Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 1/24/25

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 1/24/25, issue size of $50 million and larger

 

 

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Royal Bank of Canada (CAD) 4.279% 2/4/2035 Senior Notes 1500 99.999 4.28 122
Penske Truck Leasing (USD) 5.25% 2/1/2030 Senior Notes 750 99.886 5.28 85
Goldman Sachs Group Inc. (USD) 5.375% 1/22/2030 Senior Notes 70 100 5.38
Blackstone Private Credit Fund (USD) 6% 1/29/2032 Senior Notes 1000 98.472 6.27 175

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 1/17/25 – 1/24/25

 

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 SESGFP 2.875 PERP 2.88% NULL 9.27% 91.34 83.58 22
2 CBGLN 2 9/11/2031 2.00% 09/11/31 8.32% 89.92 83.01 14
3 ANNFND 3.935 7/12/2047 3.94% 07/12/47 4.91% 85.32 81.33 18
4 LNGFOR 3.375 4/13/2027 3.38% 04/13/27 4.41% 80.60 77.20 19
5 HEIMST 6.75 PERP 6.75% NULL 3.43% 72.82 70.40 16
6 AMGN 2.77 9/1/2053 2.77% 09/01/53 3.13% 58.06 56.30 22
7 UNP 4.1 9/15/2067 4.10% 09/15/67 2.94% 73.60 71.50 21
8 HPP 4.65 4/1/2029 4.65% 04/01/29 2.80% 80.79 78.59 22
9 CHJMAO 4.25 7/23/2029 4.25% 07/23/29 2.75% 82.25 80.05 19
10 AEGON FLT PERP 2.70% NULL 2.63% 83.88 81.73 11

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 1/17/25 – 1/24/25

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 LASUDE 5 7/28/2026 5.00% 07/28/26 -10.87% 53.83 60.39 13
2 TSINGH 6.5 1/31/2028 6.50% 01/31/28 -7.91% 69.78 75.77 12
3 NWSZF 6.375 8/22/2028 6.38% 08/22/28 -5.94% 88.16 93.73 14
4 ETLFP 9.75 4/13/2029 REGS 9.75% 04/13/29 -4.48% 87.10 91.18 20
5 NANFUN 5 PERP 5.00% NULL -3.73% 66.56 69.14 12
6 THAMES 8.25 4/25/2040 8.25% 04/25/40 -2.93% 80.94 83.38 18
7 HYSAN 4.85 PERP 4.85% NULL -1.74% 65.87 67.03 12
8 ORSTED 5.375 9/13/2042 5.38% 09/13/42 -1.62% 88.84 90.30 17
9 BNKEA 6.75 6/27/2034 6.92% 06/27/34 -1.48% 98.70 100.19 21
10 ROMANI 4.625 4/3/2049 REGS 4.63% 04/03/49 -1.45% 76.99 78.12 21

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 1/17/25 – 1/24/25

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Media: Broadcasting & Subscription -12 bps 4.82% 4.94%
2 Utilities: Water -11 bps 4.86% 4.97%
3 Finance -9 bps 5.33% 5.42%
4 Transportation: Consumer -7 bps 4.93% 5.00%
5 Media: Advertising, Printing & Publishing -7 bps 5.81% 5.88%
6 Wholesale -1 bps 5.76% 5.78%
7 Utilities: Oil & Gas 0 bps 4.79% 4.79%
8 Sovereign & Public Finance 2 bps 4.23% 4.21%
9 Energy: Electricity 2 bps 4.10% 4.08%
10 Retail 2 bps 5.09% 5.07%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 1/17/25 – 1/24/25

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Services: Consumer 17 bps 4.93% 4.76%
2 Banking 17 bps 4.66% 4.49%
3 Services: Business 11 bps 4.11% 4.00%
4 Transportation: Cargo 11 bps 4.97% 4.86%
5 Containers, Packaging, & Glass 9 bps 5.06% 4.96%
6 Utilities: Electric 8 bps 4.76% 4.68%
7 Automotive 7 bps 4.93% 4.86%
8 Chemicals, Plastics & Rubber 7 bps 4.90% 4.83%
9 Insurance 7 bps 4.92% 4.85%
10 Media: Diversified & Production 7 bps 4.93% 4.86%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 1/17/25 – 1/24/25

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 1/17/25 – 1/24/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/17/25 vs. the week ending 1/24/25

 

 

 

 

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GS FLT 1/23/2029 3.44% 01/23/29 4 159 155 3875%
2 SOCGEN 6.1 4/13/2033 144A 6.10% 04/13/33 140 273 133 95%
3 WFC 4.9 12/9/2028 4.90% 12/09/28 22 110 88 400%
4 AVOL 5.15 1/15/2030 REGS 5.15% 01/15/30 34 107 73 215%
5 DT 3 12/21/2032 3.00% 12/21/32 25 94 69 276%
6 GS 6.85 10/20/2028 6.85% 10/20/28 10 72 62 620%
7 KSA 5.625 1/13/2035 REGS 5.63% 01/13/35 172 234 62 36%
8 KSA 5.375 1/13/2031 REGS 5.38% 01/13/31 156 214 58 37%
9 HPE 6.2 10/15/2035 6.20% 10/15/35 166 221 55 33%
10 KSA 5.125 1/13/2028 REGS 5.13% 01/13/28 150 204 54 36%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 1/17/25 – 1/24/25

 

 

 

 

RANK TRANCHE COUPON MATURITY DEALERS
1 GM 5.35 1/7/2030 5.35% 01/07/30 41
2 TOYOTA 4.95 1/9/2030 4.95% 01/09/30 40
3 GM 5.9 1/7/2035 5.90% 01/07/35 40
4 OKE 5.05 11/1/2034 5.05% 11/01/34 39
5 HYNMTR FLT 11/1/2027 144A 5.00% 01/07/28 39
6 HYNMTR 5.3 1/8/2030 144A 5.30% 01/08/30 39
7 EIX 5.45 3/1/2035 5.45% 03/01/35 38
8 NAB 4.901 1/14/2030 4.90% 01/14/30 38
9 T 5.4 2/15/2034 5.40% 02/15/34 38
10 TOYOTA 5.35 1/9/2035 5.35% 01/09/35 37

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 1/17/25 – 1/24/25

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 1/17/25 – 1/24/25

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