Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 12/4/20
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 11/27/20 – 12/4/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | GS 5 12/11/2028 | 5.00% | 12/11/28 | 10.07% | 109.38 | 99.38 |
| 2 | UAL 3.65 10/7/2025 | 3.65% | 10/07/25 | 8.88% | 95.25 | 87.48 |
| 3 | AAL 3.7 10/1/2026 | 3.70% | 10/01/26 | 8.15% | 90.03 | 83.25 |
| 4 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | 7.55% | 62.50 | 58.11 |
| 5 | IENOVA 4.875 1/14/2048 REGS | 4.88% | 01/14/48 | 7.03% | 106.07 | 99.10 |
| 6 | ENBL 5 5/15/2044 | 5.00% | 05/15/44 | 6.35% | 89.93 | 84.56 |
| 7 | MEDHEA 3.626 8/15/2049 | 3.63% | 08/15/49 | 5.97% | 112.94 | 106.58 |
| 8 | PTEN 5.15 11/15/2029 | 5.15% | 11/15/29 | 5.95% | 88.86 | 83.87 |
| 9 | IAGLN 3.35 6/15/2029 144A | 3.35% | 06/15/29 | 5.82% | 92.43 | 87.35 |
| 10 | ACACN 3.7 1/15/2026 144A | 3.70% | 01/15/26 | 5.79% | 90.47 | 85.52 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 11/27/20 – 12/4/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CCAPGR 3.5 4/15/2023 | 3.50% | 04/15/23 | -9.68% | 76.62 | 84.83 |
| 2 | CNOOC 3.3 9/30/2049 | 3.30% | 09/30/49 | -8.22% | 98.31 | 107.12 |
| 3 | MENDOZ 0 6/9/2021 | 38.00% | 06/09/21 | -5.46% | 94.54 | 100.00 |
| 4 | UDR 3.75 7/1/2024 | 3.75% | 07/01/24 | -4.60% | 104.55 | 109.59 |
| 5 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | -4.24% | 107.62 | 112.39 |
| 6 | SINOPE 3.35 5/13/2050 REGS | 3.35% | 05/13/50 | -4.17% | 103.15 | 107.64 |
| 7 | BAYNGR 4.2 7/15/2034 144A | 4.20% | 07/15/34 | -4.09% | 110.34 | 115.04 |
| 8 | STX 4.125 1/15/2031 REGS | 4.13% | 01/15/31 | -3.71% | 107.53 | 111.67 |
| 9 | CICFP 0 PERP | 0.00% | 06/29/99 | -3.62% | 80.00 | 83.00 |
| 10 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | -3.31% | 119.55 | 123.64 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 11/27/20 – 12/4/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Consumer Goods: Durable | -97 bps | 0.89% | 1.86% |
| 2 | Media: Diversified & Production | -41 bps | 0.95% | 1.36% |
| 3 | Media: Advertising, Printing & Publishing | -29 bps | 0.45% | 0.75% |
| 4 | Telecommunications | -29 bps | 0.88% | 1.17% |
| 5 | Transportation: Cargo | -13 bps | 0.78% | 0.91% |
| 6 | Capital Equipment | -13 bps | 0.47% | 0.60% |
| 7 | Retail | -10 bps | 1.34% | 1.45% |
| 8 | Real Estate | -9 bps | 1.55% | 1.64% |
| 9 | Utilities: Electric | -9 bps | 1.11% | 1.20% |
| 10 | Energy: Oil & Gas | -8 bps | 1.52% | 1.61% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 11/27/20 – 12/4/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Services: Consumer | 1008 bps | 19.64% | 9.56% |
| 2 | Metals & Mining | 87 bps | 4.32% | 3.46% |
| 3 | Sovereign & Public Finance | 57 bps | 1.15% | 0.58% |
| 4 | Energy: Electricity | 31 bps | -0.61% | -0.91% |
| 5 | Aerospace & Defense | 29 bps | 2.21% | 1.92% |
| 6 | Services: Business | 28 bps | 0.96% | 0.68% |
| 7 | Utilities: Water | 24 bps | 1.17% | 0.93% |
| 8 | Healthcare & Pharmaceuticals | 22 bps | 0.82% | 0.60% |
| 9 | Transportation: Consumer | 21 bps | 2.67% | 2.46% |
| 10 | Containers, Packaging, & Glass | 19 bps | 1.12% | 0.93% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/27/20 – 12/4/20
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 11/27/20 – 12/4/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/27/20 vs. the week ending 12/4/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MENDOZ 2.75 3/19/2029 REGS | 2.75% | 03/19/29 | 95 | 155 | 60 | 63% |
| 2 | FE 2.85 7/15/2022 | 2.85% | 07/15/22 | 94 | 142 | 48 | 51% |
| 3 | DAL 4.5 10/20/2025 REGS | 4.50% | 10/20/25 | 5 | 52 | 47 | 940% |
| 4 | FE 7.375 11/15/2031 | 7.38% | 11/15/31 | 190 | 231 | 41 | 22% |
| 5 | FE 4.25 3/15/2023 | 4.25% | 03/15/23 | 131 | 171 | 40 | 31% |
| 6 | FE 5.45 7/15/2044 | 5.45% | 07/15/44 | 106 | 145 | 39 | 37% |
| 7 | FE 2.05 3/1/2025 | 2.05% | 03/01/25 | 172 | 205 | 33 | 19% |
| 8 | NWG 2.375 5/21/2023 REGS | 2.38% | 05/21/23 | 10 | 42 | 32 | 320% |
| 9 | NSCCLF 1.2 4/23/2023 144A | 1.20% | 04/23/23 | 87 | 119 | 32 | 37% |
| 10 | CATHHE 4.5 11/1/2042 | 4.50% | 11/01/42 | 10 | 42 | 32 | 320% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/27/20 – 12/4/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 33 |
| 2 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 32 |
| 3 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 32 |
| 4 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 31 |
| 5 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 31 |
| 6 | BPLN 1.749 8/10/2030 | 1.75% | 08/10/30 | 31 |
| 7 | ALL 1.45 12/15/2030 | 1.45% | 12/15/30 | 31 |
| 8 | VZ 2.65 11/20/2040 | 2.65% | 11/20/40 | 31 |
| 9 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 31 |
| 10 | AAPL 1.25 8/20/2030 | 1.25% | 08/20/30 | 31 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/27/20 – 12/4/20
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 11/27/20 – 12/4/20
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