Investment Grade Corporate Bond Market Summary – Week Ending 12/13/24
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Investment Grade Corporate Bond Market Summary: Week Ending 12/13/24
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 12/13/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Arthur J Gallagher & Co. (USD) 5.55% 2/15/2055 | Senior Note | 1500 | 99.376 | 5.59 | 117 |
| Toronto-Dominion Bank (USD) 4.568% 12/17/2026 | Senior Note | 1100 | 100 | 4.57 | 45 |
| ANZ Banking Group LTD (USD) 5.47% 12/16/2029 | Senior Note | 900 | 100 | ||
| Arthur J Gallagher & Co. (USD) 4.85% 12/15/2029 | Senior Note | 750 | 99.922 | 4.87 | 77 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 12/6/24 – 12/13/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | WBA 4.4 9/15/2042 | 4.40% | 09/15/42 | 5.74% | 67.25 | 63.60 | 18 |
| 2 | SBBBSS 2.375 9/4/2026 | 2.38% | 09/04/26 | 4.59% | 86.68 | 82.87 | 20 |
| 3 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | 3.62% | 76.99 | 74.30 | 17 |
| 4 | HEIMST 6.75 PERP | 6.75% | NULL | 3.03% | 75.99 | 73.76 | 16 |
| 5 | SWSFIN 7.75 10/31/2031 | 7.75% | 10/31/31 | 2.47% | 89.78 | 87.62 | 14 |
| 6 | ARES 6.75 10/1/2027 | 6.75% | 10/01/27 | 2.46% | 57.33 | 55.95 | 4 |
| 7 | KSS 5.55 7/17/2045 | 5.55% | 07/17/45 | 1.89% | 66.14 | 64.91 | 23 |
| 8 | ALVGR 2.6 PERP | 2.60% | NULL | 1.64% | 84.79 | 83.42 | 22 |
| 9 | HGB 2.25 6/22/2034 | 2.25% | 06/22/34 | 1.55% | 72.03 | 70.93 | 3 |
| 10 | OPMFP 4.875 3/13/2029 | 4.88% | 03/13/29 | 1.49% | 103.08 | 101.57 | 13 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 12/6/24 – 12/13/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PERU 2.78 12/1/2060 | 2.78% | 12/01/60 | -5.14% | 55.48 | 58.49 | 20 |
| 2 | MEX 3.75 4/19/2071 | 3.75% | 04/19/71 | -4.88% | 57.65 | 60.60 | 22 |
| 3 | TEMASE 2.5 10/6/2070 144A | 2.50% | 10/06/70 | -4.86% | 60.48 | 63.57 | 6 |
| 4 | MASSMU 4.5 4/15/2065 144A | 4.50% | 04/15/65 | -4.63% | 76.58 | 80.30 | 10 |
| 5 | SLOVGB 2.25 6/12/2068 | 2.25% | 06/12/68 | -4.48% | 69.04 | 72.28 | 4 |
| 6 | CHILE 3.25 9/21/2071 | 3.25% | 09/21/71 | -4.39% | 61.60 | 64.43 | 21 |
| 7 | WBD 5.391 3/15/2062 | 5.39% | 03/15/62 | -4.36% | 77.70 | 81.24 | 29 |
| 8 | UNH 5.75 7/15/2064 | 5.75% | 07/15/64 | -4.35% | 100.11 | 104.66 | 22 |
| 9 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | -4.27% | 59.04 | 61.67 | 14 |
| 10 | CHINA 2.25 10/21/2050 REGS | 2.25% | 10/21/50 | -4.15% | 65.33 | 68.16 | 14 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 12/6/24 – 12/13/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Finance | -30 bps | 5.27% | 5.58% |
| 2 | Media: Advertising, Printing & Publishing | -7 bps | 6.24% | 6.31% |
| 3 | Real Estate | -6 bps | 5.99% | 6.05% |
| 4 | Utilities: Oil & Gas | -4 bps | 4.56% | 4.60% |
| 5 | Services: Consumer | -2 bps | 4.76% | 4.78% |
| 6 | Hotel, Gaming & Leisure | -1 bps | 4.80% | 4.81% |
| 7 | Energy: Electricity | 0 bps | 11.02% | 11.02% |
| 8 | Containers, Packaging, & Glass | 0 bps | 4.77% | 4.77% |
| 9 | Chemicals, Plastics & Rubber | 2 bps | 4.75% | 4.73% |
| 10 | Retail | 2 bps | 4.82% | 4.79% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 12/6/24 – 12/13/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | 50 bps | 4.65% | 4.15% |
| 2 | Metals & Mining | 14 bps | 4.74% | 4.60% |
| 3 | Transportation: Cargo | 13 bps | 4.64% | 4.51% |
| 4 | Environmental Industries | 12 bps | 4.68% | 4.56% |
| 5 | Telecommunications | 12 bps | 4.49% | 4.37% |
| 6 | Capital Equipment | 11 bps | 4.24% | 4.13% |
| 7 | Transportation: Consumer | 11 bps | 4.50% | 4.39% |
| 8 | Consumer Goods: Non-Durable | 10 bps | 4.46% | 4.36% |
| 9 | High Tech Industries | 10 bps | 4.63% | 4.53% |
| 10 | Consumer Goods: Durable | 9 bps | 3.95% | 3.85% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/6/24 – 12/13/24 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 12/6/24 – 12/13/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/6/24 vs. the week ending 12/13/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | WRK 7.95 2/15/2031 | 7.95% | 02/15/31 | 50 | 116 | 66 | 132% |
| 2 | ENELIM 0.625 5/28/2029 | 0.63% | 05/28/29 | 135 | 200 | 65 | 48% |
| 3 | TFC 4.632 9/17/2029 | 4.65% | 09/17/29 | 65 | 125 | 60 | 92% |
| 4 | BACR 4.375 1/12/2026 | 4.38% | 01/12/26 | 132 | 192 | 60 | 45% |
| 5 | ENELIM 0.25 5/28/2026 | 0.25% | 05/28/26 | 170 | 225 | 55 | 32% |
| 6 | SW 4.9 3/15/2029 | 4.90% | 03/15/29 | 58 | 113 | 55 | 95% |
| 7 | EDF 6 1/22/2014 REGS | 6.00% | 01/22/14 | 60 | 113 | 53 | 88% |
| 8 | CSCO 5.5 1/15/2040 | 5.50% | 01/15/40 | 208 | 260 | 52 | 25% |
| 9 | SW 3 6/15/2033 | 3.00% | 06/15/33 | 95 | 145 | 50 | 53% |
| 10 | SW 3.9 6/1/2028 | 3.90% | 06/01/28 | 80 | 129 | 49 | 61% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/6/24 – 12/13/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 38 |
| 2 | T 2.55 12/1/2033 | 2.55% | 12/01/33 | 36 |
| 3 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 36 |
| 4 | BPLN 5.227 11/17/2034 | 5.23% | 11/17/34 | 36 |
| 5 | HSBC 5.874 11/18/2035 | 5.87% | 11/18/35 | 36 |
| 6 | T 4.35 3/1/2029 | 4.35% | 03/01/29 | 35 |
| 7 | HSBC 6.375 PERP | 6.38% | NULL | 35 |
| 8 | HSBC 6.5 PERP | 6.50% | NULL | 35 |
| 9 | HPE 5 10/15/2034 | 5.00% | 10/15/34 | 35 |
| 10 | WBD 5.05 3/15/2042 | 5.05% | 03/15/42 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/6/24 – 12/13/24 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 12/6/24 – 12/13/24
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