Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 12/23/21
Our newsletter presents key trends derived from observable 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 12/17/21 – 12/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | MASSIN 3.885 7/1/2116 | 3.89% | 07/01/16 | 7.14% | 127.06 | 118.60 |
| 2 | CALTEC 4.7 11/1/2111 | 4.70% | 11/01/11 | 7.05% | 147.73 | 138.00 |
| 3 | UNIZOH 0.52 5/27/2022 | 0.52% | 05/27/22 | 6.67% | 64.00 | 60.00 |
| 4 | SHIMAO 3.975 9/16/2023 | 3.98% | 09/16/23 | 6.13% | 61.00 | 57.48 |
| 5 | GGICS 9.5 12/18/2032 REGS | 9.50% | 12/18/32 | 5.05% | 67.45 | 64.20 |
| 6 | SR 0 12/2/2024 | 0.00% | 12/02/24 | 4.95% | 104.84 | 99.90 |
| 7 | SOSEIG 0.25 7/27/2026 | 0.25% | 07/27/26 | 4.08% | 112.08 | 107.68 |
| 8 | FCF 5.5 6/1/2033 | 5.50% | 06/01/33 | 3.51% | 113.96 | 110.10 |
| 9 | ZYAMCL 4.2 11/29/2022 | 4.20% | 11/29/22 | 2.44% | 93.21 | 90.99 |
| 10 | FRCN 0.375 1/15/2027 144A | 0.38% | 01/15/27 | 2.43% | 98.75 | 96.41 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/17/21 – 12/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | -5.94% | 139.62 | 148.44 |
| 2 | JCI 5.25 12/1/2041 | 5.25% | 12/01/41 | -5.54% | 114.86 | 121.59 |
| 3 | WELLTR 1.5 7/14/2071 | 1.50% | 07/14/71 | -5.48% | 96.63 | 102.23 |
| 4 | CPPIBC 1.625 10/22/2071 | 1.63% | 10/22/71 | -5.40% | 103.64 | 109.56 |
| 5 | DBHNGR 4.5 11/29/2072 | 4.50% | 11/29/72 | -5.19% | 184.32 | 194.42 |
| 6 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -5.07% | 83.83 | 88.31 |
| 7 | GE 3.625 5/1/2030 | 3.63% | 05/01/30 | -5.07% | 105.55 | 111.19 |
| 8 | FSHPHO 1.875 7/14/2061 | 1.88% | 07/14/61 | -5.03% | 98.84 | 104.07 |
| 9 | UNCOLO 1.625 6/4/2061 | 1.63% | 06/04/61 | -4.83% | 103.19 | 108.42 |
| 10 | NRW 1.75 7/11/2068 | 1.75% | 07/11/68 | -4.68% | 130.58 | 136.99 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/17/21 – 12/23/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Hotel, Gaming & Leisure | -152 bps | 1.70% | 3.22% |
| 2 | Media: Diversified & Production | -112 bps | 0.62% | 1.74% |
| 3 | Aerospace & Defense | -103 bps | 0.68% | 1.71% |
| 4 | Consumer Goods: Durable | -101 bps | 0.36% | 1.37% |
| 5 | Capital Equipment | -85 bps | 0.28% | 1.12% |
| 6 | Beverage, Food & Tobacco | -83 bps | 0.49% | 1.32% |
| 7 | Healthcare & Pharmaceuticals | -80 bps | 0.49% | 1.29% |
| 8 | Energy: Electricity | -79 bps | 0.37% | 1.16% |
| 9 | Services: Business | -70 bps | 0.52% | 1.22% |
| 10 | Metals & Mining | -58 bps | 1.43% | 2.01% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/17/21 – 12/23/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Sovereign & Public Finance | 79 bps | 2.06% | 1.27% |
| 2 | Media: Broadcasting & Subscription | 46 bps | 2.64% | 2.18% |
| 3 | Wholesale | 31 bps | 1.94% | 1.63% |
| 4 | Banking | 11 bps | 1.44% | 1.33% |
| 5 | Real Estate | 7 bps | 2.12% | 2.05% |
| 6 | Retail | 2 bps | 1.91% | 1.89% |
| 7 | Finance | -16 bps | 1.45% | 1.62% |
| 8 | Energy: Oil & Gas | -18 bps | 2.14% | 2.31% |
| 9 | Utilities: Water | -19 bps | 0.90% | 1.09% |
| 10 | Consumer Goods: Non-Durable | -22 bps | 1.03% | 1.24% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/17/21 – 12/23/21
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 12/17/21 – 12/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/17/21 vs. the week ending 12/23/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | GLENLN 3.875 4/27/2051 REGS | 3.88% | 04/27/51 | 22 | 108 | 86 | 391% |
| 2 | ARYNSW 6.82 PERP | 6.82% | 11/29/49 | 14 | 92 | 78 | 557% |
| 3 | ROMANI 6.125 1/22/2044 | 6.13% | 01/22/44 | 86 | 154 | 68 | 79% |
| 4 | QNBK 0 3/21/2024 | 0.00% | 03/21/24 | 4 | 48 | 44 | 1100% |
| 5 | USB 2.491 11/3/2036 | 2.49% | 11/03/36 | 173 | 214 | 41 | 24% |
| 6 | USAACA 0.5 5/1/2024 | 0.50% | 05/01/24 | 81 | 119 | 38 | 47% |
| 7 | ORCL 3.65 3/25/2041 | 3.65% | 03/25/41 | 313 | 350 | 37 | 12% |
| 8 | C 0.5 1/29/2022 | 0.50% | 01/29/22 | 176 | 210 | 34 | 19% |
| 9 | KD 2.05 10/15/2026 144A | 2.05% | 10/15/26 | 11 | 45 | 34 | 309% |
| 10 | AMZN 2.7 6/3/2060 | 2.70% | 06/03/60 | 289 | 323 | 34 | 12% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/17/21 – 12/23/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 41 |
| 2 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 39 |
| 3 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 38 |
| 4 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 38 |
| 5 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 38 |
| 6 | DTV 5.875 8/15/2027 144A | 5.88% | 08/15/27 | 37 |
| 7 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 37 |
| 8 | ORCL 3.65 3/25/2041 | 3.65% | 03/25/41 | 37 |
| 9 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 36 |
| 10 | MRK 2.15 12/10/2031 | 2.15% | 12/10/31 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/17/21 – 12/23/21
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 12/17/21 – 12/23/21
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