Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 4/17/25

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 4/17/25, issue size of $50 million and larger

 

 

 

 

 

 

 

 

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PRC AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
JPMorgan Chase & Co. (USD) 5.572% 4/22/2036 Fix-To-Floating Rate Notes 3500 100 5.57 120
Morgan Stanley (USD) 5.192% 4/17/2031 Senior Notes 2500 100 5.19  
HP Inc. (USD) 6.1% 4/25/2035 Senior Notes 500 99.778 6.13 175

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 4/11/25 – 4/17/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 WBA 4.65 6/1/2046 4.65% 06/01/46 7.15% 90.18 84.16 22
2 LNGFOR 4.5 1/16/2028 4.50% 01/16/28 6.57% 87.93 82.51 18
3 VNKRLE 3.5 11/12/2029 3.50% 11/12/29 6.44% 61.63 57.90 18
4 ADSEZ 3.828 2/2/2032 REGS 3.83% 02/02/32 5.96% 80.87 76.32 25
5 FMC 6.375 5/18/2053 6.38% 05/18/53 5.53% 90.50 85.76 18
6 COP 5.7 9/15/2063 5.70% 09/15/63 5.30% 93.80 89.08 23
7 ROMANI 2.75 4/14/2041 REGS 2.75% 04/14/41 4.83% 60.01 57.24 19
8 FANG 6.25 3/15/2053 6.25% 03/15/53 4.63% 95.79 91.55 27
9 TTEFP 5.638 4/5/2064 5.64% 04/05/64 4.44% 94.48 90.47 23
10 MASSMU 5.375 12/1/2041 144A 5.38% 12/01/41 4.44% 90.31 86.47 12

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 4/11/25 – 4/17/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK BOND NAME COUPON MATURITY CHANGE PRC PRC-1W DEALERS
1 KSS 4.625 5/1/2031 4.63% 05/01/31 -8.97% 58.76 64.55 22
2 HALDOR 6.75 5/23/2024 6.75% 05/23/24 -5.62% 96.76 102.52 5
3 ORBIA 5.5 1/15/2048 REGS 5.50% 01/15/48 -2.57% 75.51 77.50 19
4 VFC 6.45 11/1/2037 6.45% 11/01/37 -2.33% 79.19 81.08 16
5 CERVIM 6 2/15/2029 REGS 6.00% 02/15/29 -2.16% 88.62 90.57 17
6 THAMES 4.625 6/4/2046 4.63% 06/04/46 -2.08% 70.91 72.42 17
7 MEXCAT 5.5 7/31/2047 REGS 5.50% 07/31/47 -1.93% 75.56 77.04 14
8 TRTN 3.25 3/15/2032 3.25% 03/15/32 -1.66% 82.67 84.06 15
9 RAIZBZ 6.95 3/5/2054 REGS 6.95% 03/05/54 -1.62% 90.33 91.81 24
10 WAL 3 6/15/2031 3.00% 06/15/31 -1.40% 90.44 91.72 9

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 4/11/25 – 4/17/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Finance -130 bps 4.25% 5.56%
2 High Tech Industries -128 bps 3.70% 4.98%
3 Services: Business -125 bps 2.94% 4.19%
4 Hotel, Gaming & Leisure -125 bps 3.89% 5.13%
5 Consumer Goods: Durable -124 bps 2.94% 4.17%
6 Wholesale -121 bps 4.54% 5.75%
7 Telecommunications -105 bps 3.66% 4.71%
8 Utilities: Water -101 bps 4.36% 5.37%
9 Banking -95 bps 3.63% 4.58%
10 Beverage, Food & Tobacco -75 bps 3.49% 4.24%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 4/11/25 – 4/17/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK INDUSTRY CHANGE YLD YLD-1W
1 Construction & Building 91 bps 5.44% 4.53%
2 Energy: Electricity 90 bps 5.20% 4.30%
3 Chemicals, Plastics & Rubber 53 bps 5.96% 5.43%
4 Aerospace & Defense 46 bps 6.17% 5.71%
5 Utilities: Oil & Gas 43 bps 5.21% 4.79%
6 Automotive 41 bps 5.46% 5.06%
7 Utilities: Electric 39 bps 5.10% 4.71%
8 Capital Equipment 27 bps 4.76% 4.49%
9 Transportation: Cargo 11 bps 5.33% 5.22%
10 Media: Broadcasting & Subscription 9 bps 4.81% 4.73%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 4/11/25 – 4/17/25

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 4/11/25 – 4/17/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/11/25 vs. the week ending 4/17/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BA 6.528 5/1/2034 6.53% 05/01/34 106 208 102 96%
2 MIZUHO 10/20/2025 144A 4.35% 10/20/25 117 188 71 61%
3 BA 6.388 5/1/2031 6.39% 05/01/31 81 149 68 84%
4 SOCGEN 3 10/15/2030 3.00% 10/15/30 2 70 68 3400%
5 BNS FLT 7/26/2028 144A 5.14% 07/26/28 5 70 65 1300%
6 AVGO 4.55 2/15/2032 4.55% 02/15/32 215 272 57 27%
7 SOCGEN 4.75 11/28/2025 4.75% 11/28/25 16 70 54 338%
8 PYPL 2.85 10/1/2029 2.85% 10/01/29 200 253 53 27%
9 BRKHEC 11/1/2043 4.80% 11/01/43 52 104 52 100%
10 VZ 1.5 9/19/2039 1.50% 09/19/39 142 192 50 35%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 4/11/25 – 4/17/25

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RANK TRANCHE COUPON MATURITY DEALERS
1 MARS 5.2 3/1/2035 144A 5.20% 03/01/35 39
2 JPM 5.502 1/24/2036 5.63% 01/24/36 39
3 MARS 5.65 5/1/2045 144A 5.65% 05/01/45 38
4 GS 5.536 1/28/2036 5.69% 01/28/36 37
5 HSBC 8 PERP 8.00% 09/07/99 36
6 MARS 5.7 5/1/2055 144A 5.70% 05/01/55 36
7 T 5.4 2/15/2034 5.40% 02/15/34 35
8 BAC 5.511 1/24/2036 5.62% 01/24/36 35
9 RY 5.15 2/1/2034 5.15% 02/01/34 35
10 NEE 5.9 3/15/2055 5.90% 03/15/55 35

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 4/11/25 – 4/17/25

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 4/11/25 – 4/17/25

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