BIS Review 8/2010  5  Chart 4: Corporate bond spreads in the euro area (basis points)  Financial 3000  Non-financial  Financial AAA  Financial AA  Financial A  Financial BBB  600  2500  500  2000  400  1500  300  1000  200  500  100  0  Non-Financial AAA  Non-Financial AA  Non-Financial A  Non-Financial BBB  0  Jul.08  Jan.09  Jul.09  Jan.10  Jul.08  Jan.09  Jul.09  Jan.10  Source: Datastream.
Note: The benchmark bond index used is EMU triple A government bond index calculated by BofA Merrill Lynch. Latest observation: 19-Jan-10.