| Processes | Measures |
|---|
| Information asymmetry | Credit spreads, funding spreads, foreign exchange market, and banking market |
| Fundamental value uncertainty | Financial volatility, foreign exchange market, equity valuations, and stock market return, real estate |
| Behavioral uncertainty | Financial volatility, equity market, and foreign exchange market |
| Flight to liquidity | Money market, foreign exchange market, interest rates, securitization, and funding spreads |
| Flight to quality | Safe assets, security market, foreign exchange market, sovereign debt, sovereign market, bond market, debt market and credit spreads |
| Concerns on banking health | Banking market, foreign exchange market, financial intermediares, and funding spreads |
