Real Corporate Bond Yield — Daily CSV Download (BAA Inflation-Adjusted Yield)

The real corporate bond yield — Moody’s BAA yield minus CPI inflation — measures the true cost of long-term borrowing for US corporations at the lower end of investment grade. How the inflation deflator behaves across regimes is detailed in the complete guide to inflation. When positive and rising, capital allocation becomes more disciplined; when negative, corporations are effectively being paid to borrow, incentivizing leverage and buybacks.

Dataset: Real Corporate Bond Yield — Moody’s BAA (1953–2026) · Updated —

Source: FRED series BAA · Moody’s (BAA) & BLS (CPIAUCSL) via FRED

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV and Excel files contain the following columns.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full dataset is available in CSV and Excel formats.

FRED Direct CSV Access

The underlying data is available from FRED under series code BAA:

https://fred.stlouisfed.org/graph/fredgraph.csv?id=BAA

Direct CSV Access — Eco3min Structured Dataset

https://eco3min.fr/dataset/real-corporate-bond-yield.csv

This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/real-corporate-bond-yield.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.head())
print(df["baa_yield"].describe())

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/real-corporate-bond-yield.csv"
df <- read_csv(url)

head(df)
summary(df$baa_yield)

Both examples load the dataset directly from the URL — no download or API key required.

Methodology

Moody’s BAA seasoned corporate bond yield (FRED: BAA) minus CPI YoY inflation (FRED: CPIAUCSL). BAA is the lowest investment-grade rating — the boundary before high yield.

This dataset is updated monthly via automated pull from the FRED API.

Historical Regimes

Historical regime analysis for this dataset will be added in a future update. The key stats block above provides immediate context for the current reading relative to the full historical distribution.

Related Macroeconomic Datasets

The real corporate bond yield combines two forces: the real risk-free rate and the credit spread. It captures the full cost of capital for American businesses — and when it turns deeply negative, capital misallocation follows.

Related Research

Real corporate yields at the BAA boundary are especially informative — they sit just above high yield, where “fallen angel” dynamics can trigger forced selling cascades.

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.

Explore the Eco3min Dataset Hub

Sources

• Moody’s (BAA) & BLS (CPIAUCSL) via FRED

Dataset Reference

Eco3min Research. (2026). Real Corporate Bond Yield — Moody’s BAA (1953–2026).<br> https://eco3min.fr/en/real-corporate-bond-yield-dataset/