Investment Grade Corporate Bond Market Summary – Week Ending 10/18/24
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Investment Grade Corporate Bond Market Summary: Week Ending 10/18/24
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 10/18/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| JP Morgan Chase & Co. (USD) 4.505% 10/22/2028 | Senior Notes | 2000 | 100 | 4.51 | 92 |
| Royal Bank of Canada (CAD) 4.464% 10/17/2035 | Senior Notes | 1000 | 100 | 4.46 | 120 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 10/11/24 – 10/18/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | THAMES 4.375 1/18/2031 | 4.38% | 01/18/31 | 5.71% | 76.35 | 72.22 | 27 |
| 2 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | 5.47% | 68.07 | 64.54 | 17 |
| 3 | WELLTR 2.517 2/7/2118 | 2.52% | 02/07/18 | 4.39% | 52.81 | 50.58 | 17 |
| 4 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | 3.88% | 54.97 | 52.92 | 13 |
| 5 | UU 0.359 10/5/2048 | 0.36% | 10/05/48 | 3.81% | 61.09 | 58.85 | 3 |
| 6 | LANDLN 2.75 9/22/2059 | 2.75% | 09/22/59 | 3.78% | 60.32 | 58.12 | 17 |
| 7 | NOTHLL 4.375 2/20/2054 | 4.38% | 02/20/54 | 3.64% | 83.01 | 80.10 | 17 |
| 8 | BLNFND 2.467 6/16/2061 | 2.47% | 06/16/61 | 3.58% | 52.43 | 50.61 | 6 |
| 9 | KEL 1.46 8/1/2056 | 1.46% | 08/01/56 | 3.56% | 65.94 | 63.68 | 6 |
| 10 | ANCHAN 2 7/21/2051 | 2.00% | 07/21/51 | 3.55% | 52.26 | 50.47 | 14 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 10/11/24 – 10/18/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | BERMUD 3.375 8/20/2050 REGS | 3.38% | 08/20/50 | -2.54% | 70.22 | 72.05 | 3 |
| 2 | ETLFP 9.75 4/13/2029 REGS | 9.75% | 04/13/29 | -2.39% | 99.85 | 102.30 | 16 |
| 3 | HGB 4 4/28/2051 | 4.00% | 04/28/51 | -2.32% | 65.64 | 67.20 | 4 |
| 4 | SESGFP 2.875 PERP | 2.88% | NULL | -1.95% | 92.97 | 94.82 | 22 |
| 5 | PSUBIO FLT 9/30/2028 REGS | 7.70% | 09/30/28 | -1.85% | 89.24 | 90.92 | 15 |
| 6 | COTHEA 3.304 11/1/2049 | 3.30% | 11/01/49 | -1.44% | 73.93 | 75.01 | 4 |
| 7 | KORELE 0 4/1/2096 | 7.95% | 04/01/96 | -1.33% | 133.64 | 135.44 | 6 |
| 8 | AMAT 2.75 6/1/2050 | 2.75% | 06/01/50 | -1.30% | 66.79 | 67.67 | 23 |
| 9 | PARHC 3.765 7/1/2048 | 3.77% | 07/01/48 | -1.29% | 80.68 | 81.73 | 4 |
| 10 | GRWASH 4.126 9/15/2048 | 4.13% | 09/15/48 | -1.28% | 86.71 | 87.83 | 4 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 10/11/24 – 10/18/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -84 bps | 11.76% | 12.60% |
| 2 | Sovereign & Public Finance | -38 bps | 3.84% | 4.22% |
| 3 | Real Estate | -31 bps | 5.97% | 6.28% |
| 4 | Transportation: Consumer | -31 bps | 4.57% | 4.88% |
| 5 | Utilities: Water | -23 bps | 4.75% | 4.98% |
| 6 | Aerospace & Defense | -22 bps | 4.68% | 4.90% |
| 7 | Retail | -20 bps | 4.91% | 5.11% |
| 8 | Construction & Building | -17 bps | 4.22% | 4.39% |
| 9 | Insurance | -13 bps | 4.49% | 4.63% |
| 10 | Energy: Oil & Gas | -13 bps | 5.00% | 5.14% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 10/11/24 – 10/18/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Finance | 38 bps | 5.27% | 4.89% |
| 2 | Forest Products & Paper | 32 bps | 4.24% | 3.93% |
| 3 | Services: Consumer | 9 bps | 4.93% | 4.84% |
| 4 | Media: Broadcasting & Subscription | 1 bps | 4.76% | 4.75% |
| 5 | Metals & Mining | 0 bps | 4.77% | 4.77% |
| 6 | Chemicals, Plastics & Rubber | -2 bps | 4.72% | 4.74% |
| 7 | Environmental Industries | -2 bps | 4.40% | 4.42% |
| 8 | Consumer Goods: Durable | -3 bps | 3.99% | 4.01% |
| 9 | Containers, Packaging, & Glass | -4 bps | 4.77% | 4.81% |
| 10 | Wholesale | -5 bps | 5.30% | 5.35% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/11/24 – 10/18/24 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 10/11/24 – 10/18/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/11/24 vs. the week ending 10/18/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BPLN 0.933 12/4/2040 | 0.93% | 12/04/40 | 34 | 168 | 134 | 394% |
| 2 | XOM 1.408 6/26/2039 | 1.41% | 06/26/39 | 28 | 139 | 111 | 396% |
| 3 | BPLN 1.467 9/21/2041 | 1.47% | 09/21/41 | 65 | 158 | 93 | 143% |
| 4 | RDSALN 0.875 11/8/2039 | 0.88% | 11/08/39 | 64 | 156 | 92 | 144% |
| 5 | BA 6.528 5/1/2034 144A | 6.53% | 05/01/34 | 157 | 242 | 85 | 54% |
| 6 | STATK 3.75 3/22/2039 | 3.75% | 03/22/39 | 102 | 173 | 71 | 70% |
| 7 | TTEFP 1.535 5/31/2039 | 1.54% | 05/31/39 | 90 | 151 | 61 | 68% |
| 8 | TTEFP 1.618 5/18/2040 | 1.62% | 05/18/40 | 90 | 150 | 60 | 67% |
| 9 | OMVAV 0 9/4/2036 | 0.00% | 09/04/36 | 26 | 81 | 55 | 212% |
| 10 | THAMES 1.771 8/28/2057 | 1.77% | 08/28/57 | 106 | 156 | 50 | 47% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/11/24 – 10/18/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 39 |
| 2 | ORCL 4.7 9/27/2034 | 4.70% | 09/27/34 | 39 |
| 3 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 38 |
| 4 | HPE 5 10/15/2034 | 5.00% | 10/15/34 | 38 |
| 5 | TOYOTA 4.8 1/5/2034 | 4.80% | 01/05/34 | 38 |
| 6 | HSBC 8 PERP | 8.00% | 09/07/99 | 38 |
| 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 5.4 2/1/2034 | 5.40% | 02/01/34 | 37 |
| 10 | BHP 5.25 9/8/2033 | 5.25% | 09/08/33 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/11/24 – 10/18/24 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 10/11/24 – 10/18/24
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