European Market Monitor

This monitor provides a comprehensive snapshot of European and global fixed-income yields and spreads as of May 29, 2026, comparing current metrics against 10-year historical ranges and various maturity buckets.

Key Takeaways

• 1.Yields across all fixed income sectors have risen significantly since 2020-2021, with EUR Treasury yields currently at 2.85% compared to -0.44% at YE2020.
• 2.High-yield sectors offer the highest effective yields, with EUR Corporate HY at 4.46% and USD Corporate HY (EUR hedged) at 4.76%.
• 3.Option-Adjusted Spreads (OAS) have tightened for core government bonds, with EUR Treasury OAS at 4 bps, significantly lower than its 2024 peak of 34 bps.

Table of Contents

• Summary table
• Effective Yield (%) – Fixed Income sectors
• OAS (bps) – Fixed Income sectors
• Capital Adjusted Yield
• Yield to Worst – 52 weeks range
• OAS – 52 weeks range
• Yield to Worst – 10 years of history
• OAS – 10 years of history
• Yield to Worst by maturity bucket
• OAS by maturity bucket
• FX hedge adjustment – 5 years of history
• Important information

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