KEY OBSERVATIONS
For the month of March 2024, the yield on the 10-year US Treasury Note ended at 4.20%, 5 basis points lower from the previous month. The Bloomberg US Corporate Index tightened by 6 basis points to 0.90% over Treasuries. The A Rated Corporate Credit Spread decreased by 5 basis points to 0.77%. The BBB Rated Corporate Credit Spread decreased by 8 basis points to 1.10%.
KEY OBSERVATIONS
For the month of February 2024, the yield on the 10-year US Treasury Note ended at 4.25%, 34 basis points higher from the previous month. The Bloomberg US Corporate Index remained the same at 0.96% over Treasuries. The A Rated Corporate Credit Spread remained the same at 0.82%. The BBB Rated Corporate Credit Spread remained the same at 1.18%.
KEY OBSERVATIONS
For the month of January 2024, the yield on the 10-year US Treasury Note ended at 3.91%, 3 basis points higher from the previous month. The Bloomberg US Corporate Index tightened by 3 basis points to 0.96% over Treasuries. The A Rated Corporate Credit Spread decreased by 3 basis points to 0.82%. The BBB Rated Corporate Credit Spread decreased by 3 basis points to 1.18%.
KEY OBSERVATIONS
For the month of December 2023, the yield on the 10-year US Treasury Note ended at 3.88%, 45 basis points lower from the previous month. The Bloomberg US Corporate Index tightened by 5 basis points to 0.99% over Treasuries. The A Rated Corporate Credit Spread decreased by 3 basis points to 0.85%. The BBB Rated Corporate Credit Spread decreased by 9 basis points to 1.21%.
KEY OBSERVATIONS
For the month of November 2023, the yield on the 10-year US Treasury Note ended at 4.33%, 60 basis points lower from the previous month. The Bloomberg US Corporate Index tightened by 25 basis points to 1.04% over Treasuries. The A Rated Corporate Credit Spread decreased by 25 basis points to 0.88%. The BBB Rated Corporate Credit Spread decreased by 26 basis points to 1.30%.
KEY OBSERVATIONS
For the month of October 2023, the yield on the 10-year US Treasury Note ended at 4.93%, 36 basis points higher from the previous month. The Bloomberg US Corporate Index widened by 8 basis points to 1.29% over Treasuries. The A Rated Corporate Credit Spread increased by 8 basis points to 1.13%. The BBB Rated Corporate Credit Spread increased by 9 basis points to 1.56%.
KEY OBSERVATIONS
For the month of September 2023, the yield on the 10-year US Treasury Note ended at 4.57%, 46 basis points higher from the previous month. The Bloomberg US Corporate Index widened by 3 basis points to 1.21% over Treasuries. The A Rated Corporate Credit Spread increased by 4 basis points to 1.05%. The BBB Rated Corporate Credit Spread increased by 3 basis points to 1.47%.
Los rendimientos del crédito con grado de inversión fueron más débiles en el segundo trimestre, aunque el rendimiento del año hasta la fecha para la clase de activos se mantuvo en territorio positivo. Durante el trimestre, el diferencial ajustado por opciones (Option Adjusted Spread, OAS) en el índice de bonos corporativos de EE. UU. de Bloomberg se redujo en 15 puntos básicos y llegó a 123 después de haber abierto el año con un OAS de 138. Las tasas de interés más altas fueron un obstáculo para los rendimientos, ya que el rendimiento del Tesoro a 10 años aumentó 37 puntos básicos en el período, y pasó del 3.47 % al 3.84 %.
KEY OBSERVATIONS
For the month of June 2023, the yield on the 10-year US Treasury Note ended at 3.84%, 19 basis points higher from the previous month. The Bloomberg US Corporate Index tightened by 15 basis points to 1.23% over Treasuries. The A Rated Corporate Credit Spread decreased by 13 basis points to 1.04%. The BBB Rated Corporate Credit Spread decreased by 17 basis points to 1.52%.
KEY OBSERVATIONS
For the month of May 2023, the yield on the 10-year US Treasury Note ended at 3.65%, 22 basis points higher from the previous month. The Bloomberg US Corporate Index widened by 2 basis points to 1.38% over Treasuries. The A Rated Corporate Credit Spread increased by 1 basis points to 1.17%. The BBB Rated Corporate Credit Spread increased by 3 basis points to 1.69%.