Investment Grade Corporate Bond Market Summary – Week Ending 8/15/25
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Investment Grade Corporate Bond Market Summary: Week Ending 8/15/25
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 8/15/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Toyota Motor Credit Corp. (USD) FLT% 8/18/2026 | Senior Notes | 1500 | 100 | – | – |
| CVS Health Corp (USD) 5.45% 9/15/2035 | Senior Notes | 1500 | 99.97 | 5.45 | 117 |
| EMD Finance LLC (USD) 5% 10/15/2035 144A | Senior Notes | 1250 | 100 | – | 78 |
| Energy Transfer LP (USD) 6.5% 2/15/2056 | Junior Subordinated Notes | 1250 | 100 | 6.5 | – |
| Chevron USA Inc. (USD) 4.5% 10/15/2032 | Senior Notes | 1250 | 99.698 | 4.55 | 52 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 8/8/25 – 8/15/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PFGLN 8.875 1/13/2032 | 8.88% | 13-01-2032 | 4.00% | 98.86 | 95.09 | 15 |
| 2 | PANAMA 3.87 7/23/2060 | 3.87% | 23-07-2060 | 3.70% | 60.95 | 58.76 | 17 |
| 3 | GYCGR 6.332 PERP | 6.33% | NULL | 3.50% | 86.45 | 83.49 | 13 |
| 4 | INTC 3.25 11/15/2049 | 3.25% | 15-11-2049 | 3.40% | 63.85 | 61.74 | 24 |
| 5 | KSS 5.55 7/17/2045 | 5.55% | 17-07-2045 | 3.40% | 58.83 | 56.90 | 24 |
| 6 | CITCON 7.074 PERP | 7.07% | NULL | 3.10% | 89.15 | 86.51 | 12 |
| 7 | PENOMX 5.65 9/12/2049 REGS | 5.65% | 12/09/49 | 2.90% | 91.14 | 88.55 | 10 |
| 8 | BERMUD 3.375 8/20/2050 REGS | 3.38% | 08/20/50 | 2.53% | 68.77 | 67.07 | 8 |
| 9 | PETRPE 5.625 6/19/2047 REGS | 5.63% | 19-06-2047 | 2.40% | 68.17 | 66.55 | 17 |
| 10 | TOPTB 3.75 6/18/2050 144A | 3.75% | 06/18/50 | 2.17% | 68.01 | 66.56 | 20 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 8/8/25 – 8/15/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | OB 10 2/15/2030 144A | 10.00% | 15-02-2030 | -11.00% | 64.08 | 71.75 | 18 |
| 2 | PSUBIO FLT 9/30/2028 144A | 6.53% | 30-09-2028 | -5.00% | 80.84 | 85.14 | 15 |
| 3 | SVTLN 1.6675 8/1/2057 | 1.67% | 01/08/57 | -3.00% | 59.70 | 61.51 | 6 |
| 4 | LLY 1.125 9/14/2051 | 1.13% | 14-09-2051 | -3.00% | 53.71 | 55.35 | 15 |
| 5 | DBHNGR 1.125 5/29/2051 | 1.13% | 29-05-2051 | -2.70% | 53.45 | 54.95 | 12 |
| 6 | UU 1.585 7/12/2057 | 1.61% | 12/07/57 | -2.60% | 59.67 | 61.25 | 7 |
| 7 | KEL 1.462 8/1/2051 | NULL | 01/08/51 | -2.60% | 55.09 | 56.54 | 7 |
| 8 | LIN 1 9/30/2051 | 1.00% | 30-09-2051 | -2.50% | 51.27 | 52.60 | 13 |
| 9 | TMO 2 10/18/2051 | 2.00% | 18-10-2051 | -2.50% | 62.74 | 64.34 | 15 |
| 10 | RTEFRA 1.125 9/9/2049 | 1.13% | 09/09/49 | -2.40% | 51.96 | 53.24 | 16 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 8/8/25 – 8/15/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Business | -228 bps | 7.18% | 9.46% |
| 2 | Finance | -98 bps | 5.95% | 6.92% |
| 3 | Services: Consumer | -23 bps | 4.60% | 4.83% |
