July 2025

KEY OBSERVATIONS
For the month of July 2025, the yield on the 10-year US Treasury Note ended at 4.38%, 15 basis points higher from the previous month. The Bloomberg US Corporate Index tightened by 7 basis points to 0.76% over Treasuries. The A Rated Corporate Credit Spread decreased by 7 basis points to 0.64%. The BBB Rated Corporate Credit Spread tightened by 7 basis points to 0.95%.