---
title: "Financial Stress"
description: "Kansas City Fed Financial Stress Index (KCFSI) + ECB EU Financial Stress Indicator — 11-indicator stress composites with level-coloured interpretation."
---

The **Financial Stress** panel (internal id `fsi`) surfaces two parallel stress composites — one for the US, one for the EU — in a single reading so analysts can see when financial-market stress is co-moving across the two anchors.

## What the panel shows

Two side-by-side readings:

- **US KCFSI** — Kansas City Fed Financial Stress Index: 11-indicator composite built from yield spreads, volatility, and cross-correlations. Positive values indicate above-average stress; negative values, below-average.
- **EU FSI** — ECB's EU Financial Stress Indicator.

Each reading includes:

- **Current level** with a label (`Low Stress` / `Moderate Stress` / `Elevated Stress` / `High Stress`).
- **Colour-bucketed indicator** — green (`#27ae60`) at Low, orange (`#f39c12`) at Moderate, burnt orange (`#e67e22`) at Elevated, and deep red (`#c0392b`) at High (`fsiLabelColor()` in `src/components/FSIPanel.ts`).
- **Interpretation string** explaining what the current level means for financial conditions (`fsiInterpretation()`).

Panel id is `fsi`; canonical component is `src/components/FSIPanel.ts`. Title from i18n; config name: "Financial Stress".

## How you reach it

- **Cmd+K**: type *fsi*, *financial stress*, or *kcfsi*.
- **Availability by variant**: registered in the **full/geopolitical** variant (disabled by default — opt-in, `enabled: false, priority: 2`) and enabled by default in the **finance** variant (`priority: 1`). Not present in the tech, commodity, or happy variants. Source: `'fsi'` entries in `FULL_PANELS` (`:108`-ish) and `FINANCE_PANELS` of `src/config/panels.ts`.

## Data sources

The panel uses the generated RPC clients directly:

- **Market service** (`MarketServiceClient`) — KCFSI series.
- **Economic service** (`EconomicServiceClient.getEuFsi()`) — EU FSI (`GetEuFsiResponse`).
- **Bootstrap-hydrated data** — the panel prefers `getHydratedData(...)` first and falls back to fresh RPC calls (the standard hydration pattern).

Upstream KCFSI data is from the Federal Reserve Bank of Kansas City; EU FSI is from the ECB.

## Refresh cadence

Weekly for both KCFSI (published by KC Fed) and EU FSI (published by ECB). The panel reads the hydrated snapshot on mount; no polling.

## Tier & gating

**Free.** No `premium` flag in either variant registration. Both backing RPCs are public.

## API reference

- [Economic service](/api/EconomicService.openapi.yaml) — includes `GetEuFsi` and the broader macro family.
- [Markets service](/api/MarketService.openapi.yaml) — includes the KCFSI series.
