Corporates

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

Investment Grade Corporate Bond Market Summary:
Week Ending 10/7/22

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

New Issues

IG Corp bond new issues for the week ending 10/7/22, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PX AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
John Deere Capital Corp. (USD) 4.85% 10/11/2029 Senior Notes 400 99.912 4.86 100
John Deere Capital Corp. (USD) 4.55% 10/11/2024 Senior Notes 600 99.336 4.9 43
Dollarama Inc. (CAD) 5.165% 4/26/2030 Senior Notes 450 100 5.17 203
Dollarama Inc. (CAD) 5.084% 10/27/2025 Senior Notes 250 100 5.08 150
Cargill Inc. (USD) 5.125% 10/11/2032 Reg S Senior Notes 500 99.876 5.14 140
Cargill Inc. (USD) 5.125% 10/11/2032 144A Senior Notes 500 99.876 5.14 140
Cargill Inc. (USD) 4.875% 10/10/2025 Reg S Senior Notes 750 99.912 4.91 75
Cargill Inc. (USD) 4.875% 10/10/2025 144A Senior Notes 750 99.912 4.91 75
Southern Co. (USD) 5.7% 10/15/2032 Senior Notes 500 99.892 5.71 205
Southern Co. (USD) 5.15% 10/6/2025 Senior Notes 1000 99.786 5.23 110
Southern Co. (USD) 5.7% 10/15/2032 N/A 500 99.892 5.71 205
Realty Income Corp. (USD) 5.625% 10/13/2032 Senior Notes 750 99.879 5.64 200

Top 10 Winners

Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 9/30/22 – 10/7/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ROMANI 4 2/14/2051 144A 4.00% 02/14/51 7.81% 58.52 54.28
2 CMMCCN 8 4/9/2026 8.00% 04/09/26 6.79% 92.56 86.68
3 BMY 6.875 8/1/2097 6.88% 08/01/97 6.41% 119.17 111.99
4 IAGLN 1.5 7/4/2027 1.50% 07/04/27 5.40% 70.03 66.44
5 ISRELE 8.1 12/15/2096 8.10% 12/15/96 5.27% 126.53 120.20
6 ATOFP 1 11/12/2029 1.00% 11/12/29 5.25% 59.36 56.40
7 MEXCAT 5.5 10/31/2046 5.50% 10/31/46 4.93% 65.15 62.08
8 VGASDE 0.5 9/10/2034 0.50% 09/10/34 4.88% 62.58 59.67
9 JPM 4 4/30/2025 4.00% 04/30/25 4.65% 85.29 81.50
10 CIMAU 1.5 5/28/2029 1.50% 05/28/29 4.52% 68.73 65.76

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 9/30/22 – 10/7/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CAMBRG 2.35 6/27/2078 2.35% 06/27/78 -14.53% 50.85 59.50
2 THAMES 1.76 8/28/2062 1.76% 08/28/62 -13.03% 76.53 87.99
3 SVTLN 1.56625 2/1/2058 1.57% 02/01/58 -12.88% 81.38 93.41
4 RESFER 4.83 3/25/2060 4.83% 03/25/60 -11.86% 90.69 102.89
5 LONQUA 2.75 7/20/2057 2.75% 07/20/57 -11.51% 51.96 58.72
6 WELLTR 4 5/9/2059 4.00% 05/09/59 -11.25% 81.13 91.42
7 BRITEL 1.739 6/25/2039 1.74% 06/25/39 -10.90% 75.39 84.62
8 HTHROW 1.238 3/22/2040 1.24% 03/22/40 -10.81% 72.44 81.22
9 NGGLN 1.823 5/26/2056 1.82% 05/26/56 -10.62% 80.77 90.37
10 CTRL 2.334 11/2/2051 2.33% 11/02/51 -10.58% 212.19 237.30

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 9/30/22 – 10/7/22

RANK INDUSTRY CHANGE YLD YLD-1W
1 Media: Diversified & Production -32 bps 5.28% 5.60%
2 Consumer Goods: Non-Durable -25 bps 4.54% 4.80%
3 Services: Consumer -23 bps 6.71% 6.94%
4 Healthcare & Pharmaceuticals -13 bps 4.87% 5.00%
5 Telecommunications -6 bps 4.99% 5.05%
6 Energy: Oil & Gas -6 bps 6.18% 6.24%
7 Beverage, Food & Tobacco -6 bps 4.92% 4.97%
8 Energy: Electricity -3 bps 4.56% 4.58%
9 Real Estate 0 bps 7.13% 7.13%
10 High Tech Industries 3 bps 5.46% 5.43%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 9/30/22 – 10/7/22

RANK INDUSTRY CHANGE YLD YLD-1W
1 Transportation: Cargo 107 bps 8.87% 7.80%
2 Capital Equipment 81 bps 5.46% 4.66%
3 Transportation: Consumer 77 bps 7.04% 6.27%
4 Sovereign & Public Finance 66 bps 5.16% 4.50%
5 Metals & Mining 42 bps 6.13% 5.71%
6 Construction & Building 38 bps 5.52% 5.15%
7 Forest Products & Paper 33 bps 5.11% 4.78%
8 Consumer Goods: Durable 27 bps 5.08% 4.81%
9 Aerospace & Defense 27 bps 6.29% 6.02%
10 Utilities: Oil & Gas 27 bps 5.98% 5.72%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 9/30/22 – 10/7/22

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 9/30/22 – 10/7/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/30/22 vs. the week ending 10/7/22

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CMCSA 2.887 11/1/2051 2.89% 11/01/51 198 274 76 38%
2 KD 2.7 10/15/2028 2.70% 10/15/28 11 87 76 691%
3 CS 3.8 6/9/2023 3.80% 06/09/23 75 145 70 93%
4 CMCSA 2.987 11/1/2063 2.99% 11/01/63 206 269 63 31%
5 CS 1 5/5/2023 1.00% 05/05/23 107 162 55 51%
6 UNANA 1.125 2/12/2027 1.13% 02/12/27 130 180 50 38%
7 CS 0.52 8/9/2023 0.52% 08/09/23 96 144 48 50%
8 IBM 2.875 11/9/2022 2.88% 11/09/22 85 132 47 55%
9 CS 3.75 3/26/2025 3.75% 03/26/25 175 221 46 26%
10 PLD 4.625 1/15/2033 4.63% 01/15/33 170 216 46 27%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 9/30/22 – 10/7/22

RANK TRANCHE COUPON MATURITY DEALERS
1 XOM 3.452 4/15/2051 3.45% 04/15/51 38
2 AAPL 3.95 8/8/2052 3.95% 08/08/52 38
3 HD 4.5 9/15/2032 4.50% 09/15/32 37
4 ORCL 3.95 3/25/2051 3.95% 03/25/51 37
5 TGT 4.5 9/15/2032 4.50% 09/15/32 36
6 ORCL 3.65 3/25/2041 3.65% 03/25/41 36
7 AAPL 3.35 8/8/2032 3.35% 08/08/32 36
8 INTC 3.05 8/12/2051 3.05% 08/12/51 36
9 DIS 3.6 1/13/2051 3.60% 01/13/51 36
10 VZ 3.55 3/22/2051 3.55% 03/22/51 36

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 9/30/22 – 10/7/22

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 9/30/22 – 10/7/22

Stay up-to-date with weekly summaries.

Stay up-to-date on the latest from Solve

Read the latest from our team

  • Municipals

    Municipal Bond Market Summary – Week Ending 3/22/24

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

  • Corporates

    Investment Grade Corporate Bond Market Summary – Week Ending 3/22/24

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