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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