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