Historical Year Data · 2023
A Corporate OAS in 2023
A Corporate OAS opened 2023 at 114 bps and closed at 88 bps, a -22.81% move for the year. The high of 127 bps was reached on May 4, and the low of 86 bps on December 14.
Open
114 bps
2023-01
Close
88 bps
186 data points
High
127 bps
May 4
Low
86 bps
Dec 14
Full Year Change
-22.81%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Apr | 114 bps | 118 bps | 118 bps | 114 bps | +3.51% |
| May | 118 bps | 119 bps | 127 bps | 116 bps | +0.85% |
| Jun | 119 bps | 110 bps | 119 bps | 110 bps | -7.56% |
| Jul | 109 bps | 100 bps | 110 bps | 100 bps | -8.26% |
| Aug | 100 bps | 103 bps | 107 bps | 100 bps | +3.00% |
| Sep | 103 bps | 107 bps | 107 bps | 102 bps | +3.88% |
| Oct | 108 bps | 114 bps | 115 bps | 108 bps | +5.56% |
| Nov | 115 bps | 93 bps | 115 bps | 93 bps | -19.13% |
| Dec | 93 bps | 88 bps | 94 bps | 86 bps | -5.38% |
Events During 2023
2023 Silicon Valley Bank Collapse
Mixed
March 2023
Silicon Valley Bank collapsed on March 10, 2023, the second-largest bank failure in US history. The Fed's response redefined liquidity backstops for the banking system.
2023 Credit Suisse Forced Merger
Mixed
March 15-19, 2023
Credit Suisse was forced into an emergency acquisition by UBS over the weekend of March 18-19, 2023. The deal wiped out AT1 bondholders while preserving some equity, reshaping bank capital structure risk assessment globally.
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