Credit Default Swaps

GET OUR CDS MARKET SUMMARIES STRAIGHT TO YOUR INBOX.  LEARN MORE

Investment Grade CDS Market August 2024

Our newsletter presents key trends derived from observable Credit Default Swaps pricing data over a monthly period.

Top 10 Outperformers

Showcases the top 10 IG CDS “outperformers” based on the largest mid spread decreases between 8/1/24 – 8/31/24

RANK BOND NAME ISSUER % CHANGE BPS CHANGE SPRD SPRD-1 MONTH DEALERS
1 RENTOKIL 5Y RENTOKIL GROUP PLC -20.7% -15 57 72 4
2 BAX 5Y BAXTER INTL INC -20.2% -13 53 67 4
3 NOKIA 5Y NOKIA CORP -19.4% -15 64 79 5
4 BAYGR 5Y BAYER CORP -19.1% -17 72 89 4
5 BATSLN 5Y B A T INTL FIN PLC -17.8% -11 51 62 4
6 BRITEL 5Y BRITISH TELECOM FIN INC -16.5% -10 52 62 4
7 ERICB 5Y TELEFONAKTIEBOLAGET LM ERICSSON -16.1% -15 78 93 5
8 CONTI 5Y CONTI-GUMMI FIN B V -16.1% -15 79 94 4
9 CAFP 5Y CARREFOUR SA -13.5% -8 51 59 5
10 SUMICH 5Y SUMITOMO CHEMICAL CO LTD -12.7% -9 64 73 3

Top 10 Underperformers

Showcases the top 10 IG CDS “underperformers” based on the largest mid spread increases between 8/1/24 – 8/31/24

RANK BOND NAME ISSUER % CHANGE BPS CHANGE SPRD SPRD-1 MONTH DEALERS
1 NOMURA 5Y NOMURA HLDGS INC 16.9% 12 80 68 2
2 OVV 5Y OVINTIV 14.9% 12 96 83 3
3 TCKCN 5Y TECK RESOURCES LIMITED 11.9% 8 78 70 5
4 ORIX 5Y ORIX CORP 11.8% 4 37 33 3
5 DELL 5Y DELL COMPUTER CORP 10.6% 6 62 56 4
6 AIG 5Y AMERICAN INTERNATIONAL GROUP 9.9% 5 54 49 4
7 ACOMCO 5Y ACOM CO LTD 8.9% 4 45 42 3
8 RDN 5Y RADIAN GROUP INC 7.8% 7 91 84 3
9 NIPSTL 5Y SUMITOMO METAL INDUSTRIES LTD 7.7% 3 43 40 3
10 HPQ 5Y COMPAQ COMPUTER CORP 7.7% 3.9 55 51 4

Normalized IG Spread by Region

Displays the IG CDS spread by region between 8/1/24 – 8/31/24

Results are based on 5 select regions, however, we offer data across 12 regions

IG Spread by Region – Monthly Comparison

Exhibits the IG mid spread by region for the month ending 7/31/23 vs. the month ending 8/31/24

REGION PREVIOUS SPREAD CURRENT SPREAD BPS CHANGE MONTHLY PERFORMANCE CDS COUNT
Global 50 47 -3 Tighter 595
U.S. 50 48 -2 Tighter 254
Japan 33 35 2 Wider 37
Europe 48 45 -3 Tighter 153
China 65 61 -5 Tighter 9
APAC 44 45 1 Wider 39

Normalized IG Spread by Industry

Displays the IG CDS spread by industry between 8/1/24 – 8/31/24

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

IG Spread by Industries – Monthly Comparison

Exhibits the IG spread by industry for the month ending 7/31/23 vs. the month ending 8/31/24

INDUSTRIES PREVIOUS SPREAD CURRENT SPREAD BPS CHANGE MONTHLY PERFORMANCE CDS COUNT
All Industries 50 48 -2 Tighter 596.00
Construction & Building 47 47 0 Tighter 14.00
Beverage, Food & Tobacco 43 41 -1 Tighter 35.00
Healthcare & Pharmaceuticals 38 37 -1 Tighter 31.00
Retail 51 44 -7 Tighter 20.00
Telecommunications 47 45 -2 Tighter 34.00

Stay up-to-date with monthly summaries.

Stay up-to-date on the latest from Solve

Read the latest from our team

  • Credit Default Swaps

    Investment Grade CDS Market Summary – September 2024

    Our newsletter presents key trends derived from observable Credit Default Swaps pricing data over a monthly period.

  • Credit Default Swaps

    High Yield CDS Market Summary – September 2024

    Our newsletter presents key trends derived from observable Credit Default Swaps pricing data over a monthly period.