Historical Year Data · 2023
Single-B HY OAS in 2023
Single-B HY OAS opened 2023 at 470 bps and closed at 341 bps, a -27.45% move for the year. The high of 527 bps was reached on May 4, and the low of 340 bps on December 28.
Open
470 bps
2023-01
Close
341 bps
186 data points
High
527 bps
May 4
Low
340 bps
Dec 28
Full Year Change
-27.45%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Apr | 470 bps | 481 bps | 499 bps | 470 bps | +2.34% |
| May | 473 bps | 496 bps | 527 bps | 473 bps | +4.86% |
| Jun | 492 bps | 428 bps | 492 bps | 428 bps | -13.01% |
| Jul | 421 bps | 396 bps | 435 bps | 396 bps | -5.94% |
| Aug | 400 bps | 397 bps | 418 bps | 392 bps | -0.75% |
| Sep | 392 bps | 419 bps | 419 bps | 384 bps | +6.89% |
| Oct | 427 bps | 468 bps | 474 bps | 427 bps | +9.60% |
| Nov | 476 bps | 398 bps | 476 bps | 398 bps | -16.39% |
| Dec | 400 bps | 341 bps | 400 bps | 340 bps | -14.75% |
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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