This post first appeared on FloatingPath

The Chicago Fed’s National Financial Conditions Index was a reading of -0.90 for the week ending November 8. This is a decrease from the prior week’s reading of -0.89, and suggests that financial conditions are looser than the week prior and looser than average.

The adjusted NFCI, which isolates a component of financial conditions uncorrelated with economic conditions to provide an update on financial conditions relative to current economic conditions, was a reading of -0.38. This is a decrease from the prior week’s revised reading of -0.37, indicating that financial conditions are looser on average than would be suggested by economic conditions and more loose relative to economic conditions than the week prior.

NFCI

The risk subindex was a reading of -0.90, indicating that financial conditions were looser than the prior week’s reading of -0.89 and looser than average.

The credit subindex was a reading of -0.77 last week, indicating that financial conditions were looser than the prior week’s reading of -0.76 and looser than average.

The leverage subindex was a reading of -0.58 last week, indicating that financial conditions were unchanged from the prior week’s reading and looser than average.

NFCI Components1 600x375 NFCI Loosens To  0.90

The nonfinancial leverage subindex was a reading of -0.62 last week, an increase from the prior week’s reading of -0.63 but below average.

NFCI Nonfinancial 600x375 NFCI Loosens To  0.90