Option-adjusted spreads (OAS — BDT lattice for callable HY, Z-spread for the rest) · 10 bonds · as of 26 Sep 2026 · empirical percentiles vs each bond's own history · 📖 How to read this › · 📁 Archive (last 130) ›
Basket avg OAS
219 bp
Avg level percentile
71 / 100
Widening — 1w top decile
1 / 10
Stale (no fresh trade)
0 / 10
Investment-Grade average OAS 71 bp(+2 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
5.01
13.16
814
95
-9.8
23
+6.3
43
+272.6*
451–915
118
CoreWeave 9.0Feb-31HY
4.35
12.37
736
88
-13.4
25
+13.0
57
-14.7
416–856
298
Oracle 2.875Mar-31IG
4.49
6.60
159
94
+9.7
97
+19.0
96
+21.4
66–182
436
SpaceX 5.35Jul-31HY
4.80
6.48
146
67
+10.6
98
+15.8
84
+41.5*
104–177
67
Equinix 2.15Jul-30IG
3.80
5.77
78
72
+2.5
84
+2.7
74
+5.7
43–115
436
Digital Realty 3.6Jul-29IG
2.76
5.57
61
34
+4.0
93
+1.1
64
-1.7
47–112
436
Meta 4.55Aug-31IG
4.88
5.57
55
89
-0.2
46
+0.1
53
+16.1
19–78
436
Amazon 2.1May-31IG
4.62
5.54
52
92
+5.9
97
+3.5
79
+19.0
27–71
436
Micron 2.703Apr-32IG
5.55
5.54
49
2
-8.5
2
-8.6
11
-22.7
29–160
436
Alphabet 4.1Feb-31IG
4.39
5.45
43
78
+3.0
87
+3.5
78
+1.8*
-9–51
159
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 2026-09-26T06:01:03.