Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 5/7/21
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 4/30/21 – 5/7/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | YELLUK 8.5 5/2/2023 REGS | 8.50% | 05/02/23 | 27.59% | 54.02 | 42.33 |
| 2 | RALFP 3.25 2/8/2024 | 3.25% | 02/08/24 | 9.73% | 37.76 | 34.42 |
| 3 | ENLK 6 PERP | 6.00% | 09/21/99 | 9.29% | 74.23 | 67.92 |
| 4 | ANDRGI 9.5 12/30/2024 REGS | 9.50% | 12/30/24 | 8.55% | 61.81 | 56.94 |
| 5 | GERLSP 8 10/4/2022 REGS | 8.00% | 10/04/22 | 7.79% | 88.71 | 82.30 |
| 6 | MOBYIT 7.75 2/15/2023 | 7.75% | 02/15/23 | 7.72% | 29.93 | 27.78 |
| 7 | COFP 0 PERP | 1.14% | 01/29/49 | 7.41% | 46.50 | 43.29 |
| 8 | GLJGR 7 PERP | 7.00% | 09/27/99 | 6.78% | 97.30 | 91.13 |
| 9 | HKJHCC 7.875 6/24/2021 | 7.88% | 06/24/21 | 6.68% | 31.03 | 29.09 |
| 10 | BUENOS 9.125 3/16/2024 | 9.13% | 03/16/24 | 6.63% | 43.33 | 40.64 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 4/30/21 – 5/7/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | LATAIR 4.5 11/15/2023 | 4.50% | 11/15/23 | -19.47% | 48.16 | 59.80 |
| 2 | LGUANG 11 6/4/2022 | 11.00% | 06/04/22 | -17.95% | 54.42 | 66.33 |
| 3 | XIN 14.5 9/17/2023 | 14.50% | 09/17/23 | -15.62% | 80.00 | 94.81 |
| 4 | BCGBK 6.75 3/15/2023 | 6.75% | 03/15/23 | -11.05% | 31.13 | 35.00 |
| 5 | MNK 5.625 10/15/2023 | 5.63% | 10/15/23 | -10.06% | 60.55 | 67.33 |
| 6 | GWTH 14.25 1/9/2023 | 14.25% | 01/09/23 | -8.69% | 88.18 | 96.57 |
| 7 | ENDP 6 2/1/2025 | 6.00% | 02/01/25 | -8.50% | 75.88 | 82.92 |
| 8 | CREAL 8 1/21/2028 REGS | 8.00% | 01/21/28 | -7.53% | 89.40 | 96.67 |
| 9 | RISSUN 8 4/24/2022 | 8.00% | 04/24/22 | -5.71% | 86.09 | 91.31 |
| 10 | REITDU 5.125 12/12/2022 | 5.13% | 12/12/22 | -5.67% | 60.02 | 63.62 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/30/21 – 5/7/21
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 4/30/21 – 5/7/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/30/21 vs. the week ending 5/7/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CEQUEL 7.5 4/1/2028 144A | 7.50% | 04/01/28 | 68 | 224 | 156 | 229% |
| 2 | PCCW 3.625 4/2/2025 | 6.00% | 02/01/23 | 35 | 105 | 70 | 200% |
| 3 | KCN 5.125 9/1/2021 | 5.13% | 09/01/21 | 53 | 112 | 59 | 111% |
| 4 | CSCHLD 5.5 5/15/2026 144A | 5.50% | 05/15/26 | 244 | 302 | 58 | 24% |
| 5 | CCOI 5.375 3/1/2022 | 5.38% | 03/01/22 | 135 | 191 | 56 | 41% |
| 6 | RLTAIN 10.75 5/16/2018 | 10.75% | 05/16/18 | 30 | 85 | 55 | 183% |
| 7 | QHINVG 7.25 2/22/2020 | 7.25% | 02/22/20 | 15 | 70 | 55 | 367% |
| 8 | ENTRIO 8.75 2/8/2025 | 5.00% | 08/08/28 | 45 | 99 | 54 | 120% |
| 9 | VSAT 5.625 4/15/2027 | 5.63% | 04/15/27 | 48 | 99 | 51 | 106% |
| 10 | RAD 6.125 4/1/2023 | 6.13% | 04/01/23 | 178 | 227 | 49 | 28% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/30/21 – 5/7/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | CSCHLD 5.5 5/15/2026 144A | 5.50% | 05/15/26 | 35 |
| 2 | BECN 4.875 11/1/2025 144A | 4.88% | 11/01/25 | 35 |
| 3 | TDG 6.5 5/15/2025 | 6.50% | 05/15/25 | 35 |
| 4 | YUM 5.25 6/1/2026 | 5.25% | 06/01/26 | 34 |
| 5 | AR 5.625 6/1/2023 | 5.63% | 06/01/23 | 34 |
| 6 | GT 5.125 11/15/2023 | 5.13% | 11/15/23 | 34 |
| 7 | ARGID 6 2/15/2025 | 6.00% | 02/15/25 | 33 |
| 8 | CYH 8.125 6/30/2024 144A | 8.13% | 06/30/24 | 32 |
| 9 | ABCSUP 5.875 5/15/2026 144A | 5.88% | 05/15/26 | 32 |
| 10 | ET 3.75 5/15/2030 | 3.75% | 05/15/30 | 32 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 4/30/21 – 5/7/21
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 4/30/21 – 5/7/21
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