Credit Default Swaps

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

Investment Grade CDS Market july 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 7/1/24 – 7/31/24

RANK BOND NAME ISSUER % CHANGE BPS CHANGE SPRD SPRD-1 MONTH DEALERS
1 HMSOLN 5Y HAMMERSON PLC -31.3% -29 65 94 3
2 TOL 5Y TOLL BROS INC -25.6% -23 66 89 4
3 PHM 5Y CENTEX CORP -17.7% -13 60 73 4
4 LEN 5Y LENNAR CORP -17.4% -13 60 73 4
5 EDF 5Y EDF S A -16.3% -13 67 80 7
6 RDN 5Y RADIAN GROUP INC -16.2% -16 84 101 4
7 NUE 5Y NUCOR CORP -15.5% -14 76 90 2
8 ENEL 5Y ENEL SPA -15.3% -10 54 64 5
9 BAYGR 5Y BAYER CORP -14.5% -15 89 104 6
10 HOTGR 5Y HOCHTIEF AG -13.9% -14 86 100 6

Top 10 Underperformers

Showcases the top 10 IG CDS “underperformers” based on the largest mid spread increases between 7/1/24 – 7/31/24

RANK BOND NAME ISSUER % CHANGE BPS CHANGE SPRD SPRD-1 MONTH DEALERS
1 WHR 5Y MAYTAG CORP 40.2% 40 138 98 6
2 RENTOKIL 5Y RENTOKIL GROUP PLC 34.1% 18 72 53 4
3 VIVFP 5Y SEAGRAM CO LTD 16.0% 9 63 55 7
4 DELL 5Y DELL COMPUTER CORP 14.1% 7 56 49 4
5 MMBFP 5Y LAGARDERE SCA 13.8% 11 90 79 4
6 DRI 5Y DARDEN RESTAURANTS INC 11.9% 5 52 46 4
7 CMCSA 5Y AT&T BROADBAND CORP 8.5% 4 50 46 5
8 ACCOR 5Y ACCOR SA 8.1% 5 69 64 6
9 SZUGR 5Y SUEDZUCKER AG 7.7% 5 67 62 6
10 HAOHUA 5Y CNAC CENTURY HK CO LTD 7.2% 6.0 89 83 3

Normalized IG Spread by Region

Displays the IG CDS spread by region between 7/1/24 – 7/31/24

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 6/30/23 vs. the month ending 7/31/24

REGION PREVIOUS SPREAD CURRENT SPREAD BPS CHANGE MONTHLY PERFORMANCE CDS COUNT
Global 51 50 -1 Tighter 589
U.S. 51 50 -1 Tighter 250
Japan 31 33 2 Wider 38
U.K. 57 56 -1 Tighter 40
China 69 65 -4 Tighter 9
APAC 46 44 -1 Tighter 41

Normalized IG Spread by Industry

Displays the IG CDS spread by industry between 7/1/24 – 7/31/24

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 6/30/23 vs. the month ending 7/31/24

INDUSTRIES PREVIOUS SPREAD CURRENT SPREAD BPS CHANGE MONTHLY PERFORMANCE CDS COUNT
All Industries 51 50 -1 Tighter 590.00
Construction & Building 51 47 -5 Tighter 13.00
Containers, Packaging, & Glass 30 30 0 Tighter 2.00
Media: Broadcasting & Subscription 147 121 -26 Tighter 2.00
Transportation: Cargo 25 24 -1 Tighter 14.00
Services: Business 53 72 18 Wider 3.00

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.