Investment Grade Corporate Bond Market Summary – Week Ending 6/21/24
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Investment Grade Corporate Bond Market Summary: Week Ending 6/21/24
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 6/21/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Home Depot Inc. (USD) 4.95% 6/25/2034 | Senior Unsecured Notes | 1750 | 99.045 | 5.07 | 80 |
| Home Depot Inc. (USD) 5.1% 12/24/2025 | Senior Unsecured Notes | 900 | 99.916 | 5.16 | 40 |
| Hyundai Capital America (USD) 5.45% 6/24/2026 | Senior Note, To Be Issued | 750 | |||
| Oncor Electric Delivery Co. (USD) 5.55% 6/15/2054 | Senior Note, To Be Issued | 750 | 99.958 | 5.55 | 115 |
| AIG Global Funding (USD) 5.35% 6/24/2026 REG S | Senior Secured Note | 700 | 99.948 | 5.38 | 67 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 6/14/24 – 6/21/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TSIVMG 0.15 12/17/2026 | 0.15% | 12/17/26 | 5.89% | 72.46 | 68.42 | 4 |
| 2 | OPI 2.65 6/15/2026 | 2.65% | 06/15/26 | 5.42% | 57.95 | 54.98 | 21 |
| 3 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | 5.30% | 70.56 | 67.00 | 22 |
| 4 | DEPTCC 3.375 PERP | 3.38% | NULL | 4.70% | 93.04 | 88.87 | 12 |
| 5 | CVECN 4.4 4/15/2029 | 4.40% | 04/15/29 | 3.46% | 96.26 | 93.04 | 8 |
| 6 | AMFAHI 3.833 3/11/2051 144A | 3.83% | 03/11/51 | 3.27% | 61.54 | 59.59 | 11 |
| 7 | DUKUNI 2.832 10/1/2055 | 2.83% | 10/01/55 | 2.02% | 67.15 | 65.82 | 9 |
| 8 | ETLFP 2.25 7/13/2027 | 2.25% | 07/13/27 | 1.92% | 87.99 | 86.33 | 19 |
| 9 | DBR 2.5 8/15/2054 | 2.50% | 08/15/54 | 1.73% | 98.52 | 96.85 | 5 |
| 10 | PCGIHD 4.5 8/23/2026 | 4.50% | 08/23/26 | 1.66% | 92.55 | 91.04 | 9 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 6/14/24 – 6/21/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TENN 0.5 11/30/2040 | 0.50% | 11/30/40 | -11.99% | 63.07 | 71.66 | 21 |
| 2 | PARA 6.25 2/28/2057 | 6.25% | 02/28/57 | -4.93% | 81.91 | 86.16 | 20 |
| 3 | VNKRLE 3.5 11/12/2029 | 3.50% | 11/12/29 | -4.46% | 57.51 | 60.20 | 22 |
| 4 | GAZPRU 1.85 11/17/2028 REGS | 1.85% | 11/17/28 | -4.45% | 51.39 | 53.78 | 4 |
| 5 | ENGIFP 5.95 3/16/2011 | 5.95% | 03/16/11 | -3.68% | 118.00 | 122.50 | 10 |
| 6 | RUSSIA 7.5 3/31/2030 REGS | 7.50% | 03/31/30 | -3.44% | 67.65 | 70.06 | 5 |
| 7 | SBNY 4 10/15/2030 | 4.00% | 10/15/30 | -3.14% | 52.95 | 54.66 | 17 |
| 8 | LNT 6.3 5/1/2034 | 6.30% | 05/01/34 | -2.80% | 99.38 | 102.25 | 3 |
| 9 | WBD 5.2 9/20/2047 | 5.20% | 09/20/47 | -2.80% | 79.10 | 81.38 | 19 |
| 10 | DT 1.75 12/9/2049 | 1.75% | 12/09/49 | -2.53% | 68.79 | 70.57 | 18 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 6/14/24 – 6/21/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Utilities: Water | -31 bps | 4.63% | 4.94% |
| 2 | Services: Consumer | -8 bps | 5.93% | 6.01% |
