Junk Bond Spread vs Federal Funds Rate

Junk Bond Spread

High-yield bond spread (credit risk)

3.44%
+21.99%
Normal
3.46 3.03 2.60 Feb'26 Mar'26 Apr'26 May'26 Jun'26 Jul'26 Aug'26 Sep'26 Oct'26

Federal Funds Rate

US benchmark interest rate

3.88%
+6.89%
Restrictive
3.88 3.75 3.62 Feb'26 Mar'26 Apr'26 May'26 Jun'26 Jul'26 Aug'26 Sep'26 Oct'26

Indicator Comparison

Junk Bond Spread Federal Funds Rate
Current 3.44% 3.88%
Change +21.99% +6.89%
Status Normal Restrictive
Data Source FRED BAMLH0A0HYM2 FRED DFF
Update Frequency Daily Daily
Last Updated October 30, 2026 October 30, 2026