{
  "retrieved": "2026-08-26T15:38:23.984Z",
  "source": "Federal Reserve Bank of St. Louis (FRED)",
  "sourceUrl": "https://fred.stlouisfed.org/",
  "disclaimer": "Data is for informational and educational use only, not investment advice. Values are the last observation available at retrieval time; series update on different cadences (daily, monthly).",
  "series": [
    {
      "id": "SOFR",
      "title": "Secured Overnight Financing Rate",
      "short": "SOFR",
      "units": "Percent",
      "frequency": "Daily",
      "about": "The reference rate that replaced LIBOR. Senior debt in leveraged M&A financings is almost always priced off SOFR plus a spread (SOFR + 500-700 bps for LBOs; SOFR + 250-400 for strategic acquirer term loans).",
      "source": "Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (FRED)",
      "sourceUrl": "https://fred.stlouisfed.org/series/SOFR",
      "lastObservation": "2026-08-25",
      "latest": 3.66,
      "previous30d": 3.64,
      "previous30dDate": "2026-07-27",
      "changeFrom30dBps": 2,
      "previous1y": 4.38,
      "previous1yDate": "2025-08-26",
      "changeFrom1yBps": -72
    },
    {
      "id": "DFF",
      "title": "Federal Funds Effective Rate",
      "short": "Fed Funds",
      "units": "Percent",
      "frequency": "Daily",
      "about": "The overnight rate at which depository institutions lend reserves to each other. Its target range is the Fed's primary monetary-policy lever; movements ripple into every M&A financing decision.",
      "source": "Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (FRED)",
      "sourceUrl": "https://fred.stlouisfed.org/series/DFF",
      "lastObservation": "2026-08-24",
      "latest": 3.63,
      "previous30d": 3.63,
      "previous30dDate": "2026-07-27",
      "changeFrom30dBps": 0,
      "previous1y": 4.33,
      "previous1yDate": "2025-08-26",
      "changeFrom1yBps": -70
    },
    {
      "id": "MPRIME",
      "title": "Bank Prime Loan Rate",
      "short": "Prime",
      "units": "Percent",
      "frequency": "Monthly",
      "about": "The rate US banks charge their most creditworthy commercial customers. Owner-operator acquisitions financed by SBA 7(a) loans, seller notes, and small commercial term loans are typically quoted as Prime plus a spread.",
      "source": "Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (FRED)",
      "sourceUrl": "https://fred.stlouisfed.org/series/MPRIME",
      "lastObservation": "2026-07-01",
      "latest": 6.75,
      "previous30d": 6.75,
      "previous30dDate": "2026-07-01",
      "changeFrom30dBps": 0,
      "previous1y": 7.5,
      "previous1yDate": "2025-08-01",
      "changeFrom1yBps": -75
    },
    {
      "id": "DGS10",
      "title": "10-Year Treasury Constant Maturity Rate",
      "short": "10Y Treasury",
      "units": "Percent",
      "frequency": "Daily",
      "about": "The risk-free rate used in most cost-of-equity models. When the 10Y moves 100 bps, DCF valuations for stable cash-flow businesses move meaningfully — often 10-15% of enterprise value.",
      "source": "Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (FRED)",
      "sourceUrl": "https://fred.stlouisfed.org/series/DGS10",
      "lastObservation": "2026-08-24",
      "latest": 4.7,
      "previous30d": 4.65,
      "previous30dDate": "2026-07-27",
      "changeFrom30dBps": 5,
      "previous1y": 4.26,
      "previous1yDate": "2025-08-26",
      "changeFrom1yBps": 44
    },
    {
      "id": "BAMLH0A0HYM2",
      "title": "ICE BofA US High Yield Index Option-Adjusted Spread",
      "short": "HY OAS",
      "units": "Percent",
      "frequency": "Daily",
      "about": "The spread over Treasuries paid by BB-B rated US corporates. When HY OAS is tight (below 400 bps), sponsor debt is cheap and multiples expand. When it widens (above 600 bps), leveraged M&A pauses.",
      "source": "Federal Reserve Bank of St. Louis, Federal Reserve Economic Data (FRED)",
      "sourceUrl": "https://fred.stlouisfed.org/series/BAMLH0A0HYM2",
      "lastObservation": "2026-08-25",
      "latest": 2.7,
      "previous30d": 2.81,
      "previous30dDate": "2026-07-27",
      "changeFrom30dBps": -11,
      "previous1y": 2.78,
      "previous1yDate": "2025-08-26",
      "changeFrom1yBps": -8
    }
  ]
}