Investment Grade Corporate Bond Market Summary – Week Ending 11/8/24
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Investment Grade Corporate Bond Market Summary: Week Ending 11/8/24
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 11/8/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Digital Realty Trust LP (USD) 1.875% 11/15/2029 144A | Convertible Note | 1000 | 100 | ||
| Videotron LTD (USD) 5.7% 1/15/2035 | Senior Note, To Be Issued | 700 | 99.94 | 5.71 | 140 |
| Gibson Energy Inc. (CAD) 4.45% 11/12/2031 | Senior Note, To Be Issued | 350 | 99.946 | 4.46 | 130 |
| Capital Southwest Corp. (USD) 5.125% 11/15/2029 | Convertible Note | 200 | 98.5 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 11/1/24 – 11/8/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HTH 6.125 5/15/2035 | 6.13% | 05/15/35 | 12.33% | 90.13 | 80.24 | 5 |
| 2 | VFC 0.625 2/25/2032 | 0.63% | 02/25/32 | 3.98% | 76.36 | 73.44 | 16 |
| 3 | LIFEVT 5.25 7/19/2068 144A | 5.25% | 07/19/68 | 3.89% | 86.61 | 83.36 | 9 |
| 4 | CNRCN 3.5 11/15/2042 | 3.50% | 11/15/42 | 3.68% | 77.87 | 75.11 | 11 |
| 5 | PANAMA 3.87 7/23/2060 | 3.87% | 07/23/60 | 3.63% | 58.04 | 56.01 | 18 |
| 6 | WBD 5.05 3/15/2042 | 5.05% | 03/15/42 | 3.61% | 82.17 | 79.31 | 30 |
| 7 | SOCGEN 7.367 1/10/2053 REGS | 7.37% | 01/10/53 | 3.36% | 104.54 | 101.13 | 8 |
| 8 | HUM 5.75 4/15/2054 | 5.75% | 04/15/54 | 2.98% | 98.61 | 95.76 | 22 |
| 9 | PLD 1.5 9/10/2049 | 1.50% | 09/10/49 | 2.98% | 62.59 | 60.79 | 13 |
| 10 | INTC 4.1 8/14/2047 | 4.10% | 08/14/47 | 2.94% | 76.32 | 74.14 | 14 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 11/1/24 – 11/8/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PFGLN 8.875 1/13/2032 | 8.88% | 01/13/32 | -6.22% | 81.59 | 87.01 | 16 |
| 2 | SWSFIN 6.64 3/31/2026 | 6.64% | 03/31/26 | -4.64% | 87.83 | 92.11 | 17 |
| 3 | KEL 1.7085 2/1/2058 | 1.71% | 02/01/58 | -3.45% | 65.94 | 68.30 | 4 |
| 4 | SVTLN 1.602 9/29/2056 | 1.60% | 09/29/56 | -3.44% | 70.77 | 73.29 | 6 |
| 5 | NRW 2.25 6/14/2052 | 2.25% | 06/14/52 | -2.70% | 81.87 | 84.15 | 4 |
| 6 | CBGLN 2 9/11/2031 | 2.00% | 09/11/31 | -2.70% | 79.29 | 81.49 | 17 |
| 7 | EL 3.125 12/1/2049 | 3.13% | 12/01/49 | -2.69% | 66.77 | 68.61 | 20 |
| 8 | ALVGR 3.875 PERP | 3.88% | NULL | -2.21% | 70.04 | 71.62 | 14 |
| 9 | SBBBSS 0.75 12/14/2028 | 0.75% | 12/14/28 | -2.09% | 70.59 | 72.10 | 18 |
| 10 | UU 0.01 7/27/2040 | 0.01% | 07/27/40 | -2.09% | 64.94 | 66.33 | 5 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 11/1/24 – 11/8/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Hotel, Gaming & Leisure | -949 bps | 4.89% | 14.38% |
| 2 | Energy: Electricity | -120 bps | 11.68% | 12.88% |
| 3 | Finance | -33 bps | 5.42% | 5.75% |
