Corporates

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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.

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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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