Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 8/30/24
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 8/30/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| Capital Power Corp. (CAD) 4.831% 9/16/2031 | Senior Unsecured MTN | 600 | 100 | 4.83 | |
| BOC Aviation PTE LTD (USD) 4.625% 9/4/2031 | Senior Note | 500 | 98.923 | 4.81 | 105 |
| Pacific Life Global Fdg MTN (USD) 4.5% 8/28/2029 | Senior Secured Note | 500 | 99.982 | 4.5 | 78 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 8/23/24 – 8/30/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | CICFP FLT PERP | 5.34% | NULL | 8.50% | 87.91 | 81.02 | 3 |
| 2 | VNKRLE 3.5 11/12/2029 | 3.50% | 11/12/29 | 6.15% | 53.46 | 50.36 | 21 |
| 3 | CPIPGR 1.5 1/27/2031 | 1.50% | 01/27/31 | 5.65% | 73.03 | 69.12 | 20 |
| 4 | SBBBSS 2.375 9/4/2026 | 2.38% | 09/04/26 | 5.05% | 83.57 | 79.55 | 20 |
| 5 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | 4.64% | 70.11 | 67.00 | 20 |
| 6 | GYCGR 1.5 PERP | 1.50% | NULL | 4.19% | 79.46 | 76.27 | 14 |
| 7 | UMBF 6.25 9/28/2032 | 6.25% | 09/28/32 | 4.04% | 89.19 | 85.73 | 5 |
| 8 | HEIMST 4.375 3/6/2027 | 4.38% | 03/06/27 | 3.84% | 80.37 | 77.39 | 19 |
| 9 | CKINF 4.2 PERP | 4.20% | NULL | 3.47% | 77.21 | 74.62 | 12 |
| 10 | ADSEZ 5 8/2/2041 144A | 5.00% | 08/02/41 | 3.30% | 84.07 | 81.38 | 6 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 8/23/24 – 8/30/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | TLGRAM 7 3/22/2026 | 7.00% | 03/22/26 | -9.13% | 86.85 | 95.58 | 13 |
| 2 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | -5.36% | 67.68 | 71.51 | 16 |
| 3 | PETRPE 5.625 6/19/2047 REGS | 5.63% | 06/19/47 | -3.33% | 63.19 | 65.37 | 17 |
| 4 | THAMES 4.375 1/18/2031 | 4.38% | 01/18/31 | -3.25% | 74.90 | 77.42 | 26 |
| 5 | TSINGH 6 12/10/2020 | 6.00% | 12/10/20 | -3.22% | 52.19 | 53.93 | 12 |
| 6 | NGGLN 1.819 5/11/2056 | 1.82% | 05/11/56 | -2.56% | 81.84 | 83.99 | 4 |
| 7 | ASCOTG 4.25 12/15/2030 144A | 4.25% | 12/15/30 | -2.34% | 85.61 | 87.66 | 5 |
| 8 | UNISOU 2.25 4/11/2057 | 2.25% | 04/11/57 | -2.11% | 55.63 | 56.83 | 14 |
| 9 | UU 1.847 7/7/2056 | 1.85% | 07/07/56 | -2.10% | 83.02 | 84.80 | 4 |
| 10 | SWSFIN 4.5 3/31/2052 | 4.50% | 03/31/52 | -2.01% | 74.38 | 75.90 | 14 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 8/23/24 – 8/30/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Aerospace & Defense | -18 bps | 4.76% | 4.94% |
| 2 | Real Estate | -16 bps | 6.35% | 6.51% |
| 3 | Media: Advertising, Printing & Publishing | -6 bps | 4.92% | 4.98% |
| 4 | Automotive | -6 bps | 4.44% | 4.51% |
| 5 | Insurance | -6 bps | 4.56% | 4.62% |
| 6 | Consumer Goods: Durable | -6 bps | 3.99% | 4.05% |
| 7 | Banking | -5 bps | 4.41% | 4.46% |
| 8 | Environmental Industries | -4 bps | 4.34% | 4.39% |
| 9 | Construction & Building | -4 bps | 4.35% | 4.39% |
| 10 | Finance | -3 bps | 5.19% | 5.22% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 8/23/24 – 8/30/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Energy: Electricity | 132 bps | 13.50% | 12.18% |
| 2 | Consumer Goods: Non-Durable | 32 bps | 4.74% | 4.41% |
| 3 | Media: Diversified & Production | 29 bps | 4.47% | 4.18% |
| 4 | Energy: Oil & Gas | 24 bps | 4.98% | 4.74% |
| 5 | Hotel, Gaming & Leisure | 20 bps | 8.14% | 7.94% |
| 6 | Transportation: Consumer | 19 bps | 4.98% | 4.79% |
| 7 | Retail | 15 bps | 4.97% | 4.82% |
| 8 | Services: Business | 14 bps | 3.67% | 3.53% |
| 9 | 0 | 14 bps | 7.40% | 7.26% |
| 10 | Chemicals, Plastics & Rubber | 12 bps | 4.77% | 4.65% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 8/23/24 – 8/30/24
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 8/23/24 – 8/30/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/23/24 vs. the week ending 8/30/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | IR 5.45 6/15/2034 | 5.45% | 06/15/34 | 207 | 262 | 55 | 27% |
| 2 | CMCSA 4.25 1/15/2033 | 4.25% | 01/15/33 | 222 | 276 | 54 | 24% |
| 3 | MS 5.25 1/5/2034 | 5.25% | 01/05/34 | 38 | 86 | 48 | 126% |
| 4 | RY 4.9 6/20/2028 | 4.90% | 06/20/28 | 18 | 64 | 46 | 256% |
| 5 | AGO FLT 12/15/2066 | 7.61% | 12/15/66 | 0 | 46 | 46 | #DIV/0! |
| 6 | JPM 6.1 PERP | 6.10% | NULL | 158 | 198 | 40 | 25% |
| 7 | DIS 3.35 3/24/2025 | 3.35% | 03/24/25 | 146 | 184 | 38 | 26% |
| 8 | TMO 5.2 1/31/2034 | 5.20% | 01/31/34 | 208 | 246 | 38 | 18% |
| 9 | TSN 5.7 3/15/2034 | 5.70% | 03/15/34 | 269 | 304 | 35 | 13% |
| 10 | SWIPRO 3.55 7/25/2028 | 3.55% | 07/25/28 | 60 | 95 | 35 | 58% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 8/23/24 – 8/30/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 40 |
| 2 | HSBC 8 PERP | 8.00% | 09/07/99 | 39 |
| 3 | KR 4.65 9/15/2029 | 4.65% | 09/15/29 | 38 |
| 4 | KR 5 9/15/2034 | 5.00% | 09/15/34 | 38 |
| 5 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 37 |
| 6 | HSBC 4.6 PERP | 4.60% | NULL | 37 |
| 7 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 37 |
| 8 | EPD 5.55 2/16/2055 | 5.55% | 02/16/55 | 37 |
| 9 | TOYOTA 4.8 1/5/2034 | 4.80% | 01/05/34 | 37 |
| 10 | ENBCN 5.95 4/5/2054 | 5.95% | 04/05/54 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 8/23/24 – 8/30/24
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 8/23/24 – 8/30/24
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