Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 3/3/23
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Top 10 Performers
Showcases the top 10 HY Corp performers based on the largest bid price increases between 2/24/23 – 3/3/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | DLLTD 8 4/1/2025 144A | 8.00% | 04/01/25 | 43.25% | 34.81 | 24.30 | 17 |
| 2 | CENCHI 7.65 8/27/2023 | 7.65% | 08/27/23 | 29.30% | 44.56 | 34.46 | 22 |
| 3 | WNRFCO 8.75 7/15/2025 144A | 8.75% | 07/15/25 | 19.32% | 81.02 | 67.90 | 9 |
| 4 | KPERST 6.5 9/1/2026 REGS | 6.50% | 09/01/26 | 14.26% | 57.15 | 50.02 | 19 |
| 5 | ATENTO 8 2/10/2026 REGS | 8.00% | 02/10/26 | 14.22% | 34.78 | 30.45 | 23 |
| 6 | CVNA 5.5 4/15/2027 144A | 5.50% | 04/15/27 | 12.34% | 49.48 | 44.04 | 23 |
| 7 | KWGPRO 7.875 8/30/2024 | 7.88% | 08/30/24 | 12.27% | 43.64 | 38.87 | 15 |
| 8 | HLBCNH 11 3/24/2023 | 11.00% | 03/24/23 | 11.35% | 33.60 | 30.18 | 7 |
| 9 | ZAYO 6.125 3/1/2028 | 6.13% | 03/01/28 | 11.19% | 65.23 | 58.67 | 27 |
| 10 | CHINSC 6 2/4/2026 | 6.00% | 02/04/26 | 11.15% | 43.68 | 39.30 | 20 |
Bottom 10 Performers
Showcases the bottom 10 HY Corp performers based on the largest bid price decreases between 2/24/23 – 3/3/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | WAIR 8.5 11/15/2024 144A | 8.50% | 11/15/24 | -23.76% | 33.88 | 44.44 | 9 |
| 2 | LINTA 8.25 2/1/2030 | 8.25% | 02/01/30 | -22.98% | 34.51 | 44.81 | 21 |
| 3 | QVCN 5.45 8/15/2034 | 5.45% | 08/15/34 | -18.38% | 43.03 | 52.72 | 19 |
| 4 | HEFOSO 8.5 6/1/2026 144A | 8.50% | 06/01/26 | -10.67% | 61.81 | 69.19 | 13 |
| 5 | WEWORK 5 7/10/2025 144A | 5.00% | 07/10/25 | -8.76% | 42.73 | 46.83 | 19 |
| 6 | TOTALP 7.5 11/12/2025 REGS | 7.50% | 11/12/25 | -8.51% | 83.06 | 90.79 | 19 |
| 7 | CSOLNO 6 2/3/2027 REGS | 6.00% | 02/03/27 | -8.11% | 59.69 | 64.95 | 11 |
| 8 | TGNA 5 9/15/2029 | 5.00% | 09/15/29 | -7.69% | 88.05 | 95.39 | 25 |
| 9 | VEDLN 8.95 3/11/2025 REGS | 8.95% | 03/11/25 | -7.62% | 68.43 | 74.07 | 27 |
| 10 | RAKUTN 6.25 PERP REGS | 5.80% | 10/22/99 | -7.58% | 61.89 | 66.97 | 9 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 2/24/23 – 3/3/23
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 2/24/23 – 3/3/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 2/24/23 vs. the week ending 3/3/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | AVNT 5.75 5/15/2025 REGS | 5.75% | 05/15/25 | 98 | 190 | 92 | 94% |
| 2 | TDG 8 12/15/2025 144A | 8.00% | 12/15/25 | 280 | 338 | 58 | 21% |
| 3 | BAHAMA 5.75 1/16/2024 REGS | 5.75% | 01/16/24 | 86 | 140 | 54 | 63% |
| 4 | COMM 4.75 9/1/2029 144A | 4.75% | 09/01/29 | 224 | 270 | 46 | 21% |
| 5 | AMCX 5 4/1/2024 | 5.00% | 04/01/24 | 271 | 315 | 44 | 16% |
| 6 | CPS 13.5 3/31/2027 144A | 13.50% | 03/31/27 | 18 | 58 | 40 | 222% |
| 7 | TGI 8.875 6/1/2024 | 8.88% | 06/01/24 | 218 | 257 | 39 | 18% |
| 8 | WYNMAC 5.625 8/26/2028 REGS | 5.63% | 08/26/28 | 318 | 356 | 38 | 12% |
| 9 | WYNMAC 5.125 12/15/2029 REGS | 5.13% | 12/15/29 | 323 | 360 | 37 | 11% |
| 10 | INOVHS 4.068 5/15/2052 | 4.07% | 05/15/52 | 34 | 69 | 35 | 103% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 2/24/23 – 3/3/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | TDG 8 12/15/2025 144A | 8.00% | 12/15/25 | 40 |
| 2 | USB 4.839 2/1/2034 | 4.84% | 02/01/34 | 39 |
| 3 | TMUS 5.2 1/15/2033 | 5.20% | 01/15/33 | 38 |
| 4 | DISH 5 3/15/2023 | 5.00% | 03/15/23 | 38 |
| 5 | F 6.95 3/6/2026 | 6.95% | 03/06/26 | 38 |
| 6 | HBI 4.625 5/15/2024 | 4.63% | 05/15/24 | 37 |
| 7 | MPLX 5 3/1/2033 | 5.00% | 03/01/33 | 37 |
| 8 | F 7.35 3/6/2030 | 7.35% | 03/06/30 | 37 |
| 9 | WYNMAC 5.125 12/15/2029 REGS | 5.13% | 12/15/29 | 37 |
| 10 | WYNMAC 5.625 8/26/2028 REGS | 5.63% | 08/26/28 | 36 |
Bid-Offer Spread by Industry
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 2/24/23 – 3/3/23
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