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Investment Grade Corporate Bond Market Summary:
Week Ending 10/11/24

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

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New Issues

IG Corp bond new issues for the week ending 10/11/24, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Toyota Motor Credit Corp. (USD) 4.6% 10/10/2031 Senior Notes 750 99.799 4.63 72
CNH Industrial Capital LLC (USD) 4.5% 10/8/2027 Senior Notes 500 99.809 4.57 68
BMW Canada Inc. (CAD) 3.99% 10/10/2028 Senior Notes 200 99.993 3.99 93

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 10/4/24 – 10/11/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 LRESM 1.843 11/3/2028 1.84% 11/03/28 2.75% 99.04 96.39 10
2 GLPCHI 2.95 3/29/2026 2.95% 03/29/26 2.14% 89.48 87.60 18
3 CPIPGR 1.75 1/14/2030 1.75% 01/14/30 1.68% 82.02 80.67 22
4 TOYOTA 4.65 9/17/2029 4.65% 09/17/29 1.60% 100.85 99.26 14
5 BATSLN 2 3/13/2045 2.00% 03/13/45 1.22% 69.89 69.05 14
6 VOEAV 3.75 10/3/2029 3.75% 10/03/29 1.17% 101.48 100.31 12
7 TSINGH 6.5 1/31/2028 6.50% 01/31/28 1.08% 63.61 62.93 11
8 CERVIM 6 2/15/2029 REGS 6.00% 02/15/29 0.96% 95.12 94.21 14
9 FCDF 2.85 PERP 2.85% NULL 0.95% 98.47 97.55 16
10 ESTONE 7.875 PERP 7.41% NULL 0.89% 105.97 105.03 14

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 10/4/24 – 10/11/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 ELOFR 5.875 4/17/2028 5.88% 04/17/28 -5.40% 86.29 91.22 15
2 PERU 2.78 12/1/2060 2.78% 12/01/60 -4.75% 56.48 59.30 19
3 PRNCTN 2.516 7/1/2050 2.52% 07/01/50 -4.13% 67.38 70.29 6
4 TEMASE 2.5 10/6/2070 REGS 2.50% 10/06/70 -4.03% 62.32 64.94 18
5 PANAMA 4.5 4/1/2056 4.50% 04/01/56 -3.75% 68.55 71.22 20
6 MEX 3.75 4/19/2071 3.75% 04/19/71 -3.73% 60.59 62.94 21
7 BOWDOI 4.693 7/1/2112 4.69% 07/01/12 -3.68% 83.70 86.90 4
8 MASSMU 3.2 12/1/2061 144A 3.20% 12/01/61 -3.61% 63.28 65.65 14
9 CHILE 3.25 9/21/2071 3.25% 09/21/71 -3.58% 63.49 65.85 19
10 LRCX 3.125 6/15/2060 3.13% 06/15/60 -3.56% 66.53 68.99 26

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 10/4/24 – 10/11/24

RANK INDUSTRY CHANGE YLD YLD-1W
1 Finance -46 bps 4.90% 5.36%
2 Services: Consumer -25 bps 4.81% 5.06%
3 Forest Products & Paper -21 bps 3.94% 4.14%
4 Sovereign & Public Finance 0 bps 4.22% 4.21%
5 Services: Business 6 bps 3.68% 3.63%
6 Utilities: Water 8 bps 4.97% 4.89%
7 Wholesale 9 bps 5.36% 5.27%
8 Chemicals, Plastics & Rubber 9 bps 4.76% 4.67%
9 Media: Advertising, Printing & Publishing 9 bps 4.91% 4.81%
10 Banking 9 bps 4.44% 4.34%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 10/4/24 – 10/11/24

RANK INDUSTRY CHANGE YLD YLD-1W
1 Energy: Electricity 35 bps 12.63% 12.27%
2 Real Estate 32 bps 6.27% 5.95%
3 Retail 28 bps 5.08% 4.80%
4 Hotel, Gaming & Leisure 25 bps 4.88% 4.63%
5 Media: Diversified & Production 22 bps 4.32% 4.10%
6 Beverage, Food & Tobacco 21 bps 4.18% 3.97%
7 Containers, Packaging, & Glass 19 bps 4.80% 4.61%
8 Consumer Goods: Non-Durable 19 bps 4.56% 4.37%
9 Transportation: Consumer 18 bps 4.90% 4.73%
10 Healthcare & Pharmaceuticals 17 bps 4.26% 4.09%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 10/4/24 – 10/11/24

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 10/4/24 – 10/11/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/4/24 vs. the week ending 10/11/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 KOROIL FLT 9/30/2027 REGS #VALUE! 09/30/27 48 144 96 200%
2 DSVDC 0.875 9/17/2036 0.88% 09/17/36 54 130 76 141%
3 CMCSA 5.35 5/15/2053 5.35% 05/15/53 230 305 75 33%
4 CMCSA 5.5 5/15/2064 5.50% 05/15/64 224 293 69 31%
5 TOYOTA 4.625 3/29/2028 4.63% 03/29/28 92 159 67 73%
6 GSK 6.375 5/15/2038 6.38% 05/15/38 182 249 67 37%
7 URBREN 3.35 8/27/2027 3.35% 08/27/27 12 78 66 550%
8 VFC 6 10/15/2033 144A 6.00% 10/15/33 19 80 61 321%
9 URBREN 3.45 8/27/2029 3.45% 08/27/29 25 83 58 232%
10 BGARIA 4.25 9/5/2044 4.25% 09/05/44 149 202 53 36%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 10/4/24 – 10/11/24

RANK TRANCHE COUPON MATURITY DEALERS
1 MUFG 8.2 PERP 8.20% 07/15/99 40
2 TOYOTA 4.8 1/5/2034 4.80% 01/05/34 38
3 ENBCN 5.625 4/5/2034 5.63% 04/05/34 38
4 OKE 5.05 11/1/2034 5.05% 11/01/34 38
5 T 5.4 2/15/2034 5.40% 02/15/34 38
6 ORCL 4.7 9/27/2034 4.70% 09/27/34 38
7 ET 5.6 9/1/2034 5.60% 09/01/34 38
8 HSBC 8 PERP 8.00% 09/07/99 38
9 HPE 5 10/15/2034 5.00% 10/15/34 37
10 ET 6.05 9/1/2054 6.05% 09/01/54 37

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 10/4/24 – 10/11/24

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 10/4/24 – 10/11/24

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