Investment Grade Corporate Bond Market Summary – Week Ending 9/13/24
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Investment Grade Corporate Bond Market Summary: Week Ending 9/13/24
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 9/13/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| APT Pipelines LTD (USD) 5.75% 9/16/2044 | Senior Notes | 500 | 6.875 | ||
| Oneok Inc. (USD) 5.7% 11/1/2054 | Senior Notes | 1500 | 99.719 | 5.719 | 175 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 9/6/24 – 9/13/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SBNY 4 10/15/2030 | 4.00% | 10/15/30 | 7.19% | 60.60 | 56.54 | 15 |
| 2 | HEIMST 6.75 PERP | 6.75% | NULL | 6.87% | 51.85 | 48.52 | 16 |
| 3 | AIG FLT 3/15/2037 | 5.45% | 03/15/37 | 6.86% | 99.52 | 93.14 | 6 |
| 4 | TLGRAM 7 3/22/2026 | 7.00% | 03/22/26 | 5.41% | 92.08 | 87.36 | 16 |
| 5 | NI 6.25 12/15/2040 | 6.25% | 12/15/40 | 4.60% | 107.85 | 103.10 | 6 |
| 6 | WGL 4.6 11/1/2044 | 4.60% | 11/01/44 | 4.02% | 90.62 | 87.12 | 3 |
| 7 | CITCON 3.625 PERP | 3.63% | NULL | 3.82% | 76.15 | 73.35 | 16 |
| 8 | DUK 2.5 8/15/2050 | 2.50% | 08/15/50 | 3.49% | 63.73 | 61.58 | 17 |
| 9 | IDA 4.05 3/1/2046 | 4.05% | 03/01/46 | 3.39% | 82.02 | 79.33 | 7 |
| 10 | GYCGR 2 10/25/2032 | 2.00% | 10/25/32 | 3.24% | 79.93 | 77.42 | 10 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 9/6/24 – 9/13/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | VNKRLE 3.15 5/12/2025 | 3.15% | 05/12/25 | -9.79% | 75.78 | 84.00 | 22 |
| 2 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | -7.57% | 63.94 | 69.18 | 21 |
| 3 | UBIFP 0.878 11/24/2027 | 0.88% | 11/24/27 | -4.44% | 83.39 | 87.26 | 14 |
| 4 | TELVIS 6.625 1/15/2040 | 6.63% | 01/15/40 | -3.77% | 98.40 | 102.26 | 9 |
| 5 | HPP 4.65 4/1/2029 | 4.65% | 04/01/29 | -3.34% | 80.47 | 83.25 | 19 |
| 6 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | -3.13% | 66.45 | 68.60 | 15 |
| 7 | CHJMAO 4.25 7/23/2029 | 4.25% | 07/23/29 | -2.88% | 75.15 | 77.38 | 19 |
| 8 | MSINAI 3.737 7/1/2049 | 3.74% | 07/01/49 | -2.87% | 69.63 | 71.69 | 10 |
| 9 | URUGUA 9.75 7/20/2033 | 9.75% | 07/20/33 | -2.47% | 97.84 | 100.31 | 4 |
| 10 | PCPDC 5.125 6/18/2026 | 5.13% | 06/18/26 | -2.45% | 87.38 | 89.57 | 13 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 9/6/24 – 9/13/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -531 bps | 5.91% | 11.22% |
| 2 | Finance | -22 bps | 4.84% | 5.07% |
| 3 | Utilities: Water | -11 bps | 4.76% | 4.88% |
| 4 | Services: Consumer | -11 bps | 4.57% | 4.68% |
| 5 | Media: Broadcasting & Subscription | -9 bps | 4.65% | 4.74% |
| 6 | Banking | -8 bps | 4.31% | 4.39% |
| 7 | Consumer Goods: Durable | -8 bps | 3.77% | 3.85% |
| 8 | Utilities: Oil & Gas | -8 bps | 4.27% | 4.35% |
| 9 | Environmental Industries | -7 bps | 4.13% | 4.21% |
| 10 | Insurance | -7 bps | 4.43% | 4.50% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 9/6/24 – 9/13/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Metals & Mining | 15 bps | 4.82% | 4.67% |
| 2 | Aerospace & Defense | 10 bps | 4.66% | 4.57% |
| 3 | Transportation: Cargo | 5 bps | 4.26% | 4.21% |
| 4 | Chemicals, Plastics & Rubber | 4 bps | 4.58% | 4.54% |
| 5 | Hotel, Gaming & Leisure | 2 bps | 4.56% | 4.55% |
| 6 | Media: Advertising, Printing & Publishing | -1 bps | 4.77% | 4.78% |
| 7 | Consumer Goods: Non-Durable | -2 bps | 4.39% | 4.40% |
| 8 | Sovereign & Public Finance | -2 bps | 4.06% | 4.07% |
| 9 | Utilities: Electric | -2 bps | 4.17% | 4.19% |
| 10 | Transportation: Consumer | -4 bps | 4.57% | 4.61% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/6/24 – 9/13/24 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 9/6/24 – 9/13/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/6/24 vs. the week ending 9/13/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HSBC 6.875 12/29/2049 | 6.88% | 12/29/49 | 38 | 155 | 117 | 308% |
| 2 | ROSW 5.218 3/8/2054 144A | 5.22% | 03/08/54 | 151 | 245 | 94 | 62% |
| 3 | PSX 5.25 6/15/2031 | 5.25% | 06/15/31 | 213 | 272 | 59 | 28% |
| 4 | EBAY 4 7/15/2042 | 4.00% | 07/15/42 | 146 | 200 | 54 | 37% |
| 5 | EIBKOR 4 6/7/2027 | 4.00% | 06/07/27 | 82 | 131 | 49 | 60% |
| 6 | SOCGEN 4.75 11/24/2025 REGS | 4.75% | 11/24/25 | 32 | 80 | 48 | 150% |
| 7 | APTV 4.15 5/1/2052 | 4.15% | 05/01/52 | 175 | 223 | 48 | 27% |
| 8 | KSS 4.625 5/1/2031 | 4.63% | 05/01/31 | 158 | 205 | 47 | 30% |
| 9 | HPE 6.35 10/15/2045 | 6.35% | 10/15/45 | 235 | 279 | 44 | 19% |
| 10 | PSX 5.65 6/15/2054 | 5.65% | 06/15/54 | 256 | 298 | 42 | 16% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/6/24 – 9/13/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | KR 5 9/15/2034 | 5.00% | 09/15/34 | 40 |
| 2 | KR 4.65 9/15/2029 | 4.65% | 09/15/29 | 39 |
| 3 | KR 4.9 9/15/2031 | 4.90% | 09/15/31 | 38 |
| 4 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 38 |
| 5 | ENBCN 5.95 4/5/2054 | 5.95% | 04/05/54 | 38 |
| 6 | EPD 5.55 2/16/2055 | 5.55% | 02/16/55 | 37 |
| 7 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 37 |
| 8 | KMI 5.95 8/1/2054 | 5.95% | 08/01/54 | 37 |
| 9 | KR 5.5 9/15/2054 | 5.50% | 09/15/54 | 37 |
| 10 | VZ 2.355 3/15/2032 | 2.36% | 03/15/32 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 9/6/24 – 9/13/24 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 9/6/24 – 9/13/24
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