High Yield OAS stands at 3.34% as of November 9, 2026, up from 3.15% a year earlier. The reading sits in the 73rd percentile of its history back to 2023.
| Latest (November 9, 2026) | 3.34% |
| One year ago | 3.15% |
| Range since 2023 | 2.59% – 4.61% |
| All-time range | 2.59% (2025) – 4.61% (2025) |
| Change over 12 months | +0.2 pts — bottomed at 2.60% in 2026 |
| Percentile vs. full history | 73rd |
| History | 2023–2026 (895 observations) |
The high-yield option-adjusted spread: extra yield demanded to hold junk bonds over Treasuries. The credit market's fear gauge. Below ~350bp signals confidence; above ~600bp signals stress; spikes past 800bp mark crises. (FRED licensing limits this series to a trailing 3-year window.)
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<a href="https://www.tacticalassetallocation.com/charts/high-yield-spreads/">High Yield OAS — Cambria Chart Lab</a>