Historical Year Data · 2023
10Y-3M Yield Spread in 2023
10Y-3M Yield Spread opened 2023 at -74 bps and closed at -152 bps, a -105.41% move for the year. The high of -62 bps was reached on October 19, and the low of -189 bps on May 4.
Open
-74 bps
2023-01
Close
-152 bps
250 data points
High
-62 bps
Oct 19
Low
-189 bps
May 4
Full Year Change
-105.41%
2022 Change
-134.84%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | -74 bps | -118 bps | -74 bps | -132 bps | -59.46% |
| Feb | -127 bps | -96 bps | -91 bps | -127 bps | +24.41% |
| Mar | -89 bps | -137 bps | -83 bps | -142 bps | -53.93% |
| Apr | -147 bps | -166 bps | -147 bps | -173 bps | -12.93% |
| May | -168 bps | -188 bps | -154 bps | -189 bps | -11.90% |
| Jun | -189 bps | -162 bps | -152 bps | -189 bps | +14.29% |
| Jul | -158 bps | -158 bps | -140 bps | -174 bps | +0.00% |
| Aug | -149 bps | -147 bps | -123 bps | -155 bps | +1.34% |
| Sep | -135 bps | -96 bps | -96 bps | -135 bps | +28.89% |
| Oct | -93 bps | -71 bps | -62 bps | -103 bps | +23.66% |
| Nov | -80 bps | -108 bps | -80 bps | -118 bps | -35.00% |
| Dec | -121 bps | -152 bps | -118 bps | -165 bps | -25.62% |
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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