Corporates

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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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