Credit
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Investment-grade and high-yield spreads and yields, Treasuries and SOFR, with their history — the price of the money the build-out borrows.
how it is counted
option-adjusted spread over Treasuries of the corporate bond index the series names (investment grade or high yield), in percent — the price of credit risk. Change: latest observation minus the last observation on or before the lookback date, in percentage points (0.20 = +20 bp). Range: where the latest sits between the 1-year low (0) and high (1).
- US investment-grade spread (OAS)-4 bp on the month · as of 2026-09-23
how it is counted
option-adjusted spread over Treasuries of the corporate bond index the series names (investment grade or high yield), in percent — the price of credit risk
- 0.77%
- US investment-grade effective yield+41 bp on the month · as of 2026-09-23
how it is counted
effective yield of the corporate bond index the series names, or the Treasury constant-maturity yield, in percent
- 5.83%
- US high-yield effective yield+63 bp on the month · as of 2026-09-23
how it is counted
effective yield of the corporate bond index the series names, or the Treasury constant-maturity yield, in percent
- 7.68%
- 10-year Treasury+41 bp on the month · as of 2026-09-23
how it is counted
effective yield of the corporate bond index the series names, or the Treasury constant-maturity yield, in percent
- 5.11%
- 2-year Treasury+61 bp on the month · as of 2026-09-23
how it is counted
effective yield of the corporate bond index the series names, or the Treasury constant-maturity yield, in percent
- 4.85%
- SOFR+22 bp on the month · as of 2026-09-23
how it is counted
the overnight secured financing rate, in percent
- 3.87%
One year, day by day
- US investment-grade spread (OAS)
- US high-yield spread (OAS)
Every series · latest, change and one-year range
| US investment-grade spread (OAS) | 0.77% as of 2026-09-23 | -1 bp since 2026-09-16 | -4 bp since 2026-08-24 | +2 bp since 2026-06-24 | +2 bp since 2025-09-23 | 0.73 – 0.94% | 19% | ok newest 2 days old |
| US high-yield spread (OAS) | 2.73% as of 2026-09-23 | +3 bp since 2026-09-16 | +4 bp since 2026-08-24 | -3 bp since 2026-06-24 | +2 bp since 2025-09-23 | 2.60 – 3.46% | 15% | ok newest 2 days old |
| US investment-grade effective yield | 5.83% as of 2026-09-23 | +9 bp since 2026-09-16 | +41 bp since 2026-08-24 | +69 bp since 2026-06-24 | +107 bp since 2025-09-23 | 4.67 – 5.83% | 100% | ok newest 2 days old |
| US high-yield effective yield | 7.68% as of 2026-09-23 | +15 bp since 2026-09-16 | +63 bp since 2026-08-24 | +74 bp since 2026-06-24 | +128 bp since 2025-09-23 | 6.39 – 7.68% | 100% | ok newest 2 days old |
| 10-year Treasury | 5.11% as of 2026-09-23 | +10 bp since 2026-09-16 | +41 bp since 2026-08-24 | +70 bp since 2026-06-24 | +99 bp since 2025-09-23 | 3.97 – 5.11% | 100% | ok newest 2 days old |
| 2-year Treasury | 4.85% as of 2026-09-23 | +11 bp since 2026-09-16 | +61 bp since 2026-08-24 | +74 bp since 2026-06-24 | +132 bp since 2025-09-23 | 3.38 – 4.85% | 100% | ok newest 2 days old |
| SOFR | 3.87% as of 2026-09-23 | +25 bp since 2026-09-16 | +22 bp since 2026-08-24 | +25 bp since 2026-06-24 | -25 bp since 2025-09-23 | 3.50 – 4.31% | 46% | ok newest 2 days old |