| 3 | Media: Advertising, Printing & Publishing | -6 bps | 8.25% | 8.31% |
| 4 | Transportation: Cargo | -5 bps | 4.85% | 4.90% |
| 5 | Consumer Goods: Durable | -4 bps | 4.31% | 4.35% |
| 6 | Transportation: Consumer | -3 bps | 5.29% | 5.32% |
| 7 | Construction & Building | 0 bps | 4.49% | 4.49% |
| 8 | Insurance | 0 bps | 5.02% | 5.02% |
| 9 | Retail | 2 bps | 5.08% | 5.07% |
| 10 | Metals & Mining | 2 bps | 4.45% | 4.42% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 6/14/24 – 6/21/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 29 bps | 6.87% | 6.58% |
| 2 | Real Estate | 24 bps | 7.47% | 7.23% |
| 3 | Telecommunications | 15 bps | 4.92% | 4.77% |
| 4 | Utilities: Electric | 12 bps | 4.78% | 4.67% |
| 5 | Energy: Oil & Gas | 11 bps | 5.26% | 5.15% |
| 6 | Automotive | 10 bps | 4.88% | 4.78% |
| 7 | Forest Products & Paper | 10 bps | 4.83% | 4.73% |
| 8 | Chemicals, Plastics & Rubber | 10 bps | 5.04% | 4.94% |
| 9 | Capital Equipment | 9 bps | 4.43% | 4.34% |
| 10 | Services: Business | 9 bps | 4.08% | 3.99% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/14/24 – 6/21/24 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 6/14/24 – 6/21/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/14/24 vs. the week ending 6/21/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | DTRGR 5.375 1/18/2034 144A | 5.38% | 01/18/34 | 228 | 301 | 73 | 32% |
| 2 | BNP 5.497 5/20/2030 144A | 5.50% | 05/20/30 | 194 | 250 | 56 | 29% |
| 3 | CEZCP 0.875 12/2/2026 | 0.88% | 12/02/26 | 140 | 190 | 50 | 36% |
| 4 | HD 4.95 9/30/2026 | 4.95% | 09/30/26 | 174 | 222 | 48 | 28% |
| 5 | ICBCAS 2.88 5/23/2027 | 2.88% | 05/23/27 | 46 | 94 | 48 | 104% |
| 6 | ADGB 2.5 9/30/2029 REGS | 2.50% | 09/30/29 | 200 | 246 | 46 | 23% |
| 7 | AL 5.1 3/1/2029 | 5.10% | 03/01/29 | 191 | 236 | 45 | 24% |
| 8 | CABKSM 1.125 11/12/2026 | 1.13% | 11/12/26 | 192 | 236 | 44 | 23% |
| 9 | WFC 1.5 5/24/2027 | 1.50% | 05/24/27 | 162 | 205 | 43 | 27% |
| 10 | AL 5.3 2/1/2028 | 5.30% | 02/01/28 | 198 | 241 | 43 | 22% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/14/24 – 6/21/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 42 |
| 2 | HSBC 4.7 PERP | 4.70% | NULL | 37 |
| 3 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 37 |
| 4 | ET 5.6 9/1/2034 | 5.60% | 09/01/34 | 36 |
| 5 | HSBC 4.6 PERP | 4.60% | NULL | 36 |
| 6 | TOYOTA 4.8 1/5/2034 | 4.80% | 01/05/34 | 36 |
| 7 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 35 |
| 8 | INTNED 7.5 PERP | 7.50% | 11/16/99 | 35 |
| 9 | AMGN 5.25 3/2/2033 | 5.25% | 03/02/33 | 35 |
| 10 | SHBASS 4.75 PERP | 4.75% | NULL | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/14/24 – 6/21/24 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 6/14/24 – 6/21/24
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