Graph and download economic data for ICE BofA BB US High Yield Index Option-Adjusted Spread (BAMLH0A1HYBB) from 1996-12-31 to 2025-12-01 about BB, option-adjusted spread, yield, interest rate, interest, rate, and USA.

View market daily updates and historical trends for US High Yield Master II Option-Adjusted Spread. from United States. Source: Bank of America Merrill Ly…

Graph and download economic data for ICE BofA CCC & Lower US High Yield Index Option-Adjusted Spread (BAMLH0A3HYC) from 1996-12-31 to 2025-12-01 about CCC, option-adjusted spread, yield, interest rate, interest, rate, and USA.

View market daily updates and historical trends for US High Yield B Option-Adjusted Spread. from United States. Source: Bank of America Merrill Lynch. Tra…

Graph and download economic data for ICE BofA Euro High Yield Index Option-Adjusted Spread (BAMLHE00EHYIOAS) from 1997-12-31 to 2025-12-01 about option-adjusted spread, Euro Area, Europe, yield, interest rate, interest, rate, and indexes.

United States - ICE BofA BB US High Yield Index Option-Adjusted Spread was 1.76% in November of 2025, according to the United States Federal Reserve. Historically, United States - ICE BofA BB US High Yield Index Option-Adjusted Spread reached a record high of 14.68 in December of 2008 and a record low of 1.36 in August of 1997. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - ICE BofA BB US High Yield Index Option-Adjusted Spread - last updated from the United States Federal Reserve on December of 2025.

View market daily updates and historical trends for Euro High Yield Index Option-Adjusted Spread. Source: Bank of America Merrill Lynch. Track economic da…

United States - ICE BofA Single-B US High Yield Index Option-Adjusted Spread was 2.96% in October of 2025, according to the United States Federal Reserve. Historically, United States - ICE BofA Single-B US High Yield Index Option-Adjusted Spread reached a record high of 20.84 in November of 2008 and a record low of 2.36 in June of 2007. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - ICE BofA Single-B US High Yield Index Option-Adjusted Spread - last updated from the United States Federal Reserve on October of 2025.

U.S. High Yield Bond Spread - Historical chart and current data through 2025.

View the spread between a computed option-adjusted index of all BBB-rated bonds and a spot Treasury curve.

View market daily updates and historical trends for US High Yield CCC or Below Option-Adjusted Spread. from United States. Source: Bank of America Merrill…

Graph and download economic data for ICE BofA High Yield Emerging Markets Corporate Plus Index Option-Adjusted Spread (BAMLEMHBHYCRPIOAS) from 1998-12-31 to 2025-12-01 about sub-index, emerging markets, option-adjusted spread, yield, corporate, interest rate, interest, rate, and USA.

Graph and download economic data for Moody's Seasoned Baa Corporate Bond Yield Relative to Yield on 10-Year Treasury Constant Maturity (BAA10Y) from 1986-01-02 to 2025-12-01 about Baa, spread, 10-year, maturity, bonds, Treasury, yield, corporate, interest rate, interest, rate, and USA.

View data of the effective yield of an index of non-investment grade publically issued corporate debt in the U.S.

Graph and download economic data for ICE BofA High Yield US Emerging Markets Liquid Corporate Plus Index Option-Adjusted Spread (BAMLEMHYHYLCRPIUSOAS) from 2003-12-31 to 2025-12-01 about sub-index, emerging markets, liquidity, option-adjusted spread, yield, corporate, interest rate, interest, rate, and USA.

High-Yield Bonds Market Outlook

According to our latest research, the global high-yield bonds market size reached USD 2.34 trillion in 2024 and is projected to expand at a robust CAGR of 6.1% during the forecast period, surging to an estimated USD 3.98 trillion by 2033. This significant growth trajectory is primarily driven by a combination of persistent investor appetite for higher returns, ongoing accommodative monetary policies in key economies, and a dynamic corporate financing landscape that favors riskier debt instruments. The market continues to evolve rapidly as both institutional and retail investors seek to optimize their portfolios amid a fluctuating interest rate environment and heightened global economic uncertainty.

One of the most prominent growth factors propelling the high-yield bonds market is the persistent low-yield environment in traditional fixed-income assets, which has encouraged investors to pursue higher-risk, higher-return alternatives. Central banks across developed economies have maintained relatively low interest rates to spur economic recovery post-pandemic, inadvertently compressing yields on government and investment-grade corporate bonds. This scenario has funneled substantial capital into high-yield bonds, particularly from pension funds, insurance companies, and mutual funds seeking to enhance portfolio yields. Furthermore, the search for income in a low-rate world has expanded the investor base, drawing significant interest from both institutional and retail segments.

Another critical driver is the increasing trend of corporate refinancing and leveraged buyouts, especially in sectors undergoing transformation or consolidation. Companies with sub-investment grade ratings are leveraging favorable market conditions to refinance existing debt at lower costs or to support strategic acquisitions, fueling new issuances of high-yield bonds. The market has also witnessed a surge in innovative debt structures and covenant-lite deals, catering to the evolving risk appetite of investors. This dynamism is further accentuated by the rise of emerging market high-yield issuances, as sovereign and corporate entities in developing economies tap into global capital markets to fund growth and infrastructure projects.

