Option-adjusted spreads (OAS — BDT lattice for callable HY, Z-spread for the rest) · 10 bonds · as of 29 Aug 2026 · empirical percentiles vs each bond's own history · 📖 How to read this › · 📁 Archive (last 130) ›
Basket avg OAS
216 bp
Avg level percentile
74 / 100
Widening — 1w top decile
1 / 10
Stale (no fresh trade)
0 / 10
Investment-Grade average OAS 75 bp(+6 bp since 31 Dec 2025)
Mean OAS of the 7 IG bonds — all names except CoreWeave & SpaceX · since 31 Dec 2025
← swipe the table sideways for changes, trend & history →
CURRENT
LEVEL
1-DAY Δ
1-WEEK Δ
YTD
HISTORY
Issuer / coupon / maturity
Yrs
Yield %
OAS bp
%ile
Δbp
%ile
Δbp
%ile
Δbp
range bp
trend (last 90)
n
CoreWeave 9.75Oct-31HY
5.09
12.06
768
91
-7.9
29
-39.9
8
+226.4*
451–915
101
CoreWeave 9.0Feb-31HY
4.43
11.59
723
87
-1.3
43
-15.8
33
-27.2
416–856
281
Oracle 2.875Mar-31IG
4.57
5.99
164
97
+0.5
56
+0.7
52
+26.6
66–182
419
SpaceX 5.35Jul-31HY⚠
4.88
5.82
145
–
-3.4
–
-4.8
–
+40.5*
104–177
50
Equinix 2.15Jul-30IG
3.88
5.11
78
74
+1.5
72
-6.1
9
+5.8
53–115
419
Micron 2.703Apr-32IG
5.63
5.06
63
27
+4.1
93
+1.7
64
-8.5
29–160
419
Meta 4.55Aug-31IG
4.96
5.00
62
95
-4.0
6
-3.2
21
+23.6
26–78
419
Amazon 2.1May-31IG
4.70
4.92
55
96
+1.6
76
+0.1
49
+22.1
27–71
419
Digital Realty 3.6Jul-29IG
2.84
4.83
55
11
-1.3
31
-2.4
27
-7.8
49–112
419
Alphabet 4.1Feb-31IG
4.47
4.84
48
92
+28.0
99
+56.7
100
+6.7*
-9–51
142
Level %ile tight wide (stress)Δ %ile widening tighteningno trade Nd carried forward — no FINRA trade in N days⚠ short history (n<60)* YTD since issue
Newsworthy — last 48h
No qualifying items in the last 48h (or news step skipped).
Method. OAS = option-adjusted spread over the bootstrapped US Treasury zero curve (from FRED CMT par yields) that reprices each bond's cash flows to its FINRA clean price. For the callable high-yield names (CoreWeave, SpaceX) the embedded call is valued on a Black-Derman-Toy short-rate lattice (CMT curve, lognormal vol per name) and its cost subtracted; the remaining bonds' calls are out-of-the-money (par-call near maturity) so their OAS equals the Z-spread to within a fraction of a bp. Illiquid bonds without a fresh TRACE print carry their last price forward, flagged no trade Nd. Level %ile = today's OAS within the bond's own history; Δ %ile = today's 1d/1w change within all historical same-horizon changes (100 = most extreme widening); PERCENTRANK.INC, suppressed below n=60. The trend sparkline spans each bond's last 90 sessions (shorter if its history is shorter) so all names cover a common window. Watch HY (CoreWeave, SpaceX) blowing out while IG (Meta, Oracle) holds — that divergence is the funding-stress tell. Generated 2026-08-29T06:01:09.