Corporates

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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.

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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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