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daily · indexed (100 = shared start)

High yield vs Treasuries

Is the market rewarding credit risk, or are investors reaching for safety?

High yield − Treasury+37.1%
Data through 23 Jul 2026
50.0100.0150.0200.0250.0300.0Apr 2007Feb 2011Dec 2014Oct 2018Sep 2022Jul 2026
High yield (HYG)
7-10y Treasury (IEF)
High yield vs Treasuries: summary statistics (Max range)
SeriesFirstLatestMinMax
High yield (HYG)100.0251.268.7253.2
7-10y Treasury (IEF)100.0183.297.3208.5
Source:Yahoo FinanceHYGIEF· Data may be revised by the source.
FormulaHYG and IEF adjusted close indexed to 100 at the shared start
Methodology

HYG (high-yield corporate bonds) and IEF (7-10 year Treasury), both daily, rebased to 100 at their shared start. Uses split- and dividend-adjusted close. HYG above IEF means credit risk is being paid for; a narrowing gap (or inversion) signals risk-off demand for duration and quality.

Source series
HYGHigh yield (HYG)indexed (100 at base)daily · Not seasonally adjustedIEF7-10y Treasury (IEF)indexed (100 at base)daily · Not seasonally adjusted
Freshness
Data through
23 Jul 2026
Last refreshed
24 Jul 2026
Native frequency
daily

The site is refreshed separately from the source. Data through = the latest observation published by Yahoo Finance; last refreshed = when PIER20 last fetched the file.

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