Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 10/25/24

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 10/25/24, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Bank of America Corp. (USD) 5.518% 10/25/2035 Subordinated Note 3500 100
Anthem Inc. (USD) 5.7% 2/15/2055 Senior Notes 1350 99.453 5.74 125

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 10/18/24 – 10/25/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 CFG 4.3 2/11/2031 4.30% 02/11/31 3.76% 96.91 93.39 5
2 LNC FLT 4/20/2067 6.89% 04/20/67 3.53% 78.77 76.08 14
3 THAMES 7.75 4/30/2044 7.75% 04/30/44 3.44% 80.44 77.76 18
4 ELOFR 4.875 12/8/2028 4.88% 12/08/28 2.75% 85.55 83.26 21
5 OPI 2.65 6/15/2026 2.65% 06/15/26 2.63% 67.28 65.56 18
6 LUMN 4.125 4/15/2029 144A 4.13% 04/15/29 2.40% 87.39 85.34 12
7 ARCPLN 4.5 10/31/2028 REGS 4.50% 10/31/28 1.63% 98.82 97.24 22
8 SWSFIN 6.64 3/31/2026 6.64% 03/31/26 1.61% 92.78 91.31 18
9 ETLFP 9.75 4/13/2029 REGS 9.75% 04/13/29 1.56% 101.41 99.85 16
10 URUGUA 3.4 5/16/2045 3.40% 05/16/45 1.21% 98.68 97.49 3

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 10/18/24 – 10/25/24

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 TPR 7.85 11/27/2033 7.85% 11/27/33 -7.09% 101.71 109.48 28
2 SPGI 2.3 8/15/2060 2.30% 08/15/60 -4.33% 53.03 55.43 17
3 VZ 3 11/20/2060 3.00% 11/20/60 -4.32% 60.40 63.13 22
4 CAT 3.25 9/19/2049 3.25% 09/19/49 -4.27% 72.41 75.64 23
5 MCD 3.7 2/15/2042 3.70% 02/15/42 -4.20% 79.81 83.30 20
6 WBA 4.65 6/1/2046 4.65% 06/01/46 -4.16% 65.24 68.07 16
7 PANAMA 4.5 4/1/2056 4.50% 04/01/56 -4.14% 65.21 68.03 18
8 CMCSA 2.987 11/1/2063 2.99% 11/01/63 -4.09% 60.01 62.57 27
9 MCO 3.1 11/29/2061 3.10% 11/29/61 -4.01% 62.11 64.71 20
10 CRM 3.05 7/15/2061 3.05% 07/15/61 -3.98% 63.84 66.49 24

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 10/18/24 – 10/25/24

RANK INDUSTRY CHANGE YLD YLD-1W
1 Energy: Electricity -593 bps 5.84% 11.77%
2 Metals & Mining -13 bps 4.66% 4.79%
3 Retail -4 bps 4.87% 4.91%
4 Banking -2 bps 4.32% 4.34%
5 Media: Diversified & Production -2 bps 4.22% 4.24%
6 Chemicals, Plastics & Rubber -2 bps 4.70% 4.72%
7 Consumer Goods: Durable -1 bps 3.98% 3.99%
8 Consumer Goods: Non-Durable 1 bps 4.46% 4.45%
9 Finance 2 bps 5.28% 5.26%
10 Beverage, Food & Tobacco 4 bps 4.12% 4.08%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 10/18/24 – 10/25/24

RANK INDUSTRY CHANGE YLD YLD-1W
1 Real Estate 34 bps 6.22% 5.88%
2 Sovereign & Public Finance 24 bps 4.08% 3.84%
3 Services: Consumer 21 bps 4.99% 4.78%
4 Transportation: Consumer 19 bps 4.77% 4.59%
5 Media: Advertising, Printing & Publishing 17 bps 5.02% 4.85%
6 Energy: Oil & Gas 17 bps 5.17% 5.01%
7 Healthcare & Pharmaceuticals 15 bps 4.29% 4.14%
8 Services: Business 15 bps 3.78% 3.63%
9 Environmental Industries 14 bps 4.54% 4.40%
10 Forest Products & Paper 13 bps 4.36% 4.23%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 10/18/24 – 10/25/24

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 10/18/24 – 10/25/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/18/24 vs. the week ending 10/25/24

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 OMVAV 0 9/4/2036 0.00% 09/04/36 81 134 53 65%
2 AES 5.75 4/1/2034 5.75% 04/01/34 20 72 52 260%
3 C 4.838 8/6/2029 4.84% 08/06/29 191 238 47 25%
4 C 4.65 7/30/2045 4.65% 07/30/45 124 170 46 37%
5 PNC 2.307 4/23/2032 2.31% 04/23/32 182 225 43 24%
6 TOYOTA 3.05 3/22/2027 3.05% 03/22/27 251 292 41 16%
7 MMC 2.25 11/15/2030 2.25% 11/15/30 167 205 38 23%
8 BA 6.528 5/1/2034 144A 6.53% 05/01/34 242 277 35 14%
9 BMO FLT 9/10/2030 4.64% 09/10/30 228 261 33 14%
10 RY 6.35 1/23/2025 6.35% 01/23/25 6 38 32 533%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 10/18/24 – 10/25/24

RANK TRANCHE COUPON MATURITY DEALERS
1 HSBC 8 PERP 8.00% 09/07/99 39
2 ENBCN 5.625 4/5/2034 5.63% 04/05/34 39
3 ORCL 4.7 9/27/2034 4.70% 09/27/34 39
4 BHP 5.25 9/8/2033 5.25% 09/08/33 38
5 ORCL 4.2 9/27/2029 4.20% 09/27/29 37
6 MUFG 8.2 PERP 8.20% 07/15/99 37
7 OKE 5.05 11/1/2034 5.05% 11/01/34 37
8 ET 6.05 9/1/2054 6.05% 09/01/54 37
9 ET 5.6 9/1/2034 5.60% 09/01/34 37
10 T 5.4 2/15/2034 5.40% 02/15/34 37

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 10/18/24 – 10/25/24

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 10/18/24 – 10/25/24

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