| 4 | Consumer Goods: Durable | -20 bps | 4.07% | 4.27% |
| 5 | Services: Consumer | -18 bps | 4.89% | 5.07% |
| 6 | Media: Advertising, Printing & Publishing | -12 bps | 5.02% | 5.14% |
| 7 | Media: Broadcasting & Subscription | -11 bps | 4.91% | 5.02% |
| 8 | Retail | -9 bps | 4.90% | 4.99% |
| 9 | Construction & Building | -8 bps | 4.38% | 4.46% |
| 10 | Utilities: Water | -7 bps | 4.82% | 4.89% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 11/1/24 – 11/8/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | #REF! | #REF! | #REF! | #REF! |
| 2 | Real Estate | 8 bps | 6.27% | 6.18% |
| 3 | Aerospace & Defense | 8 bps | 5.04% | 4.97% |
| 4 | Sovereign & Public Finance | 6 bps | 4.28% | 4.22% |
| 5 | Banking | 6 bps | 4.55% | 4.50% |
| 6 | Consumer Goods: Non-Durable | 5 bps | 4.63% | 4.57% |
| 7 | Transportation: Consumer | 5 bps | 4.82% | 4.77% |
| 8 | Wholesale | 3 bps | 5.59% | 5.57% |
| 9 | Transportation: Cargo | 2 bps | 4.65% | 4.63% |
| 10 | Insurance | 1 bps | 4.67% | 4.66% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/1/24 – 11/8/24 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 11/1/24 – 11/8/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/1/24 vs. the week ending 11/8/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SW 5.438 4/3/2034 144A | 5.44% | 04/03/34 | 158 | 228 | 70 | 44% |
| 2 | NSC 5.1 8/1/2118 | 5.10% | 08/01/18 | 65 | 129 | 64 | 98% |
| 3 | HD 4.2 4/1/2043 | 4.20% | 04/01/43 | 180 | 232 | 52 | 29% |
| 4 | PARA 4.375 3/15/2043 | 4.38% | 03/15/43 | 189 | 223 | 34 | 18% |
| 5 | PARA 4.9 8/15/2044 | 4.90% | 08/15/44 | 134 | 168 | 34 | 25% |
| 6 | PARA 4.6 1/15/2045 | 4.60% | 01/15/45 | 169 | 203 | 34 | 20% |
| 7 | AAPL 3.25 2/23/2026 | 3.25% | 02/23/26 | 200 | 234 | 34 | 17% |
| 8 | BATSLN 4 9/4/2026 | 4.00% | 09/04/26 | 128 | 160 | 32 | 25% |
| 9 | BALN 5.8 10/11/2041 REGS | 5.80% | 10/11/41 | 113 | 145 | 32 | 28% |
| 10 | PARA 4.85 7/1/2042 | 4.85% | 07/01/42 | 144 | 176 | 32 | 22% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/1/24 – 11/8/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 40 |
| 2 | HSBC 6.375 PERP | 6.38% | NULL | 38 |
| 3 | HSBC 4.6 PERP | 4.60% | NULL | 37 |
| 4 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 37 |
| 5 | HSBC 6.95 PERP | 6.69% | NULL | 37 |
| 6 | ABIBB 4.75 1/23/2029 | 4.75% | 01/23/29 | 36 |
| 7 | JPM 4.946 10/22/2035 | 4.95% | 10/22/35 | 36 |
| 8 | RY 4.65 10/18/2030 | 4.65% | 10/18/30 | 36 |
| 9 | HSBC 6.5 PERP | 6.50% | NULL | 36 |
| 10 | HSBC 5.719 3/4/2035 | 5.72% | 03/04/35 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/1/24 – 11/8/24 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 11/1/24 – 11/8/24
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