Investment Grade Corporate Bond Market Summary – Week Ending 3/7/25
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Investment Grade Corporate Bond Market Summary: Week Ending 3/7/25
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 3/7/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| KKR & Co. LP (USD) 6.25% 3/1/2028 | Preferred Stock, To Be Issued | 2588 | 100 | ||
| MPLX LP (USD) 5.95% 4/1/2055 | Senior Note, To Be Issued | 1000 | 98.331 | 6.07 | 160 |
| Carolina Power & Light Co. (USD) 5.05% 3/15/2035 | First Mortgage Bond, To Be Issued | 850 | 99.882 | 5.07 | 90 |
| Synchrony Financial (USD) 5.45% 3/6/2031 | Senior Note, To Be Issued | 800 | 100 | ||
| Humana Inc. (USD) 5.55% 5/1/2035 | Senior Note, Issued | 750 | 99.885 | 5.56 | 138 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 2/28/25 – 3/7/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ETLFP 9.75 4/13/2029 REGS | 9.75% | 04/13/29 | 15.18% | 98.68 | 85.67 | 20 |
| 2 | VNKRLE 3.975 11/9/2027 | 3.98% | 11/09/27 | 7.87% | 76.27 | 70.70 | 22 |
| 3 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | 5.96% | 76.51 | 72.21 | 22 |
| 4 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | 3.31% | 79.41 | 76.86 | 19 |
| 5 | GARUDA 6.5 12/28/2031 | 7.25% | 12/28/31 | 2.97% | 66.76 | 64.84 | 4 |
| 6 | PCPDC 5.125 6/18/2026 | 5.13% | 06/18/26 | 2.90% | 92.40 | 89.80 | 13 |
| 7 | SHUION 5.5 6/29/2026 | 5.50% | 06/29/26 | 2.55% | 96.03 | 93.64 | 17 |
| 8 | FBC 4.125 11/1/2030 | 4.13% | 11/01/30 | 2.23% | 94.59 | 92.53 | 7 |
| 9 | NWSZF 4.25 6/27/2029 | 4.25% | 06/27/29 | 2.08% | 88.40 | 86.61 | 14 |
| 10 | ACENPM 4 PERP | 4.00% | NULL | 1.89% | 67.22 | 65.97 | 15 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 2/28/25 – 3/7/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | -9.33% | 50.61 | 55.82 | 14 |
| 2 | PLD 1.5 9/10/2049 | 1.50% | 09/10/49 | -9.32% | 57.22 | 63.10 | 17 |
| 3 | ANNGR 1.625 9/1/2051 | 1.63% | 09/01/51 | -8.58% | 55.56 | 60.77 | 20 |
| 4 | ORAFP 1.375 9/4/2049 | 1.38% | 09/04/49 | -8.18% | 62.71 | 68.30 | 19 |
| 5 | SLOVGB 2.25 6/12/2068 | 2.25% | 06/12/68 | -8.17% | 62.13 | 67.66 | 7 |
| 6 | EFSF 0.7 1/17/2053 | 0.70% | 01/17/53 | -8.02% | 50.18 | 54.55 | 6 |
| 7 | EU 0.7 7/6/2051 | 0.70% | 07/06/51 | -7.99% | 50.39 | 54.77 | 12 |
| 8 | DBHNGR 1.125 5/29/2051 | 1.13% | 05/29/51 | -7.83% | 56.21 | 60.99 | 14 |
| 9 | URWFP 1.75 7/1/2049 | 1.75% | 07/01/49 | -7.77% | 58.42 | 63.34 | 18 |
| 10 | RTEFRA 1.125 9/9/2049 | 1.13% | 09/09/49 | -7.75% | 54.39 | 58.96 | 17 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 2/28/25 – 3/7/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | -12 bps | 4.61% | 4.73% |
| 2 | Utilities: Water | -9 bps | 4.93% | 5.01% |
| 3 | Banking | 3 bps | 4.39% | 4.36% |
| 4 | Environmental Industries | 3 bps | 4.65% | 4.62% |
