The trend since 2019.
The current read: HY Credit Spread (OAS) is at 2.79% as of July 2026. Source: FRED/BEA via Indicators IQ.
Why it matters.
When this spread tightens, it means companies with weaker credit ratings can borrow more cheaply, which fuels hiring and growth but can also encourage reckless borrowing that creates problems later.
Where it fits.
HY Credit Spread (OAS) feeds the Credit view — one of the six areas behind the site's Macro IQ score.