Historical Year Data · 2023
AAA Credit Spread in 2023
AAA Credit Spread opened 2023 at 60 bps and closed at 40 bps, a -33.33% move for the year. The high of 72 bps was reached on March 15, and the low of 34 bps on December 1.
Open
60 bps
2023-01
Close
40 bps
260 data points
High
72 bps
Mar 15
Low
34 bps
Dec 1
Full Year Change
-33.33%
2022 Change
+9.43%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 60 bps | 56 bps | 60 bps | 54 bps | -6.67% |
| Feb | 56 bps | 59 bps | 59 bps | 54 bps | +5.36% |
| Mar | 59 bps | 57 bps | 72 bps | 55 bps | -3.39% |
| Apr | 57 bps | 57 bps | 59 bps | 54 bps | +0.00% |
| May | 57 bps | 54 bps | 61 bps | 54 bps | -5.26% |
| Jun | 54 bps | 51 bps | 57 bps | 51 bps | -5.56% |
| Jul | 51 bps | 48 bps | 52 bps | 48 bps | -5.88% |
| Aug | 48 bps | 47 bps | 51 bps | 47 bps | -2.08% |
| Sep | 48 bps | 47 bps | 48 bps | 45 bps | -2.08% |
| Oct | 48 bps | 49 bps | 50 bps | 46 bps | +2.08% |
| Nov | 49 bps | 35 bps | 49 bps | 35 bps | -28.57% |
| Dec | 34 bps | 40 bps | 41 bps | 34 bps | +17.65% |
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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