Junk Bond Spread vs Federal Funds Rate

Junk Bond Spread

High-yield bond spread (credit risk)

3.15%
+11.70%
Normal
3.46 3.03 2.60 Feb'26 Mar'26 Apr'26 May'26 Jun'26 Jul'26 Aug'26 Sep'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

Indicator Comparison

Junk Bond Spread Federal Funds Rate
Current 3.15% 3.88%
Change +11.70% +6.89%
Status Normal Restrictive
Data Source FRED BAMLH0A0HYM2 FRED DFF
Update Frequency Daily Daily
Last Updated October 8, 2026 October 8, 2026