Corporates

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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.

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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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