Investment Grade Corporate Bond Market Summary – Week Ending 11/29/24
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Investment Grade Corporate Bond Market Summary: Week Ending 11/29/24
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 11/29/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Wells Fargo & Co. (USD) 5.211% 12/3/2035 | Senior Notes | 2500 | |||
| ConocoPhillips (USD) 4.7% 1/15/2030 | Senior Notes | 1350 | 99.867 | 4.73 | 55 |
| PNC Bank NA (USD) 4.775% 1/15/2027 | Senior Notes | 1250 | 100 | ||
| ConocoPhillips (USD) 5% 1/15/2035 | Senior Notes | 1250 | 99.827 | 5.02 | 75 |
| ABN AMRO Bank NV (USD) 5.515% 12/3/2035 144A | Senior Notes | 750 | 100 | ||
| AIG SunAmerica Life Assurance Co. (USD) 4.9% 12/3/2029 REG S | Senior Notes | 600 | 99.873 | 4.93 | 75 |
| Metro Inc. (CAD) 3.998% 11/27/2029 | Senior Notes | 500 | 100 | 4 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 11/22/24 – 11/29/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | OPI 4.5 2/1/2025 | 4.50% | 02/01/25 | 12.88% | 99.07 | 87.76 | 23 |
| 2 | SAVE 8 9/20/2025 144A | 8.00% | 09/20/25 | 11.79% | 77.69 | 69.50 | 23 |
| 3 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | 5.13% | 60.00 | 57.07 | 14 |
| 4 | CIXCN 4.1 6/15/2051 | 4.10% | 06/15/51 | 4.83% | 72.79 | 69.44 | 10 |
| 5 | TEMASE 1.25 11/20/2049 | 1.25% | 11/20/49 | 4.73% | 67.07 | 64.04 | 12 |
| 6 | LIN 1 9/30/2051 | 1.00% | 09/30/51 | 4.39% | 62.62 | 59.98 | 14 |
| 7 | DUKUNI 2.832 10/1/2055 | 2.83% | 10/01/55 | 4.26% | 66.39 | 63.68 | 7 |
| 8 | MSINAI 3.737 7/1/2049 | 3.74% | 07/01/49 | 4.21% | 68.56 | 65.79 | 14 |
| 9 | PEP 1.05 10/9/2050 | 1.05% | 10/09/50 | 4.17% | 66.01 | 63.36 | 17 |
| 10 | FLEMSH 1 1/23/2051 | 1.00% | 01/23/51 | 4.13% | 59.22 | 56.87 | 3 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 11/22/24 – 11/29/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | VNKRLE 3.5 11/12/2029 | 3.50% | 11/12/29 | -6.08% | 52.38 | 55.78 | 20 |
| 2 | KSS 6.875 12/15/2037 | 6.88% | 12/15/37 | -5.40% | 73.43 | 77.62 | 16 |
| 3 | LNGFOR 4.5 1/16/2028 | 4.50% | 01/16/28 | -2.64% | 78.63 | 80.77 | 18 |
| 4 | ADANEM 3.867 7/22/2031 144A | 3.87% | 07/22/31 | -2.60% | 77.81 | 79.89 | 8 |
| 5 | ADTIN 4 8/3/2026 REGS | 4.00% | 08/03/26 | -1.74% | 92.41 | 94.06 | 27 |
| 6 | IFC 0 5/20/2030 | 0.00% | 05/20/30 | -1.66% | 54.73 | 55.65 | 3 |
| 7 | ETLFP 9.75 4/13/2029 REGS | 9.75% | 04/13/29 | -1.27% | 96.63 | 97.87 | 15 |
| 8 | ROMGB 4.15 10/24/2030 | 4.15% | 10/24/30 | -1.15% | 85.43 | 86.42 | 3 |
| 9 | SWSFIN 7.75 10/31/2031 | 7.75% | 10/31/31 | -0.99% | 87.03 | 87.90 | 15 |
| 10 | URUGUA 9.75 7/20/2033 | 9.75% | 07/20/33 | -0.93% | 100.25 | 101.19 | 5 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 11/22/24 – 11/29/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Forest Products & Paper | -59 bps | 3.96% | 4.55% |
