Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 2/11/22
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 2/4/22 – 2/11/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | COGARD 8 1/27/2024 | 8.00% | 01/27/24 | 5.23% | 94.90 | 90.18 |
| 2 | GS 1 12/21/2025 | 1.00% | 12/21/25 | 3.83% | 100.57 | 96.86 |
| 3 | DUK 2.387 7/1/2037 | 2.39% | 07/01/37 | 3.27% | 95.23 | 92.22 |
| 4 | DVN 5.25 10/15/2027 | 5.25% | 10/15/27 | 2.68% | 107.04 | 104.25 |
| 5 | DRE 3.75 12/1/2024 | 3.75% | 12/01/24 | 1.89% | 106.60 | 104.62 |
| 6 | GAZPRU 1.45 3/6/2023 | 1.45% | 03/06/23 | 1.81% | 97.75 | 96.01 |
| 7 | CZGB 1.5 4/24/2040 | 1.50% | 04/24/40 | 1.80% | 76.86 | 75.51 |
| 8 | WILTON 5.875 3/30/2033 | 5.88% | 03/30/33 | 1.67% | 101.59 | 99.92 |
| 9 | COLLIN 0 9/23/2022 | 4.34% | 09/23/22 | 1.67% | 94.55 | 93.00 |
| 10 | BATSLN 2.25 9/9/2052 | 2.25% | 09/09/52 | 1.66% | 59.47 | 58.50 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 2/4/22 – 2/11/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | DNBNO 0 PERP | 0.81% | 08/29/49 | -11.98% | 83.07 | 94.38 |
| 2 | IBRD 0.2 1/21/2061 | 0.20% | 01/21/61 | -8.24% | 75.77 | 82.57 |
| 3 | ALVGR 3.875 PERP | 3.88% | 12/31/49 | -7.92% | 90.11 | 97.87 |
| 4 | CFELEC 4.677 2/9/2051 REGS | 4.68% | 02/09/51 | -7.69% | 81.20 | 87.96 |
| 5 | SLOVGB 2.25 6/12/2068 | 2.25% | 06/12/68 | -6.59% | 118.39 | 126.74 |
| 6 | BFCM 0 12/29/2049 | 0.86% | 12/29/49 | -6.49% | 87.54 | 93.61 |
| 7 | KORIFP 2.25 10/15/2028 | 2.25% | 10/15/28 | -6.34% | 83.39 | 89.03 |
| 8 | EFSF 0.7 1/17/2053 | 0.70% | 01/17/53 | -6.25% | 93.69 | 99.93 |
| 9 | SO 4.75 10/15/2041 | 4.75% | 10/15/41 | -6.05% | 106.49 | 113.34 |
| 10 | EU 0.7 7/6/2051 | 0.70% | 07/06/51 | -6.03% | 93.05 | 99.02 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 2/4/22 – 2/11/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Energy: Electricity | -13 bps | 1.71% | 1.84% |
| 2 | Media: Diversified & Production | 5 bps | 2.45% | 2.40% |
| 3 | Media: Advertising, Printing & Publishing | 5 bps | 1.53% | 1.48% |
| 4 | Construction & Building | 7 bps | 2.01% | 1.94% |
| 5 | High Tech Industries | 11 bps | 2.37% | 2.26% |
| 6 | Real Estate | 14 bps | 2.70% | 2.56% |
| 7 | Environmental Industries | 19 bps | 2.48% | 2.30% |
| 8 | Energy: Oil & Gas | 20 bps | 2.76% | 2.57% |
| 9 | Utilities: Electric | 20 bps | 2.35% | 2.15% |
| 10 | Media: Broadcasting & Subscription | 21 bps | 2.53% | 2.32% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 2/4/22 – 2/11/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Sovereign & Public Finance | 53 bps | 2.23% | 1.70% |
| 2 | Containers, Packaging, & Glass | 46 bps | 2.48% | 2.01% |
| 3 | Consumer Goods: Durable | 43 bps | 2.00% | 1.58% |
| 4 | Wholesale | 37 bps | 2.53% | 2.16% |
| 5 | Utilities: Water | 35 bps | 1.98% | 1.63% |
| 6 | Services: Business | 33 bps | 2.16% | 1.83% |
| 7 | Capital Equipment | 33 bps | 2.12% | 1.79% |
| 8 | Utilities: Oil & Gas | 32 bps | 2.69% | 2.37% |
| 9 | Consumer Goods: Non-Durable | 32 bps | 2.12% | 1.80% |
| 10 | Forest Products & Paper | 30 bps | 1.81% | 1.51% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/4/22 – 2/11/22
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 2/4/22 – 2/11/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/4/22 vs. the week ending 2/11/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | TSINGH 5.375 1/31/2023 | 5.38% | 01/31/23 | 54 | 140 | 86 | 159% |
| 2 | SEB 0.75 11/15/2027 | 0.75% | 11/15/27 | 49 | 115 | 66 | 135% |
| 3 | LDOS 5.5 7/1/2033 | 5.50% | 07/01/33 | 50 | 88 | 38 | 76% |
| 4 | GS 1.25 2/8/2029 | 1.25% | 02/08/29 | 6 | 40 | 34 | 567% |
| 5 | EPD 5.375 2/15/2078 | 5.38% | 02/15/78 | 129 | 163 | 34 | 26% |
| 6 | BMO 1 11/24/2026 | 1.00% | 11/24/26 | 2 | 35 | 33 | 1650% |
| 7 | ABIBB 4 4/13/2028 | 4.00% | 04/13/28 | 256 | 288 | 32 | 13% |
| 8 | BAC 0 4/27/2028 | 1.39% | 04/27/28 | 28 | 60 | 32 | 114% |
| 9 | HSBC 0 11/22/2024 | 0.63% | 11/22/24 | 79 | 111 | 32 | 41% |
| 10 | BPCEGP 0 1/14/2025 144A | 0.00% | 01/14/25 | 83 | 115 | 32 | 39% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/4/22 – 2/11/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 41 |
| 2 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
| 3 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 36 |
| 4 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 36 |
| 5 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 35 |
| 6 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 35 |
| 7 | NEE 2.45 2/3/2032 | 2.45% | 02/03/32 | 35 |
| 8 | GS 3.102 2/24/2033 | 3.10% | 02/24/33 | 35 |
| 9 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 35 |
| 10 | CAT 1.7 1/8/2027 | 1.70% | 01/08/27 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/4/22 – 2/11/22
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 2/4/22 – 2/11/22
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