Corporates
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Investment Grade Corporate Bond Market Summary:
Week Ending 6/9/23
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 6/9/23, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| PNC Financial Services Group Inc. (USD) 5.582% 6/12/2029 | Floating Rate Notes | 2500 | 100 | 5.58 | 167 |
| NatWest Group PLC (USD) 5.808% 9/13/2029 | Senior Notes | 1250 | 100 | 5.81 | 195 |
| McKesson Corp. (USD) 5.1% 7/15/2033 | Senior Notes | 1000 | 99.356 | 5.18 | 140 |
| Ally Financial Inc. (USD) 6.992% 6/13/2029 | Senior Notes | 850 | 100 | 6.99 | 312.5 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 6/2/23 – 6/9/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | EBRD 0 3/25/2025 | 0.00% | 03/25/25 | 15.18% | 57.47 | 49.89 | 2 |
| 2 | AIIB 40 4/25/2025 | 40.00% | 04/25/25 | 13.98% | 96.32 | 84.51 | 2 |
| 3 | RURAIL 2.2 5/23/2027 | 2.20% | 05/23/27 | 12.23% | 61.72 | 55.00 | 2 |
| 4 | ROTH FLT PERP | 5.90% | NULL | 11.99% | 77.62 | 69.31 | 12 |
| 5 | DNBNO FLT PERP | 5.80% | NULL | 10.23% | 81.81 | 74.22 | 13 |
| 6 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | 9.56% | 77.28 | 70.53 | 21 |
| 7 | EIB 10.5 4/29/2024 | 10.50% | 04/29/24 | 9.47% | 73.80 | 67.42 | 2 |
| 8 | ISRELE 4.1 1/14/2032 | 4.10% | 01/14/32 | 8.31% | 112.89 | 104.22 | 3 |
| 9 | SOCGEN 4.15 7/13/2035 | 4.15% | 07/13/35 | 8.23% | 100.83 | 93.17 | 2 |
| 10 | GLPCHI 2.95 3/29/2026 | 2.95% | 03/29/26 | 7.80% | 61.20 | 56.78 | 17 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 6/2/23 – 6/9/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
| 1 | SBBBSS 4.5 3/10/2025 | 4.50% | 03/10/25 | -11.68% | 73.77 | 83.53 | 2 |
| 2 | LISCRP 4.649 3/1/2037 | 4.65% | 03/01/37 | -10.67% | 85.58 | 95.80 | 2 |
| 3 | BACR 6.1 3/24/2031 | 6.10% | 03/24/31 | -8.41% | 92.08 | 100.54 | 2 |
| 4 | KUDSW 1.5 9/27/2024 | 1.50% | 09/27/24 | -8.27% | 82.62 | 90.07 | 4 |
| 5 | CVECN 5.2 9/15/2043 | 5.20% | 09/15/43 | -7.45% | 75.55 | 81.63 | 6 |
| 6 | AAP 3.5 3/15/2032 | 3.50% | 03/15/32 | -6.71% | 78.32 | 83.96 | 17 |
| 7 | NESNVX 4.85 3/14/2033 REGS | 4.85% | 03/14/33 | -6.39% | 95.94 | 102.49 | 2 |
| 8 | AX 4.875 10/1/2030 | 4.88% | 10/01/30 | -5.96% | 79.19 | 84.21 | 2 |
| 9 | DDCFDN 2.345 7/1/2050 | 2.35% | 07/01/50 | -5.46% | 57.78 | 61.11 | 2 |
| 10 | TSE 5.125 4/1/2029 144A | 5.13% | 04/01/29 | -4.71% | 51.47 | 54.01 | 4 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 6/2/23 – 6/9/23
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Media: Broadcasting & Subscription | -29 bps | 5.84% | 6.13% |
| 2 | Media: Advertising, Printing & Publishing | -15 bps | 7.38% | 7.53% |
| 3 | Transportation: Consumer | -13 bps | 5.45% | 5.58% |
| 4 | Hotel, Gaming & Leisure | -10 bps | 6.90% | 7.00% |
