## Figure 1.2. Global Financial Conditions

## Source details

**Canonical URL:** [Figure 1.2. Global Financial Conditions](https://www.imf.org/-/media/files/publications/gfsr/2019/april/english/ch1data/charts/figure1-2.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2019/april/english/ch1data/charts/figure1-2.pdf.md)
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### Key findings and interpretations
- "US financial conditions have tightened, on net, but remain accommodative."
- "The early-2019 rebound in markets helped attenuate the tightening in financial conditions in the euro area."
- "In China, financial conditions remain broadly stable as market pressures have been offset by policy easing."
- "Financial conditions in other emerging markets have been stable in early 2019, after tightening significantly in 2018 due to higher external borrowing costs."

### Index components and labels (as presented)
- EM external costs
- Corporate valuations
- Interest rates
- House prices
- Index

### Series headings (panel order)
- 1. Financial Conditions Index: United States
- 2. Financial Conditions Index: Euro Area
- 3. Financial Conditions Index: China
- 4. Financial Conditions Index: Systemically Important Emerging Market Economies Other than China

### Chart scale and reference markers (exact values shown)
- Z-score axis markers: –1.0, –0.5, 0.0, 0.5, 1.0, 1.5, 2.0, 2.5
- Secondary axis markers: –0.8, –0.6, –0.4, –0.2, 0.0, 0.2, 0.4, 0.6, 0.8
- Additional z-score axis markers: –1.0, –0.8, –0.6, –0.4, –0.2, 0.0, 0.2, 0.4
- Year markers shown: 2012 13 14 15 16 17 18 19 (presented as contiguous digits in the source: 201213141516171819 and 13141516171819 and 201213141516171819)

### Note and definitions (verbatim)
- "The z-score indicates an observation’s distance from the population mean in units of standard deviation. EM = emerging market."

*Sources: Bank for International Settlements; Bloomberg Finance L.P.; Haver Analytics; IMF, International Financial Statistics database; and IMF staff calculations.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2019/april/english/ch1data/charts/figure1-2.pdf_