Corporates

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

Investment Grade Corporate Bond Market Summary:
Week Ending 6/2/23

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 6/2/23, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PX AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Renaissance Re Holdings LTD (USD) 5.75% 6/5/2033 Senior Notes 750 99.707 5.79 215
American Electric Power Co. Inc. (USD) 5.699% 8/15/2025 Junior Subordinated Notes 850 99.552 5.91 155
JP Morgan Chase & Co. (USD) 5.35% 6/1/2034 N/A 2500 100 N/A N/A
Enbridge Inc. (CAD) 5.76% 5/26/2053 N/A 500 99.957 5.76 250

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 5/26/23 – 6/2/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 SDSELE 5.5 7/23/2026 REGS 5.50% 07/23/26 15.79% 66.57 57.50 17
2 GLPCHI 4 7/2/2024 4.00% 07/02/24 12.99% 77.50 68.59 8
3 LNGFOR 3.85 1/13/2032 3.85% 01/13/32 12.88% 67.65 59.93 21
4 GLPSP 3.875 6/4/2025 3.88% 06/04/25 11.96% 66.82 59.68 17
5 SBBBSS 1.125 9/4/2026 1.13% 09/04/26 11.87% 72.14 64.49 22
6 WAL 3 6/15/2031 3.00% 06/15/31 11.02% 70.64 63.63 23
7 PCPDC 5.125 6/18/2026 5.13% 06/18/26 10.52% 75.72 68.52 6
8 COGARD 6.5 4/8/2024 6.50% 04/08/24 9.00% 68.04 62.42 21
9 LASUDE 5 7/28/2026 5.00% 07/28/26 8.92% 69.63 63.92 9
10 SHUION 5.5 6/29/2026 5.50% 06/29/26 8.79% 70.83 65.11 18

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 5/26/23 – 6/2/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 HEIMST 4.25 3/9/2026 4.25% 03/09/26 -9.60% 59.13 65.41 16
2 ISRELE 4 6/19/2028 4.00% 06/19/28 -5.86% 102.84 109.24 3
3 SAZGR 3.5 9/30/2024 REGS 3.50% 09/30/24 -4.02% 93.89 97.82 12
4 CWHARF 3.375 4/23/2028 144A 3.38% 04/23/28 -3.93% 66.34 69.05 2
5 GLAS 1.859 3/31/2048 1.86% 03/31/48 -3.57% 87.41 90.64 9
6 GMKNRM 2.55 9/11/2025 REGS 2.55% 09/11/25 -3.24% 72.93 75.37 3
7 AEGON 0.496 PERP 0.50% NULL -3.23% 63.07 65.18 6
8 KSS 6.875 12/15/2037 6.88% 12/15/37 -3.15% 57.96 59.85 13
9 GAZPRU 1.5 2/17/2027 144A 1.50% 02/17/27 -2.88% 61.96 63.80 4
10 KMRLGP 3.9 12/12/2024 3.90% 12/12/24 -2.81% 86.43 88.94 7

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 5/26/23 – 6/2/23

RANK INDUSTRY CHANGE YLD YLD-1W
1 Media: Diversified & Production -64 bps 4.59% 5.23%
2 Services: Business -42 bps 4.27% 4.68%
3 Utilities: Water -36 bps 4.77% 5.13%
4 Hotel, Gaming & Leisure -32 bps 7.00% 7.32%
5 Telecommunications -28 bps 4.64% 4.92%
6 Media: Advertising, Printing & Publishing -27 bps 7.37% 7.65%
7 Utilities: Oil & Gas -21 bps 5.20% 5.41%
8 Banking -20 bps 5.23% 5.43%
9 Environmental Industries -19 bps 4.64% 4.83%
10 High Tech Industries -19 bps 4.91% 5.10%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 5/19/23 – 5/26/23

RANK INDUSTRY CHANGE YLD YLD-1W
1 Consumer Goods: Durable 31 bps 5.23% 4.92%
2 Real Estate 20 bps 7.54% 7.34%
3 Transportation: Consumer 14 bps 5.76% 5.62%
4 Beverage, Food & Tobacco 9 bps 4.65% 4.56%
5 Transportation: Cargo 8 bps 5.30% 5.23%
6 Metals & Mining 7 bps 5.58% 5.51%
7 Sovereign & Public Finance 4 bps 4.95% 4.91%
8 0 4 bps 8.19% 8.15%
9 Insurance 3 bps 5.58% 5.55%
10 Consumer Goods: Non-Durable 2 bps 4.85% 4.83%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 5/26/23 – 6/2/23

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 5/26/23 – 6/2/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 5/26/23 vs. the week ending 6/2/23

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 NDASS 6 7/1/2026 6.00% 07/01/26 33 100 67 203%
2 SHNHAN 4.5 4/12/2028 REGS 4.50% 04/12/28 179 225 46 26%
3 MUFG 2.309 7/20/2032 2.31% 07/20/32 165 209 44 27%
4 SO 4.85 6/15/2028 4.85% 06/15/28 228 271 43 19%
5 CAMBRG 0.25 6/27/2068 0.25% 06/27/68 10 50 40 400%
6 MS 3.591 7/22/2028 3.59% 07/22/28 165 204 39 24%
7 PFE 4.45 5/19/2028 4.45% 05/19/28 350 387 37 11%
8 SO 5.2 6/15/2033 5.20% 06/15/33 250 285 35 14%
9 SVTLN 1.602 9/29/2056 1.60% 09/29/56 8 40 32 400%
10 ICE 2.65 9/15/2040 2.65% 09/15/40 143 174 31 22%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 5/26/23 – 6/2/23

RANK TRANCHE COUPON MATURITY DEALERS
1 AAPL 4.3 5/10/2033 4.30% 05/10/33 43
2 AAPL 4.85 5/10/2053 4.85% 05/10/53 41
3 WFC 5.389 4/24/2034 5.39% 04/24/34 40
4 AAPL 4 5/10/2028 4.00% 05/10/28 40
5 INTC 5.2 2/10/2033 5.20% 02/10/33 40
6 CAT 4.35 5/15/2026 4.35% 05/15/26 39
7 PFE 4.45 5/19/2028 4.45% 05/19/28 39
8 JPM 4.912 7/25/2033 4.91% 07/25/33 38
9 META 4.8 5/15/2030 4.80% 05/15/30 38
10 AAPL 4.15 5/10/2030 4.15% 05/10/30 38

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 5/26/23 – 6/2/23

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 5/26/23 – 6/2/23

Stay up-to-date with weekly summaries.

Stay up-to-date on the latest from SOLVE