Credit & Financial Stressweekly
Financial Conditions (NFCI)
Chicago Fed National Financial Conditions Index — positive = tighter than average.
-0.43
1W +0.00%1M +12.29%3M +15.55%
Updated 37m agoUpdated just now
AI Analysis
Apr 2, 2026The critical insight the market may be underpricing is the inflation pipeline lag — PPI at +0.7% 3M is building pressure that will not appear in CPI until April/May releases, meaning financial conditions will face a second tightening shock from inflation data just as markets might be tempted to price in de-escalation.
Recent Data
| Date | Value | Change |
|---|---|---|
| Mar 27, 2026 | -0.43 | +4.46% |
| Mar 20, 2026 | -0.45 | +4.16% |
| Mar 13, 2026 | -0.47 | +4.22% |
| Mar 6, 2026 | -0.49 | +3.71% |
| Feb 27, 2026 | -0.51 | — |
Related in Credit & Financial Stress
HY Credit Spread (OAS)
ICE BofA High Yield Option-Adjusted Spread — the market's price of default risk.
IG Credit Spread (OAS)
ICE BofA Investment Grade OAS — credit stress in high-quality corporate bonds.
HY Effective Yield
HY corporate bond effective yield — total return required by junk bond investors.
IG Effective Yield
IG corporate bond effective yield — cost of investment-grade corporate borrowing.
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