The US Financial Conditions Index rose to 99.17, the tightest financial conditions since June 2025.

The index has surged 0.77 points over the past 20 days, the fastest increase since March to April 2025.
It is also the second-fastest tightening pace since the Federal Reserve's rate hike cycle began in 2022.
Previously, the index fell to its lowest point since May 2025 in February.
The recent stock market rally was driven by rising Treasury yields, higher oil prices, a strengthening dollar, widening credit spreads, and falling stock prices.
Tighter financial conditions suggest that economic activity will further slow down in the coming months.