High yield OAS

Credit & Financial Conditions: Measure the price and availability of credit — the best-performing partner to the term spread in published out-of-sample work. The model averages the standardised signals in each block into a block score, then combines the twelve block scores in a probit. Today the 12-block model reads 1.6%.

Other signals in this block

• Investment grade corporate OAS
• BBB OAS
• CCC and lower OAS
• Moody's Baa minus 10-year Treasury
• Moody's Aaa minus 10-year Treasury
• Excess bond premium (Gilchrist-Zakrajsek)
• Chicago Fed National Financial Conditions Index
• Adjusted NFCI
• NFCI credit subindex
• NFCI leverage subindex
• NFCI risk subindex
• St. Louis Fed financial stress index