Historical Year Data · 2022
BBB Credit Spread in 2022
BBB Credit Spread opened 2022 at 120 bps and closed at 172 bps, a +43.33% move for the year. The high of 210 bps was reached on October 12, and the low of 117 bps on January 5.
Open
120 bps
2022-01
Close
172 bps
261 data points
High
210 bps
Oct 12
Low
117 bps
Jan 5
Full Year Change
+43.33%
2021 Change
-7.63%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 120 bps | 134 bps | 134 bps | 117 bps | +11.67% |
| Feb | 133 bps | 160 bps | 160 bps | 132 bps | +20.30% |
| Mar | 164 bps | 149 bps | 185 bps | 149 bps | -9.15% |
| Apr | 147 bps | 171 bps | 171 bps | 142 bps | +16.33% |
| May | 172 bps | 173 bps | 189 bps | 170 bps | +0.58% |
| Jun | 170 bps | 204 bps | 204 bps | 169 bps | +20.00% |
| Jul | 205 bps | 192 bps | 208 bps | 191 bps | -6.34% |
| Aug | 191 bps | 185 bps | 191 bps | 175 bps | -3.14% |
| Sep | 188 bps | 206 bps | 207 bps | 181 bps | +9.57% |
| Oct | 203 bps | 203 bps | 210 bps | 196 bps | +0.00% |
| Nov | 201 bps | 177 bps | 201 bps | 175 bps | -11.94% |
| Dec | 175 bps | 172 bps | 175 bps | 170 bps | -1.71% |
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.
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