Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 12/18/20
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 12/11/20 – 12/18/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | PEMEX 9.5 9/15/2027 | 9.50% | 09/15/27 | 7.32% | 114.75 | 106.92 |
| 2 | GLJGR 1.423 5/15/2025 | 1.42% | 05/15/25 | 7.04% | 86.33 | 80.65 |
| 3 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | 5.23% | 87.34 | 83.00 |
| 4 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | 5.10% | 123.70 | 117.69 |
| 5 | PTEN 3.95 2/1/2028 | 3.95% | 02/01/28 | 5.07% | 91.95 | 87.51 |
| 6 | MO 9.95 11/10/2038 | 9.95% | 11/10/38 | 4.31% | 164.21 | 157.43 |
| 7 | RAI 7 8/4/2041 | 7.00% | 08/04/41 | 4.12% | 131.70 | 126.48 |
| 8 | ROSW 7 3/1/2039 | 7.00% | 03/01/39 | 3.95% | 171.69 | 165.16 |
| 9 | TRGV 6.625 2/17/2045 | 6.63% | 02/17/45 | 3.86% | 102.48 | 98.67 |
| 10 | SUCN 7.15 2/1/2032 | 7.15% | 02/01/32 | 3.82% | 137.78 | 132.71 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/11/20 – 12/18/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SHNHAN 3.875 12/7/2026 | 3.88% | 12/07/26 | -6.36% | 102.69 | 109.66 |
| 2 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | -5.05% | 149.67 | 157.64 |
| 3 | CSX 6.8 12/1/2028 | 6.80% | 12/01/28 | -4.30% | 129.88 | 135.71 |
| 4 | KBC 0 2/7/2025 | 3.50% | 02/07/25 | -3.99% | 101.34 | 105.56 |
| 5 | SAVE 4.45 4/1/2024 | 4.45% | 04/01/24 | -3.75% | 93.39 | 97.03 |
| 6 | HTHROW 4.15 10/11/2028 | 4.15% | 10/11/28 | -3.57% | 102.34 | 106.13 |
| 7 | BRKHEC 1.875 6/16/2062 | 1.88% | 06/16/62 | -3.36% | 108.91 | 112.69 |
| 8 | EXC 2.9 6/15/2050 | 2.90% | 06/15/50 | -3.19% | 104.01 | 107.44 |
| 9 | GLW 5.75 8/15/2040 | 5.75% | 08/15/40 | -3.18% | 133.75 | 138.15 |
| 10 | SRE 3.75 6/1/2047 | 3.75% | 06/01/47 | -3.11% | 114.85 | 118.54 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/11/20 – 12/18/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Construction & Building | -43 bps | 0.55% | 0.97% |
| 2 | Consumer Goods: Durable | -37 bps | 1.34% | 1.71% |
| 3 | High Tech Industries | -18 bps | 0.62% | 0.80% |
| 4 | Telecommunications | -17 bps | 0.89% | 1.05% |
| 5 | Forest Products & Paper | -14 bps | 0.73% | 0.87% |
| 6 | Energy: Electricity | -10 bps | -0.90% | -0.80% |
| 7 | Hotel, Gaming & Leisure | -6 bps | 2.45% | 2.51% |
| 8 | Beverage, Food & Tobacco | -4 bps | 0.65% | 0.69% |
| 9 | Energy: Oil & Gas | -3 bps | 1.38% | 1.41% |
| 10 | Retail | -3 bps | 1.27% | 1.30% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/11/20 – 12/18/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Metals & Mining | 162 bps | 4.67% | 3.04% |
| 2 | Services: Consumer | 125 bps | 11.53% | 10.28% |
| 3 | Sovereign & Public Finance | 52 bps | 0.95% | 0.43% |
| 4 | Media: Diversified & Production | 35 bps | 1.35% | 1.00% |
| 5 | Chemicals, Plastics & Rubber | 34 bps | 1.58% | 1.24% |
| 6 | Environmental Industries | 31 bps | 0.78% | 0.47% |
| 7 | Utilities: Water | 29 bps | 1.11% | 0.82% |
| 8 | Real Estate | 24 bps | 1.66% | 1.41% |
| 9 | Capital Equipment | 24 bps | 0.55% | 0.31% |
| 10 | Transportation: Consumer | 20 bps | 2.40% | 2.20% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/11/20 – 12/18/20
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 12/11/20 – 12/18/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/11/20 vs. the week ending 12/18/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CARR 2.242 2/15/2025 | 2.24% | 02/15/25 | 28 | 103 | 75 | 268% |
| 2 | RPRX 3.55 9/2/2050 REGS | 3.55% | 09/02/50 | 49 | 117 | 68 | 139% |
| 3 | INTPET 5.5 3/1/2022 | 5.50% | 03/01/22 | 59 | 122 | 63 | 107% |
| 4 | DOW 2.1 9/15/2030 | 2.10% | 09/15/30 | 42 | 97 | 55 | 131% |
| 5 | CZR 6.25 7/1/2025 REGS | 6.25% | 07/01/25 | 147 | 194 | 47 | 32% |
| 6 | MS 0.985 12/10/2026 | 0.99% | 12/10/26 | 62 | 108 | 46 | 74% |
| 7 | CARR 2.242 2/15/2025 REGS | 2.24% | 02/15/25 | 35 | 80 | 45 | 129% |
| 8 | VTRS 3.85 6/22/2040 REGS | 3.85% | 06/22/40 | 112 | 155 | 43 | 38% |
| 9 | ABBV 0 11/21/2022 | 0.87% | 11/21/22 | 33 | 74 | 41 | 124% |
| 10 | RIFP 2.75 10/1/2050 144A | 2.75% | 10/01/50 | 143 | 182 | 39 | 27% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/11/20 – 12/18/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 33 |
| 2 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 32 |
| 3 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 32 |
| 4 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 31 |
| 5 | NVDA 2.85 4/1/2030 | 2.85% | 04/01/30 | 31 |
| 6 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 31 |
| 7 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 31 |
| 8 | XOM 3.482 3/19/2030 | 3.48% | 03/19/30 | 31 |
| 9 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 31 |
| 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 12/11/20 – 12/18/20
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 12/11/20 – 12/18/20
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