Investment Grade Corporate Bond Market Summary – Week Ending 12/11/20
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Investment Grade Corporate Bond Market Summary: Week Ending 12/11/20
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 12/4/20 – 12/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ESICN 9.25 4/15/2024 144A | 9.25% | 04/15/24 | 35.20% | 59.85 | 44.27 |
| 2 | BILL 0 3/20/2023 | 0.90% | 03/20/23 | 7.64% | 113.67 | 105.60 |
| 3 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | 7.45% | 83.00 | 77.25 |
| 4 | BRKHEC 1.875 6/16/2062 | 1.88% | 06/16/62 | 7.31% | 112.69 | 105.02 |
| 5 | TRANLN 4 4/7/2064 | 4.00% | 04/07/64 | 6.55% | 178.54 | 167.57 |
| 6 | UKMBAS 1.625 8/26/2060 | 1.63% | 08/26/60 | 6.30% | 103.95 | 97.80 |
| 7 | LONQUA 2.75 7/20/2057 | 2.75% | 07/20/57 | 5.77% | 125.95 | 119.08 |
| 8 | HYDEH 1.75 8/18/2055 | 1.75% | 08/18/55 | 5.75% | 99.94 | 94.51 |
| 9 | UAL 3.45 7/7/2028 | 3.45% | 07/07/28 | 5.70% | 95.65 | 90.49 |
| 10 | LANDLN 2.75 9/22/2057 | 2.75% | 09/22/57 | 5.59% | 122.98 | 116.47 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/4/20 – 12/11/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ALTAWH 7 6/30/2035 | 7.00% | 06/30/35 | -4.64% | 118.18 | 123.93 |
| 2 | VIEFP 6.75 6/1/2038 | 6.75% | 06/01/38 | -3.01% | 143.04 | 147.47 |
| 3 | IR 4.5 3/21/2049 | 4.50% | 03/21/49 | -2.81% | 128.25 | 131.96 |
| 4 | DOW 3.6 11/15/2050 | 3.60% | 11/15/50 | -2.76% | 107.81 | 110.87 |
| 5 | CDNFNA 4.65 5/7/2024 | 4.65% | 05/07/24 | -2.62% | 101.24 | 103.96 |
| 6 | STX 3.375 7/15/2031 REGS | 3.38% | 07/15/31 | -2.55% | 97.32 | 99.88 |
| 7 | UPLLIN 5.25 PERP | 5.25% | 02/27/99 | -2.45% | 97.61 | 100.06 |
| 8 | LLOYDS 4.344 1/9/2048 | 4.34% | 01/09/48 | -2.30% | 122.02 | 124.90 |
| 9 | MS 4.3 1/27/2045 | 4.30% | 01/27/45 | -2.26% | 131.99 | 135.04 |
| 10 | AEP 9.81 12/7/2021 | 9.81% | 12/07/21 | -2.24% | 104.58 | 106.97 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/4/20 – 12/11/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -459 bps | -5.14% | -0.55% |
| 2 | Media: Advertising, Printing & Publishing | -24 bps | 0.21% | 0.46% |
| 3 | Construction & Building | -22 bps | 0.77% | 0.99% |
| 4 | Consumer Goods: Durable | -21 bps | 1.33% | 1.54% |
| 5 | Transportation: Cargo | -18 bps | 0.61% | 0.79% |
| 6 | Telecommunications | -15 bps | 0.95% | 1.10% |
| 7 | Forest Products & Paper | -8 bps | 0.83% | 0.91% |
| 8 | Beverage, Food & Tobacco | -7 bps | 0.76% | 0.83% |
| 9 | Media: Diversified & Production | -6 bps | 0.95% | 1.01% |
| 10 | Energy: Oil & Gas | 0 bps | 1.49% | 1.49% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/4/20 – 12/11/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Metals & Mining | 133 bps | 4.45% | 3.12% |
| 2 | Transportation: Consumer | 104 bps | 3.18% | 2.13% |
| 3 | Services: Consumer | 89 bps | 11.06% | 10.16% |
| 4 | Sovereign & Public Finance | 56 bps | 1.11% | 0.55% |
| 5 | Aerospace & Defense | 28 bps | 1.97% | 1.69% |
| 6 | Services: Business | 28 bps | 1.07% | 0.79% |
| 7 | Real Estate | 25 bps | 1.70% | 1.45% |
| 8 | Environmental Industries | 22 bps | 0.76% | 0.54% |
| 9 | Utilities: Water | 21 bps | 1.16% | 0.94% |
| 10 | Utilities: Oil & Gas | 19 bps | 1.29% | 1.10% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/4/20 – 12/11/20 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 12/4/20 – 12/11/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/4/20 vs. the week ending 12/11/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CABKSM 0.375 11/18/2026 | 0.38% | 11/18/26 | 22 | 161 | 139 | 632% |
| 2 | BBVASM 1.875 9/18/2025 REGS | 1.88% | 09/18/25 | 25 | 153 | 128 | 512% |
| 3 | PEMEX 6.95 1/28/2060 | 6.95% | 01/28/60 | 75 | 196 | 121 | 161% |
| 4 | PEMEX 7.69 1/23/2050 | 7.69% | 01/23/50 | 78 | 196 | 118 | 151% |
| 5 | PEMEX 6.49 1/23/2027 | 6.49% | 01/23/27 | 71 | 186 | 115 | 162% |
| 6 | VTRS 2.7 6/22/2030 REGS | 2.70% | 06/22/30 | 11 | 123 | 112 | 1018% |
| 7 | PEMEX 5.95 1/28/2031 | 5.95% | 01/28/31 | 69 | 180 | 111 | 161% |
| 8 | VTRS 3.85 6/22/2040 REGS | 3.85% | 06/22/40 | 4 | 112 | 108 | 2700% |
| 9 | DAL 4.5 10/20/2025 REGS | 4.50% | 10/20/25 | 52 | 153 | 101 | 194% |
| 10 | CMARK 0.01 1/28/2026 | 0.01% | 01/28/26 | 14 | 114 | 100 | 714% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/4/20 – 12/11/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 32 |
| 2 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 32 |
| 3 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 32 |
| 4 | VZ 2.65 11/20/2040 | 2.65% | 11/20/40 | 32 |
| 5 | ALL 1.45 12/15/2030 | 1.45% | 12/15/30 | 31 |
| 6 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 31 |
| 7 | PETBRA 6.75 1/27/2041 | 6.75% | 01/27/41 | 31 |
| 8 | CVS 4.3 3/25/2028 | 4.30% | 03/25/28 | 31 |
| 9 | XOM 3.482 3/19/2030 | 3.48% | 03/19/30 | 31 |
| 10 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 31 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/4/20 – 12/11/20 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 12/4/20 – 12/11/20
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