Investment Grade Corporate Bond Market Summary – Week Ending 2/14/25
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Investment Grade Corporate Bond Market Summary: Week Ending 2/14/25
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 2/14/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Leidos Inc. (USD) 5.5% 3/15/2035 | Senior Unsecured Notes | 500 | 99.453 | 5.57 | 103 |
| Flowers Foods Inc. (USD) 5.75% 3/15/2035 | Senior Unsecured Notes | 500 | 99.818 | 5.77 | 125 |
| Eli Lilly & Co. (USD) 5.6% 2/12/2065 | Senior Unsecured Bond | 750 | 99.762 | 5.62 | 90 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 2/7/25 – 2/14/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | VNKRLE 3.975 11/9/2027 | 3.98% | 11/09/27 | 14.77% | 70.71 | 61.60 | 23 |
| 2 | TSIVMG 1.55 12/17/2029 | 1.55% | 12/17/29 | 6.12% | 64.99 | 61.24 | 4 |
| 3 | SAVE 8 9/20/2025 144A | 8.00% | 09/20/25 | 5.51% | 87.50 | 82.93 | 17 |
| 4 | LNGFOR 3.375 4/13/2027 | 3.38% | 04/13/27 | 5.08% | 87.35 | 83.13 | 21 |
| 5 | TSINGH 5.375 1/31/2023 | 5.38% | 01/31/23 | 4.67% | 72.18 | 68.96 | 11 |
| 6 | SKFBSS 0.25 2/15/2031 | 0.25% | 02/15/31 | 3.64% | 91.30 | 88.09 | 16 |
| 7 | ADSEZ 5 8/2/2041 144A | 5.00% | 08/02/41 | 3.53% | 80.74 | 77.99 | 7 |
| 8 | INTC 4.1 8/14/2047 | 4.10% | 08/14/47 | 3.52% | 74.19 | 71.67 | 13 |
| 9 | SHUION 5.5 6/29/2026 | 5.50% | 06/29/26 | 2.67% | 91.53 | 89.15 | 19 |
| 10 | CHJMAO 4.25 7/23/2029 | 4.25% | 07/23/29 | 2.43% | 86.91 | 84.86 | 19 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 2/7/25 – 2/14/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | EFSF 0.7 1/17/2053 | 0.70% | 01/17/53 | -2.90% | 54.16 | 55.77 | 6 |
| 2 | HPP 3.25 1/15/2030 | 3.25% | 01/15/30 | -2.88% | 71.11 | 73.22 | 21 |
| 3 | PSX 5.65 6/15/2054 | 5.65% | 06/15/54 | -2.76% | 92.85 | 95.48 | 25 |
| 4 | ESM 1.85 12/1/2055 | 1.85% | 12/01/55 | -2.75% | 73.80 | 75.88 | 7 |
| 5 | MPLX 5.65 3/1/2053 | 5.65% | 03/01/53 | -2.67% | 92.31 | 94.84 | 27 |
| 6 | EDF 6.9 5/23/2053 144A | 6.90% | 05/23/53 | -2.62% | 105.92 | 108.77 | 10 |
| 7 | BDX 4.669 6/6/2047 | 4.67% | 06/06/47 | -2.32% | 85.65 | 87.68 | 24 |
| 8 | LEG 3.5 11/15/2051 | 3.50% | 11/15/51 | -2.26% | 61.51 | 62.93 | 12 |
| 9 | EU 0.45 5/2/2046 | 0.45% | 05/02/46 | -2.23% | 57.16 | 58.47 | 7 |
| 10 | BC 5.1 4/1/2052 | 5.10% | 04/01/52 | -2.19% | 77.57 | 79.31 | 12 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 2/7/25 – 2/14/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Aerospace & Defense | -12 bps | 5.03% | 5.14% |
| 2 | Transportation: Consumer | -10 bps | 4.77% | 4.86% |
| 3 | Services: Consumer | -6 bps | 5.02% | 5.09% |
| 4 | Consumer Goods: Non-Durable | -6 bps | 4.55% | 4.62% |
