Investment Grade Corporate Bond Market Summary – Week Ending 9/27/24
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Investment Grade Corporate Bond Market Summary: Week Ending 9/27/24
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 9/27/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Broadcom LTD (USD) 4.15% 2/15/2028 | Senior Notes | 875 | 99.855 | 4.2 | 65 |
| Oracle Corp. (USD) 4.2% 9/27/2029 | Senior Notes | 1500 | 99.902 | 4.22 | 70 |
| Toyota Credit Canada Inc. (CAD) 3.73% 10/2/2029 | Senior Notes | 500 | 99.986 | 3.73 | 100 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 9/20/24 – 9/27/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LNGFOR 4.5 1/16/2028 | 4.50% | 01/16/28 | 10.06% | 80.79 | 73.40 | 20 |
| 2 | TEMASE 2.8 8/17/2071 | 2.80% | 08/17/71 | 6.83% | 98.68 | 92.37 | 4 |
| 3 | HPE 7.625 9/1/2027 | 7.63% | 09/01/27 | 6.22% | 60.30 | 56.77 | 3 |
| 4 | CHJMAO 4.25 7/23/2029 | 4.25% | 07/23/29 | 6.20% | 79.75 | 75.10 | 20 |
| 5 | SHUION 5.5 3/3/2025 | 5.50% | 03/03/25 | 6.12% | 89.97 | 84.78 | 20 |
| 6 | GLPCHI 2.95 3/29/2026 | 2.95% | 03/29/26 | 3.16% | 86.48 | 83.83 | 18 |
| 7 | CITCON 3.625 PERP | 3.63% | NULL | 3.10% | 81.37 | 78.93 | 16 |
| 8 | GYCGR 1.5 PERP | 1.50% | NULL | 2.98% | 88.75 | 86.19 | 15 |
| 9 | IWGLN 6.5 6/28/2030 | 6.50% | 06/28/30 | 2.73% | 106.50 | 103.67 | 11 |
| 10 | ACENPM 4 PERP | 4.00% | NULL | 2.68% | 68.63 | 66.84 | 15 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 9/20/24 – 9/27/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | UBIFP 0.878 11/24/2027 | 0.88% | 11/24/27 | -4.88% | 80.15 | 84.27 | 14 |
| 2 | WBA 4.8 11/18/2044 | 4.80% | 11/18/44 | -4.16% | 73.04 | 76.21 | 19 |
| 3 | T 6.4 5/15/2038 | 6.40% | 05/15/38 | -3.77% | 106.75 | 110.93 | 6 |
| 4 | THAMES 2.45 4/22/2028 | 2.45% | 04/22/28 | -3.48% | 70.55 | 73.09 | 5 |
| 5 | ARAMCO 3.5 11/24/2070 REGS | 3.50% | 11/24/70 | -3.45% | 67.33 | 69.74 | 26 |
| 6 | INUHLT 3.97 11/1/2048 | 3.97% | 11/01/48 | -3.37% | 86.74 | 89.77 | 6 |
| 7 | MSFT 3.95 8/8/2056 | 3.95% | 08/08/56 | -3.09% | 87.88 | 90.68 | 17 |
| 8 | MSKCC 4.125 7/1/2052 | 4.13% | 07/01/52 | -3.03% | 88.61 | 91.38 | 6 |
| 9 | SESGFP 5.5 9/12/2054 | 5.50% | 09/12/54 | -2.97% | 94.26 | 97.15 | 18 |
| 10 | WBD 5.141 3/15/2052 | 5.14% | 03/15/52 | -2.96% | 77.21 | 79.57 | 31 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 9/20/24 – 9/27/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -53 bps | 12.22% | 12.74% |
| 2 | Finance | -17 bps | 4.84% | 5.00% |
| 3 | Consumer Goods: Non-Durable | -14 bps | 4.26% | 4.40% |
| 4 | Wholesale | -9 bps | 5.05% | 5.14% |
| 5 | Chemicals, Plastics & Rubber | -6 bps | 4.54% | 4.60% |
| 6 | Consumer Goods: Durable | -4 bps | 3.83% | 3.87% |
| 7 | Capital Equipment | -3 bps | 3.98% | 4.01% |
| 8 | Utilities: Electric | -2 bps | 4.13% | 4.16% |
| 9 | Banking | -2 bps | 4.30% | 4.32% |
| 10 | Media: Advertising, Printing & Publishing | -2 bps | 4.71% | 4.73% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 9/20/24 – 9/27/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | 18 bps | 4.86% | 4.67% |
| 2 | Hotel, Gaming & Leisure | 17 bps | 4.63% | 4.46% |
| 3 | Aerospace & Defense | 12 bps | 4.71% | 4.59% |
| 4 | Media: Diversified & Production | 8 bps | 4.25% | 4.16% |
| 5 | Real Estate | 8 bps | 6.17% | 6.09% |
| 6 | Energy: Oil & Gas | 7 bps | 4.91% | 4.84% |
| 7 | Services: Business | 6 bps | 3.63% | 3.57% |
| 8 | Automotive | 6 bps | 4.38% | 4.33% |
| 9 | Sovereign & Public Finance | 5 bps | 4.10% | 4.05% |
| 10 | Transportation: Consumer | 5 bps | 4.68% | 4.63% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/20/24 – 9/27/24 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 9/20/24 – 9/27/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/20/24 vs. the week ending 9/27/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ACAFP 3.5 3/14/2034 | 3.50% | 03/14/34 | 27 | 105 | 78 | 289% |
| 2 | TURKWF 8.25 2/14/2029 | 8.25% | 02/14/29 | 50 | 118 | 68 | 136% |
| 3 | TEMASE 3.375 7/23/2042 REGS | 3.38% | 07/23/42 | 172 | 225 | 53 | 31% |
| 4 | NGGLN 6.415 7/18/2054 | 6.42% | 07/18/54 | 179 | 228 | 49 | 27% |
| 5 | VW 3.3 3/22/2033 | 3.30% | 03/22/33 | 146 | 190 | 44 | 30% |
| 6 | BPLN 0.933 12/4/2040 | 0.93% | 12/04/40 | 132 | 173 | 41 | 31% |
| 7 | BPLN 1.467 9/21/2041 | 1.47% | 09/21/41 | 136 | 175 | 39 | 29% |
| 8 | RDSALN 0.875 11/8/2039 | 0.88% | 11/08/39 | 126 | 165 | 39 | 31% |
| 9 | VZ 6.55 9/15/2043 | 6.55% | 09/15/43 | 126 | 163 | 37 | 29% |
| 10 | DTE 4.95 7/1/2027 | 4.95% | 07/01/27 | 189 | 225 | 36 | 19% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/20/24 – 9/27/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 39 |
| 2 | TOYOTA 4.8 1/5/2034 | 4.80% | 01/05/34 | 38 |
| 3 | HSBC 8 PERP | 8.00% | 09/07/99 | 38 |
| 4 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 37 |
| 5 | ENBCN 5.95 4/5/2054 | 5.95% | 04/05/54 | 37 |
| 6 | HPE 5 10/15/2034 | 5.00% | 10/15/34 | 37 |
| 7 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 37 |
| 8 | ET 5.6 9/1/2034 | 5.60% | 09/01/34 | 37 |
| 9 | KMI 5.95 8/1/2054 | 5.95% | 08/01/54 | 37 |
| 10 | BACR 5.335 9/10/2035 | 5.34% | 09/10/35 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 9/20/24 – 9/27/24 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 9/20/24 – 9/27/24
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