Corporates

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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.

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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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