RatesDeskRatesDesk follows the chain from interest rates to asset prices: Fed policy, Treasury yields, credit spreads, volatility, leverage and liquidity. Four composite indices summarize liquidity, risk appetite, financial conditions and fragility on a 0–100 scale, built from open data published by the Federal Reserve, the US Treasury, BEA, BIS, OFR, CFTC, FINRA, CBOE and crypto exchanges.
Current readings · Oct 15, 2026
- Liquidity: 51 of 100, normal
- Risk-on / risk-off: 50 of 100, neutral
- Financial conditions: 43 of 100, normal
- Fragility: 53 of 100, moderate
- Policy: neutral
- Credit markets: stressed
- Volatility: calm
- Fed net liquidity: draining
- Money in the economy: growing
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