Historical Year Data · 2022
IG Credit Spread (OAS) in 2022
IG Credit Spread (OAS) opened 2022 at 97 bps and closed at 138 bps, a +42.27% move for the year. The high of 171 bps was reached on October 12, and the low of 95 bps on January 5.
Open
97 bps
2022-01
Close
138 bps
261 data points
High
171 bps
Oct 12
Low
95 bps
Jan 5
Full Year Change
+42.27%
2021 Change
-5.77%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 97 bps | 110 bps | 110 bps | 95 bps | +13.40% |
| Feb | 108 bps | 130 bps | 132 bps | 108 bps | +20.37% |
| Mar | 133 bps | 122 bps | 152 bps | 122 bps | -8.27% |
| Apr | 120 bps | 141 bps | 141 bps | 115 bps | +17.50% |
| May | 141 bps | 140 bps | 155 bps | 139 bps | -0.71% |
| Jun | 137 bps | 164 bps | 164 bps | 137 bps | +19.71% |
| Jul | 165 bps | 153 bps | 167 bps | 151 bps | -7.27% |
| Aug | 152 bps | 148 bps | 152 bps | 139 bps | -2.63% |
| Sep | 150 bps | 167 bps | 168 bps | 145 bps | +11.33% |
| Oct | 165 bps | 166 bps | 171 bps | 158 bps | +0.61% |
| Nov | 164 bps | 142 bps | 164 bps | 140 bps | -13.41% |
| Dec | 141 bps | 138 bps | 141 bps | 136 bps | -2.13% |
Events During 2022
2022 Fed Rate Hiking Cycle
Stagflation
March–December 2022
The Fed raised rates 425bps in 2022, the fastest hiking cycle since the Volcker era. The 60/40 portfolio posted its worst year since 1937.
2022 UK Mini-Budget & Gilt Crisis
Stagflation
September 23 – October 14, 2022
UK Prime Minister Liz Truss's September 23, 2022 mini-budget triggered a collapse in sterling and gilts. LDI pension strategies faced forced liquidation. The Bank of England intervened to prevent financial instability.
Related Metrics
Get historical context as markets unfold, regime classification, scenario triggers, and analysis in your inbox.