Investment Grade Corporate Bond Market Summary – Week Ending 1/17/25
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Investment Grade Corporate Bond Market Summary: Week Ending 1/17/25
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 1/17/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Dexia Credit Local (USD) 4.75% 1/24/2030 | Senior Notes | 1000 | 99.591 | 4.84 | 44 |
| Orlando Health Obligated Grp. (USD) 5.475% 10/1/2035 | Senior Notes | 400 | 100 | 5.48 | 80 |
| New York Life Global Funding (USD) 5.35% 1/23/2035 | Senior Notes | 750 | 99.916 | 5.36 | 70 |
| Citadel LTD (USD) 6% 1/23/2030 | Senior Notes | 500 | 99.35 | 6.15 | 170 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 1/10/25 – 1/17/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | WBA 4.5 11/18/2034 | 4.50% | 11/18/34 | 5.03% | 80.28 | 76.43 | 20 |
| 2 | SSELN 1.429 10/20/2056 | 1.43% | 10/20/56 | 4.96% | 69.28 | 66.01 | 8 |
| 3 | HPP 3.25 1/15/2030 | 3.25% | 01/15/30 | 4.88% | 70.90 | 67.60 | 21 |
| 4 | UU 1.847 7/7/2056 | 1.85% | 07/07/56 | 4.78% | 74.07 | 70.69 | 7 |
| 5 | UKRAIL 1.125 11/22/2047 | 1.13% | 11/22/47 | 4.76% | 84.43 | 80.60 | 6 |
| 6 | THAMES 1.846 8/28/2047 | 1.85% | 08/28/47 | 4.73% | 65.64 | 62.68 | 10 |
| 7 | NGGLN 1.819 5/11/2056 | 1.82% | 05/11/56 | 4.48% | 72.92 | 69.80 | 7 |
| 8 | DEVPHI 2.375 3/11/2031 | 2.38% | 03/11/31 | 4.35% | 87.78 | 84.12 | 17 |
| 9 | PANAMA 3.87 7/23/2060 | 3.87% | 07/23/60 | 4.05% | 53.77 | 51.68 | 21 |
| 10 | HTHROW 1.372 1/28/2049 | 9.16% | 01/28/49 | 3.93% | 69.38 | 66.76 | 7 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 1/10/25 – 1/17/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | -6.45% | 60.39 | 64.56 | 12 |
| 2 | EIX 6.95 11/15/2029 | 6.95% | 11/15/29 | -3.60% | 102.15 | 105.97 | 21 |
| 3 | LNGFOR 3.375 4/13/2027 | 3.38% | 04/13/27 | -3.49% | 77.20 | 79.99 | 17 |
| 4 | OHNAT 6.875 6/15/2042 144A | 6.88% | 06/15/42 | -3.18% | 88.40 | 91.30 | 7 |
| 5 | KSS 5.55 7/17/2045 | 5.55% | 07/17/45 | -2.85% | 60.87 | 62.66 | 21 |
| 6 | GLPCHI 2.95 3/29/2026 | 2.95% | 03/29/26 | -2.84% | 87.22 | 89.77 | 17 |
| 7 | SQM 3.5 9/10/2051 REGS | 3.50% | 09/10/51 | -1.80% | 63.69 | 64.86 | 19 |
| 8 | ROMANI 5.125 9/24/2031 144A | 5.13% | 09/24/31 | -1.80% | 95.51 | 97.25 | 5 |
| 9 | MRO 5.2 6/1/2045 | 5.20% | 06/01/45 | -1.80% | 90.26 | 91.91 | 10 |
| 10 | EPEN 5.875 11/30/2029 | 5.88% | 11/30/29 | -1.40% | 104.19 | 105.67 | 16 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 1/10/25 – 1/17/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Wholesale | -45 bps | 5.78% | 6.23% |
| 2 | Containers, Packaging, & Glass | -29 bps | 4.94% | 5.23% |
| 3 | Media: Diversified & Production | -26 bps | 4.86% | 5.12% |
| 4 | Finance | -24 bps | 5.43% | 5.67% |