| 5 | Beverage, Food & Tobacco | -5 bps | 4.58% | 4.63% |
| 6 | Construction & Building | 0 bps | 4.57% | 4.57% |
| 7 | Utilities: Water | 1 bps | 4.96% | 4.95% |
| 8 | Automotive | 4 bps | 5.22% | 5.18% |
| 9 | Aerospace & Defense | 4 bps | 5.53% | 5.49% |
| 10 | Services: Consumer | 4 bps | 6.88% | 6.84% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 6/2/23 – 6/9/23
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | 0 | 70 bps | 8.91% | 8.21% |
| 2 | Consumer Goods: Durable | 68 bps | 5.30% | 4.62% |
| 3 | Services: Business | 65 bps | 4.97% | 4.31% |
| 4 | Energy: Electricity | 52 bps | 7.08% | 6.57% |
| 5 | Containers, Packaging, & Glass | 38 bps | 6.02% | 5.63% |
| 6 | Wholesale | 33 bps | 5.11% | 4.78% |
| 7 | Chemicals, Plastics & Rubber | 28 bps | 5.81% | 5.53% |
| 8 | Forest Products & Paper | 27 bps | 4.84% | 4.57% |
| 9 | Finance | 27 bps | 5.49% | 5.22% |
| 10 | Capital Equipment | 24 bps | 4.73% | 4.50% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/2/23 – 6/9/23
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 6/2/23 – 6/9/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/2/23 vs. the week ending 6/9/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | AEP 5.4 6/1/2033 | 5.40% | 06/01/33 | 197 | 275 | 78 | 40% |
| 2 | BAYNGR 4 8/26/2026 | 4.00% | 08/26/26 | 87 | 157 | 70 | 80% |
| 3 | BAYNGR 4.625 5/26/2033 | 4.63% | 05/26/33 | 88 | 153 | 65 | 74% |
| 4 | BAYNGR 4.25 8/26/2029 | 4.25% | 08/26/29 | 91 | 152 | 61 | 67% |
| 5 | DG 3.5 4/3/2030 | 3.50% | 04/03/30 | 158 | 214 | 56 | 35% |
| 6 | PGR 4.95 6/15/2033 | 4.95% | 06/15/33 | 165 | 218 | 53 | 32% |
| 7 | GD 3.625 4/1/2030 | 3.63% | 04/01/30 | 215 | 267 | 52 | 24% |
| 8 | JPM 4.023 12/5/2024 | 4.02% | 12/05/24 | 76 | 126 | 50 | 66% |
| 9 | DUKUNI 2.682 10/1/2044 | 2.68% | 10/01/44 | 72 | 122 | 50 | 69% |
| 10 | HPE 5.9 10/1/2024 | 5.90% | 10/01/24 | 134 | 182 | 48 | 36% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/2/23 – 6/9/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | AAPL 4.85 5/10/2053 | 4.85% | 05/10/53 | 42 |
| 2 | PFE 4.45 5/19/2028 | 4.45% | 05/19/28 | 41 |
| 3 | AAPL 4.3 5/10/2033 | 4.30% | 05/10/33 | 41 |
| 4 | AAPL 4 5/10/2028 | 4.00% | 05/10/28 | 40 |
| 5 | META 4.6 5/15/2028 | 4.60% | 05/15/28 | 39 |
| 6 | CAT 4.35 5/15/2026 | 4.35% | 05/15/26 | 39 |
| 7 | INTC 5.2 2/10/2033 | 5.20% | 02/10/33 | 39 |
| 8 | PFE 4.75 5/19/2033 | 4.75% | 05/19/33 | 39 |
| 9 | META 4.95 5/15/2033 | 4.95% | 05/15/33 | 38 |
| 10 | C 6.174 5/25/2034 | 6.17% | 05/25/34 | 38 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/2/23 – 6/9/23
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 6/2/23 – 6/9/23
Stay up-to-date with weekly summaries.
Stay up-to-date on the latest from SOLVE
