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Along with many other people, I have been using Moody's seasoned BAA and AAA corporate bond yield series for my research for some time. I use them primarily to compute and analyze the quality spread. Unfortunately, it appears that the Fed will no longer be computing and publishing these series. I've been looking around for a replacement.

The obvious choice, it seemed, was the BofA Merrill Lynch Corporate BBB yield and AAA yield series. However, plotting the spread between these two against the spread of the old Moody's series, they don't seem to be that close. Certainly not a continuation nor drop-in replacement.

What's the new consensus data series to be used to look at the quality spread? Do we just use the BofA Merrill Lynch series or is there another series I'm overlooking?

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