| 5 | Hotel, Gaming & Leisure | -5 bps | 4.80% | 4.84% |
| 6 | Consumer Goods: Durable | -2 bps | 4.01% | 4.04% |
| 7 | Capital Equipment | 0 bps | 4.32% | 4.32% |
| 8 | Beverage, Food & Tobacco | 1 bps | 4.27% | 4.26% |
| 9 | Utilities: Electric | 2 bps | 4.62% | 4.59% |
| 10 | Construction & Building | 3 bps | 4.50% | 4.48% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 2/7/25 – 2/14/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 46 bps | 4.39% | 3.93% |
| 2 | Media: Diversified & Production | 21 bps | 4.83% | 4.61% |
| 3 | #REF! | #REF! | #REF! | #REF! |
| 4 | Containers, Packaging, & Glass | 17 bps | 4.97% | 4.80% |
| 5 | Finance | 17 bps | 5.62% | 5.45% |
| 6 | Sovereign & Public Finance | 15 bps | 4.05% | 3.90% |
| 7 | Services: Business | 10 bps | 3.96% | 3.86% |
| 8 | Metals & Mining | 9 bps | 4.87% | 4.77% |
| 9 | Forest Products & Paper | 8 bps | 4.54% | 4.46% |
| 10 | Banking | 7 bps | 4.49% | 4.42% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/7/25 – 2/14/25 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 2/7/25 – 2/14/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/7/25 vs. the week ending 2/14/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | UBS 7.125 PERP | 7.13% | 12/29/49 | 93 | 305 | 212 | 228% |
| 2 | CDEL 3.15 1/15/2051 144A | 3.15% | 01/15/51 | 10 | 82 | 72 | 720% |
| 3 | T 4.3 2/15/2030 | 4.30% | 02/15/30 | 256 | 322 | 66 | 26% |
| 4 | UBS 5.8 5/17/2030 | 2.88% | 05/17/30 | 14 | 80 | 66 | 471% |
| 5 | JPM 6.4 1/25/2038 | 6.40% | 01/25/38 | 4 | 69 | 65 | 1625% |
| 6 | RY FLT 2/4/2031 | 5.15% | 02/04/31 | 276 | 340 | 64 | 23% |
| 7 | ORCL 6.25 11/9/2032 | 6.25% | 11/09/32 | 257 | 321 | 64 | 25% |
| 8 | UBS 7 12/6/2028 | 7.00% | 12/06/28 | 34 | 95 | 61 | 179% |
| 9 | FOXA 4.709 1/25/2029 | 4.71% | 01/25/29 | 219 | 279 | 60 | 27% |
| 10 | ORCL 4.8 8/3/2028 | 4.80% | 08/03/28 | 243 | 300 | 57 | 23% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/7/25 – 2/14/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NEE 5.9 3/15/2055 | 5.90% | 03/15/55 | 42 |
| 2 | NEE 5.45 3/15/2035 | 5.45% | 03/15/35 | 39 |
| 3 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 39 |
| 4 | NEE 5.3 3/15/2032 | 5.30% | 03/15/32 | 38 |
| 5 | GM 5.9 1/7/2035 | 5.90% | 01/07/35 | 38 |
| 6 | NEE 5.25 3/15/2034 | 5.25% | 03/15/34 | 38 |
| 7 | HON 5 3/1/2035 | 5.00% | 03/01/35 | 38 |
| 8 | TOYOTA 4.95 1/9/2030 | 4.95% | 01/09/30 | 38 |
| 9 | GM 5.35 1/7/2030 | 5.35% | 01/07/30 | 37 |
| 10 | KMI 5.95 8/1/2054 | 5.95% | 08/01/54 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/7/25 – 2/14/25 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 2/7/25 – 2/14/25
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