Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 6/14/24
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 6/14/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| Take-Two Interactive Software Inc. (USD) 5.6% 6/12/2034 | Senior Notes | 300 | 99.796 | 5.63 | 115 |
| ArcelorMittal SA (USD) 6.35% 6/17/2054 | Senior Unsecured Bond | 500 | 99.324 | 6.4 | 180 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 6/7/24 – 6/14/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | FNGBB FLT 7/25/2024 | 10.77% | 07/25/24 | 12.48% | 98.89 | 87.91 | 2 |
| 2 | RSALN 7.375 PERP | 7.38% | NULL | 12.08% | 122.07 | 108.91 | 3 |
| 3 | DXC 0.95 9/15/2031 REGS | 0.95% | 09/15/31 | 6.82% | 80.80 | 75.63 | 7 |
| 4 | PETRPE 5.625 6/19/2047 REGS | 5.63% | 06/19/47 | 4.38% | 62.10 | 59.50 | 24 |
| 5 | NEUNIV 2.894 10/1/2050 | 2.89% | 10/01/50 | 4.27% | 70.00 | 67.14 | 2 |
| 6 | GRWASH 4.363 9/15/2043 | 4.36% | 09/15/43 | 4.12% | 89.61 | 86.06 | 5 |
| 7 | ANNGR 1.625 9/1/2051 | 1.63% | 09/01/51 | 4.11% | 57.59 | 55.32 | 19 |
| 8 | NWMEDI 2.633 7/15/2051 | 2.63% | 07/15/51 | 4.03% | 66.12 | 63.56 | 5 |
| 9 | D 5.5 12/15/2039 | 5.50% | 12/15/39 | 3.79% | 99.94 | 96.29 | 5 |
| 10 | TEMASE 1.25 11/20/2049 | 1.25% | 11/20/49 | 3.77% | 63.54 | 61.23 | 13 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 6/7/24 – 6/14/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | SIVB 4.345 4/29/2028 | 7.04% | 04/29/28 | -8.72% | 59.83 | 65.55 | 14 |
| 2 | PARA 4.6 1/15/2045 | 4.60% | 01/15/45 | -5.13% | 68.17 | 71.86 | 19 |
| 3 | FRLBP 3 PERP | 3.00% | NULL | -4.47% | 76.11 | 79.67 | 21 |
| 4 | FRESLN 4.25 10/2/2050 REGS | 4.25% | 10/02/50 | -3.40% | 72.80 | 75.36 | 11 |
| 5 | IP 4.35 8/15/2048 | 4.35% | 08/15/48 | -3.16% | 79.57 | 82.17 | 21 |
| 6 | TIANFS 6.5 3/5/2026 | 6.50% | 03/05/26 | -2.77% | 97.08 | 99.85 | 13 |
| 7 | AXASA 6.375 PERP | 6.38% | NULL | -2.76% | 100.23 | 103.07 | 24 |
| 8 | TIEMOD 5.75 12/1/2040 REGS | 5.75% | 12/01/40 | -2.73% | 88.79 | 91.27 | 13 |
| 9 | SOGRPR 3.5 6/25/2049 | 3.50% | 06/25/49 | -2.71% | 95.38 | 98.03 | 6 |
| 10 | ACAFP 7.25 PERP | 7.25% | 12/31/99 | -2.69% | 101.73 | 104.54 | 27 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 6/7/24 – 6/14/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Real Estate | -30 bps | 7.32% | 7.61% |
| 2 | Media: Diversified & Production | -29 bps | 4.52% | 4.81% |
| 3 | Media: Advertising, Printing & Publishing | -27 bps | 8.31% | 8.58% |
| 4 | Energy: Oil & Gas | -27 bps | 5.14% | 5.41% |
| 5 | Construction & Building | -25 bps | 4.47% | 4.73% |
| 6 | Aerospace & Defense | -25 bps | 5.28% | 5.53% |
| 7 | Consumer Goods: Non-Durable | -25 bps | 4.74% | 4.99% |
| 8 | Forest Products & Paper | -25 bps | 4.73% | 4.98% |
| 9 | Capital Equipment | -21 bps | 4.34% | 4.55% |
| 10 | Environmental Industries | -21 bps | 4.84% | 5.05% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 6/7/24 – 6/14/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Services: Consumer | 32 bps | 6.01% | 5.69% |
| 2 | 0 | 21 bps | 8.78% | 8.57% |
| 3 | Transportation: Consumer | 9 bps | 5.35% | 5.26% |
| 4 | Utilities: Water | -4 bps | 4.85% | 4.89% |
| 5 | Wholesale | -6 bps | 5.16% | 5.22% |
| 6 | Containers, Packaging, & Glass | -6 bps | 5.93% | 5.99% |
| 7 | Metals & Mining | -10 bps | 5.16% | 5.26% |
| 8 | Sovereign & Public Finance | -10 bps | 4.56% | 4.66% |
| 9 | Media: Broadcasting & Subscription | -11 bps | 5.18% | 5.29% |
| 10 | Utilities: Oil & Gas | -11 bps | 4.91% | 5.02% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/7/24 – 6/14/24
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 6/7/24 – 6/14/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/7/24 vs. the week ending 6/14/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ENGIFP 4.75 PERP | 4.75% | NULL | 43 | 125 | 82 | 191% |
| 2 | CCBGBB 1 10/5/2024 | 1.00% | 10/05/24 | 10 | 68 | 58 | 580% |
| 3 | DE 4.85 10/11/2029 | 4.85% | 10/11/29 | 223 | 280 | 57 | 26% |
| 4 | MTNA 6.8 11/29/2032 | 6.80% | 11/29/32 | 216 | 271 | 55 | 25% |
| 5 | TMUS 5.75 1/15/2054 | 5.75% | 01/15/54 | 228 | 280 | 52 | 23% |
| 6 | MTNA 6.55 11/29/2027 | 6.55% | 11/29/27 | 145 | 193 | 48 | 33% |
| 7 | SANLTD 2.85 3/8/2029 REGS | 2.85% | 03/08/29 | 60 | 108 | 48 | 80% |
| 8 | FLORIDA PWR & LT CO | 6.75% | NULL | 26 | 65 | 39 | 150% |
| 9 | MTNA 7 10/15/2039 | 7.00% | 10/15/39 | 114 | 150 | 36 | 32% |
| 10 | ACAFP 6.875 PERP REGS | 6.88% | NULL | 290 | 326 | 36 | 12% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/7/24 – 6/14/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 42 |
| 2 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 37 |
| 3 | TOYOTA 4.8 1/5/2034 | 4.80% | 01/05/34 | 36 |
| 4 | HSBC 4.7 PERP | 4.70% | NULL | 36 |
| 5 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 36 |
| 6 | HSBC 4.6 PERP | 4.60% | NULL | 35 |
| 7 | BPLN 5.227 11/17/2034 | 5.23% | 11/17/34 | 35 |
| 8 | ENBCN 5.95 4/5/2054 | 5.95% | 04/05/54 | 35 |
| 9 | INTNED 7.5 PERP | 7.50% | 11/16/99 | 35 |
| 10 | AMGN 5.25 3/2/2033 | 5.25% | 03/02/33 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/7/24 – 6/14/24
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 6/7/24 – 6/14/24
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