| 4 | Utilities: Water | -17 bps | 4.90% | 5.07% |
| 5 | Transportation: Cargo | -11 bps | 4.58% | 4.69% |
| 6 | Banking | -8 bps | 4.24% | 4.32% |
| 7 | Wholesale | -5 bps | 4.80% | 4.86% |
| 8 | Retail | -5 bps | 4.56% | 4.61% |
| 9 | Healthcare & Pharmaceuticals | -4 bps | 4.11% | 4.15% |
| 10 | Transportation: Consumer | -4 bps | 4.50% | 4.54% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 8/8/25 – 8/15/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 76 bps | 4.93% | 4.18% |
| 2 | Media: Advertising, Printing & Publishing | 50 bps | 6.27% | 5.77% |
| 3 | Forest Products & Paper | 10 bps | 4.03% | 3.93% |
| 4 | Aerospace & Defense | 10 bps | 5.12% | 5.02% |
| 5 | Consumer Goods: Non-Durable | 6 bps | 3.99% | 3.93% |
| 6 | High Tech Industries | 6 bps | 4.31% | 4.26% |
| 7 | Sovereign & Public Finance | 4 bps | 3.71% | 3.66% |
| 8 | Telecommunications | 3 bps | 4.27% | 4.24% |
| 9 | Hotel, Gaming & Leisure | 2 bps | 4.65% | 4.63% |
| 10 | Utilities: Oil & Gas | 1 bps | 4.39% | 4.37% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 8/8/25 – 8/15/25 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 8/8/25 – 8/15/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/8/25 vs. the week ending 8/15/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CARGIL 3.875 5/23/2049 REGS | 3.88% | 05/23/49 | 60 | 154 | 94 | 157% |
| 2 | PENSKE 6.05 8/1/2028 REGS | 6.05% | 08/01/28 | 65 | 146 | 81 | 125% |
| 3 | THAMES 2.875 5/3/2029 | 2.88% | 05/03/29 | 60 | 136 | 76 | 127% |
| 4 | FUNOTR 7.7 1/23/2032 144A | 7.70% | 01/23/32 | 48 | 120 | 72 | 150% |
| 5 | LLPLCA 6.875 2/4/2039 144A | 6.88% | 02/04/39 | 102 | 170 | 68 | 67% |
| 6 | THAMES 3.5 2/25/2030 | 3.50% | 02/25/30 | 82 | 150 | 68 | 83% |
| 7 | THAMES 4.625 6/4/2048 | 4.63% | 06/04/48 | 95 | 148 | 53 | 56% |
| 8 | FUNOTR 7.375 2/13/2034 144A | 7.38% | 02/13/34 | 65 | 115 | 50 | 77% |
| 9 | BNP 0 12/31/2025 | 1.50% | 12/31/25 | 4 | 50 | 46 | 1150% |
| 10 | UST 4.625 2/15/2055 | 4.63% | 02/15/55 | 10 | 54 | 44 | 440% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 8/8/25 – 8/15/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 38 |
| 2 | DUK 5.05 3/15/2035 | 5.05% | 03/15/35 | 37 |
| 3 | D 5.45 3/15/2035 | 5.45% | 03/15/35 | 36 |
| 4 | CVS 6.05 6/1/2054 | 6.05% | 06/01/54 | 36 |
| 5 | XEL 5.85 3/15/2055 | 5.85% | 05/15/55 | 36 |
| 6 | CVS 6.05 6/1/2054 | 6.05% | 06/01/54 | 36 |
| 7 | AVGO 4.9 7/15/2032 | 4.90% | 07/15/32 | 36 |
| 8 | XEL 5.85 5/15/2055 | 5.85% | 05/15/55 | 36 |
| 9 | GS 5.536 1/28/2036 | 5.72% | 01/28/36 | 36 |
| 10 | DUK 5.25 3/15/2035 | 5.25% | 03/15/35 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 8/8/25 – 8/15/25 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 8/8/25 – 8/15/25
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