HY Credit Spread (OAS)
高收益债信用利差
Sentiment & DerivativesP2Macro CorrelationApplies to: US stocks
Formula
High-yield bond yield − same-duration Treasury
How to read it
Widening = risk-off/recession fears (bearish for equities); narrowing = recovering risk appetite; a macro risk thermometer.
Outputvalue/series
Data source: FRED (BofA HY OAS). Public knowledge, not investment advice.
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Reference metadata — public, well-known indicator definitions. Not investment advice.