Technological advancements and the proliferation of digital trading platforms have also played a pivotal role in shaping the high-yield bonds market. Enhanced access to market data, real-time pricing, and streamlined execution processes have democratized bond investing, making high-yield instruments more accessible to a broader spectrum of investors. Online platforms and fintech innovations have lowered transaction costs, improved transparency, and enabled retail investors to participate more actively in the market. This digital transformation is fostering greater liquidity and efficiency, thereby supporting the overall expansion of the high-yield bonds ecosystem.

Regionally, North America continues to dominate the high-yield bonds market, accounting for nearly 47% of global issuance in 2024. The United States, in particular, remains the epicenter of high-yield activity, driven by a mature capital market infrastructure, a deep pool of institutional investors, and a steady pipeline of corporate issuers. Europe and Asia Pacific are also emerging as significant contributors, with European issuances gaining momentum amid regulatory harmonization and Asia Pacific benefitting from robust economic growth and increasing financial market sophistication. Latin America and the Middle East & Africa are gradually expanding their market share, propelled by sovereign and corporate financing needs, though these regions still face structural and regulatory challenges that temper growth.

Type Analysis

The high-yield bonds market can be segmented by type into Corporate High-Yield Bonds, Sovereign High-Yield Bonds, Emerging Market High-Yield Bonds, and Others. Corporate high-yield bonds represent the largest share of the market, driven by a sustained ap

View market daily updates and historical trends for US High Yield BB Effective Yield. from United States. Source: Bank of America Merrill Lynch. Track eco…

Graph and download economic data for ICE BofA BB US High Yield Index Effective Yield (BAMLH0A1HYBBEY) from 1996-12-31 to 2025-11-30 about BB, yield, interest rate, interest, rate, and USA.

Investment Grade Bonds Market Outlook

According to our latest research, the global investment grade bonds market size reached USD 13.7 trillion in 2024, reflecting the robust demand for secure and stable investment assets worldwide. The market is expected to grow at a CAGR of 4.2% from 2025 to 2033, projecting a value of approximately USD 19.3 trillion by 2033. This growth is primarily driven by increasing investor appetite for lower-risk assets amidst ongoing macroeconomic uncertainties, rising institutional participation, and the need for portfolio diversification. As per our in-depth analysis, the marketÂ’s expansion is further supported by favorable regulatory frameworks and the ongoing digitalization of bond distribution channels.

One of the most significant growth factors for the investment grade bonds market is the heightened demand for financial instruments that offer both capital preservation and predictable income streams. In a global economic environment marked by volatility and evolving interest rate policies, institutional and retail investors are increasingly seeking refuge in high-quality bonds with strong credit ratings. Investment grade bonds, which are rated BBB- or higher by major credit rating agencies, are perceived as safer compared to high-yield or speculative-grade bonds. This perception has been reinforced by recent episodes of financial instability and geopolitical tensions, prompting investors to rebalance their portfolios towards less risky assets. Furthermore, the aging population in developed economies has accentuated the need for stable, income-generating investments to support retirement planning, thereby boosting demand for investment grade bonds.

Another key driver propelling the growth of the investment grade bonds market is the expanding participation of institutional investors such as pension funds, insurance companies, and sovereign wealth funds. These entities typically have large, long-term liabilities and require investments that offer both security and liquidity. Investment grade bonds fit these criteria perfectly, making them a preferred asset class for institutional portfolios. Additionally, regulatory changes such as the implementation of Basel III and Solvency II have encouraged financial institutions to increase their holdings of high-quality liquid assets, further stimulating demand for investment grade bonds. The proliferation of bond ETFs and other passive investment vehicles has also made it easier for a broader range of investors to access this market segment, enhancing overall market liquidity and transparency.

Technological advancements and regulatory support have played a pivotal role in shaping the evolving landscape of the investment grade bonds market. The digitalization of bond issuance and trading platforms has streamlined processes, reduced transaction costs, and improved market accessibility, especially for retail investors. Regulatory initiatives aimed at enhancing transparency, investor protection, and market infrastructure have also contributed to the marketÂ’s growth. For example, the adoption of electronic trading platforms and the standardization of disclosure requirements have made it easier for investors to evaluate risk and make informed decisions. As a result, the market is witnessing increased participation from both traditional and non-traditional investors, driving further expansion.

High-Yield Bonds, often referred to as junk bonds, offer higher returns compared to investment grade bonds due to their higher risk profile. These bonds are typically issued by companies with lower credit ratings, and they attract investors seeking higher yields in exchange for accepting greater risk. In contrast to investment grade bonds, which prioritize capital preservation and safety, high-yield bonds provide an opportunity for investors to enhance their portfolio returns, especially during periods of economic growth. However, the increased risk associated with these bonds requires careful credit analysis and risk management strategies. As the market for high-yield bonds evolves, it continues to play a complementary role to investment grade bonds, offering diversification benefits and higher potential returns for risk-tolerant investors.

From a regional perspective, North America continues to dominate the investment grade bonds market, accounting for the largest s

Graph and download economic data for ICE BofA Asia Emerging Markets Corporate Plus Index Option-Adjusted Spread (BAMLEMRACRPIASIAOAS) from 1998-12-31 to 2025-12-01 about Asia, sub-index, emerging markets, option-adjusted spread, corporate, and USA.