Investment Grade Corporate Bond Market Summary – Week Ending 11/27/20
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Investment Grade Corporate Bond Market Summary: Week Ending 11/27/20
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 11/20/20 – 11/27/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | FE 4.85 7/15/2047 | 4.85% | 07/15/47 | 6.45% | 121.63 | 114.26 |
| 2 | ULFP 2.875 PERP | 2.88% | 04/25/99 | 6.37% | 93.69 | 88.08 |
| 3 | ERAFP 4.196 2/28/2024 | 4.20% | 02/28/24 | 5.67% | 92.96 | 87.97 |
| 4 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | 5.58% | 155.79 | 147.56 |
| 5 | ACAFP 8.33 PERP | 0.00% | 12/29/49 | 5.54% | 89.10 | 84.42 |
| 6 | UAL 3.7 3/1/2030 | 3.70% | 03/01/30 | 5.39% | 86.65 | 82.22 |
| 7 | CCL 1 10/28/2029 | 1.00% | 10/28/29 | 5.23% | 71.77 | 68.20 |
| 8 | ORBCAP 3.375 6/14/2048 | 3.38% | 06/14/48 | 4.67% | 127.80 | 122.10 |
| 9 | JOHLEW 4.25 12/18/2034 | 4.25% | 12/18/34 | 4.54% | 98.01 | 93.75 |
| 10 | NOTHIH 4.375 2/20/2054 | 4.38% | 02/20/54 | 4.17% | 150.10 | 144.08 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 11/20/20 – 11/27/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PERU 5.625 11/18/2050 | 5.63% | 11/18/50 | -4.54% | 153.69 | 161.00 |
| 2 | AIFP 2.9 11/15/2022 | 2.90% | 11/15/22 | -4.05% | 99.92 | 104.13 |
| 3 | HON 5.7 3/15/2036 | 5.70% | 03/15/36 | -2.44% | 141.45 | 144.98 |
| 4 | ED 3.95 4/1/2050 | 3.95% | 04/01/50 | -2.42% | 121.82 | 124.84 |
| 5 | FE 5 9/1/2044 | 5.00% | 09/01/44 | -2.33% | 122.62 | 125.55 |
| 6 | PRU 6.625 12/1/2037 | 6.63% | 12/01/37 | -2.18% | 149.88 | 153.22 |
| 7 | SINOPE 3.35 5/13/2050 REGS | 3.35% | 05/13/50 | -2.16% | 107.64 | 110.02 |
| 8 | AKERBP 4 1/15/2031 REGS | 4.00% | 01/15/31 | -2.11% | 98.96 | 101.10 |
| 9 | COLOM 4.125 5/15/2051 | 4.13% | 05/15/51 | -2.06% | 109.84 | 112.15 |
| 10 | URUGUA 4.975 4/20/2055 | 4.98% | 04/20/55 | -1.93% | 136.34 | 139.03 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 11/20/20 – 11/27/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | -73 bps | 1.22% | 1.95% |
| 2 | Hotel, Gaming & Leisure | -30 bps | 2.70% | 3.00% |
| 3 | Telecommunications | -29 bps | 0.90% | 1.19% |
| 4 | Construction & Building | -29 bps | 0.84% | 1.13% |
| 5 | Services: Consumer | -25 bps | 10.40% | 10.65% |
| 6 | Consumer Goods: Non-Durable | -22 bps | 0.79% | 1.02% |
| 7 | Beverage, Food & Tobacco | -21 bps | 0.56% | 0.77% |
| 8 | Finance | -16 bps | 1.37% | 1.53% |
| 9 | High Tech Industries | -16 bps | 0.75% | 0.91% |
| 10 | Banking | -15 bps | 1.28% | 1.43% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 11/20/20 – 11/27/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Metals & Mining | 137 bps | 4.86% | 3.49% |
| 2 | Energy: Electricity | 131 bps | 0.70% | -0.61% |
| 3 | Sovereign & Public Finance | 66 bps | 1.23% | 0.58% |
| 4 | Transportation: Cargo | 61 bps | 1.56% | 0.95% |
| 5 | Environmental Industries | 56 bps | 1.15% | 0.59% |
| 6 | Capital Equipment | 47 bps | 1.14% | 0.67% |
| 7 | Energy: Oil & Gas | 31 bps | 1.91% | 1.60% |
| 8 | Aerospace & Defense | 30 bps | 2.33% | 2.04% |
| 9 | Containers, Packaging, & Glass | 29 bps | 1.28% | 0.99% |
| 10 | Services: Business | 24 bps | 0.93% | 0.69% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/20/20 – 11/27/20 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 11/20/20 – 11/27/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/20/20 vs. the week ending 11/27/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CVS 4.3 3/25/2028 | 4.30% | 03/25/28 | 199 | 304 | 105 | 53% |
| 2 | BMY 1.45 11/13/2030 | 1.45% | 11/13/30 | 152 | 255 | 103 | 68% |
| 3 | ED 3.95 4/1/2050 | 3.95% | 04/01/50 | 174 | 277 | 103 | 59% |
| 4 | ARAMCO 2.875 4/16/2024 REGS | 2.88% | 04/16/24 | 117 | 218 | 101 | 86% |
| 5 | BRKHEC 2.85 5/15/2051 144A | 2.85% | 05/15/51 | 132 | 231 | 99 | 75% |
| 6 | BA 3.625 2/1/2031 | 3.63% | 02/01/31 | 177 | 276 | 99 | 56% |
| 7 | WSTP 2.668 11/15/2035 | 2.67% | 11/15/35 | 189 | 286 | 97 | 51% |
| 8 | MSFT 2.525 6/1/2050 | 2.53% | 06/01/50 | 186 | 282 | 96 | 52% |
| 9 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 182 | 278 | 96 | 53% |
| 10 | VW 0.875 4/12/2023 | 0.88% | 04/12/23 | 152 | 248 | 96 | 63% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/20/20 – 11/27/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 34 |
| 2 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 34 |
| 3 | PETBRA 6.75 1/27/2041 | 6.75% | 01/27/41 | 33 |
| 4 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 33 |
| 5 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 33 |
| 6 | CVS 4.3 3/25/2028 | 4.30% | 03/25/28 | 32 |
| 7 | PETBRA 5.093 1/15/2030 REGS | 5.09% | 01/15/30 | 31 |
| 8 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 30 |
| 9 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 30 |
| 10 | GM 3.6 6/21/2030 | 3.60% | 06/21/30 | 30 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/20/20 – 11/27/20 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 11/20/20 – 11/27/20
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