"The chart library has the Bloomberg US Financial Conditions Index. It is a composite index of money market spreads, bond market spreads and volatility. It is interesting that this index broke down before the current breakdown of the S&P from its trading range. The index also gave advance warning of a recovery both in 2008-9 and in the slowdown of 2010.

"My understanding is that Bloomberg also publishes a similar index of Financial Conditions in Europe. Could we please have this index in the chart library? If Bloomberg does not have such an index I am sure that someone has constructed an index that could be made available in the chart library.

"I think that stabilization and recovery of the credit markets (both money markets and bond markets) MUST precede and give advance warning of any recovery in the equity markets. Having a composite index of the credit markets of Europe would be very useful. Thank You."

Eoin Treacy's view Thank you for this suggestion and I appreciate your logic. However, following a lengthy back and forth with Bloomberg's help desk this morning, they concluded that they do not have an equivalent index for anywhere outside the USA. The only financial conditions indices I found are that supported by Bloomberg, which is in the Chart Library, the Chicago Fed National Financial Conditions Index and the Bank of Canada Financial Conditions Index. There are a number of other proprietary measures we do not have access to. If one of the Collective can suggest a suitable composite index including money market, bond and equity yields for Europe or Asia I would be happy to add it to the Chart Library.