Investment Grade Corporate Bond Market Summary – Week Ending 11/1/24
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Investment Grade Corporate Bond Market Summary: Week Ending 11/1/24
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 11/1/24, 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 10/25/24 – 11/1/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HEIMST 6.75 PERP | 6.75% | NULL | 5.54% | 64.84 | 61.44 | 16 |
| 2 | LNGFOR 3.85 1/13/2032 | 3.85% | 01/13/32 | 3.31% | 72.05 | 69.74 | 20 |
| 3 | PFG 4.682 2/15/2048 | 4.68% | 02/15/48 | 3.00% | 85.08 | 82.60 | 15 |
| 4 | THAMES 7.738 4/9/2058 | 7.74% | 04/09/58 | 2.78% | 83.74 | 81.47 | 22 |
| 5 | TLGRAM 7 3/22/2026 | 7.00% | 03/22/26 | 2.76% | 93.33 | 90.83 | 11 |
| 6 | BA 3.85 11/1/2048 | 3.85% | 11/01/48 | 2.57% | 70.61 | 68.85 | 18 |
| 7 | URUGUA 9.75 7/20/2033 | 9.75% | 07/20/33 | 2.46% | 102.88 | 100.41 | 4 |
| 8 | GYCGR 2 10/25/2032 | 2.00% | 10/25/32 | 2.31% | 83.20 | 81.32 | 11 |
| 9 | ETLFP 1.5 10/13/2028 | 1.50% | 10/13/28 | 2.09% | 80.92 | 79.26 | 17 |
| 10 | DSVDC 0.875 9/17/2036 | 0.88% | 09/17/36 | 1.55% | 74.74 | 73.60 | 14 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 10/25/24 – 11/1/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CBGLN 11.125 PERP | 11.13% | 11/29/99 | -10.48% | 92.24 | 103.04 | 22 |
| 2 | SWSFIN 7 4/16/2040 | 7.00% | 04/16/40 | -4.17% | 84.96 | 88.66 | 19 |
| 3 | CKINF 4.85 PERP | 4.85% | NULL | -3.38% | 85.88 | 88.89 | 9 |
| 4 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | -3.28% | 51.67 | 53.43 | 13 |
| 5 | EDF 5.625 1/25/2053 | 5.63% | 01/25/53 | -3.24% | 88.06 | 91.02 | 16 |
| 6 | FRDFND 3.859 6/1/2047 | 3.86% | 06/01/47 | -3.19% | 81.20 | 83.87 | 3 |
| 7 | VOD 3 8/12/2056 | 3.00% | 08/12/56 | -3.07% | 56.81 | 58.61 | 18 |
| 8 | BRMFRD 2.554 3/17/2054 | 2.55% | 03/17/54 | -2.99% | 54.53 | 56.21 | 7 |
| 9 | CNALN 4.25 9/12/2044 | 4.25% | 09/12/44 | -2.95% | 79.61 | 82.03 | 18 |
| 10 | UNISOU 2.25 4/11/2057 | 2.25% | 04/11/57 | -2.94% | 51.62 | 53.18 | 13 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 10/25/24 – 11/1/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | -9 bps | 4.89% | 4.98% |
| 2 | Transportation: Consumer | -3 bps | 4.81% | 4.85% |
| 3 | Real Estate | -2 bps | 6.13% | 6.15% |
| 4 | Utilities: Electric | 8 bps | 4.48% | 4.40% |
| 5 | Insurance | 9 bps | 4.67% | 4.59% |
| 6 | Telecommunications | 9 bps | 4.50% | 4.41% |
| 7 | Transportation: Cargo | 10 bps | 4.63% | 4.53% |
| 8 | Chemicals, Plastics & Rubber | 10 bps | 4.93% | 4.83% |
| 9 | Media: Advertising, Printing & Publishing | 11 bps | 5.13% | 5.02% |
| 10 | Environmental Industries | 11 bps | 4.65% | 4.54% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 10/25/24 – 11/1/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Hotel, Gaming & Leisure | 955 bps | 14.38% | 4.83% |
| 2 | Energy: Electricity | 717 bps | 13.03% | 5.85% |
| 3 | Finance | 53 bps | 5.80% | 5.27% |
| 4 | Consumer Goods: Durable | 29 bps | 4.27% | 3.98% |
| 5 | Wholesale | 19 bps | 5.59% | 5.41% |
| 6 | Banking | 18 bps | 4.50% | 4.31% |
| 7 | Services: Business | 17 bps | 3.95% | 3.78% |
| 8 | Consumer Goods: Non-Durable | 16 bps | 4.62% | 4.46% |
| 9 | Beverage, Food & Tobacco | 16 bps | 4.27% | 4.11% |
| 10 | Healthcare & Pharmaceuticals | 16 bps | 4.44% | 4.29% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/25/24 – 11/1/24 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 10/25/24 – 11/1/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/25/24 vs. the week ending 11/1/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BACRED 3 9/4/2031 | 3.00% | 09/04/31 | 40 | 114 | 74 | 185% |
| 2 | TPR 7.7 11/27/2030 | 7.70% | 11/27/30 | 161 | 235 | 74 | 46% |
| 3 | DNDCN 8.625 4/15/2029 144A | 8.63% | 04/15/29 | 144 | 209 | 65 | 45% |
| 4 | TPR 7.35 11/27/2028 | 7.35% | 11/27/28 | 164 | 227 | 63 | 38% |
| 5 | TPR 7.85 11/27/2033 | 7.85% | 11/27/33 | 240 | 302 | 62 | 26% |
| 6 | WFC 5.707 4/22/2028 | 5.71% | 04/22/28 | 169 | 220 | 51 | 30% |
| 7 | PHILIP 5.5 3/30/2026 | 5.50% | 03/30/26 | 180 | 225 | 45 | 25% |
| 8 | PHILIP 5 1/13/2037 | 5.00% | 01/13/37 | 176 | 220 | 44 | 25% |
| 9 | TPR 3.05 3/15/2032 | 3.05% | 03/15/32 | 185 | 228 | 43 | 23% |
| 10 | APH 5.05 4/5/2027 | 5.05% | 04/05/27 | 165 | 206 | 41 | 25% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/25/24 – 11/1/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 40 |
| 2 | HPE 5 10/15/2034 | 5.00% | 10/15/34 | 39 |
| 3 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 39 |
| 4 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 39 |
| 5 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 38 |
| 6 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 38 |
| 7 | RY 4.65 10/18/2030 | 4.65% | 10/18/30 | 38 |
| 8 | KR 5 9/15/2034 | 5.00% | 09/15/34 | 37 |
| 9 | ENBCN 5.95 4/5/2054 | 5.95% | 04/05/54 | 37 |
| 10 | ENBCN 5.7 3/8/2033 | 5.70% | 03/08/33 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/25/24 – 11/1/24 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 10/25/24 – 11/1/24
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