Historical Year Data · 2025

Single-B HY OAS in 2025

Single-B HY OAS opened 2025 at 290 bps and closed at 301 bps, a +3.79% move for the year. The high of 486 bps was reached on April 7, and the low of 260 bps on January 22.

Open

290 bps

2025-01

301 bps

261 data points

High

486 bps

Apr 7

Low

260 bps

Jan 22

Full Year Change

+3.79%

2024 Change

-17.09%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	290 bps	271 bps	290 bps	260 bps	-6.55%
Feb	278 bps	288 bps	288 bps	260 bps	+3.60%
Mar	296 bps	368 bps	368 bps	289 bps	+24.32%
Apr	362 bps	411 bps	486 bps	353 bps	+13.54%
May	395 bps	351 bps	395 bps	322 bps	-11.14%
Jun	340 bps	305 bps	340 bps	305 bps	-10.29%
Jul	300 bps	298 bps	310 bps	285 bps	-0.67%
Aug	327 bps	298 bps	327 bps	281 bps	-8.87%
Sep	298 bps	283 bps	307 bps	276 bps	-5.03%
Oct	282 bps	307 bps	328 bps	280 bps	+8.87%
Nov	316 bps	305 bps	340 bps	305 bps	-3.48%
Dec	307 bps	301 bps	311 bps	294 bps	-1.95%

Events During 2025

2025 US Tariff Shock

Stagflation

February – April 2025

The Trump administration imposed reciprocal tariffs averaging 25% on most trading partners in February-April 2025. Markets priced the most aggressive trade policy shift since 1930, with ripple effects across currencies, bond yields, and supply chains.

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