| 5 | Services: Business | -22 bps | 4.00% | 4.22% |
| 6 | Utilities: Water | -21 bps | 4.94% | 5.14% |
| 7 | Chemicals, Plastics & Rubber | -20 bps | 4.84% | 5.04% |
| 8 | Banking | -20 bps | 4.48% | 4.68% |
| 9 | Media: Advertising, Printing & Publishing | -20 bps | 5.87% | 6.07% |
| 10 | Consumer Goods: Non-Durable | -16 bps | 4.71% | 4.87% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 1/10/25 – 1/17/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Consumer | 20 bps | 4.98% | 4.77% |
| 2 | Aerospace & Defense | 1 bps | 5.16% | 5.15% |
| 3 | Services: Consumer | 0 bps | 4.96% | 4.96% |
| 4 | Utilities: Electric | -2 bps | 4.68% | 4.70% |
| 5 | Energy: Electricity | -4 bps | 4.07% | 4.11% |
| 6 | Beverage, Food & Tobacco | -5 bps | 4.37% | 4.42% |
| 7 | Utilities: Oil & Gas | -5 bps | 4.79% | 4.85% |
| 8 | Real Estate | -6 bps | 6.41% | 6.47% |
| 9 | Capital Equipment | -7 bps | 4.44% | 4.50% |
| 10 | Metals & Mining | -7 bps | 4.86% | 4.93% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/10/25 – 1/17/25 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 1/10/25 – 1/17/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/10/25 vs. the week ending 1/17/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | EIX 5.45 6/15/2029 | 5.45% | 06/15/29 | 128 | 216 | 88 | 69% |
| 2 | EIX 6.95 11/15/2029 | 6.95% | 11/15/29 | 139 | 209 | 70 | 50% |
| 3 | T 3.5 9/15/2053 | 3.50% | 09/15/53 | 250 | 320 | 70 | 28% |
| 4 | EIBKOR FLT 9/2/2025 | 3.25% | 09/02/25 | 4 | 72 | 68 | 1700% |
| 5 | TELEFO 5.52 3/1/2049 | 5.52% | 03/01/49 | 189 | 253 | 64 | 34% |
| 6 | JPM 4.85 12/20/2044 | 4.85% | 12/20/44 | 4 | 68 | 64 | 1600% |
| 7 | EIX 5.3 3/1/2028 | 5.30% | 03/01/28 | 124 | 188 | 64 | 52% |
| 8 | BNSF 5.2 4/15/2054 | 5.20% | 04/15/54 | 232 | 295 | 63 | 27% |
| 9 | RENAUL 3.5 5/10/2028 | 3.50% | 05/10/28 | 66 | 128 | 62 | 94% |
| 10 | EIX 5.25 11/15/2028 | 5.25% | 11/15/28 | 140 | 201 | 61 | 44% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/10/25 – 1/17/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | GM 5.35 1/7/2030 | 5.35% | 01/07/30 | 38 |
| 2 | TOYOTA 4.95 1/9/2030 | 4.95% | 01/09/30 | 37 |
| 3 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 37 |
| 4 | NAB 4.901 1/14/2030 | 4.90% | 01/14/30 | 36 |
| 5 | HYNMTR FLT 11/1/2027 144A | 5.00% | 01/07/28 | 36 |
| 6 | EIX 5.45 3/1/2035 | 5.45% | 03/01/35 | 36 |
| 7 | EIX 5.9 3/1/2055 | 5.90% | 03/01/55 | 36 |
| 8 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 36 |
| 9 | AMGN 5.25 3/2/2033 | 5.25% | 03/02/33 | 36 |
| 10 | PFE 4.75 5/19/2033 | 4.75% | 05/19/33 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/10/25 – 1/17/25 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 1/10/25 – 1/17/25
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