Federal Reserve Economic Data: Your trusted data source since 1991

5-Year High Quality Market (HQM) Corporate Bond Spot Rate (HQMCB5YR)

Observation:

Feb 2024: 4.81 (+ more)   Updated: Mar 6, 2024
Feb 2024:  4.81  
Jan 2024:  4.76  
Dec 2023:  4.80  
Nov 2023:  5.39  
Oct 2023:  5.76  
View All

Units:

Percent,
Not Seasonally Adjusted

Frequency:

Monthly

NOTES

Source: U.S. Department of the Treasury  

Release: Corporate Bond Yield Curve  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

The spot rate for any maturity is defined as the yield on a bond that gives a single payment at that maturity. This is called a zero coupon bond. Because high quality zero coupon bonds are not generally available, the HQM methodology computes the spot rates so as to make them consistent with the yields on other high quality bonds. The HQM yield curve uses data from a set of high quality corporate bonds rated AAA, AA, or A that accurately represent the high quality corporate bond market.

The HQM methodology projects yields beyond 30 years maturity out to 100 years maturity to get discount rates for long-dated pension liabilities.

For more information see https://www.treasury.gov/resource-center/economic-policy/corp-bond-yield/Pages/Corp-Yield-Bond-Curve-Papers.aspx

Suggested Citation:

U.S. Department of the Treasury, 5-Year High Quality Market (HQM) Corporate Bond Spot Rate [HQMCB5YR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/HQMCB5YR, March 19, 2024.


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