| 5 | Containers, Packaging, & Glass | 5 bps | 4.74% | 4.70% |
| 6 | Retail | 5 bps | 4.87% | 4.82% |
| 7 | Services: Consumer | 5 bps | 5.03% | 4.98% |
| 8 | Transportation: Cargo | 6 bps | 4.76% | 4.70% |
| 9 | Media: Broadcasting & Subscription | 6 bps | 4.57% | 4.51% |
| 10 | Utilities: Oil & Gas | 7 bps | 4.65% | 4.58% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 2/28/25 – 3/7/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Capital Equipment | 23 bps | 4.18% | 3.95% |
| 2 | Construction & Building | 22 bps | 4.47% | 4.24% |
| 3 | Consumer Goods: Non-Durable | 20 bps | 4.49% | 4.29% |
| 4 | Media: Advertising, Printing & Publishing | 20 bps | 5.72% | 5.52% |
| 5 | Transportation: Consumer | 19 bps | 4.88% | 4.70% |
| 6 | Energy: Electricity | 18 bps | 4.23% | 4.05% |
| 7 | Aerospace & Defense | 18 bps | 5.11% | 4.93% |
| 8 | Insurance | 18 bps | 4.72% | 4.55% |
| 9 | Utilities: Electric | 17 bps | 4.55% | 4.38% |
| 10 | Sovereign & Public Finance | 16 bps | 4.03% | 3.87% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/28/25 – 3/7/25 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 2/28/25 – 3/7/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/28/25 vs. the week ending 3/7/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | SUMITR 5.2 3/7/2029 144A | 5.20% | 03/07/29 | 104 | 255 | 151 | 145% |
| 2 | NSANY 2 3/9/2026 144A | 2.00% | 03/09/26 | 206 | 274 | 68 | 33% |
| 3 | UNH 4.25 3/15/2043 | 4.25% | 03/15/43 | 139 | 203 | 64 | 46% |
| 4 | NSANY 2.75 3/9/2028 144A | 2.75% | 03/09/28 | 222 | 283 | 61 | 27% |
| 5 | FTSCN 5.9 4/15/2055 | 5.90% | 04/15/55 | 208 | 269 | 61 | 29% |
| 6 | BK 6.474 10/25/2034 | 6.20% | 10/25/34 | 180 | 238 | 58 | 32% |
| 7 | NSANY 4.345 9/17/2027 REGS | 4.35% | 09/17/27 | 266 | 324 | 58 | 22% |
| 8 | NSANY 4.345 9/17/2027 144A | 4.35% | 09/17/27 | 177 | 231 | 54 | 31% |
| 9 | OKE 6.625 9/1/2053 | 6.63% | 09/01/53 | 240 | 294 | 54 | 23% |
| 10 | EXC 5.875 3/15/2055 | 5.88% | 03/15/55 | 219 | 271 | 52 | 24% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/28/25 – 3/7/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NEE 5.9 3/15/2055 | 5.90% | 03/15/55 | 39 |
| 2 | NEE 5.45 3/15/2035 | 5.45% | 03/15/35 | 38 |
| 3 | PEP 5 2/7/2035 | 5.00% | 02/07/35 | 38 |
| 4 | NEE 5.3 6/15/2034 | 5.30% | 06/15/34 | 38 |
| 5 | NEE 5.7 3/15/2055 | 5.70% | 03/15/55 | 37 |
| 6 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 36 |
| 7 | CE 6.33 7/15/2029 | 6.58% | 07/15/29 | 36 |
| 8 | HSBC 6.95 PERP | 7.56% | NULL | 36 |
| 9 | AVGO 5.2 4/15/2032 | 5.20% | 04/15/32 | 35 |
| 10 | NEE 5.05 3/15/2030 | 5.05% | 03/15/30 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/28/25 – 3/7/25 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 2/28/25 – 3/7/25
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