- Data through
- 2026-09-30
- Trades in window
- 9,741
- Trades with a disseminated spread
- 9,412
- Build date
- 2026-10-20
CDX North America High Yield trades at the five-year point: the contracts that trade are the two current series vintages, expiring about 57 and 63 months out. No other tenor trades in size on this index, so this page presents the five-year complex with its vintage split rather than a term-structure curve. Spreads are normalised for the notation the dissemination uses; on indices that trade on price, price-carrying records are converted with the relation stated on the method page.
Five-year complex, latest day
Latest day with priced five-year trades: 2026-09-30. The ten-year line prints only where the index trades one in size.
| Contracts | Median spread, latest day (bp) | Trades on latest day |
|---|---|---|
| All five-year contracts | 335.9 | 588 |
| Of which expiring 2031-06-20 | 321.9 | 88 |
| Of which expiring 2031-12-20 | 336.4 | 494 |
Five-year point, daily
Median traded spread with the interquartile band. The band is the dispersion of traded spreads around the day's centre; a widening band at an unchanged median is a fall in liquidity in the Bank of England dispersion sense.
Current series against prior series, five-year point
| Series | Latest median spread (bp) | Trades in window |
|---|---|---|
| Contracts expiring 2031-06-20 | 321.9 | 6,256 |
| Contracts expiring 2031-12-20 | 336.4 | 1,256 |
Spread difference, current less prior series, on their latest common readings: -14.5 bp.
Series expiries observed in the tape
| Contract expiry | First dissemination in window | Trades in window |
|---|---|---|
| 2031-06-20 | 2026-09-01 | 7,412 |
| 2026-09-01 | 2026-09-01 | 1 |
| 2030-12-20 | 2026-09-01 | 184 |
| 2028-06-20 | 2026-09-02 | 10 |
| 2028-12-20 | 2026-09-02 | 26 |
| 2029-12-20 | 2026-09-02 | 18 |
| 2029-06-20 | 2026-09-02 | 9 |
| 2026-12-20 | 2026-09-08 | 8 |
| 2027-12-20 | 2026-09-08 | 5 |
| 2030-06-20 | 2026-09-08 | 24 |
| 2027-06-20 | 2026-09-11 | 4 |
| 2026-09-16 | 2026-09-16 | 2 |
The window in this build starts in 2026-09, so first dissemination dates are the first dates inside the window, not the dates the series began trading.
Notional amounts are as publicly disseminated by the swap data repository. A trade larger than the regulatory cap for its asset class is disseminated at the cap value and is flagged in the source data. All notional totals are therefore lower bounds on true traded notional. The share of trades and of disseminated notional that is capped is printed beside each exhibit. Cap thresholds were revised effective 7 October 2024; comparisons across that date partly reflect the change in disclosure, not only in activity.