Historical Year Data · 2023
CCC & Lower HY OAS in 2023
CCC & Lower HY OAS opened 2023 at 1081 bps and closed at 902 bps, a -16.56% move for the year. The high of 1112 bps was reached on May 4, and the low of 851 bps on December 29.
Open
1081 bps
2023-01
Close
902 bps
186 data points
High
1112 bps
May 4
Low
851 bps
Dec 29
Full Year Change
-16.56%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Apr | 1081 bps | 1070 bps | 1105 bps | 1070 bps | -1.02% |
| May | 1060 bps | 1072 bps | 1112 bps | 1060 bps | +1.13% |
| Jun | 1067 bps | 943 bps | 1067 bps | 943 bps | -11.62% |
| Jul | 936 bps | 906 bps | 957 bps | 899 bps | -3.21% |
| Aug | 910 bps | 900 bps | 938 bps | 890 bps | -1.10% |
| Sep | 894 bps | 923 bps | 925 bps | 875 bps | +3.24% |
| Oct | 936 bps | 1040 bps | 1041 bps | 936 bps | +11.11% |
| Nov | 1057 bps | 976 bps | 1057 bps | 960 bps | -7.66% |
| Dec | 979 bps | 902 bps | 979 bps | 851 bps | -7.87% |
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.
Related Metrics
Get historical context as markets unfold, regime classification, scenario triggers, and analysis in your inbox.