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US financial conditions (NFCI)

−0.55
index, 0 = average, 25 Sept 2026

Inside its usual range of −0.58 to 0.15. The low is −1.10, in August 1993. Down from −0.53 a year ago.

198020002020−2.000.002.004.006.005.23, Jul 1974−1.10, Aug 1993usual range, −0.58 to 0.15−0.5519801990200020102020−2.000.002.004.006.005.23, Jul 1974−1.10, Aug 1993usual range, −0.58 to 0.15−0.5519801990200020102020−2.002.004.006.005.23, Jul 1974−1.10, Aug 1993usual range, −0.58 to 0.15−0.5519801990200020102020−2.002.004.006.005.23, Jul 1974−1.10, Aug 1993usual range, −0.58 to 0.15−0.55

What it is. The Chicago Fed's index of US financial conditions. Zero is average; above zero is tighter than average.

How to read it. Combines borrowing costs, credit spreads, volatility and leverage. Negative readings mean money is easy to get.

Source: Federal Reserve Bank of Chicago Method Data

The numbers

Latest−0.5525 Sept 2026
A week ago−0.55
A month ago−0.56
A year ago−0.53
Usual range−0.58 to 0.15
Median−0.39
Lowest−1.1013 Aug 1993
Highest5.2319 Jul 1974
Percentile, full history32
Percentile, last 5 years11

The usual range is the middle half of readings since 1971. A percentile is the share of the 2,908 readings since 8 Jan 1971 that were below today's. Data: statistics, history (JSON); history as CSV.

To cite: tipsheet, “US financial conditions (NFCI)”, data to 25 Sept 2026, https://tipsheet.markets/i/financial-conditions/

Read it with

Fed balance sheet 6,743below its record
The broad dollar 121.4above usual
US net liquidity 5,747above usual
Brent crude 114.0above usual
US CPI inflation 3.4%usual
Nifty 50 and S&P 500, 1-year correlation 0.45usual

the usual range: the middle half of all readingstodayEach line runs from the lowest reading ever to the highest.