Credit and leverage
Korea AA- Credit Spread 3Y
The Korean AA- 3-year corporate bond yield minus the 3-year treasury yield. This spread is the risk premium on high-grade corporate funding and the standard thermometer of stress in Korea's credit market, widening when funding conditions tighten.
Korea AA- Credit Spread 3Y latest observations
- Observed
- 2026-10-28
- Latest
- 0.68 pp
- Change from previous
- ▼ -0.01 pp
Check the observation dates in both the summary and chart; release and refresh times can differ.
At a glance
Korea AA- Credit Spread 3Y: latest value and prior change
As of 2026-10-27, Korea AA- Credit Spread 3Y is 0.69 pp. It is 0.00 pp higher than 0.69 pp on 2026-10-26.
Within the default comparison window of 1,000 observations from 2022-09-27 to 2026-10-27, the latest value is at the tie-adjusted 62nd percentile. Available history covers 2014-01-02 to 2026-10-27 with 3,156 observations.
- Observed on
- Default comparison window
- 2022-09-27–2026-10-27
- Observations · observed cadence
- 1,000 · Daily
- Data source
- Bank of Korea ECOS
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
2026-07-29 → 2026-10-27 · pp
- First
- 0.71 pp
- 2026-07-29
- Latest
- 0.69 pp
- 2026-10-27
- Window low
- 0.66 pp
- 2026-09-15
- Window high
- 0.72 pp
- 2026-08-05
The horizontal axis follows observation order; calendar intervals may differ. High and low refer to observed values within this window, not intraday or all-time extremes. Ties show the first observation date.
Time-series chart
Korea AA- Credit Spread 3Y
2014-01-02–2026-10-27
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Recent observations and calculated changes
The ten latest chart observations. Change subtracts the previous observation; intervals vary with holidays, release schedules and missing data. A difference in rates or ratios is not an investment return.
| Observed | Value | Previous date | Difference (current − previous) |
|---|---|---|---|
| 2026-10-27 | 0.69 pp | 2026-10-26 | 0.00 pp |
| 2026-10-26 | 0.69 pp | 2026-10-23 | -0.00 pp |
| 2026-10-23 | 0.69 pp | 2026-10-22 | 0.00 pp |
| 2026-10-22 | 0.68 pp | 2026-10-21 | -0.01 pp |
| 2026-10-21 | 0.69 pp | 2026-10-20 | -0.00 pp |
| 2026-10-20 | 0.69 pp | 2026-10-19 | 0.01 pp |
| 2026-10-19 | 0.68 pp | 2026-10-16 | -0.00 pp |
| 2026-10-16 | 0.69 pp | 2026-10-15 | -0.00 pp |
| 2026-10-15 | 0.69 pp | 2026-10-14 | 0.00 pp |
| 2026-10-14 | 0.69 pp | 2026-10-13 | -0.01 pp |
Source: Bank of Korea ECOS
Interpretation guide
The Korea AA- credit spread: the benchmark thermometer of the credit market
The AA- spread is the AA- 3-year corporate bond yield minus the 3-year treasury yield. AA- is the reference grade of Korea's corporate bond market, so this spread shows how much extra even high-grade issuers pay to borrow — the standard thermometer of Korean credit stress.
What it means
A widening spread means investors demand more risk compensation even from quality names. Because it is the gap against treasuries rather than the yield level itself, it isolates credit-market tension from the monetary-policy cycle.
- A gently narrowing spread marks a normal, settled credit market.
- The spread widening despite policy cuts means easing is not reaching the credit market.
- Abrupt widening over weeks — as in the 2022 Legoland crisis — signaled systemic funding stress.
Interpretation rules
The AA- spread only tells its full story next to the BBB- spread. Risk aversion hits BBB- first and hardest, with AA- reacting later; when even AA- widens, caution has spread to quality paper — a much heavier signal.
- BBB- widening while AA- holds is selective caution confined to lower grades.
- AA- and BBB- widening together reads as risk aversion across the whole credit market.
- A turn toward narrowing flags recovering bond demand and early risk-appetite repair.
How to apply it
This spread often shows funding conditions turning half a beat before equities do. It is most useful as background for sectors that live on borrowed money — real-estate project finance, construction, and brokerages.
- In widening phases, hold funding-dependent sectors at a conservative weight.
- The inflection where widening stops and reverses is one input for re-entering risk.
- Read it with CP rates and bank debenture spreads to see whether stress has reached short-term funding.