Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 4/1/21
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 3/26/21 – 4/1/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | YUZHOU 8.5 2/4/2023 | 8.50% | 02/04/23 | 8.83% | 97.08 | 89.20 |
| 2 | EAGRUY 7.5 5/1/2025 REGS | 7.50% | 05/01/25 | 7.78% | 92.76 | 86.07 |
| 3 | HTZ 5.5 3/30/2023 REGS | 5.50% | 03/30/23 | 5.82% | 96.46 | 91.16 |
| 4 | HPR 8.75 6/15/2025 | 8.75% | 06/15/25 | 5.73% | 58.93 | 55.74 |
| 5 | RIG 3.8 10/15/2022 | 3.80% | 10/15/22 | 5.69% | 89.50 | 84.68 |
| 6 | ARWBID 9.5 3/15/2024 144A | 9.50% | 03/15/24 | 5.44% | 98.64 | 93.55 |
| 7 | MNK 5.625 10/15/2023 | 5.63% | 10/15/23 | 5.09% | 69.76 | 66.38 |
| 8 | AMC 5.75 6/15/2025 | 5.75% | 06/15/25 | 4.99% | 66.61 | 63.44 |
| 9 | NVFVES 5 6/15/2025 REGS | 5.00% | 06/15/25 | 4.37% | 93.48 | 89.57 |
| 10 | BUENOS 9.625 4/18/2028 REGS | 9.63% | 04/18/28 | 4.32% | 40.64 | 38.96 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 3/26/21 – 4/1/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | BTU 8.5 12/31/2024 144A | 8.50% | 12/31/24 | -21.70% | 42.00 | 53.64 |
| 2 | BUEAIR 0 3/29/2024 | 37.44% | 03/29/24 | -10.14% | 89.48 | 99.58 |
| 3 | ARGTES 18.2 10/3/2021 | 18.20% | 10/03/21 | -9.68% | 89.57 | 99.17 |
| 4 | ARGBAD 0 4/3/2022 | 36.19% | 04/03/22 | -8.72% | 95.20 | 104.30 |
| 5 | CHFOTN 8.75 9/28/2022 | 8.75% | 09/28/22 | -7.77% | 36.46 | 39.53 |
| 6 | YUZHOU 7.375 1/13/2026 | 7.38% | 01/13/26 | -7.54% | 87.45 | 94.58 |
| 7 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | -6.77% | 51.98 | 55.76 |
| 8 | ARGBON 0.125 7/9/2030 | 0.13% | 07/09/30 | -6.29% | 32.03 | 34.18 |
| 9 | ADAABB 4.45 12/15/2022 144A | 4.45% | 12/15/22 | -5.26% | 93.21 | 98.39 |
| 10 | CAPG 5.88 3/1/2027 | 5.88% | 03/01/27 | -4.75% | 91.26 | 95.81 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 3/26/21 – 4/1/21
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 3/26/21 – 4/1/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 3/26/21 vs. the week ending 4/1/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | RUYIGR 6.95 7/5/2022 | 6.95% | 07/05/22 | 21 | 107 | 86 | 410% |
| 2 | BAP 2.75 6/17/2025 144A | 2.75% | 06/17/25 | 23 | 102 | 79 | 343% |
| 3 | OECENG 6 10/5/2027 REGS | 6.00% | 10/05/27 | 18 | 90 | 72 | 400% |
| 4 | NASNO 7.25 11/11/2022 | 7.25% | 11/11/22 | 13 | 67 | 54 | 415% |
| 5 | TEINEN 6.875 9/30/2022 | 6.88% | 09/30/22 | 110 | 158 | 48 | 44% |
| 6 | ICBCAS 4.25 PERP | 4.25% | 12/29/49 | 95 | 137 | 42 | 44% |
| 7 | NYCB 5.9 11/6/2028 | 5.90% | 11/06/28 | 43 | 85 | 42 | 98% |
| 8 | PKICN 6 4/1/2026 144A | 6.00% | 04/01/26 | 175 | 216 | 41 | 23% |
| 9 | ABCB 4.25 12/15/2029 | 4.25% | 12/15/29 | 9 | 50 | 41 | 456% |
| 10 | PWRLNG 5.95 4/30/2025 | 5.95% | 04/30/25 | 134 | 170 | 36 | 27% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 3/26/21 – 4/1/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CAR 6.375 4/1/2024 | 6.38% | 04/01/24 | 36 |
| 2 | MUR 4 6/1/2022 | 4.00% | 06/01/22 | 35 |
| 3 | GT 5.125 11/15/2023 | 5.13% | 11/15/23 | 34 |
| 4 | MUR 3.7 12/1/2022 | 3.70% | 12/01/22 | 34 |
| 5 | TROX 6.5 4/15/2026 144A | 6.50% | 04/15/26 | 33 |
| 6 | CBS 7.25 11/1/2024 | 7.25% | 11/01/24 | 33 |
| 7 | AA 6.75 9/30/2024 | 6.75% | 09/30/24 | 32 |
| 8 | ARGID 6 2/15/2025 | 6.00% | 02/15/25 | 32 |
| 9 | TROX 5.75 10/1/2025 144A | 5.75% | 10/01/25 | 32 |
| 10 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 32 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 3/26/21 – 4/1/21
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 3/26/21 – 4/1/21
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