Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 8/1/25
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 8/1/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| Sherwin Williams Co. (USD) 4.3% 8/15/2028 | Senior Notes | 500 | 99.992 | 4.3 | 47 |
| Royal Bank of Canada (USD) 4.696% 8/6/2031 | Fix-To-Floating Rate Notes | 1000 | 100 | 4.7 | 73 |
| M&T Bank Corp. (USD) 5.4% 7/30/2035 | Medium Term Notes | 750 | 100 | 5.4 | 143 |
| Deutsche Bank AG (USD) 4.95% 8/4/2031 | Fix-To-Floating Rate Notes | 1700 | 100 | 4.95 | 98 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 7/25/25 – 8/1/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | BE 3 6/1/2029 | 3.00% | 06/01/29 | 10.52% | 197.69 | 178.87 | 7 |
| 2 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | 7.25% | 54.03 | 50.38 | 13 |
| 3 | PARA 4.875 6/15/2043 | 4.88% | 06/15/43 | 5.60% | 76.39 | 72.33 | 4 |
| 4 | THAMES 5.5 2/11/2043 | 5.50% | 02/11/43 | 3.55% | 68.95 | 66.59 | 14 |
| 5 | EIX 4.5 9/1/2040 | 4.50% | 09/01/40 | 3.43% | 85.78 | 82.93 | 14 |
| 6 | BOSUNI 3.173 10/1/2050 | 3.17% | 10/01/50 | 3.22% | 66.42 | 64.35 | 4 |
| 7 | NSC 4.1 5/15/2021 | 4.10% | 05/15/21 | 3.20% | 69.46 | 67.30 | 20 |
| 8 | JCI 4.95 7/2/2064 | 4.95% | 07/02/64 | 2.95% | 85.74 | 83.28 | 17 |
| 9 | MEX 3.771 5/24/2061 | 3.77% | 05/24/61 | 2.90% | 58.85 | 57.19 | 21 |
| 10 | PCG 4.75 2/15/2044 | 4.75% | 02/15/44 | 2.89% | 82.67 | 80.34 | 14 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 7/25/25 – 8/1/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | KSS 5.55 7/17/2045 | 5.55% | 07/17/45 | -2.98% | 55.78 | 57.50 | 22 |
| 2 | BL 1 6/1/2029 | 1.00% | 06/01/29 | -2.76% | 104.40 | 107.37 | 6 |
| 3 | WHR 5.15 3/1/2043 | 5.15% | 03/01/43 | -2.35% | 84.33 | 86.35 | 18 |
| 4 | RY 1.034 1/25/2034 | 1.03% | 01/25/34 | -2.33% | 79.09 | 80.97 | 6 |
| 5 | INTC 5.9 2/10/2063 | 5.90% | 02/10/63 | -1.82% | 90.39 | 92.06 | 25 |
| 6 | BRKHEC 7.375 9/15/2055 | 7.38% | 09/15/55 | -1.67% | 102.37 | 104.11 | 20 |
| 7 | CERVIM 6 2/15/2029 REGS | 6.00% | 02/15/29 | -1.63% | 93.54 | 95.09 | 17 |
| 8 | VNO 3.4 6/1/2031 | 3.40% | 06/01/31 | -1.53% | 87.68 | 89.04 | 15 |
| 9 | PSASP 2.7 6/3/2035 | 2.70% | 06/03/35 | -1.33% | 102.45 | 103.83 | 12 |
| 10 | DTV 8.875 2/1/2030 144A | 8.88% | 02/01/30 | -1.17% | 97.59 | 98.75 | 19 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 7/25/25 – 8/1/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Aerospace & Defense | -14 bps | 4.87% | 5.01% |
| 2 | Banking | -13 bps | 4.35% | 4.48% |
| 3 | Construction & Building | -12 bps | 4.26% | 4.38% |
| 4 | Services: Consumer | -8 bps | 4.89% | 4.97% |
| 5 | Sovereign & Public Finance | -7 bps | 3.68% | 3.76% |
