Historical Year Data · 2025

BB HY OAS in 2025

BB HY OAS opened 2025 at 183 bps and closed at 169 bps, a -7.65% move for the year. The high of 306 bps was reached on April 7, and the low of 156 bps on February 18.

Open

183 bps

2025-01

169 bps

261 data points

High

306 bps

Apr 7

Low

156 bps

Feb 18

Full Year Change

-7.65%

2024 Change

-14.29%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	183 bps	166 bps	183 bps	158 bps	-9.29%
Feb	168 bps	182 bps	182 bps	156 bps	+8.33%
Mar	187 bps	224 bps	224 bps	180 bps	+19.79%
Apr	220 bps	254 bps	306 bps	212 bps	+15.45%
May	240 bps	197 bps	240 bps	179 bps	-17.92%
Jun	192 bps	171 bps	192 bps	171 bps	-10.94%
Jul	167 bps	174 bps	179 bps	160 bps	+4.19%
Aug	197 bps	179 bps	197 bps	169 bps	-9.14%
Sep	179 bps	177 bps	186 bps	166 bps	-1.12%
Oct	180 bps	179 bps	207 bps	168 bps	-0.56%
Nov	187 bps	176 bps	197 bps	173 bps	-5.88%
Dec	178 bps	169 bps	185 bps	169 bps	-5.06%

Events During 2025

2025 US Tariff Shock

Stagflation

February – April 2025

The Trump administration imposed reciprocal tariffs averaging 25% on most trading partners in February-April 2025. Markets priced the most aggressive trade policy shift since 1930, with ripple effects across currencies, bond yields, and supply chains.