Federal Funds Rate vs Junk Bond Spread

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 Nov'26

Junk Bond Spread

High-yield bond spread (credit risk)

3.20%
+13.48%
Normal
3.48 3.04 2.60 Feb'26 Mar'26 Apr'26 May'26 Jun'26 Jul'26 Aug'26 Sep'26 Oct'26 Nov'26

Indicator Comparison

Federal Funds Rate Junk Bond Spread
Current 3.88% 3.20%
Change +6.89% +13.48%
Status Restrictive Normal
Data Source FRED DFF FRED BAMLH0A0HYM2
Update Frequency Daily Daily
Last Updated November 12, 2026 November 12, 2026