Junk Bond Spread vs Federal Funds Rate

Junk Bond Spread

High-yield bond spread (credit risk)

2.72%
-3.55%
Low Risk
3.46 3.04 2.63 Feb'26 Mar'26 Apr'26 May'26 Jun'26

Federal Funds Rate

US benchmark interest rate

3.63%
+0.00%
Restrictive
3.64 3.63 3.62 Feb'26 Mar'26 Apr'26 May'26 Jun'26

Indicator Comparison

Junk Bond Spread Federal Funds Rate
Current 2.72% 3.63%
Change -3.55% +0.00%
Status Low Risk Restrictive
Data Source FRED BAMLH0A0HYM2 FRED DFF
Update Frequency Daily Daily
Last Updated July 6, 2026 July 6, 2026