Historical Year Data · 2023
BBB Credit Spread in 2023
BBB Credit Spread opened 2023 at 173 bps and closed at 129 bps, a -25.43% move for the year. The high of 198 bps was reached on March 15, and the low of 129 bps on December 28.
Open
173 bps
2023-01
Close
129 bps
260 data points
High
198 bps
Mar 15
Low
129 bps
Dec 28
Full Year Change
-25.43%
2022 Change
+43.33%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 173 bps | 156 bps | 173 bps | 155 bps | -9.83% |
| Feb | 156 bps | 160 bps | 160 bps | 150 bps | +2.56% |
| Mar | 159 bps | 177 bps | 198 bps | 154 bps | +11.32% |
| Apr | 175 bps | 174 bps | 179 bps | 169 bps | -0.57% |
| May | 173 bps | 176 bps | 185 bps | 173 bps | +1.73% |
| Jun | 176 bps | 161 bps | 176 bps | 161 bps | -8.52% |
| Jul | 160 bps | 147 bps | 160 bps | 147 bps | -8.13% |
| Aug | 147 bps | 151 bps | 156 bps | 147 bps | +2.72% |
| Sep | 151 bps | 153 bps | 153 bps | 147 bps | +1.32% |
| Oct | 154 bps | 162 bps | 163 bps | 154 bps | +5.19% |
| Nov | 163 bps | 139 bps | 163 bps | 138 bps | -14.72% |
| Dec | 139 bps | 129 bps | 140 bps | 129 bps | -7.19% |
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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