Historical Year Data · 2016
HY Credit Spread (OAS) in 2016
HY Credit Spread (OAS) opened 2016 at 710 bps and closed at 422 bps, a -40.56% move for the year. The high of 887 bps was reached on February 11, and the low of 411 bps on December 27.
Open
710 bps
2016-01
Close
422 bps
262 data points
High
887 bps
Feb 11
Low
411 bps
Dec 27
Full Year Change
-40.56%
2015 Change
+36.81%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 710 bps | 777 bps | 827 bps | 703 bps | +9.44% |
| Feb | 779 bps | 775 bps | 887 bps | 775 bps | -0.51% |
| Mar | 746 bps | 705 bps | 746 bps | 665 bps | -5.50% |
| Apr | 705 bps | 621 bps | 713 bps | 619 bps | -11.91% |
| May | 616 bps | 597 bps | 653 bps | 597 bps | -3.08% |
| Jun | 601 bps | 621 bps | 657 bps | 582 bps | +3.33% |
| Jul | 612 bps | 569 bps | 616 bps | 539 bps | -7.03% |
| Aug | 569 bps | 510 bps | 573 bps | 504 bps | -10.37% |
| Sep | 512 bps | 497 bps | 527 bps | 497 bps | -2.93% |
| Oct | 493 bps | 491 bps | 493 bps | 460 bps | -0.41% |
| Nov | 505 bps | 467 bps | 520 bps | 464 bps | -7.52% |
| Dec | 462 bps | 422 bps | 464 bps | 411 bps | -8.66% |
Events During 2016
2014-2016 Oil Price Collapse
Deflation
June 2014 – February 2016
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
2016 Brexit Vote
Goldilocks
June 23–24, 2016
The UK voted to leave the European Union on June 23, 2016. The pound fell 10% overnight, its largest single-day drop since floating in 1971.
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