Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 7/23/21
Our newsletter presents key trends derived from observable 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 7/16/21 – 7/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ENDP 6 6/30/2028 144A | 6.00% | 06/30/28 | 15.37% | 69.31 | 60.07 |
| 2 | CLISA 9.5 7/20/2023 REGS | 9.50% | 07/20/23 | 12.69% | 41.39 | 36.73 |
| 3 | BUENOS 5.375 1/20/2023 | 5.38% | 01/20/23 | 11.52% | 43.65 | 39.14 |
| 4 | HBCY 10 PERP | 10.00% | 10/29/49 | 10.32% | 60.71 | 55.03 |
| 5 | HRINTH 3.8 11/7/2025 | 3.80% | 11/07/25 | 8.01% | 70.04 | 64.85 |
| 6 | MONTE 5.375 1/18/2028 | 5.38% | 01/18/28 | 6.50% | 80.84 | 75.90 |
| 7 | SNAGRP 7.5 9/11/2021 | 7.50% | 09/11/21 | 6.40% | 60.81 | 57.15 |
| 8 | SDRLNO 12 7/15/2025 144A | 12.00% | 07/15/25 | 5.18% | 56.62 | 53.83 |
| 9 | PBRXIJ 7.625 1/26/2022 | 7.63% | 01/26/22 | 4.31% | 33.90 | 32.50 |
| 10 | DLLTD 8 4/1/2025 144A | 8.00% | 04/01/25 | 3.69% | 86.74 | 83.66 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 7/16/21 – 7/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | APLNIJ 5.95 6/2/2024 | 5.95% | 06/02/24 | -26.36% | 49.79 | 67.62 |
| 2 | TIANHL 13 11/6/2022 | 13.00% | 11/06/22 | -25.13% | 55.56 | 74.21 |
| 3 | EVERRE 12 1/22/2024 | 12.00% | 01/22/24 | -21.54% | 55.01 | 70.11 |
| 4 | PBFENE 7.25 6/15/2025 | 7.25% | 06/15/25 | -15.03% | 56.95 | 67.03 |
| 5 | FTHDGR 10.875 3/2/2024 | 10.88% | 03/02/24 | -8.24% | 76.30 | 83.15 |
| 6 | ASRIIJ 6.25 11/2/2025 | 6.25% | 11/02/25 | -8.17% | 72.64 | 79.11 |
| 7 | RIG 7.35 12/15/2041 | 7.35% | 12/15/41 | -7.95% | 64.66 | 70.24 |
| 8 | AMC 6.125 5/15/2027 | 6.13% | 05/15/27 | -7.62% | 63.04 | 68.24 |
| 9 | ZHLGHD 8.5 5/19/2022 | 8.50% | 05/19/22 | -7.38% | 86.50 | 93.40 |
| 10 | RISSUN 8.95 1/18/2022 | 8.95% | 01/18/22 | -6.89% | 71.24 | 76.51 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 7/16/21 – 7/23/21
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 7/16/21 – 7/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 7/16/21 vs. the week ending 7/23/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CURO 8.25 9/1/2025 144A | 8.25% | 09/01/25 | 179 | 236 | 57 | 32% |
| 2 | ADT 3.5 7/15/2022 | 3.50% | 07/15/22 | 292 | 347 | 55 | 19% |
| 3 | OVV 3.9 11/15/2021 | 3.90% | 11/15/21 | 191 | 229 | 38 | 20% |
| 4 | F 4 11/13/2030 | 4.00% | 11/13/30 | 268 | 306 | 38 | 14% |
| 5 | FAEACO 5.1 1/21/2024 | 5.10% | 01/21/24 | 68 | 103 | 35 | 51% |
| 6 | LAD 5.25 8/1/2025 144A | 5.25% | 08/01/25 | 194 | 229 | 35 | 18% |
| 7 | NFLX 5.375 11/15/2029 144A | 5.38% | 11/15/29 | 258 | 292 | 34 | 13% |
| 8 | BHCCN 8.5 1/31/2027 144A | 8.50% | 01/31/27 | 276 | 308 | 32 | 12% |
| 9 | DFS 2.45 9/12/2024 | 2.45% | 09/12/24 | 105 | 137 | 32 | 30% |
| 10 | DFS 3.45 7/27/2026 | 3.45% | 07/27/26 | 121 | 152 | 31 | 26% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 7/16/21 – 7/23/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | SIRI 3.875 8/1/2022 144A | 3.88% | 08/01/22 | 41 |
| 2 | ADT 3.5 7/15/2022 | 3.50% | 07/15/22 | 40 |
| 3 | X 6.875 8/15/2025 | 6.88% | 08/15/25 | 40 |
| 4 | YUM 3.75 11/1/2021 | 3.75% | 11/01/21 | 36 |
| 5 | GNW 7.625 9/24/2021 | 7.63% | 09/24/21 | 36 |
| 6 | BCULC 4.25 5/15/2024 | 4.25% | 05/15/24 | 35 |
| 7 | AMC 12 6/15/2026 144A | 12.00% | 06/15/26 | 35 |
| 8 | CPE 6.25 4/15/2023 | 6.25% | 04/15/23 | 35 |
| 9 | PFGC 5.5 6/1/2024 | 5.50% | 06/01/24 | 35 |
| 10 | AAL 5 6/1/2022 144A | 5.00% | 06/01/22 | 35 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 7/16/21 – 7/23/21
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 7/16/21 – 7/23/21
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