Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 10/23/20

Our newsletter presents key trends derived from observable Investment Grade Corporate Bond pricing data over a weekly period.

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Top 10 Winners

Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 10/16/20 – 10/23/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 DNBNO 0 PERP 0.41% 08/29/49 10.82% 84.33 76.09
2 RABOBK 6.5 12/29/2049 6.50% 12/29/49 9.79% 126.53 115.25
3 NIBCAP 0  PERP 0.87% 03/29/49 8.89% 72.51 66.59
4 ROTH 0 8/29/2049 0.00% 08/29/49 8.42% 82.49 76.08
5 CMARK 0 PERP 0.00% 07/29/49 7.62% 82.82 76.96
6 AFFP 1.875 1/16/2025 1.88% 01/16/25 5.59% 72.98 69.12
7 GLJGR 0.875 10/7/2022 0.88% 10/07/22 5.42% 85.09 80.72
8 MAT 6.2 10/1/2040 6.20% 10/01/40 5.18% 103.30 98.21
9 HSBC 0 PERP 0.22% 07/29/49 4.41% 85.57 81.95
10 IAGLN 1.5 7/4/2027 1.50% 07/04/27 3.51% 73.88 71.37

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 10/16/20 – 10/23/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 USCTRJ 3.226 10/1/2020 3.23% 10/01/20 -7.33% 96.91 104.57
2 PBFENE 9.25 5/15/2025 144A 9.25% 05/15/25 -6.77% 93.30 100.07
3 TEMASE 2.5 10/6/2070 REGS 2.50% 10/06/70 -4.59% 94.91 99.48
4 UPENN 3.61 2/15/2019 3.61% 02/15/19 -4.44% 103.92 108.75
5 JHUNIV 4.083 7/1/2053 4.08% 07/01/53 -4.31% 128.62 134.41
6 MASSIN 4.678 7/1/2114 4.68% 07/01/14 -4.31% 138.23 144.45
7 PSX 4.875 11/15/2044 4.88% 11/15/44 -4.27% 111.71 116.70
8 MSINAI 3.737 7/1/2049 3.74% 07/01/49 -4.23% 100.47 104.91
9 ADVHEA 4.272 8/15/2048 4.27% 08/15/48 -4.21% 121.29 126.62
10 GOOGL 2.25 8/15/2060 2.25% 08/15/60 -4.13% 89.93 93.80

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 10/16/20 – 10/23/20

RANK NAME CHANGE YLD YLD-1W
1 Energy: Oil & Gas -51 bps 2.62% 3.13%
2 Utilities: Water -41 bps 0.57% 0.98%
3 Media: Advertising, Printing & Publishing -38 bps 0.46% 0.84%
4 Consumer Goods: Durable -33 bps 1.39% 1.72%
5 Construction & Building -22 bps 1.12% 1.34%
6 Energy: Electricity -21 bps -0.42% -0.22%
7 Retail -4 bps 1.55% 1.60%
8 Media: Diversified & Production -3 bps 1.52% 1.55%
9 Healthcare & Pharmaceuticals -2 bps 0.83% 0.84%
10 Services: Business 0 bps 0.79% 0.80%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 10/16/20 – 10/23/20

RANK NAME CHANGE YLD YLD-1W
1 Sovereign & Public Finance 48 bps 1.33% 0.85%
2 Chemicals, Plastics & Rubber 37 bps 2.07% 1.70%
3 Aerospace & Defense 36 bps 2.81% 2.46%
4 Containers, Packaging, & Glass 36 bps 1.38% 1.02%
5 Transportation: Cargo 32 bps 1.26% 0.94%
6 Hotel, Gaming & Leisure 30 bps 3.70% 3.39%
7 Transportation: Consumer 29 bps 4.17% 3.87%
8 Metals & Mining 28 bps 1.88% 1.60%
9 Environmental Industries 26 bps 1.13% 0.87%
10 Banking 21 bps 1.59% 1.38%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 10/16/20 – 10/23/20

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 10/16/20 – 10/23/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/16/20 vs. the week ending 10/23/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CMZB 6.5 PERP 6.50% 12/31/99 84 205 121 144%
2 SHBASS 4.75 PERP 4.75% 10/06/99 135 229 94 70%
3 SMCGL 7 1/28/2016 7.00% 01/28/16 26 100 74 285%
4 F 0 1/10/2022 3.53% 01/10/22 73 136 63 86%
5 PPG 5.5 11/15/2040 5.50% 11/15/40 12 60 48 400%
6 BAC 5.2 9/24/2009 5.20% 09/24/09 38 86 48 126%
7 TAISEM 1.375 9/28/2030 REGS 1.38% 09/28/30 87 135 48 55%
8 CHINA 4 10/19/2048 4.00% 10/19/48 101 147 46 46%
9 NSC 5.1 8/1/2018 5.10% 08/01/18 46 88 42 91%
10 HII 5 11/15/2025 5.00% 11/15/25 25 66 41 164%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 10/16/20 – 10/23/20

RANK TRANCHE COUPON MATURITY DEALERS
1 PETBRA 5.093 1/15/2030 REGS 5.09% 01/15/30 35
2 CCL 11.5 4/1/2023 144A 11.50% 04/01/23 35
3 PETBRA 5.6 1/3/2031 5.60% 01/03/31 35
4 PETBRA 6.9 3/19/2049 6.90% 03/19/49 34
5 F 9 4/22/2025 9.00% 04/22/25 33
6 F 8.5 4/21/2023 8.50% 04/21/23 33
7 PETBRA 7.25 3/17/2044 7.25% 03/17/44 33
8 PETBRA 6.75 6/3/2050 6.75% 06/03/50 33
9 PETBRA 5.299 1/27/2025 5.30% 01/27/25 32
10 PETBRA 6.75 1/27/2041 6.75% 01/27/41 31

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 10/16/20 – 10/23/20

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 10/16/20 – 10/23/20

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