indicator rose slightly by 1.9 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. The indicator spent a single trading day in the “Low pressure” zone. Biggest component moves: “Exchange rate volatility” at 54.9 versus 45.3 and “Currency weakening” at 17.6 versus 19.3. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on September 17, 2025: 44.6 out of 100, in the “Fear” zone. The previous reading, on September 16, 2025, was 45.5 (“Neutral”): the index fell slightly by 0.9 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 18 trading days in a row. Biggest component moves: “Sector breadth” at 26.1 versus 29.5 and “Sector volatility” at 84.2 versus 85.0. This describes that date's reading; it is not a forecast.

Russian oil and gas sector fear and greed index on September 17, 2025: 43.6 out of 100, in the “Fear” zone. The previous reading, on September 16, 2025, was 52.8 (“Neutral”): the index fell by 9.2 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 3 trading days in a row. Biggest component moves: “Stock price strength” at 13.7 versus 49.2 and “Sector volatility” at 72.9 versus 76.3. This describes that date's reading; it is not a forecast.

Ether fear and greed index on September 17, 2025: 56.8 out of 100, in the “Greed” zone. The previous reading, on September 16, 2025, was 54.9 (“Neutral”): the index rose slightly by 1.9 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: “Price momentum” at 61.0 versus 56.3 and “Funding rate” at 29.5 versus 26.2. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on September 17, 2025: 54.9 out of 100, in the “Moderate pressure” zone. The previous reading, on September 16, 2025, was 55.0 (“High pressure”): the indicator fell slightly by 0.1 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 11.7 versus 12.5 and “Currency weakening” at 60.4 versus 60.0. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on September 17, 2025: 44.2 out of 100, in the “Low pressure” zone. The previous reading, on September 16, 2025, was 45.3 (“Moderate pressure”): the indicator fell slightly by 1.1 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 4 trading days in a row. Biggest component moves: “Currency weakening” at 19.3 versus 22.7 and “Exchange rate volatility” at 45.3 versus 46.4. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on September 16, 2025: 49.8 out of 100, in the “Neutral” zone. The previous reading, on September 15, 2025, was 62.5 (“Greed”): the index fell sharply by 12.7 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 3 trading days in a row. Biggest component moves: “Stock price strength” at 48.7 versus 97.2 and “Sector momentum” at 62.4 versus 64.4. This describes that date's reading; it is not a forecast.

Ether fear and greed index on September 16, 2025: 54.9 out of 100, in the “Neutral” zone. The previous reading, on September 15, 2025, was 60.8 (“Greed”): the index fell by 5.9 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: “Funding rate” at 26.2 versus 44.2 and “Implied volatility” at 87.5 versus 91.4. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on September 16, 2025: 55.0 out of 100, in the “High pressure” zone. The previous reading, on September 13, 2025, was 51.0 (“Moderate pressure”): the indicator rose by 4.0 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 6 trading days in a row. Biggest component moves: “International reserves” at 82.4 versus 67.6 and “Currency weakening” at 60.0 versus 56.1. This describes that date's reading; it is not a forecast.

Pressure on the Turkish lira on September 16, 2025: 15.3 out of 100, in the “Calm” zone. The previous reading, on September 13, 2025, was 34.0 (“Low pressure”): the indicator fell sharply by 18.7 points and crossed the 25 boundary. The “Calm” zone covers readings from 0 to 25: there is almost no sign of pressure on the currency. Before that the indicator had stayed in the “Low pressure” zone for 29 trading days in a row. Biggest component moves: “International reserves” at 0.1 versus 75.9 and “Exchange rate volatility” at 8.3 versus 6.6. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on September 15, 2025: 54.8 out of 100, in the “Neutral” zone. The previous reading, on September 12, 2025, was 56.2 (“Greed”): the index fell slightly by 1.4 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: “Sector breadth” at 76.5 versus 78.9 and “Sector volatility” at 70.9 versus 72.5. This describes that date's reading; it is not a forecast.