Historical Year Data · 2023
10Y-2Y Yield Spread in 2023
10Y-2Y Yield Spread opened 2023 at -61 bps and closed at -35 bps, a +42.62% move for the year. The high of -13 bps was reached on October 25, and the low of -108 bps on July 3.
Open
-61 bps
2023-01
Close
-35 bps
250 data points
High
-13 bps
Oct 25
Low
-108 bps
Jul 3
Full Year Change
+42.62%
2022 Change
-162.35%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | -61 bps | -69 bps | -61 bps | -74 bps | -13.11% |
| Feb | -70 bps | -89 bps | -69 bps | -89 bps | -27.14% |
| Mar | -88 bps | -58 bps | -38 bps | -107 bps | +34.09% |
| Apr | -54 bps | -60 bps | -46 bps | -64 bps | -11.11% |
| May | -55 bps | -76 bps | -38 bps | -77 bps | -38.18% |
| Jun | -72 bps | -106 bps | -72 bps | -106 bps | -47.22% |
| Jul | -108 bps | -91 bps | -83 bps | -108 bps | +15.74% |
| Aug | -87 bps | -76 bps | -63 bps | -87 bps | +12.64% |
| Sep | -69 bps | -44 bps | -44 bps | -77 bps | +36.23% |
| Oct | -43 bps | -19 bps | -13 bps | -43 bps | +55.81% |
| Nov | -18 bps | -36 bps | -18 bps | -47 bps | -100.00% |
| Dec | -34 bps | -35 bps | -34 bps | -53 bps | -2.94% |
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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