Investment Grade Corporate Bond Market Summary – Week Ending 5/9/25
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Investment Grade Corporate Bond Market Summary: Week Ending 5/9/25
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 5/9/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Windfall Mining Group Inc (USD) 5.854% 5/13/2032 | Senior Notes | 750 | 100 | 5.85 | 175 |
| Standard Chartered PLC (USD) 5.244% 5/13/2031 | Senior Notes | 1000 | 100 | 5.24 | 135 |
| Hydro Quebec (CAD) 4% 2/15/2065 | Debentures | 500 | 90.981 | 4.49 | 95 |
| Athene Global Funding (USD) 4.83% 5/9/2028 | Notes | 600 | 100 | 4.83 | 105 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 5/2/25 – 5/9/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PCPDC 5.125 6/18/2026 | 5.13% | 06/18/26 | 4.42% | 95.87 | 91.81 | 12 |
| 2 | ETLFP 1.5 10/13/2028 | 1.50% | 10/13/28 | 4.16% | 85.72 | 82.30 | 21 |
| 3 | WHR 4.7 5/14/2032 | 4.70% | 05/14/32 | 3.59% | 88.36 | 85.30 | 22 |
| 4 | CE 6.629 7/15/2032 | 6.63% | 07/15/32 | 2.07% | 101.26 | 99.20 | 29 |
| 5 | ALVGR 2.625 PERP | 2.63% | NULL | 2.04% | 85.27 | 83.57 | 23 |
| 6 | HPP 5.95 2/15/2028 | 5.95% | 02/15/28 | 2.02% | 84.58 | 82.90 | 22 |
| 7 | AARB 9.875 PERP | 9.88% | NULL | 1.90% | 97.81 | 95.99 | 10 |
| 8 | RY 6.35 11/24/2084 | 6.35% | 11/24/84 | 1.62% | 93.42 | 91.93 | 7 |
| 9 | PRUFIN 4.875 PERP | 4.88% | NULL | 1.61% | 87.80 | 86.40 | 11 |
| 10 | GLPCHI 2.95 3/29/2026 | 2.95% | 03/29/26 | 1.52% | 93.59 | 92.18 | 16 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 5/2/25 – 5/9/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ROMANI 6 9/24/2044 REGS | 6.00% | 09/24/44 | -5.10% | 83.82 | 88.33 | 17 |
| 2 | WBD 5.3 5/15/2049 | 5.30% | 05/15/49 | -4.28% | 68.80 | 71.87 | 10 |
| 3 | FUNOTR 6.39 1/15/2050 REGS | 6.39% | 01/15/50 | -4.28% | 75.07 | 78.43 | 13 |
| 4 | TOPTB 3.5 10/17/2049 REGS | 3.50% | 10/17/49 | -3.75% | 57.18 | 59.41 | 20 |
| 5 | NGGLN 1.819 5/11/2056 | 1.82% | 05/11/56 | -3.47% | 64.44 | 66.76 | 6 |
| 6 | ARAMCO 3.5 11/24/2070 REGS | 3.50% | 11/24/70 | -3.28% | 58.03 | 60.00 | 25 |
| 7 | NSC 6 5/23/2011 | 6.00% | 05/23/11 | -3.19% | 92.68 | 95.73 | 5 |
| 8 | SWK 4 3/15/2060 | 6.64% | 03/15/60 | -3.04% | 93.24 | 96.16 | 12 |
| 9 | OKE 4.95 7/13/2047 | 4.95% | 07/13/47 | -3.04% | 78.99 | 81.46 | 21 |
| 10 | CDTFIN 2.1022 8/14/2048 | 1.55% | 08/14/48 | -3.01% | 145.89 | 150.42 | 5 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 5/2/25 – 5/9/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Utilities: Water | -16 bps | 4.91% | 5.07% |
| 2 | Media: Advertising, Printing & Publishing | -14 bps | 6.15% | 6.29% |
| 3 | Services: Consumer | -3 bps | 5.01% | 5.04% |
| 4 | Transportation: Cargo | -1 bps | 4.93% | 4.94% |
