Indicator notes

High-yield bond market stress on December 5, 2025: 63.0 out of 100, in the “High pressure” zone. The previous reading, on December 4, 2025, was 34.9 (“Low pressure”): the indicator rose sharply by 28.1 points and crossed the 45 and 55 boundaries. 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 “Low pressure” zone for 5 trading days in a row. Biggest component moves: “Price lag behind the market” at 54.7 versus 18.4 and “Yield spread over government bonds” at 71.3 versus 51.5. 2 of 3 components were available. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on December 5, 2025: 22.5 out of 100, in the “Extreme Fear” zone. The previous reading, on December 4, 2025, was 25.8 (“Fear”): the index fell by 3.3 points and crossed the 25 boundary. The “Extreme Fear” zone covers readings from 0 to 25: investors are avoiding risk and selling dominates. The index spent a single trading day in the “Fear” zone. Biggest component moves: “Implied volatility” at 40.4 versus 45.3 and “Price momentum” at 8.6 versus 13.3. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on December 5, 2025: 47.4 out of 100, in the “Neutral” zone. The previous reading, on December 4, 2025, was 61.2 (“Greed”): the index fell sharply by 13.8 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: “Implied volatility” at 30.3 versus 60.4 and “Funding rate” at 57.7 versus 78.8. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on December 5, 2025: 23.3 out of 100, in the “Calm” zone. The previous reading, on December 4, 2025, was 25.3 (“Low pressure”): the indicator fell by 2.0 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. The indicator spent a single trading day in the “Low pressure” zone. Biggest component moves: “Currency weakening” at 29.3 versus 36.6 and “International reserves” at 7.2 versus 12.2. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on December 4, 2025: 64.2 out of 100, in the “Greed” zone. The previous reading, on December 3, 2025, was 54.9 (“Neutral”): the index rose by 9.3 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: “Stock price strength” at 55.0 versus 17.9 and “Sector breadth” at 56.4 versus 57.2. This describes that date's reading; it is not a forecast.

Russian oil and gas sector fear and greed index on December 4, 2025: 55.4 out of 100, in the “Greed” zone. The previous reading, on December 3, 2025, was 54.9 (“Neutral”): the index rose slightly by 0.5 points and crossed the 55 boundary. The “Greed” zone covers readings from 55 to 75: appetite for risk is above normal and buying dominates. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Sector volatility” at 65.2 versus 64.0 and “Sector momentum” at 49.5 versus 49.1. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on December 4, 2025: 25.8 out of 100, in the “Fear” zone. The previous reading, on December 3, 2025, was 19.9 (“Extreme Fear”): the index rose by 5.9 points and crossed the 25 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 “Extreme Fear” zone for 3 trading days in a row. Biggest component moves: “Funding rate” at 37.1 versus 10.5 and “Price momentum” at 13.3 versus 15.5. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on December 4, 2025: 61.2 out of 100, in the “Greed” zone. The previous reading, on December 3, 2025, was 46.4 (“Neutral”): the index rose sharply by 14.8 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 78.8 versus 36.3 and “Volatility” at 70.3 versus 54.9. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Serbian dinar on December 4, 2025: 42.0 out of 100, in the “Low pressure” zone. The previous reading, on December 3, 2025, was 45.8 (“Moderate pressure”): the indicator fell by 3.8 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 9 trading days in a row. Biggest component moves: “Exchange rate volatility” at 11.7 versus 22.1 and “Currency weakening” at 67.6 versus 72.4. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on December 4, 2025: 25.3 out of 100, in the “Low pressure” zone. The previous reading, on December 3, 2025, was 23.9 (“Calm”): the indicator rose slightly by 1.4 points and crossed the 25 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 “Calm” zone for 2 trading days in a row. Biggest component moves: “Currency weakening” at 36.6 versus 32.8 and “Exchange rate volatility” at 37.0 versus 35.1. This describes that date's reading; it is not a forecast.

