Historical Year Data · 2023
7-10Y Corporate OAS in 2023
7-10Y Corporate OAS opened 2023 at 163 bps and closed at 126 bps, a -22.70% move for the year. The high of 185 bps was reached on May 4, and the low of 126 bps on December 29.
Open
163 bps
2023-01
Close
126 bps
186 data points
High
185 bps
May 4
Low
126 bps
Dec 29
Full Year Change
-22.70%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Apr | 163 bps | 171 bps | 171 bps | 163 bps | +4.91% |
| May | 172 bps | 175 bps | 185 bps | 171 bps | +1.74% |
| Jun | 174 bps | 163 bps | 174 bps | 163 bps | -6.32% |
| Jul | 161 bps | 151 bps | 163 bps | 151 bps | -6.21% |
| Aug | 151 bps | 153 bps | 157 bps | 151 bps | +1.32% |
| Sep | 153 bps | 157 bps | 157 bps | 150 bps | +2.61% |
| Oct | 158 bps | 163 bps | 165 bps | 158 bps | +3.16% |
| Nov | 164 bps | 136 bps | 164 bps | 136 bps | -17.07% |
| Dec | 137 bps | 126 bps | 138 bps | 126 bps | -8.03% |
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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