Investment Grade Corporate Bond Market Summary – Week Ending 1/22/21
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Investment Grade Corporate Bond Market Summary: Week Ending 1/22/21
Our newsletter presents key trends derived from observable Investment Grade Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 1/15/21 – 1/22/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BJHAIG 4.3 10/8/2022 | 4.30% | 10/08/22 | 20.37% | 71.77 | 59.63 |
| 2 | ARNDTN 1.625 1/31/2028 | 1.63% | 01/31/28 | 9.15% | 107.09 | 98.12 |
| 3 | GULFNG 5.95 10/15/2045 | 5.95% | 10/15/45 | 7.57% | 132.08 | 122.79 |
| 4 | SNMCN 12 7/5/2023 | 12.00% | 07/05/23 | 7.19% | 85.03 | 79.32 |
| 5 | TUFTS 4.005 8/15/2057 | 4.01% | 08/15/57 | 6.09% | 115.20 | 108.59 |
| 6 | CNPFP 0 PERP | 0.00% | 06/29/49 | 5.12% | 82.57 | 78.55 |
| 7 | PTTTB 3.7 7/16/2070 REGS | 3.70% | 07/16/70 | 5.04% | 104.69 | 99.67 |
| 8 | BABA 4.4 12/6/2057 | 4.40% | 12/06/57 | 4.26% | 123.96 | 118.90 |
| 9 | PTTEPT 3.903 12/6/2059 REGS | 3.90% | 12/06/59 | 4.19% | 111.64 | 107.15 |
| 10 | HA 3.9 1/15/2026 | 3.90% | 01/15/26 | 3.96% | 92.91 | 89.37 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/15/21 – 1/22/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | COLPLN 8.375 11/1/2030 | 8.38% | 11/01/30 | -4.68% | 143.40 | 150.45 |
| 2 | BRKHEC 4.875 9/30/2039 | 4.88% | 09/30/39 | -3.62% | 106.98 | 111.00 |
| 3 | BAC 4.25 10/22/2026 | 4.25% | 10/22/26 | -3.46% | 115.92 | 120.07 |
| 4 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | -3.32% | 62.00 | 64.13 |
| 5 | ALVGR 5.375 PERP | 5.38% | 03/29/49 | -2.91% | 100.37 | 103.38 |
| 6 | NGGLN 1.823 5/26/2056 | 1.82% | 05/26/56 | -2.59% | 204.75 | 210.19 |
| 7 | GLJGR 0.957 1/28/2022 | 0.96% | 01/28/22 | -2.47% | 89.20 | 91.46 |
| 8 | RWE 3.5 10/26/2037 | 3.50% | 10/26/37 | -2.47% | 126.05 | 129.23 |
| 9 | BABLN 1.375 9/13/2027 | 1.38% | 09/13/27 | -2.41% | 101.50 | 104.01 |
| 10 | HTHROW 1.238 3/22/2040 A | 1.24% | 03/22/40 | -2.28% | 128.53 | 131.52 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/15/21 – 1/22/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -38 bps | -1.82% | -1.43% |
| 2 | Media: Diversified & Production | -34 bps | 0.85% | 1.19% |
| 3 | Construction & Building | -21 bps | 0.55% | 0.76% |
| 4 | Capital Equipment | -15 bps | 0.23% | 0.38% |
| 5 | Hotel, Gaming & Leisure | -12 bps | 2.30% | 2.41% |
| 6 | Chemicals, Plastics & Rubber | -11 bps | 1.18% | 1.30% |
| 7 | Transportation: Cargo | -10 bps | 0.61% | 0.71% |
| 8 | Forest Products & Paper | -8 bps | 0.83% | 0.90% |
| 9 | Consumer Goods: Non-Durable | -7 bps | 0.69% | 0.75% |
| 10 | Environmental Industries | -5 bps | 0.73% | 0.78% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/15/21 – 1/22/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | 75 bps | 12.32% | 11.57% |
| 2 | Sovereign & Public Finance | 62 bps | 1.07% | 0.45% |
| 3 | Utilities: Water | 28 bps | 1.16% | 0.88% |
| 4 | Wholesale | 25 bps | 2.05% | 1.81% |
| 5 | Metals & Mining | 18 bps | 6.80% | 6.61% |
| 6 | Services: Business | 17 bps | 0.81% | 0.64% |
| 7 | Aerospace & Defense | 16 bps | 1.67% | 1.51% |
| 8 | Finance | 16 bps | 1.24% | 1.09% |
| 9 | Banking | 13 bps | 1.07% | 0.94% |
| 10 | Real Estate | 7 bps | 1.46% | 1.39% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/15/21 – 1/22/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 1/15/21 – 1/22/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/15/21 vs. the week ending 1/22/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CCI 3.8 2/15/2028 | 3.80% | 02/15/28 | 182 | 238 | 56 | 31% |
| 2 | CVX 3.85 1/15/2028 | 3.85% | 01/15/28 | 61 | 116 | 55 | 90% |
| 3 | CCI 4.75 5/15/2047 | 4.75% | 05/15/47 | 142 | 194 | 52 | 37% |
| 4 | ARCC 2.15 7/15/2026 | 2.15% | 07/15/26 | 126 | 178 | 52 | 41% |
| 5 | EOG 3.15 4/1/2025 | 3.15% | 04/01/25 | 121 | 169 | 48 | 40% |
| 6 | BOAD 5 7/27/2027 REGS | 5.00% | 07/27/27 | 143 | 190 | 47 | 33% |
| 7 | SIASP 3.13 11/17/2026 | 3.13% | 11/17/26 | 4 | 50 | 46 | 1150% |
| 8 | CCI 4.3 2/15/2029 | 4.30% | 02/15/29 | 132 | 178 | 46 | 35% |
| 9 | CCI 4.15 7/1/2050 | 4.15% | 07/01/50 | 193 | 239 | 46 | 24% |
| 10 | BHI 4.08 12/15/2047 | 4.08% | 12/15/47 | 172 | 217 | 45 | 26% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/15/21 – 1/22/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | XOM 3.482 3/19/2030 | 3.48% | 03/19/30 | 33 |
| 2 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 33 |
| 3 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 32 |
| 4 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 32 |
| 5 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 32 |
| 6 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 32 |
| 7 | JNJ 1.3 9/1/2030 | 1.30% | 09/01/30 | 31 |
| 8 | TORONTO DOMINION BK SR MEDIUM | 0.75% | 01/06/26 | 31 |
| 9 | BABA 3.4 12/6/2027 | 3.40% | 12/06/27 | 31 |
| 10 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 31 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/15/21 – 1/22/21 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 1/15/21 – 1/22/21
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