🇺🇸❗️Monetary Conditions Ease On The Week to Highest Since March: Cable FX Macro

**As seen in Macro Walk report 07/14/23, subscribe at cablefxm.co.uk/reports

• An indicator of financial conditions in the U.S. constructed by Bloomberg extended into the highest level since March. The move was marginal, however, the level is closing to erase all declines from the March banking crisis

• We remind you that positive readings mean that monetary conditions are easing, negative prints mean conditions are tightening

• Within bond market indicators, the high-yield 10-year spread has contracted to a 52-week low, last at 379 basis points. Muni market and junk debt spreads are below their one-year averages. In the risk space, the VIX and the S&P 500 Index are at the most extended levels in a year, the volatility gauge is currently at 13.5