Top Insights of the Week: Ending 6/11/21
Top weekly insights from Solve Advisors' Bank Loans, Municipal Bonds and Corporate Bonds market summaries.
High Yield Corporate Bond Market Summary – Week Ending 6/11/21
BTU 6.375% 2025 increased 27.8% from $41.08 to $52.49 over the past week driven by both a credit ratings upgrade from S&P and increased demand for Peabody Energy's coal as the economy increasingly reopens.
Investment Grade Corporate Bond Market Summary – Week Ending 6/11/21
BIIB 3.25% 2051 increased 5.79% from $93.83 to $99.26 over the past week following FDA accelerated approval of its Alzheimer’s drug candidacy.
Municipal Bond Market Summary – Week Ending 6/11/21
PUERTO RICO PUB BLDGS AUTH REV 5.00% 07/01/22 took the second spot on the Municipal Bond 'Winners' list last week as bond trading surged more than 25x the average.
Syndicated Bank Loan Market Summary – Week Ending 6/11/21
J. Jill Group's 5% 5/8/2024 bond price increased 6.3% from $72.37 to $77.55 following an earnings report indicating sales soared by 33% in the fiscal quarter ending May 2021 as retail sales continue to rebound as the U.S. reopens.
High Yield Corporate Bond Market Summary – Week Ending 6/4/21
Antero Resources bonds were heavily quoted last week by 36 banks/dealers as the company completed the issuance of $600 million of new bonds used to refinance existing bonds and reduce revolver outstandings.
Investment Grade Corporate Bond Market Summary – Week Ending 6/4/21
The Media, Advertising, Printing & Publishing sector was the top performing sector over the past week driven by gains in Gannett and Interpublic Group of Companies bonds.
Municipal Bond Market Summary – Week Ending 6/4/21
City of Seattle bonds were quoted heavily, representing half the securities in our top 10 Quote Volume Movers chart with increased investor interest over the past week.
Syndicated Bank Loan Market Summary – Week Ending 6/4/21
Exela Technologies was ranked as the top Bank Loan ‘Winner’ for last week with a price increase of 5.5% to $39.44 after a positive analyst report indicating the company could fix its capital structure through a combination of revenue growth, margin expansion, equity/debt issuance and asset sales.
High Yield Corporate Bond Market Summary – Week Ending 5/28/21
The Business Services Industry was the top performing HY Corp industry last week with prices increasing 1.4% led by price gains of Novafives and Team Health bonds.
