Corporates

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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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