Pressure on the Uzbekistani sum on December 4, 2025: 37.0 out of 100, in the “Low pressure” zone. The previous reading, on December 3, 2025, was 50.0 (“Moderate pressure”): the indicator fell sharply by 13.0 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 65 trading days in a row. Biggest component moves: “International reserves” at 15.8 versus 64.3 and “Exchange rate volatility” at 76.1 versus 79.0. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on December 3, 2025: 59.1 out of 100, in the “Greed” zone. The previous reading, on December 2, 2025, was 54.5 (“Neutral”): the index rose by 4.6 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: “Put and call options” at 82.8 versus 54.9 and “Stock price strength” at 49.6 versus 60.3. This describes that date's reading; it is not a forecast.

Russian metals and mining sector fear and greed index on December 3, 2025: 54.9 out of 100, in the “Neutral” zone. The previous reading, on December 2, 2025, was 65.9 (“Greed”): the index fell sharply by 11.0 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 3 trading days in a row. Biggest component moves: “Stock price strength” at 17.9 versus 55.1 and “Sector momentum” at 51.9 versus 56.1. This describes that date's reading; it is not a forecast.

Russian oil and gas sector fear and greed index on December 3, 2025: 54.9 out of 100, in the “Neutral” zone. The previous reading, on December 2, 2025, was 56.2 (“Greed”): the index fell slightly by 1.3 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 momentum” at 49.1 versus 53.1 and “Sector volatility” at 64.0 versus 64.8. This describes that date's reading; it is not a forecast.

Russian financial sector fear and greed index on December 2, 2025: 69.1 out of 100, in the “Greed” zone. The previous reading, on December 1, 2025, was 58.4: the index rose sharply by 10.7 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 7 trading days in a row in this zone. Biggest component moves: “Stock price strength” at 92.0 versus 48.7 and “Sector momentum” at 43.0 versus 44.5. This describes that date's reading; it is not a forecast.

Ether fear and greed index on December 2, 2025: 47.2 out of 100, in the “Neutral” zone. The previous reading, on December 1, 2025, was 32.9 (“Fear”): the index rose sharply by 14.3 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: “Implied volatility” at 53.6 versus 22.6 and “Funding rate” at 55.8 versus 34.7. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Pressure on the Russian rouble on December 2, 2025: 24.3 out of 100, in the “Calm” zone. The previous reading, on November 29, 2025, was 25.9 (“Low pressure”): the indicator fell slightly by 1.6 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 13 trading days in a row. Biggest component moves: “Currency weakening” at 34.6 versus 40.0 and “Exchange rate volatility” at 35.0 versus 36.4. This describes that date's reading; it is not a forecast.

Russian market fear and greed index on December 1, 2025: 54.6 out of 100, in the “Neutral” zone. The previous reading, on November 28, 2025, was 55.3 (“Greed”): the index fell slightly by 0.7 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: “Put and call options” at 57.6 versus 67.8 and “Market volatility” at 44.3 versus 40.8. This describes that date's reading; it is not a forecast.

Russian chemicals and fertilizers sector fear and greed index on December 1, 2025: 55.6 out of 100, in the “Greed” zone. The previous reading, on November 28, 2025, was 66.4: the index fell sharply by 10.8 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 5 trading days in a row in this zone. Biggest component moves: “Stock price strength” at 59.8 versus 99.4 and “Sector breadth” at 17.0 versus 19.9. This describes that date's reading; it is not a forecast.

Russian electric utilities sector fear and greed index on December 1, 2025: 77.3 out of 100, in the “Extreme Greed” zone. The previous reading, on November 28, 2025, was 64.5 (“Greed”): the index rose sharply by 12.8 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. Before that the index had stayed in the “Greed” zone for 8 trading days in a row. Biggest component moves: “Stock price strength” at 95.8 versus 48.5 and “Sector breadth” at 57.4 versus 54.7. This describes that date's reading; it is not a forecast.