| 6 | Telecommunications | -7 bps | 4.28% | 4.35% |
| 7 | Automotive | -7 bps | 4.41% | 4.48% |
| 8 | Utilities: Oil & Gas | -6 bps | 4.38% | 4.44% |
| 9 | Finance | -6 bps | 5.82% | 5.88% |
| 10 | Insurance | -6 bps | 4.42% | 4.48% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 7/25/25 – 8/1/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Hotel, Gaming & Leisure | 19458 bps | 199.31% | 4.73% |
| 2 | Services: Business | 285 bps | 8.53% | 5.68% |
| 3 | Real Estate | 29 bps | 6.29% | 6.00% |
| 4 | Transportation: Consumer | 13 bps | 4.62% | 4.49% |
| 5 | Transportation: Cargo | 8 bps | 4.81% | 4.74% |
| 6 | Utilities: Water | 5 bps | 5.03% | 4.98% |
| 7 | Retail | 4 bps | 4.75% | 4.72% |
| 8 | Capital Equipment | 3 bps | 4.37% | 4.35% |
| 9 | High Tech Industries | 0 | 4.38% | 4.38% |
| 10 | Consumer Goods: Durable | -1 | 4.07% | 4.07% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 7/25/25 – 8/1/25
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 7/25/25 – 8/1/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/25/25 vs. the week ending 8/1/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | RAIZBZ 6.45 3/5/2034 144A | 6.45% | 03/05/34 | 128 | 226 | 98 | 77% |
| 2 | RAIZBZ 5.7 1/17/2035 144A | 5.70% | 01/17/35 | 131 | 223 | 92 | 70% |
| 3 | CDEL 3.625 8/1/2027 144A | 3.63% | 08/01/27 | 106 | 188 | 82 | 77% |
| 4 | JHG 5.45 9/10/2034 | 5.45% | 09/10/34 | 60 | 141 | 81 | 135% |
| 5 | AAP 5.9 3/9/2026 | 5.90% | 03/09/26 | 133 | 212 | 79 | 59% |
| 6 | DE 5.05 6/12/2034 | 5.05% | 06/12/34 | 163 | 235 | 72 | 44% |
| 7 | UBS 4.875 5/15/2045 | 4.88% | 05/15/45 | 128 | 200 | 72 | 56% |
| 8 | RAIZBZ 6.25 7/8/2032 144A | 6.25% | 07/08/32 | 134 | 203 | 69 | 51% |
| 9 | SHW 4.55 3/1/2028 | 4.55% | 03/01/28 | 141 | 207 | 66 | 47% |
| 10 | AAP 5.95 3/9/2028 | 5.95% | 03/09/28 | 151 | 213 | 62 | 41% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 7/25/25 – 8/1/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | DUK 5.25 3/15/2035 | 5.25% | 03/15/35 | 38 |
| 2 | AVGO 4.9 7/15/2032 | 4.90% | 07/15/32 | 38 |
| 3 | HSBC 8 PERP | 8.00% | 09/07/99 | 37 |
| 4 | CMCSA 5.3 6/1/2034 | 5.30% | 06/01/34 | 36 |
| 5 | UNH 5.3 6/15/2035 | 5.30% | 06/15/35 | 36 |
| 6 | AVGO 5.2 7/15/2035 | 5.20% | 07/15/35 | 36 |
| 7 | NEE 5.9 3/15/2055 | 5.90% | 03/15/55 | 36 |
| 8 | GS 5.536 1/28/2036 | 5.77% | 01/28/36 | 36 |
| 9 | T 6.05 8/15/2056 | 6.05% | 08/15/56 | 36 |
| 10 | AVGO 4.6 7/15/2030 | 4.60% | 07/15/30 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 7/25/25 – 8/1/25
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 7/25/25 – 8/1/25
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