Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 12/11/20
Our newsletter presents key trends derived from observable High Yield Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 12/4/20 – 12/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CPE 6.375 7/1/2026 | 6.38% | 07/01/26 | 31.70% | 50.26 | 38.16 |
| 2 | RIG 7.5 1/15/2026 144A | 7.50% | 01/15/26 | 25.63% | 40.49 | 32.23 |
| 3 | PRTY 6.125 8/15/2023 | 6.13% | 08/15/23 | 25.06% | 75.13 | 60.08 |
| 4 | NGL 7.5 4/15/2026 | 7.50% | 04/15/26 | 23.12% | 54.81 | 44.52 |
| 5 | SM 6.75 9/15/2026 | 6.75% | 09/15/26 | 22.74% | 75.60 | 61.59 |
| 6 | BTECN 8.75 4/1/2027 | 8.75% | 04/01/27 | 19.57% | 59.47 | 49.73 |
| 7 | LATAIR 6.875 4/11/2024 | 6.88% | 04/11/24 | 17.64% | 57.18 | 48.60 |
| 8 | CENREP 6.875 4/1/2027 144A | 6.88% | 04/01/27 | 17.18% | 70.81 | 60.43 |
| 9 | LPI 9.5 1/15/2025 | 9.50% | 01/15/25 | 16.62% | 83.10 | 71.26 |
| 10 | HTZ 7.125 8/1/2026 144A | 7.13% | 08/01/26 | 14.75% | 51.50 | 44.88 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 12/4/20 – 12/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | AMC 10.5 4/15/2025 144A | 10.50% | 04/15/25 | -8.39% | 68.44 | 74.70 |
| 2 | ACBCN 5.5 2/28/2024 | 5.50% | 02/28/24 | -5.78% | 75.29 | 79.91 |
| 3 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | -5.58% | 59.88 | 63.43 |
| 4 | CHFOTN 8.6 4/8/2024 | 8.60% | 04/08/24 | -5.14% | 85.83 | 90.48 |
| 5 | EUROCA 4.125 11/15/2024 REGS | 4.13% | 11/15/24 | -4.81% | 63.42 | 66.63 |
| 6 | FTR 7.125 1/15/2023 | 7.13% | 01/15/23 | -4.48% | 44.00 | 46.06 |
| 7 | ALPHSA 9 2/10/2025 REGS | 9.00% | 02/10/25 | -3.98% | 75.54 | 78.67 |
| 8 | MUFJIN 0 12/15/2050 | 3.97% | 12/15/50 | -3.94% | 50.45 | 52.52 |
| 9 | PYXHLD 10 8/24/2024 | 10.00% | 08/24/24 | -3.54% | 79.47 | 82.39 |
| 10 | MONTE 8.5 9/10/2030 | 8.50% | 09/10/30 | -3.49% | 99.95 | 103.56 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/4/20 – 12/11/20
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 12/4/20 – 12/11/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/4/20 vs. the week ending 12/11/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | LUMN 5.125 12/15/2026 REGS | 5.13% | 12/15/26 | 69 | 223 | 154 | 223% |
| 2 | RCL 10.875 6/1/2023 REGS | 10.88% | 06/01/23 | 3 | 156 | 153 | 5100% |
| 3 | DISH 7.375 7/1/2028 | 7.38% | 07/01/28 | 70 | 213 | 143 | 204% |
| 4 | RCL 11.5 6/1/2025 REGS | 11.50% | 06/01/25 | 8 | 140 | 132 | 1650% |
| 5 | ARNC 6.125 2/15/2028 REGS | 6.13% | 02/15/28 | 5 | 135 | 130 | 2600% |
| 6 | AVNT 5.75 5/15/2025 REGS | 5.75% | 05/15/25 | 5 | 113 | 108 | 2160% |
| 7 | NGLS 5.5 3/1/2030 | 5.50% | 03/01/30 | 62 | 159 | 97 | 156% |
| 8 | CYH 9.875 6/30/2023 REGS | 9.88% | 06/30/23 | 38 | 134 | 96 | 253% |
| 9 | MTCHII 4.625 6/1/2028 REGS | 4.63% | 06/01/28 | 33 | 128 | 95 | 288% |
| 10 | ORBIA 4 10/4/2027 REGS | 4.00% | 10/04/27 | 51 | 146 | 95 | 186% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/4/20 – 12/11/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 34 |
| 2 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 33 |
| 3 | PETBRA 6.875 1/20/2040 | 6.88% | 01/20/40 | 33 |
| 4 | PETBRA 7.375 1/17/2027 | 7.38% | 01/17/27 | 32 |
| 5 | DSPORT 5.375 8/15/2026 144A | 5.38% | 08/15/26 | 32 |
| 6 | RIG 7.5 4/15/2031 | 7.50% | 04/15/31 | 32 |
| 7 | PETBRA 6.85 6/5/2015 | 6.85% | 06/05/15 | 32 |
| 8 | RAX 8.625 11/15/2024 | 8.63% | 11/15/24 | 31 |
| 9 | AR 5.375 11/1/2021 | 5.38% | 11/01/21 | 31 |
| 10 | PETBRA 5.75 2/1/2029 | 5.75% | 02/01/29 | 31 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 12/4/20 – 12/11/20
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 12/4/20 – 12/11/20
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