Historical Year Data · 2020
HY Credit Spread (OAS) in 2020
HY Credit Spread (OAS) opened 2020 at 356 bps and closed at 386 bps, a +8.43% move for the year. The high of 1087 bps was reached on March 23, and the low of 338 bps on January 20.
Open
356 bps
2020-01
Close
386 bps
262 data points
High
1087 bps
Mar 23
Low
338 bps
Jan 20
Full Year Change
+8.43%
2019 Change
-32.71%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 356 bps | 403 bps | 403 bps | 338 bps | +13.20% |
| Feb | 397 bps | 506 bps | 506 bps | 356 bps | +27.46% |
| Mar | 497 bps | 877 bps | 1087 bps | 475 bps | +76.46% |
| Apr | 911 bps | 763 bps | 943 bps | 731 bps | -16.25% |
| May | 770 bps | 654 bps | 779 bps | 654 bps | -15.06% |
| Jun | 643 bps | 644 bps | 652 bps | 550 bps | +0.16% |
| Jul | 633 bps | 516 bps | 633 bps | 514 bps | -18.48% |
| Aug | 508 bps | 502 bps | 529 bps | 498 bps | -1.18% |
| Sep | 497 bps | 541 bps | 564 bps | 493 bps | +8.85% |
| Oct | 536 bps | 532 bps | 538 bps | 487 bps | -0.75% |
| Nov | 525 bps | 433 bps | 525 bps | 422 bps | -17.52% |
| Dec | 421 bps | 386 bps | 421 bps | 385 bps | -8.31% |
Events During 2020
2020 COVID Crash & Recovery
Deflation
February–April 2020
The fastest 30%+ decline in S&P 500 history, followed by the fastest recovery. COVID-19 pandemic triggered unprecedented monetary and fiscal intervention.
2019 Hong Kong Protests & Capital Outflows
Mixed
June 2019 – June 2020
Hong Kong's 2019 protests over an extradition bill and Beijing's 2020 National Security Law reshaped the territory's role as Asia's financial hub. Capital outflows, reduced multinational presence, and regulatory divergence from the West had durable effects on regional finance.
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