Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 11/24/23

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

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New Issues

IG Corp bond new issues for the week ending 11/24/23, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PX AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
N/A N/A N/A N/A N/A N/A

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 11/17/23 – 11/24/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 LNGFOR 4.5 1/16/2028 4.50% 01/16/28 28.87% 62.09 48.18 26
2 VNKRLE 3.975 11/9/2027 3.98% 11/09/27 15.81% 67.63 58.40 25
3 SHUION 5.5 6/29/2026 5.50% 06/29/26 13.20% 51.84 45.79 19
4 PINGRE 3.25 6/23/2025 3.25% 06/23/25 12.34% 79.00 70.32 15
5 CHJMAO 4.25 7/23/2029 4.25% 07/23/29 10.68% 67.01 60.54 23
6 GLPCHI 2.95 3/29/2026 2.95% 03/29/26 10.47% 56.30 50.96 19
7 GLPSP 3.875 6/4/2025 3.88% 06/04/25 9.99% 65.79 59.81 17
8 CKPH 3.8 PERP 3.80% NULL 7.63% 59.19 54.99 11
9 SIVB 1.8 2/2/2031 1.80% 02/02/31 7.53% 61.08 56.80 16
10 CPDEV 4.65 1/19/2026 4.65% 01/19/26 5.93% 80.86 76.33 14

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 11/17/23 – 11/24/23

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W DEALERS
1 BAERVX 2.375 PERP 2.38% NULL -7.84% 78.51 85.19 6
2 CPIPGR 2.75 1/22/2028 2.75% 01/22/28 -6.68% 67.73 72.58 19
3 SVTLN 1.5225 8/1/2058 1.52% 08/01/58 -5.38% 68.80 72.72 4
4 UU 1.847 7/7/2056 1.85% 07/07/56 -4.75% 78.13 82.03 3
5 SSELN 1.429 10/20/2056 1.43% 10/20/56 -4.48% 66.22 69.33 6
6 CAMBRG 2.35 6/27/2078 2.35% 06/27/78 -4.43% 54.81 57.35 14
7 UKRAIL 1.5646 12/6/2044 1.56% 12/06/44 -4.31% 199.50 208.48 4
8 GLCCUK 1.375 3/31/2057 1.38% 03/31/57 -4.30% 137.07 143.23 3
9 KEL 1.7085 2/1/2058 1.71% 02/01/58 -4.28% 68.92 72.00 5
10 IIAAV 2.5 10/15/2027 2.50% 10/15/27 -4.01% 71.37 74.35 12

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 11/17/23 – 11/24/23

RANK INDUSTRY CHANGE YLD YLD-1W
1 Energy: Electricity -313 bps 5.06% 8.19%
2 0 -54 bps 7.47% 8.00%
3 Media: Diversified & Production -42 bps 5.02% 5.45%
4 Banking -37 bps 5.34% 5.71%
5 Real Estate -18 bps 7.66% 7.85%
6 Services: Consumer -11 bps 6.87% 6.98%
7 High Tech Industries -7 bps 5.23% 5.30%
8 Consumer Goods: Non-Durable -5 bps 4.75% 4.80%
9 Wholesale -5 bps 5.49% 5.53%
10 Sovereign & Public Finance -4 bps 4.88% 4.92%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 11/17/23 – 11/24/23

RANK INDUSTRY CHANGE YLD YLD-1W
1 Hotel, Gaming & Leisure 346 bps 12.62% 9.16%
2 Services: Business 27 bps 5.29% 5.02%
3 Energy: Oil & Gas 26 bps 5.57% 5.31%
4 Healthcare & Pharmaceuticals 22 bps 5.63% 5.41%
5 Utilities: Water 19 bps 5.16% 4.97%
6 Construction & Building 10 bps 5.04% 4.94%
7 Automotive 9 bps 5.52% 5.43%
8 Metals & Mining 9 bps 5.77% 5.68%
9 Insurance 8 bps 5.69% 5.61%
10 Containers, Packaging, & Glass 8 bps 5.88% 5.80%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 11/17/23 – 11/24/23

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 11/17/23 – 11/24/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/17/23 vs. the week ending 11/24/23

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ROSW 5.593 11/13/2033 144A 5.59% 11/13/33 198 305 107 54%
2 JBSSBZ 2.5 1/15/2027 2.50% 01/15/27 30 126 96 320%
3 VW 5.9 9/12/2033 144A 5.90% 09/12/33 122 191 69 57%
4 BACR 6.496 9/13/2027 6.50% 09/13/27 152 206 54 36%
5 PCG 6.95 3/15/2034 6.95% 03/15/34 208 258 50 24%
6 PCAR 5.2 11/9/2026 5.20% 11/09/26 105 155 50 48%
7 WM 4.1 3/1/2045 4.10% 03/01/45 122 165 43 35%
8 HYNMTR FLT 11/3/2025 REGS 6.64% 11/03/25 67 110 43 64%
9 RGA 2 11/30/2026 144A 2.00% 11/30/26 59 95 36 61%
10 CARR 3.377 4/5/2040 3.38% 04/05/40 249 280 31 12%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 11/17/23 – 11/24/23

RANK TRANCHE COUPON MATURITY DEALERS
1 INTC 5.2 2/10/2033 5.20% 02/10/33 36
2 PFE 4.75 5/19/2033 4.75% 05/19/33 36
3 BMY 5.9 11/15/2033 5.90% 11/15/33 35
4 BMY 5.75 2/1/2031 5.75% 02/01/31 35
5 JPM 6.254 10/23/2034 6.25% 10/23/34 35
6 DIS 2.65 1/13/2031 2.65% 01/13/31 35
7 HSBC 8 PERP 8.00% 09/07/99 34
8 DUK 5.875 11/15/2033 5.88% 11/15/33 34
9 DUK 6.2 11/15/2053 6.20% 11/15/53 34
10 ENBCN 5.7 3/8/2033 5.70% 03/08/33 34

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 11/17/23 – 11/24/23

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 11/17/23 – 11/24/23

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