Historical Year Data · 2023
BB HY OAS in 2023
BB HY OAS opened 2023 at 273 bps and closed at 205 bps, a -24.91% move for the year. The high of 333 bps was reached on May 4, and the low of 202 bps on December 28.
Open
273 bps
2023-01
Close
205 bps
186 data points
High
333 bps
May 4
Low
202 bps
Dec 28
Full Year Change
-24.91%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Apr | 273 bps | 293 bps | 300 bps | 273 bps | +7.33% |
| May | 285 bps | 310 bps | 333 bps | 285 bps | +8.77% |
| Jun | 306 bps | 264 bps | 306 bps | 264 bps | -13.73% |
| Jul | 259 bps | 245 bps | 271 bps | 242 bps | -5.41% |
| Aug | 247 bps | 256 bps | 270 bps | 247 bps | +3.64% |
| Sep | 251 bps | 275 bps | 280 bps | 251 bps | +9.56% |
| Oct | 281 bps | 292 bps | 311 bps | 281 bps | +3.91% |
| Nov | 293 bps | 236 bps | 293 bps | 236 bps | -19.45% |
| Dec | 240 bps | 205 bps | 240 bps | 202 bps | -14.58% |
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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