Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 3/26/21
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 3/19/21 – 3/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | MTNLN 9.5 1/31/2024 REGS | 9.50% | 01/31/24 | 21.71% | 48.83 | 40.12 |
| 2 | CBL 5.95 12/15/2026 | 5.95% | 12/15/26 | 17.92% | 55.94 | 47.44 |
| 3 | BUENOS 4 5/15/2035 | 4.00% | 05/15/35 | 14.89% | 37.18 | 32.36 |
| 4 | NAVIRA 0 7/31/2023 | 5.96% | 07/31/23 | 10.81% | 60.64 | 54.73 |
| 5 | THSCPA 6.95 6/18/2022 | 6.95% | 06/18/22 | 10.34% | 81.97 | 74.29 |
| 6 | WEWORK 7.875 5/1/2025 144A | 7.88% | 05/01/25 | 8.39% | 98.68 | 91.03 |
| 7 | SRILAN 5.75 4/18/2023 REGS | 5.75% | 04/18/23 | 6.90% | 68.00 | 63.61 |
| 8 | HTZ 6 1/15/2028 144A | 6.00% | 01/15/28 | 6.13% | 95.39 | 89.88 |
| 9 | RSMACA 3.375 9/21/2022 | 3.38% | 09/21/22 | 4.48% | 84.19 | 80.58 |
| 10 | F 4.75 1/15/2043 | 4.75% | 01/15/43 | 4.40% | 99.43 | 95.24 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 3/19/21 – 3/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SRILIJ 7.25 1/16/2025 REGS | 7.25% | 01/16/25 | -49.28% | 38.41 | 75.74 |
| 2 | YUZHOU 8.5 2/26/2024 | 8.50% | 02/26/24 | -18.26% | 87.58 | 107.14 |
| 3 | TBLAIJ 7 1/24/2023 | 7.00% | 01/24/23 | -13.89% | 86.05 | 99.93 |
| 4 | PBRXIJ 7.625 1/26/2022 | 7.63% | 01/26/22 | -12.42% | 29.23 | 33.37 |
| 5 | EBRD 8 2/6/2024 | 8.00% | 02/06/24 | -10.18% | 75.60 | 84.17 |
| 6 | TURKEY 6.125 10/24/2028 | 6.13% | 10/24/28 | -9.53% | 93.82 | 103.70 |
| 7 | BTU 8.5 12/31/2024 144A | 8.50% | 12/31/24 | -8.55% | 53.64 | 58.66 |
| 8 | AKBNK 6.797 4/27/2028 REGS | 6.80% | 04/27/28 | -8.01% | 92.43 | 100.47 |
| 9 | YKBNK 7.875 1/22/2031 REGS | 7.88% | 01/22/31 | -7.74% | 97.45 | 105.62 |
| 10 | ISCTR 7.75 1/22/2030 | 7.75% | 01/22/30 | -7.27% | 95.56 | 103.04 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 3/19/21 – 3/26/21
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 3/19/21 – 3/26/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/19/21 vs. the week ending 3/26/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | UKRAIN 7.304 3/15/2033 REGS | 7.25% | 03/15/33 | 92 | 210 | 118 | 128% |
| 2 | LUMN 5.125 12/15/2026 144A | 5.13% | 12/15/26 | 83 | 178 | 95 | 114% |
| 3 | TTMTIN 5.5 6/3/2024 | 5.50% | 06/03/24 | 55 | 143 | 88 | 160% |
| 4 | OI 2.875 2/15/2025 REGS | 2.88% | 02/15/25 | 67 | 151 | 84 | 125% |
| 5 | SABSM 2 1/17/2030 | 1.85% | 01/17/30 | 90 | 173 | 83 | 92% |
| 6 | THYELE 0 7/15/2027 REGS | 4.21% | 07/15/27 | 71 | 150 | 79 | 111% |
| 7 | SEB 5.625 12/31/2049 | 4.43% | 12/31/49 | 167 | 244 | 77 | 46% |
| 8 | MAFUAE 5.5 12/31/2049 | 4.42% | 12/31/49 | 36 | 112 | 76 | 211% |
| 9 | OSCHAD 8.25 3/20/2025 | 9.63% | 03/20/25 | 54 | 130 | 76 | 141% |
| 10 | ECPG 4.875 10/15/2025 144A | 4.88% | 10/15/25 | 16 | 89 | 73 | 456% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 3/19/21 – 3/26/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | MUR 4 6/1/2022 | 4.00% | 06/01/22 | 37 |
| 2 | CAR 6.375 4/1/2024 | 6.38% | 04/01/24 | 36 |
| 3 | TROX 6.5 4/15/2026 144A | 6.50% | 04/15/26 | 34 |
| 4 | MUR 3.7 12/1/2022 | 3.70% | 12/01/22 | 34 |
| 5 | TROX 5.75 10/1/2025 144A | 5.75% | 10/01/25 | 34 |
| 6 | SBH 5.5 11/1/2023 | 5.50% | 11/01/23 | 33 |
| 7 | PETBRA 6.25 3/17/2024 | 6.25% | 03/17/24 | 33 |
| 8 | URI 4.875 1/15/2028 | 4.88% | 01/15/28 | 33 |
| 9 | CBS 7.25 11/1/2024 | 7.25% | 11/01/24 | 33 |
| 10 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 33 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 3/19/21 – 3/26/21
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 3/19/21 – 3/26/21
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