Investment Grade Corporate Bond Market Summary – Week Ending 4/4/25
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Investment Grade Corporate Bond Market Summary: Week Ending 4/4/25
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 4/4/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Municipality Finance PLC (USD) 4.25% 4/1/2030 | Senior Notes | 1000 | 100 | 4.25 | 18 |
| Korea National Oil Corp. (USD) 4.75% 3/31/2030 | Senior Notes | 300 | 98.811 | 4.79 | 70 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 3/28/25 – 4/4/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | UNP 4.375 11/15/2065 | 4.38% | 11/15/65 | 5.37% | 79.31 | 75.26 | 8 |
| 2 | TEMASE 2.5 10/6/2070 144A | 2.50% | 10/06/70 | 5.07% | 60.25 | 57.34 | 6 |
| 3 | EDF 5.25 10/13/2055 144A | 5.25% | 10/13/55 | 4.54% | 89.71 | 85.82 | 4 |
| 4 | ONEAM 4.25 10/15/2050 144A | 4.25% | 10/15/50 | 4.32% | 78.48 | 75.23 | 8 |
| 5 | PTTEPT 3.903 12/6/2059 REGS | 3.90% | 12/06/59 | 4.11% | 75.83 | 72.83 | 15 |
| 6 | CMCSA 2.65 8/15/2062 | 2.65% | 08/15/62 | 3.80% | 53.51 | 51.55 | 24 |
| 7 | CHINA 2.75 12/3/2039 | 2.75% | 12/03/39 | 3.77% | 87.00 | 83.83 | 9 |
| 8 | HKINTL 2.375 2/2/2051 REGS | 2.38% | 02/02/51 | 3.71% | 65.19 | 62.86 | 15 |
| 9 | YALUNI 2.402 4/15/2050 | 2.40% | 04/15/50 | 3.71% | 61.12 | 58.93 | 6 |
| 10 | LLY 2.5 9/15/2060 | 2.50% | 09/15/60 | 3.66% | 56.17 | 54.18 | 20 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 3/28/25 – 4/4/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | KSS 4.625 5/1/2031 | 4.63% | 05/01/31 | -8.69% | 64.81 | 70.98 | 25 |
| 2 | SAVE 11 3/6/2030 144A | 11.00% | 03/12/30 | -7.82% | 84.38 | 91.53 | 18 |
| 3 | AAWW 8.5 2/15/2030 144A | 8.50% | 02/15/30 | -7.13% | 93.06 | 100.21 | 20 |
| 4 | JBLU 9.875 9/20/2031 144A | 9.88% | 09/20/31 | -6.40% | 92.70 | 99.04 | 30 |
| 5 | OB 10 2/15/2030 144A | 10.00% | 02/15/30 | -5.97% | 81.88 | 87.08 | 20 |
| 6 | VFC 6 10/15/2033 144A | 6.00% | 10/15/33 | -5.90% | 89.53 | 95.15 | 14 |
| 7 | W 7.75 9/15/2030 144A | 7.75% | 09/15/30 | -5.23% | 92.48 | 97.58 | 24 |
| 8 | PETRPE 5.625 6/19/2047 REGS | 5.63% | 06/19/47 | -5.17% | 59.70 | 62.95 | 21 |
| 9 | HPP 3.25 1/15/2030 | 3.25% | 01/15/30 | -3.74% | 67.01 | 69.61 | 22 |
| 10 | NGGLN 1.541 12/1/2053 | 1.54% | 12/01/53 | -3.70% | 64.45 | 66.93 | 7 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 3/28/25 – 4/4/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | -65 bps | 4.15% | 4.80% |
| 2 | Wholesale | -42 bps | 5.40% | 5.82% |
| 3 | Utilities: Water | -39 bps | 4.84% | 5.24% |
| 4 | Finance | -39 bps | 5.06% | 5.45% |
| 5 | Consumer Goods: Durable | -39 bps | 3.79% | 4.19% |
| 6 | Beverage, Food & Tobacco | -34 bps | 3.76% | 4.10% |