| 2 | Consumer Goods: Durable | -40 bps | 3.57% | 3.97% |
| 3 | Real Estate | -32 bps | 6.04% | 6.36% |
| 4 | Beverage, Food & Tobacco | -28 bps | 4.01% | 4.28% |
| 5 | Metals & Mining | -22 bps | 4.60% | 4.82% |
| 6 | Containers, Packaging, & Glass | -21 bps | 4.81% | 5.02% |
| 7 | Energy: Oil & Gas | -21 bps | 5.09% | 5.30% |
| 8 | Sovereign & Public Finance | -20 bps | 4.06% | 4.26% |
| 9 | Transportation: Cargo | -20 bps | 4.63% | 4.83% |
| 10 | Environmental Industries | -18 bps | 4.59% | 4.77% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 11/22/24 – 11/29/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 158 bps | 13.29% | 11.71% |
| 2 | Finance | 24 bps | 5.69% | 5.45% |
| 3 | Consumer Goods: Non-Durable | 17 bps | 4.67% | 4.50% |
| 4 | Media: Diversified & Production | 8 bps | 4.25% | 4.16% |
| 5 | Media: Advertising, Printing & Publishing | 4 bps | 6.29% | 6.25% |
| 6 | Utilities: Water | 2 bps | 4.83% | 4.81% |
| 7 | Services: Business | -5 bps | 3.68% | 3.74% |
| 8 | Banking | -7 bps | 4.33% | 4.41% |
| 9 | Wholesale | -9 bps | 5.56% | 5.65% |
| 10 | Utilities: Electric | -10 bps | 4.39% | 4.49% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/22/24 – 11/29/24 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 11/22/24 – 11/29/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/22/24 vs. the week ending 11/29/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | PBBGR 4 7/25/2028 | 4.00% | 07/25/28 | 30 | 90 | 60 | 200% |
| 2 | BNP 1.5 5/23/2028 | 1.50% | 05/23/28 | 182 | 235 | 53 | 29% |
| 3 | COLBYC 3.054 7/1/2049 | 3.05% | 07/01/49 | 32 | 74 | 42 | 131% |
| 4 | BAC 0.694 3/22/2031 | 0.69% | 03/22/31 | 156 | 195 | 39 | 25% |
| 5 | ADSEZ 8.7 1/9/2029 | 8.70% | 01/09/29 | 25 | 63 | 38 | 152% |
| 6 | MINCAP 4.625 8/10/2030 REGS | 4.63% | 08/10/30 | 131 | 165 | 34 | 26% |
| 7 | VZ 1.875 10/26/2029 | 1.88% | 10/26/29 | 152 | 186 | 34 | 22% |
| 8 | DOW 5.15 2/15/2034 | 5.15% | 02/15/34 | 185 | 218 | 33 | 18% |
| 9 | NTRCN 5.4 6/21/2034 | 5.40% | 06/21/34 | 210 | 243 | 33 | 16% |
| 10 | GM 6.25 10/2/2043 | 6.25% | 10/02/43 | 228 | 261 | 33 | 14% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/22/24 – 11/29/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 39 |
| 2 | HPE 5 10/15/2034 | 5.00% | 10/15/34 | 38 |
| 3 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 37 |
| 4 | HSBC 6.375 PERP | 6.38% | NULL | 36 |
| 5 | HSBC 6.5 PERP | 6.50% | NULL | 36 |
| 6 | HSBC 5.719 3/4/2035 | 5.72% | 03/04/35 | 35 |
| 7 | CSCO 5.05 2/26/2034 | 5.05% | 02/26/34 | 35 |
| 8 | HSBC 4.6 PERP | 4.60% | NULL | 35 |
| 9 | HSBC 5.874 11/18/2035 | 5.87% | 11/18/35 | 35 |
| 10 | HSBC 6.95 PERP | 6.69% | NULL | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/22/24 – 11/29/24 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 11/22/24 – 11/29/24
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