Corporates

GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX.  LEARN MORE

Investment Grade Corporate Bond Market Summary:
Week Ending 4/14/23

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

Quick Links

New Issues

IG Corp bond new issues for the week ending 4/14/23, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PX AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
American Honda Finance Corp. (USD) 4.6% 4/17/2025 Senior Notes 800 99.966 4.62 65
Walmart Inc. (USD) 4.5% 4/15/2053 Senior Notes 1500 99.723 4.52 N/A
Mitsubishi UFJ Financial Group Inc. (USD) 5.242% 4/19/2029 N/A 700 100 5.24 170
Take-Two Interactive Software Inc. (USD) 5% 3/28/2026 Senior Notes 500 99.945 5.02 125

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 4/7/23 – 4/14/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 EURDEV 1 3/17/2026 1.00% 03/17/26 14.43% 78.27 68.40 5
2 SCHW 4 PERP 4.00% NULL 7.42% 79.20 73.73 14
3 OPI 2.65 6/15/2026 2.65% 06/15/26 7.32% 70.12 65.34 26
4 NETGAS 3.5 7/28/2026 3.50% 07/28/26 6.46% 66.59 62.55 5
5 AX 4.875 10/1/2030 4.88% 10/01/30 6.30% 93.09 87.57 2
6 KRC 2.5 11/15/2032 2.50% 11/15/32 6.19% 64.86 61.08 19
7 AIG 6.25 3/15/2037 6.25% 03/15/37 5.88% 90.47 85.45 4
8 ADJGR 1.5 7/26/2024 1.50% 07/26/24 5.53% 69.94 66.27 19
9 TSE 5.125 4/1/2029 REGS 5.13% 04/01/29 5.50% 65.10 61.70 19
10 COGARD 6.15 9/17/2025 6.15% 09/17/25 5.38% 65.82 62.46 24

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 4/7/23 – 4/14/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 CFG 4.3 2/11/2031 4.30% 02/11/31 -11.68% 75.37 85.35 3
2 LNC FLT 5/17/2066 7.53% 05/17/66 -8.98% 54.14 59.48 7
3 CAT 6.95 5/1/2042 6.95% 05/01/42 -7.34% 110.62 119.38 2
4 RUSSIA 7.5 3/31/2030 7.50% 03/31/30 -6.98% 59.56 64.03 4
5 SSWTR 1.843 6/30/2051 1.84% 06/30/51 -6.90% 86.24 92.63 3
6 BAZFIN 0.755 6/27/2051 0.76% 06/27/51 -6.46% 67.23 71.88 2
7 CIXCN 4.1 6/15/2051 4.10% 06/15/51 -6.39% 56.76 60.64 11
8 FBC 4.125 11/1/2030 4.13% 11/01/30 -5.89% 83.61 88.84 3
9 TFC 0 PERP 0.00% NULL -5.88% 71.96 76.46 6
10 CMCSA 6.4 4/30/2040 6.40% 04/30/40 -5.68% 107.07 113.52 7

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 4/7/23 – 4/14/23

RANK INDUSTRY CHANGE YLD YLD-1W
1 Transportation: Consumer -93 bps 5.50% 6.43%
2 Containers, Packaging, & Glass -56 bps 5.79% 6.35%
3 Media: Diversified & Production -56 bps 4.44% 5.00%
4 Hotel, Gaming & Leisure -51 bps 5.08% 5.58%
5 Telecommunications -48 bps 4.49% 4.98%
6 Chemicals, Plastics & Rubber -44 bps 5.22% 5.66%
7 Consumer Goods: Durable -42 bps 4.45% 4.86%
8 Aerospace & Defense -33 bps 5.37% 5.71%
9 Capital Equipment -32 bps 4.37% 4.69%
10 Consumer Goods: Non-Durable -29 bps 4.52% 4.80%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 4/7/23 – 4/14/23

RANK INDUSTRY CHANGE YLD YLD-1W
1 Energy: Electricity 160 bps 6.68% 5.08%
2 Real Estate 116 bps 6.72% 5.56%
3 Services: Consumer 116 bps 6.40% 5.24%
4 Media: Broadcasting & Subscription 62 bps 5.54% 4.92%
5 Metals & Mining 51 bps 5.44% 4.93%
6 Retail 44 bps 5.15% 4.71%
7 Energy: Oil & Gas 28 bps 5.19% 4.91%
8 Services: Business 25 bps 4.44% 4.19%
9 Sovereign & Public Finance 24 bps 4.92% 4.68%
10 Utilities: Water 19 bps 4.78% 4.58%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 3/7/23 – 4/14/23

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 4/7/23 – 4/14/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/7/23 vs. the week ending 4/14/23

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 PACCAR FINL CORP MEDIUM TERM 4.45% 03/30/26 125 183 58 46%
2 BOCHKL 5.9 PERP 144A 5.90% NULL 70 114 44 63%
3 DGX 4.7 3/30/2045 4.70% 03/30/45 75 114 39 52%
4 FHLB 4.125 9/10/2027 4.13% 09/10/27 1 40 39 3900%
5 PRU 5.2 3/15/2044 5.20% 03/15/44 141 174 33 23%
6 TFC 0 PERP 6.60% 12/06/99 16 48 32 200%
7 HYNMTR 5.5 3/30/2026 144A 5.50% 03/30/26 87 119 32 37%
8 PRU 4.5 9/15/2047 4.50% 09/15/47 130 161 31 24%
9 ADM 4.5 8/15/2033 4.50% 08/15/33 208 239 31 15%
10 KOROIL 4.875 4/3/2028 REGS 4.88% 04/03/28 78 108 30 38%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 4/7/23 – 4/14/23

RANK TRANCHE COUPON MATURITY DEALERS
1 PNC 5.068 1/24/2034 5.07% 01/24/34 42
2 USB 4.839 2/1/2034 4.84% 02/01/34 41
3 MS 6.342 10/18/2033 6.34% 10/18/33 39
4 BAC 5.015 7/22/2033 5.02% 07/22/33 39
5 TFC 5.122 1/26/2034 5.12% 01/26/34 38
6 WFC 4.897 7/25/2033 4.90% 07/25/33 38
7 INTC 5.2 2/10/2033 5.20% 02/10/33 38
8 DIS 2.65 1/13/2031 2.65% 01/13/31 37
9 META 3.85 8/15/2032 3.85% 08/15/32 37
10 C 6.27 11/17/2033 6.27% 11/17/33 36

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 4/7/23 – 4/14/23

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 4/7/23 – 4/14/23

Stay up-to-date with weekly summaries.

Stay up-to-date on the latest from SOLVE