| 7 | Services: Business | -30 bps | 3.79% | 4.09% |
| 8 | Environmental Industries | -28 bps | 4.36% | 4.63% |
| 9 | Forest Products & Paper | -28 bps | 4.16% | 4.43% |
| 10 | Construction & Building | -26 bps | 4.18% | 4.44% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 3/28/25 – 4/4/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | 31 bps | 6.95% | 6.64% |
| 2 | Insurance | 3 bps | 4.70% | 4.66% |
| 3 | Services: Consumer | 3 bps | 5.08% | 5.05% |
| 4 | Energy: Electricity | 2 bps | 4.16% | 4.13% |
| 5 | Aerospace & Defense | 1 bps | 5.14% | 5.13% |
| 6 | Retail | 0 bps | 4.95% | 4.95% |
| 7 | Sovereign & Public Finance | 0 bps | 3.78% | 3.78% |
| 8 | Chemicals, Plastics & Rubber | -1 bps | 4.97% | 4.98% |
| 9 | Consumer Goods: Non-Durable | -8 bps | 4.52% | 4.60% |
| 10 | Banking | -10 bps | 4.30% | 4.40% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 3/28/25 – 4/4/25 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 3/28/25 – 4/4/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 3/28/25 vs. the week ending 4/4/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BNP 5.738 2/20/2035 REGS | 6.27% | 02/20/35 | 152 | 265 | 113 | 74% |
| 2 | BABA 5.25 5/26/2035 REGS | 5.25% | 05/26/35 | 150 | 252 | 102 | 68% |
| 3 | BABA 4.875 5/26/2030 REGS | 4.88% | 05/26/30 | 132 | 223 | 91 | 69% |
| 4 | BMW 4.65 3/19/2027 REGS | 4.65% | 03/19/27 | 73 | 148 | 75 | 103% |
| 5 | SOCGEN 6.446 1/10/2029 144A | 6.45% | 01/10/29 | 160 | 234 | 74 | 46% |
| 6 | MET 6.4 12/15/2036 | 6.40% | 12/15/36 | 120 | 186 | 66 | 55% |
| 7 | BERMUD 2.375 8/20/2030 REGS | 2.38% | 08/20/30 | 40 | 106 | 66 | 165% |
| 8 | BERMUD 3.375 8/20/2050 REGS | 3.38% | 08/20/50 | 40 | 106 | 66 | 165% |
| 9 | BERMUD 4.75 2/15/2029 REGS | 4.75% | 02/15/29 | 50 | 110 | 60 | 120% |
| 10 | BK 6.474 10/25/2034 | 6.24% | 10/25/34 | 188 | 248 | 60 | 32% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 3/28/25 – 4/4/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MARS 5.2 3/1/2035 144A | 5.20% | 03/01/35 | 42 |
| 2 | MARS 5.8 5/1/2065 144A | 5.80% | 05/01/65 | 40 |
| 3 | MARS 5.7 5/1/2055 144A | 5.70% | 05/01/55 | 40 |
| 4 | MARS 5.65 5/1/2045 144A | 5.65% | 05/01/45 | 40 |
| 5 | MARS 4.8 3/1/2030 144A | 4.80% | 03/01/30 | 39 |
| 6 | WM 4.95 3/15/2035 | 4.95% | 03/15/35 | 38 |
| 7 | MARS 5 3/1/2032 144A | 5.00% | 03/01/32 | 37 |
| 8 | NEE 5.45 3/15/2035 | 5.45% | 03/15/35 | 37 |
| 9 | BAC 5.511 1/24/2036 | 5.70% | 01/24/36 | 37 |
| 10 | D 5.45 3/15/2035 | 5.45% | 03/15/35 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 3/28/25 – 4/4/25 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 3/28/25 – 4/4/25
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