Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 12/16/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
IG Corp bond new issues for the week ending 12/16/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| JPMorgan Chase & Co. (USD) 5.546% 12/15/2025 | Senior Notes | 3000 | 100 | 5.55 | 115 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 12/9/22 – 12/16/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | 10.16% | 71.15 | 64.59 | 6 |
| 2 | VANTOW 0.75 3/31/2030 | 0.75% | 03/31/30 | 7.83% | 91.62 | 84.97 | 15 |
| 3 | SINOCE 2.7 1/13/2025 | 2.70% | 01/13/25 | 7.55% | 50.48 | 46.94 | 18 |
| 4 | BRKHEC 5.75 9/30/2039 | 5.75% | 09/30/39 | 6.42% | 96.98 | 91.13 | 6 |
| 5 | AITOCU 5.125 8/11/2061 REGS | 5.13% | 08/11/61 | 5.90% | 82.16 | 77.58 | 12 |
| 6 | HOG 4.625 7/28/2045 | 4.63% | 07/28/45 | 5.68% | 81.60 | 77.22 | 11 |
| 7 | COGARD 6.5 4/8/2024 | 6.50% | 04/08/24 | 5.36% | 69.66 | 66.12 | 23 |
| 8 | PINGRE 3.45 7/29/2026 | 3.45% | 07/29/26 | 5.26% | 69.99 | 66.49 | 4 |
| 9 | CELARA 5.15 1/29/2050 REGS | 5.15% | 01/29/50 | 4.90% | 87.05 | 82.99 | 14 |
| 10 | GLPCHI 4 7/2/2024 | 4.00% | 07/02/24 | 4.60% | 76.95 | 73.57 | 6 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 12/9/22 – 12/16/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | CZGB 0 10/22/2024 | 5.61% | 10/22/24 | -18.57% | 82.15 | 100.89 | 4 |
| 2 | VIVION 3 8/8/2024 | 3.00% | 08/08/24 | -13.55% | 76.18 | 88.12 | 19 |
| 3 | ARNDTN 3.625 4/10/2031 | 3.63% | 04/10/31 | -8.26% | 65.96 | 71.90 | 15 |
| 4 | SLOREP 1.175 2/13/2062 | 1.18% | 02/13/62 | -7.97% | 55.00 | 59.76 | 3 |
| 5 | ANNGR 1.625 9/1/2051 | 1.63% | 09/01/51 | -7.87% | 52.33 | 56.80 | 15 |
| 6 | TWX 5.35 12/15/2043 | 5.35% | 12/15/43 | -7.79% | 82.81 | 89.80 | 2 |
| 7 | SLOVGB 1 10/13/2051 | 1.00% | 10/13/51 | -7.73% | 55.54 | 60.20 | 3 |
| 8 | RAGB 1.5 11/2/2086 | 1.50% | 11/02/86 | -7.36% | 68.75 | 74.21 | 2 |
| 9 | DBHNGR 0.625 12/8/2050 | 0.63% | 12/08/50 | -7.01% | 55.82 | 60.03 | 12 |
| 10 | OFS 4.75 2/10/2026 | 4.75% | 02/10/26 | -6.61% | 80.37 | 86.06 | 2 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 12/9/22 – 12/16/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Media: Diversified & Production | -51 bps | 4.60% | 5.11% |
| 2 | High Tech Industries | -15 bps | 4.84% | 4.99% |
| 3 | Transportation: Cargo | -6 bps | 5.06% | 5.13% |
| 4 | Energy: Oil & Gas | -6 bps | 5.37% | 5.43% |
| 5 | Forest Products & Paper | -3 bps | 4.43% | 4.46% |
| 6 | Wholesale | -2 bps | 4.95% | 4.97% |
| 7 | Telecommunications | 0 bps | 4.71% | 4.70% |
| 8 | Retail | 1 bps | 5.15% | 5.15% |
| 9 | Media: Broadcasting & Subscription | 3 bps | 4.98% | 4.96% |
| 10 | Environmental Industries | 3 bps | 4.62% | 4.59% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 12/9/22 – 12/16/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Utilities: Water | 72 bps | 4.88% | 4.16% |
| 2 | Energy: Electricity | 63 bps | 4.94% | 4.31% |
| 3 | Real Estate | 62 bps | 7.12% | 6.50% |
| 4 | Services: Business | 61 bps | 4.91% | 4.30% |
| 5 | Transportation: Consumer | 54 bps | 6.64% | 6.10% |
| 6 | Sovereign & Public Finance | 53 bps | 4.65% | 4.12% |
| 7 | Healthcare & Pharmaceuticals | 49 bps | 5.32% | 4.83% |
| 8 | Finance | 45 bps | 5.36% | 4.91% |
| 9 | Capital Equipment | 41 bps | 4.61% | 4.19% |
| 10 | Banking | 38 bps | 4.98% | 4.60% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/09/22 – 12/16/22
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 12/9/22 – 12/16/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/9/22 vs. the week ending 12/16/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | BCRED 2.625 12/15/2026 | 2.63% | 12/15/26 | 107 | 173 | 66 | 62% |
| 2 | TRPCN FLT 5/15/2067 | 6.91% | 05/15/67 | 72 | 130 | 58 | 81% |
| 3 | TENCNT FLT 1/19/2023 REGS | 5.30% | 01/19/23 | 30 | 83 | 53 | 177% |
| 4 | BAC 5.2 12/29/2049 | 5.20% | 09/24/09 | 107 | 159 | 52 | 49% |
| 5 | TENCNT FLT 4/11/2024 REGS | 5.61% | 04/11/24 | 48 | 98 | 50 | 104% |
| 6 | BACR 2.667 3/10/2032 | 2.67% | 03/10/32 | 132 | 180 | 48 | 36% |
| 7 | CERVIM 0 2/15/2029 REGS | 5.25% | 02/15/29 | 40 | 86 | 46 | 115% |
| 8 | LNCFIN FLT 4/1/2024 REGS | 5.74% | 04/01/24 | 60 | 106 | 46 | 77% |
| 9 | FABUH FLT 7/8/2024 | 5.60% | 07/08/24 | 40 | 81 | 41 | 103% |
| 10 | CBAAU 0 1/14/2027 | 2.74% | 01/14/27 | 30 | 70 | 40 | 133% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/9/22 – 12/16/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 35 |
| 2 | AMZN 3.6 4/13/2032 | 3.60% | 04/13/32 | 34 |
| 3 | AMZN 4.7 12/1/2032 | 4.70% | 12/01/32 | 34 |
| 4 | AAPL 3.95 8/8/2052 | 3.95% | 08/08/52 | 34 |
| 5 | ORCL 6.25 11/9/2032 | 6.25% | 11/09/32 | 33 |
| 6 | AAPL 3.35 8/8/2032 | 3.35% | 08/08/32 | 33 |
| 7 | ENBCN 3.4 8/1/2051 | 3.40% | 08/01/51 | 33 |
| 8 | BPLN 2.721 1/12/2032 | 2.72% | 01/12/32 | 32 |
| 9 | AAL 5.5 4/20/2026 144A | 5.50% | 04/20/26 | 32 |
| 10 | KMI 4.8 2/1/2033 | 4.80% | 02/01/33 | 32 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/09/22 – 12/16/22
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/9/22 – 12/16/22
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