Corporates

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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.

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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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