| 5 | Chemicals, Plastics & Rubber | 0 bps | 5.15% | 5.15% |
| 6 | Telecommunications | 1 bps | 4.42% | 4.41% |
| 7 | Construction & Building | 1 bps | 4.36% | 4.35% |
| 8 | Wholesale | 1 bps | 5.83% | 5.82% |
| 9 | Metals & Mining | 1 bps | 4.95% | 4.94% |
| 10 | Utilities: Electric | 2 bps | 4.53% | 4.51% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 5/2/25 – 5/9/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Finance | 38 bps | 5.85% | 5.47% |
| 2 | Sovereign & Public Finance | 23 bps | 3.79% | 3.56% |
| 3 | Media: Diversified & Production | 22 bps | 4.31% | 4.09% |
| 4 | Real Estate | 19 bps | 6.32% | 6.13% |
| 5 | Hotel, Gaming & Leisure | 18 bps | 5.00% | 4.81% |
| 6 | Transportation: Consumer | 16 bps | 5.08% | 4.92% |
| 7 | Environmental Industries | 14 bps | 4.64% | 4.50% |
| 8 | Insurance | 12 bps | 4.79% | 4.67% |
| 9 | Forest Products & Paper | 11 bps | 4.42% | 4.32% |
| 10 | Beverage, Food & Tobacco | 11 bps | 4.16% | 4.05% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 5/2/25 – 5/9/25 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 5/2/25 – 5/9/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 5/2/25 vs. the week ending 5/9/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | WHR 2.4 5/15/2031 | 2.40% | 05/15/31 | 131 | 196 | 65 | 50% |
| 2 | WHR 5.15 3/1/2043 | 5.15% | 03/01/43 | 115 | 179 | 64 | 56% |
| 3 | AAPL 4 5/10/2028 | 4.00% | 05/10/28 | 214 | 277 | 63 | 29% |
| 4 | WHR 4.5 6/1/2046 | 4.50% | 06/01/46 | 164 | 221 | 57 | 35% |
| 5 | WHR 4.6 5/15/2050 | 4.60% | 05/15/50 | 190 | 246 | 56 | 29% |
| 6 | CMI 4.9 2/20/2029 | 4.90% | 02/20/29 | 130 | 181 | 51 | 39% |
| 7 | PLD 3.25 10/1/2026 | 3.25% | 10/01/26 | 79 | 124 | 45 | 57% |
| 8 | PLD 1.625 3/15/2031 | 1.63% | 03/15/31 | 150 | 194 | 44 | 29% |
| 9 | XEL 3.4 6/1/2030 | 3.40% | 06/01/30 | 182 | 225 | 43 | 24% |
| 10 | WHR 4.7 5/14/2032 | 4.70% | 05/14/32 | 193 | 235 | 42 | 22% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 5/2/25 – 5/9/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MARS 5.2 3/1/2035 144A | 5.20% | 03/01/35 | 37 |
| 2 | MARS 5.8 5/1/2065 144A | 5.80% | 05/01/65 | 35 |
| 3 | MARS 5.7 5/1/2055 144A | 5.70% | 05/01/55 | 35 |
| 4 | MARS 5.65 5/1/2045 144A | 5.65% | 05/01/45 | 35 |
| 5 | VZ 5.25 4/2/2035 | 5.25% | 04/02/35 | 35 |
| 6 | GOOGL 4.5 5/15/2035 | 4.50% | 05/15/35 | 34 |
| 7 | JPM 5.502 1/24/2036 | 5.61% | 01/24/36 | 34 |
| 8 | CMCSA 5.3 6/1/2034 | 5.30% | 06/01/34 | 33 |
| 9 | WMB 5.6 3/15/2035 | 5.60% | 03/15/35 | 33 |
| 10 | TOYOTA 4.95 1/9/2030 | 4.95% | 01/09/30 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 5/2/25 – 5/9/25 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 5/2/25 – 5/9/25
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