Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 8/16/24

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 8/16/24, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Retail Properties of America (USD) 4.95% 12/15/2031 Senior Note, Issued 350 99.328 5.06 132
Regency Centers Corp. (USD) 5.1% 1/15/2035 Senior Note, To Be Issued 325 99.813 5.12 122

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 8/9/24 – 8/16/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 HEIMST 4.375 3/6/2027 4.38% 03/06/27 6.34% 74.05 69.63 19
2 WBA 4.65 6/1/2046 4.65% 06/01/46 6.04% 69.51 65.55 19
3 DKS 4.1 1/15/2052 4.10% 01/15/52 5.76% 75.53 71.42 24
4 JBSSBZ 6.5 12/1/2052 6.50% 12/01/52 5.63% 105.72 100.09 20
5 ONEAM 4.25 10/15/2050 144A 4.25% 10/15/50 5.04% 73.04 69.54 10
6 NVDA 3.7 4/1/2060 3.70% 04/01/60 4.74% 81.57 77.88 26
7 SAVE 8 9/20/2025 144A 8.00% 09/20/25 4.58% 62.75 60.00 22
8 CMS 2.65 8/15/2052 2.65% 08/15/52 4.54% 66.13 63.25 12
9 LOW 5.75 7/1/2053 5.75% 07/01/53 4.53% 104.87 100.33 24
10 GOOGL 2.25 8/15/2060 2.25% 08/15/60 4.47% 59.73 57.17 29

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 8/9/24 – 8/16/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 MSINAI 3.737 7/1/2049 3.74% 07/01/49 -6.59% 70.59 75.58 8
2 TXHLTH 4.33 11/15/2055 4.33% 11/15/55 -3.16% 87.96 90.83 2
3 RICEUN 2.598 5/15/2050 2.60% 05/15/50 -2.93% 66.29 68.29 2
4 LHX 6.35 2/1/2028 6.35% 02/01/28 -1.79% 101.73 103.58 3
5 NEE 0 10/1/2066 0.00% 10/01/66 -1.69% 96.14 97.79 13
6 HPP 5.95 2/15/2028 5.95% 02/15/28 -1.65% 87.15 88.62 20
7 LUMN 4.125 4/15/2030 144A 4.13% 04/15/30 -1.50% 73.64 74.76 16
8 CPIPGR 2.75 1/22/2028 2.75% 01/22/28 -1.43% 83.91 85.13 19
9 IUFINC 2.82 10/1/2051 2.82% 10/01/51 -1.42% 68.40 69.39 2
10 VNKRLE 3.975 11/9/2027 3.98% 11/09/27 -1.27% 60.98 61.76 20

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 8/9/24 – 8/16/24

RANK INDUSTRY CHANGE YLD YLD-1W
1 Wholesale -51 bps 5.30% 5.81%
2 Energy: Electricity -51 bps 11.41% 11.92%
3 #REF! #REF! #REF! #REF!
4 Hotel, Gaming & Leisure -23 bps 7.82% 8.05%
5 Real Estate -20 bps 6.11% 6.31%
6 Transportation: Consumer -18 bps 4.80% 4.98%
7 Aerospace & Defense -18 bps 4.82% 5.00%
8 Consumer Goods: Durable -14 bps 4.01% 4.16%
9 Banking -14 bps 4.45% 4.58%
10 Insurance -11 bps 4.68% 4.79%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 8/9/24 – 8/16/24

RANK INDUSTRY CHANGE YLD YLD-1W
1 Media: Diversified & Production 28 bps 4.58% 4.30%
2 Consumer Goods: Non-Durable 8 bps 4.58% 4.50%
3 Transportation: Cargo 5 bps 4.45% 4.40%
4 Telecommunications 4 bps 4.47% 4.43%
5 Utilities: Water 4 bps 4.86% 4.82%
6 Capital Equipment 1 bps 4.32% 4.31%
7 Utilities: Electric 1 bps 4.42% 4.40%
8 Services: Business 0 bps 3.60% 3.60%
9 Retail -3 bps 4.91% 4.93%
10 Utilities: Oil & Gas -3 bps 4.50% 4.53%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 8/9/24 – 8/16/24

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 8/9/24 – 8/16/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/9/24 vs. the week ending 8/16/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BMW 4.6 4/12/2027 4.60% 04/12/27 33 134 101 306%
2 BMW 4.65 10/13/2026 4.65% 10/13/26 32 128 96 300%
3 INTC 4 12/15/2032 4.00% 12/15/32 216 284 68 31%
4 K 7.45 4/1/2031 7.45% 04/01/31 97 164 67 69%
5 SANLTD 2.85 3/8/2029 2.85% 03/08/29 133 193 60 45%
6 ENELIM 1.625 7/12/2026 144A 1.63% 07/12/26 85 136 51 60%
7 ORAFP 5.5 2/6/2044 5.50% 02/06/44 162 205 43 27%
8 COXENT 4.7 12/15/2042 144A 4.70% 12/15/42 110 150 40 36%
9 SUMIBK FLT 1/13/2026 0.00% 01/13/26 108 147 39 36%
10 MARS 4.75 4/20/2033 144A 4.75% 04/20/33 254 291 37 15%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 8/9/24 – 8/16/24

RANK TRANCHE COUPON MATURITY DEALERS
1 HSBC 8 PERP 8.00% 09/07/99 39
2 MUFG 8.2 PERP 8.20% 07/15/99 38
3 HSBC 4.6 PERP 4.60% NULL 37
4 HSBC 4.7 PERP 4.70% NULL 37
5 KMI 5.95 8/1/2054 5.95% 08/01/54 37
6 META 4.95 5/15/2033 4.95% 05/15/33 36
7 ET 6.05 9/1/2054 6.05% 09/01/54 36
8 CSCO 5.05 2/26/2034 5.05% 02/26/34 36
9 T 5.4 2/15/2034 5.40% 02/15/34 36
10 HON 5 3/1/2035 5.00% 03/01/35 36

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 8/9/24 – 8/16/24

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 8/9/24 – 8/16/24

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