Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 12/31/20
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 12/24/20 – 12/31/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | FTGORD 6.124 5/15/2051 | 6.12% | 05/15/51 | 5.14% | 130.22 | 123.85 |
| 2 | MPC 5.85 12/15/2045 | 5.85% | 12/15/45 | 4.91% | 121.75 | 116.05 |
| 3 | KO 7 10/1/2026 | 7.00% | 10/01/26 | 4.75% | 131.07 | 125.12 |
| 4 | HTHROW 4.15 10/11/2028 | 4.15% | 10/11/28 | 4.53% | 107.01 | 102.37 |
| 5 | ATLMAR 5.383 2/15/2048 | 5.38% | 02/15/48 | 4.35% | 106.59 | 102.15 |
| 6 | WSTP 5 3/2/2048 | 5.00% | 03/02/48 | 3.93% | 109.15 | 105.02 |
| 7 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | 3.85% | 156.56 | 150.76 |
| 8 | BLIV 4.823 1/29/2038 | 4.82% | 01/29/38 | 3.82% | 123.74 | 119.19 |
| 9 | EL 3.7 8/15/2042 | 3.70% | 08/15/42 | 3.56% | 115.32 | 111.36 |
| 10 | BOSUNI 7.625 7/15/2097 | 7.63% | 07/15/97 | 3.54% | 133.06 | 128.50 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/24/20 – 12/31/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SCJOHN 5.75 2/15/2033 | 5.75% | 02/15/33 | -6.91% | 133.56 | 143.48 |
| 2 | WMT 5.25 9/1/2035 | 5.25% | 09/01/35 | -5.58% | 146.86 | 155.54 |
| 3 | CITLTD 4.6 4/14/2035 | 4.60% | 04/14/35 | -4.63% | 120.04 | 125.87 |
| 4 | MDLZ 6.5 2/9/2040 | 6.50% | 02/09/40 | -4.14% | 141.14 | 147.24 |
| 5 | BKDBOM 5.5138 PERP | 5.52% | 12/29/49 | -3.85% | 81.63 | 84.90 |
| 6 | FLAMES 5.1 3/1/2042 | 5.10% | 03/01/42 | -3.24% | 127.05 | 131.30 |
| 7 | ZURNVX 4.5 7/26/2038 | 4.50% | 07/26/38 | -2.73% | 114.17 | 117.38 |
| 8 | WRK 7.55 3/1/2047 | 7.55% | 03/01/47 | -2.69% | 141.58 | 145.49 |
| 9 | DOV 6.6 3/15/2038 | 6.60% | 03/15/38 | -2.67% | 139.12 | 142.94 |
| 10 | PENDLE 5.937 10/1/2043 | 5.94% | 10/01/43 | -2.64% | 127.46 | 130.92 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/24/20 – 12/31/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Services: Consumer | -968 bps | 11.21% | 20.89% |
| 2 | Energy: Electricity | -174 bps | -1.24% | 0.49% |
| 3 | Metals & Mining | -77 bps | 4.05% | 4.82% |
| 4 | Forest Products & Paper | -71 bps | 0.13% | 0.83% |
| 5 | Transportation: Consumer | -57 bps | 2.06% | 2.63% |
| 6 | Telecommunications | -53 bps | 1.09% | 1.62% |
| 7 | Construction & Building | -44 bps | 0.07% | 0.52% |
| 8 | Consumer Goods: Durable | -44 bps | 0.90% | 1.34% |
| 9 | Healthcare & Pharmaceuticals | -37 bps | 0.47% | 0.84% |
| 10 | Real Estate | -28 bps | 1.11% | 1.39% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/24/20 – 12/31/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Capital Equipment | 47 bps | 0.81% | 0.34% |
| 2 | Utilities: Electric | 33 bps | 1.52% | 1.19% |
| 3 | Hotel, Gaming & Leisure | 31 bps | 2.47% | 2.16% |
| 4 | Utilities: Oil & Gas | 23 bps | 1.32% | 1.09% |
| 5 | Utilities: Water | 12 bps | 0.90% | 0.78% |
| 6 | Media: Diversified & Production | 12 bps | 1.13% | 1.02% |
| 7 | Consumer Goods: Non-Durable | 4 bps | 0.84% | 0.81% |
| 8 | Sovereign & Public Finance | -2 bps | 1.12% | 1.14% |
| 9 | Beverage, Food & Tobacco | -4 bps | 0.62% | 0.66% |
| 10 | Retail | -5 bps | 1.26% | 1.31% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/24/20 – 12/31/20
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 12/24/20 – 12/31/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/24/20 vs. the week ending 12/31/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CARR 2.493 2/15/2027 REGS | 2.49% | 02/15/27 | 54 | 122 | 68 | 126% |
| 2 | BHP 3.25 11/21/2021 | 3.25% | 11/21/21 | 38 | 103 | 65 | 171% |
| 3 | CARR 2.722 2/15/2030 | 2.72% | 02/15/30 | 28 | 79 | 51 | 182% |
| 4 | MS 0.985 12/10/2026 | 0.99% | 12/10/26 | 115 | 164 | 49 | 43% |
| 5 | TEWOOG 5.8 PERP | 5.80% | 03/15/99 | 24 | 67 | 43 | 179% |
| 6 | LLOYDS 2.707 12/3/2035 | 2.71% | 12/03/35 | 64 | 105 | 41 | 64% |
| 7 | CARR 3.577 4/5/2050 | 3.58% | 04/05/50 | 39 | 80 | 41 | 105% |
| 8 | HTHT 3 5/1/2026 REGS | 3.00% | 05/01/26 | 6 | 40 | 34 | 567% |
| 9 | AWLN 3.07 7/30/2032 | 3.07% | 07/30/32 | 22 | 51 | 29 | 132% |
| 10 | HRINTH 0 7/3/2021 | 1.42% | 07/03/21 | 53 | 82 | 29 | 55% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/24/20 – 12/31/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 29 |
| 2 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 29 |
| 3 | SANTAN 3.49 5/28/2030 | 3.49% | 05/28/30 | 29 |
| 4 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 29 |
| 5 | NVDA 2.85 4/1/2030 | 2.85% | 04/01/30 | 28 |
| 6 | SANTAN 2.749 12/3/2030 | 2.75% | 12/03/30 | 28 |
| 7 | CCL 11.5 4/1/2023 144A | 11.50% | 04/01/23 | 28 |
| 8 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 28 |
| 9 | AAPL 1.25 8/20/2030 | 1.25% | 08/20/30 | 28 |
| 10 | BPLN 1.749 8/10/2030 | 1.75% | 08/10/30 | 27 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/24/20 – 12/31/20
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 12/24/20 – 12/31/20
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