Russian oil and gas sector fear and greed index on December 1, 2025: 55.6 out of 100, in the “Greed” zone. The previous reading, on November 28, 2025, was 54.6 (“Neutral”): the index rose slightly by 1.0 point 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 3 trading days in a row. Biggest component moves: “Sector breadth” at 51.3 versus 48.9 and “Sector momentum” at 53.9 versus 53.1. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on December 1, 2025: 18.1 out of 100, in the “Extreme Fear” zone. The previous reading, on November 30, 2025, was 27.1 (“Fear”): the index fell by 9.0 points and crossed the 25 boundary. The “Extreme Fear” zone covers readings from 0 to 25: investors are avoiding risk and selling dominates. The index spent a single trading day in the “Fear” zone. Biggest component moves: “Funding rate” at 26.2 versus 44.5 and “Implied volatility” at 30.0 versus 38.5. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on December 1, 2025: 32.9 out of 100, in the “Fear” zone. The previous reading, on November 30, 2025, was 45.3 (“Neutral”): the index fell sharply by 12.4 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. The index spent a single trading day in the “Neutral” zone. Biggest component moves: “Funding rate” at 34.7 versus 52.7 and “Implied volatility” at 22.6 versus 36.3. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Financial anxiety in Armenia on November 30, 2025: 75.6 out of 100, in the “Surge of interest” zone. The previous reading, on November 23, 2025, was 45.5 (“Usual interest”): the index rose sharply by 30.1 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 deposits” at 90.1 versus 48.4 and “Searches about the dollar rate” at 61.2 versus 42.6. This describes that date's reading; it is not a forecast.

Financial anxiety in Georgia on November 30, 2025: 30.8 out of 100, in the “Below-usual interest” zone. The previous reading, on November 23, 2025, was 50.6 (“Usual interest”): the index fell sharply by 19.8 points and crossed the 45 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 “Usual interest” zone. Biggest component moves: “Searches about deposits” at 24.7 versus 76.0 and “Searches about the dollar rate” at 36.9 versus 25.3. This describes that date's reading; it is not a forecast.

Financial anxiety in Kyrgyzstan on November 30, 2025: 44.2 out of 100, in the “Below-usual interest” zone. The previous reading, on November 23, 2025, was 52.6 (“Usual interest”): the index fell by 8.4 points and crossed the 45 boundary. The “Below-usual interest” zone covers readings from 25 to 45: searches on the topic are below usual. Before that the index had stayed in the “Usual interest” zone for 2 weeks in a row. Biggest component moves: “Searches about deposits” at 49.0 versus 68.9 and “Searches about the dollar rate” at 39.4 versus 36.2. This describes that date's reading; it is not a forecast.

Bitcoin fear and greed index on November 30, 2025: 27.1 out of 100, in the “Fear” zone. The previous reading, on November 29, 2025, was 18.8 (“Extreme Fear”): the index rose by 8.3 points and crossed the 25 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 “Extreme Fear” zone for 9 trading days in a row. Biggest component moves: “Funding rate” at 44.5 versus 11.4 and “Volatility” at 18.5 versus 17.1. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Ether fear and greed index on November 30, 2025: 45.3 out of 100, in the “Neutral” zone. The previous reading, on November 29, 2025, was 37.2 (“Fear”): the index rose by 8.1 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 6 trading days in a row. Biggest component moves: “Funding rate” at 52.7 versus 15.2 and “Implied volatility” at 36.3 versus 42.9. 4 of 6 components were available. This describes that date's reading; it is not a forecast.

Retail investor FOMO in Russia on November 30, 2025: 73.0 out of 100, in the “Elevated interest” zone. The previous reading, on November 23, 2025, was 44.3 (“Below-usual interest”): the index rose sharply by 28.7 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 2 weeks in a row. Biggest component moves: “Searches about buying bitcoin” at 81.7 versus 33.0 and “Searches about buying shares” at 90.1 versus 68.9. This describes that date's reading; it is not a forecast.

Pressure on the Kazakhstani tenge on November 29, 2025: 41.9 out of 100, in the “Low pressure” zone. The previous reading, on November 28, 2025, was 45.7 (“Moderate pressure”): the indicator fell by 3.8 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: “Exchange rate volatility” at 53.5 versus 63.9 and “Currency weakening” at 3.5 versus 8.3. This describes that date's reading; it is not a forecast.