Investment Grade Corporate Bond Market Summary – Week Ending 1/10/25
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Investment Grade Corporate Bond Market Summary: Week Ending 1/10/25
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 1/10/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Principal Life Global Fund II (USD) 4.8% 1/9/2028 | Senior Notes | 500 | 99.923 | 4.83 | 55 |
| General Motors Financial Co. Inc. (USD) 5.9% 1/7/2035 | Senior Notes | 1000 | 99.858 | 5.92 | 135 |
| Ford Motor Credit Co. (USD) 6.5% 2/7/2035 | Senior Notes | 1250 | 99.924 | 6.51 | 193 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 1/3/25 – 1/10/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TSINGH 6.5 1/31/2028 | 6.50% | 01/31/28 | 13.69% | 76.80 | 67.55 | 11 |
| 2 | ANNFND 2.924 10/6/2051 | 2.92% | 10/06/51 | 11.38% | 75.21 | 67.53 | 18 |
| 3 | ILTYIM 4.375 10/7/2031 | 4.38% | 10/07/31 | 5.22% | 95.69 | 90.94 | 13 |
| 4 | AEGON FLT PERP | 2.70% | NULL | 4.72% | 83.97 | 80.18 | 11 |
| 5 | SBBBSS 0.75 11/14/2028 | 0.75% | 11/14/28 | 4.26% | 74.51 | 71.47 | 14 |
| 6 | HEIMST 4.375 3/6/2027 | 4.38% | 03/06/27 | 4.00% | 93.58 | 89.98 | 18 |
| 7 | SECBEN 6.5 PERP 144A | 9.99% | NULL | 3.68% | 89.75 | 86.56 | 8 |
| 8 | WBA 4.1 4/15/2050 | 4.10% | 04/15/50 | 3.36% | 64.09 | 62.01 | 24 |
| 9 | LITHUN 2.1 5/26/2047 | 2.10% | 05/26/47 | 2.53% | 78.86 | 76.91 | 7 |
| 10 | CITCON 4.496 PERP | 6.96% | NULL | 1.76% | 86.31 | 84.81 | 10 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 1/3/25 – 1/10/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SEWLTD 2.5329 6/3/2041 | 2.53% | 06/03/41 | -6.65% | 71.95 | 77.08 | 10 |
| 2 | UU 1.702 11/21/2057 | 1.73% | 11/21/57 | -5.02% | 66.81 | 70.35 | 6 |
| 3 | BRK 2.625 6/19/2059 | 2.63% | 06/19/59 | -4.77% | 51.76 | 54.36 | 14 |
| 4 | LNGFOR 4.5 1/16/2028 | 4.50% | 01/16/28 | -4.68% | 78.23 | 82.07 | 16 |
| 5 | EDF 6 4/22/2064 REGS | 6.00% | 04/22/64 | -4.65% | 91.36 | 95.81 | 20 |
| 6 | SVTLN 1.5225 8/1/2058 | 1.52% | 08/01/58 | -4.51% | 60.78 | 63.66 | 4 |
| 7 | UKRAIL 1.125 11/22/2047 | 1.13% | 11/22/47 | -4.49% | 80.60 | 84.39 | 6 |
| 8 | RABOBK 5.375 8/3/2060 | 5.38% | 08/03/60 | -4.41% | 92.01 | 96.26 | 12 |
| 9 | VOD 3 8/12/2056 | 3.00% | 08/12/56 | -4.40% | 53.43 | 55.89 | 18 |
| 10 | BRMFRD 2.554 3/17/2054 | 2.55% | 03/17/54 | -4.34% | 50.40 | 52.68 | 7 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 1/3/25 – 1/10/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Consumer | -14 bps | 4.75% | 4.88% |
| 2 | Media: Advertising, Printing & Publishing | -7 bps | 6.07% | 6.14% |
| 3 | Metals & Mining | -2 bps | 4.92% | 4.94% |
| 4 | Aerospace & Defense | -2 bps | 5.12% | 5.13% |
| 5 | Hotel, Gaming & Leisure | 8 bps | 5.03% | 4.96% |
| 6 | Utilities: Electric | 9 bps | 4.71% | 4.62% |
| 7 | Retail | 10 bps | 5.17% | 5.07% |
| 8 | Banking | 11 bps | 4.67% | 4.56% |
| 9 | Forest Products & Paper | 11 bps | 4.71% | 4.60% |
| 10 | Energy: Oil & Gas | 11 bps | 5.50% | 5.38% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 1/3/25 – 1/10/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Wholesale | 51 bps | 6.23% | 5.72% |
| 2 | Finance | 35 bps | 5.68% | 5.33% |
| 3 | Utilities: Water | 31 bps | 5.08% | 4.78% |
| 4 | Containers, Packaging, & Glass | 29 bps | 5.20% | 4.91% |
| 5 | Media: Diversified & Production | 27 bps | 5.13% | 4.86% |
| 6 | Services: Business | 26 bps | 4.23% | 3.96% |
| 7 | Sovereign & Public Finance | 25 bps | 4.30% | 4.05% |
| 8 | Services: Consumer | 23 bps | 4.98% | 4.75% |
| 9 | Chemicals, Plastics & Rubber | 22 bps | 5.05% | 4.83% |
| 10 | Real Estate | 21 bps | 6.44% | 6.24% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/3/25 – 1/10/25 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 1/3/25 – 1/10/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/3/25 vs. the week ending 1/10/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | URBREN 3.45 8/27/2029 | 3.45% | 08/27/29 | 5 | 112 | 107 | 2140% |
| 2 | URBREN 3.55 8/27/2034 | 3.55% | 08/27/34 | 10 | 117 | 107 | 1070% |
| 3 | HKMTGC 3.45 10/17/2029 | 3.45% | 10/17/29 | 25 | 131 | 106 | 424% |
| 4 | HKMTGC 3.55 10/17/2026 | 3.55% | 10/17/26 | 20 | 122 | 102 | 510% |
| 5 | HKMTGC 4.2 2/28/2034 | 4.20% | 02/28/34 | 30 | 132 | 102 | 340% |
| 6 | HKAA 3.83 7/9/2027 | 3.83% | 07/09/27 | 30 | 125 | 95 | 317% |
| 7 | SBBBSS 2.375 8/4/2026 | 2.38% | 08/04/26 | 82 | 151 | 69 | 84% |
| 8 | COF 5.463 7/26/2030 | 5.86% | 07/26/30 | 174 | 240 | 66 | 38% |
| 9 | DE 4.5 1/8/2027 | 4.50% | 01/08/27 | 199 | 263 | 64 | 32% |
| 10 | T 3.55 9/15/2055 | 3.55% | 09/15/55 | 244 | 307 | 63 | 26% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/3/25 – 1/10/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 38 |
| 2 | KMI 5.4 2/1/2034 | 5.40% | 02/01/34 | 37 |
| 3 | PFE 4.75 5/19/2033 | 4.75% | 05/19/33 | 37 |
| 4 | AMGN 5.25 3/2/2033 | 5.25% | 03/02/33 | 36 |
| 5 | HSBC 6.95 PERP | 7.56% | NULL | 36 |
| 6 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 36 |
| 7 | MUFG 5.426 4/17/2035 | 5.43% | 04/17/35 | 35 |
| 8 | HSBC 8 PERP | 8.00% | 09/07/99 | 35 |
| 9 | BHP 5.25 9/8/2033 | 5.25% | 09/08/33 | 35 |
| 10 | GM 5.9 1/7/2035 | 5.90% | 01/07/35 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/3/25 – 1/10/25 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 1/3/25 – 1/10/25
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