Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 3/12/21
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 3/5/21 – 3/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | AESGEN 4.56 4/30/2025 | 4.56% | 04/30/25 | 6.31% | 84.18 | 79.18 |
| 2 | OHNAT 6.875 6/15/2042 | 6.88% | 06/15/42 | 4.30% | 115.85 | 111.08 |
| 3 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | 3.56% | 125.98 | 121.65 |
| 4 | GE 6.025 3/1/2038 | 6.03% | 03/01/38 | 3.41% | 162.21 | 156.87 |
| 5 | UKMBAS 1.625 8/26/2060 | 1.63% | 08/26/60 | 3.40% | 92.69 | 89.64 |
| 6 | RABOBK 6.5 12/29/2049 | 6.50% | 12/29/49 | 3.25% | 130.80 | 126.69 |
| 7 | ROMGB 4.75 10/11/2034 | 4.75% | 10/11/34 | 3.23% | 109.02 | 105.61 |
| 8 | NGGLN 1.823 5/26/2056 | 1.82% | 05/26/56 | 3.16% | 200.68 | 194.53 |
| 9 | CHILE 3.1 1/22/2061 | 3.10% | 01/22/61 | 2.99% | 91.39 | 88.74 |
| 10 | GRWASH 3.545 9/15/2046 | 3.55% | 09/15/46 | 2.82% | 106.52 | 103.60 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 3/5/21 – 3/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | -8.81% | 55.63 | 61.00 |
| 2 | GGICS 9.5 12/18/2032 REGS | 9.50% | 12/18/32 | -4.81% | 72.18 | 75.82 |
| 3 | QTELQD 4.5 1/31/2043 | 4.50% | 01/31/43 | -4.68% | 115.79 | 121.48 |
| 4 | ENELIM 4.75 5/25/2047 | 4.75% | 05/25/47 | -4.60% | 115.42 | 120.98 |
| 5 | RPLLLC 6 4/1/2022 | 6.00% | 04/01/22 | -4.47% | 81.90 | 85.74 |
| 6 | FRDFND 2.815 6/1/2070 | 2.82% | 06/01/70 | -4.37% | 88.56 | 92.61 |
| 7 | ED 3 12/1/2060 | 3.00% | 12/01/60 | -4.13% | 85.56 | 89.25 |
| 8 | PTTTB 3.7 7/16/2070 REGS | 3.70% | 07/16/70 | -3.89% | 92.13 | 95.85 |
| 9 | JPM 4.95 6/1/2045 | 4.95% | 06/01/45 | -3.78% | 123.62 | 128.48 |
| 10 | CMS 2.5 5/1/2060 | 2.50% | 05/01/60 | -3.77% | 80.99 | 84.16 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 3/5/21 – 3/12/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Media: Advertising, Printing & Publishing | -44 bps | 0.21% | 0.65% |
| 2 | Transportation: Cargo | -11 bps | 0.86% | 0.98% |
| 3 | Construction & Building | -9 bps | 1.04% | 1.13% |
| 4 | Capital Equipment | -5 bps | 0.23% | 0.29% |
| 5 | Energy: Electricity | -5 bps | 0.86% | 0.91% |
| 6 | High Tech Industries | -5 bps | 0.61% | 0.66% |
| 7 | Services: Consumer | -4 bps | 1.79% | 1.83% |
| 8 | Telecommunications | -4 bps | 1.27% | 1.31% |
| 9 | Forest Products & Paper | -3 bps | 1.11% | 1.14% |
| 10 | Containers, Packaging, & Glass | -2 bps | 0.82% | 0.84% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 3/5/21 – 3/12/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Sovereign & Public Finance | 49 bps | 1.27% | 0.78% |
| 2 | Environmental Industries | 46 bps | 1.31% | 0.84% |
| 3 | Finance | 17 bps | 1.44% | 1.27% |
| 4 | Banking | 14 bps | 1.29% | 1.15% |
| 5 | Consumer Goods: Durable | 14 bps | 1.27% | 1.14% |
| 6 | Services: Business | 13 bps | 0.93% | 0.80% |
| 7 | Utilities: Water | 11 bps | 1.10% | 0.99% |
| 8 | Utilities: Oil & Gas | 9 bps | 1.50% | 1.41% |
| 9 | Healthcare & Pharmaceuticals | 7 bps | 0.84% | 0.77% |
| 10 | Wholesale | 7 bps | 1.69% | 1.62% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 3/5/21 – 3/12/21
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 3/5/21 – 3/12/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 3/5/21 vs. the week ending 3/12/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CZR 8.125 7/1/2027 144A | 8.13% | 07/01/27 | 80 | 205 | 125 | 156% |
| 2 | RABOBK 1.106 2/24/2027 REGS | 1.11% | 02/24/27 | 40 | 162 | 122 | 305% |
| 3 | MDLZ 0.25 3/17/2028 | 0.25% | 03/17/28 | 20 | 124 | 104 | 520% |
| 4 | ENBW 0.125 3/1/2028 | 0.13% | 03/01/28 | 47 | 137 | 90 | 191% |
| 5 | HSBC 4.7 PERP | 4.70% | 06/08/99 | 114 | 185 | 71 | 62% |
| 6 | DANSKE BK A/S MEDIUM TERM NTS | 1.78% | 12/20/25 | 10 | 75 | 65 | 650% |
| 7 | VTRS 2.3 6/22/2027 144A | 2.30% | 06/22/27 | 82 | 146 | 64 | 78% |
| 8 | FABUH 3.625 3/5/2023 | 3.63% | 03/05/23 | 12 | 76 | 64 | 533% |
| 9 | HYNMTR 3 2/10/2027 144A | 3.00% | 02/10/27 | 118 | 178 | 60 | 51% |
| 10 | NWL 6 4/1/2046 | 6.00% | 04/01/46 | 45 | 101 | 56 | 124% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 3/5/21 – 3/12/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 37 |
| 2 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 35 |
| 3 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 34 |
| 4 | BPLN 3.633 4/6/2030 | 3.63% | 04/06/30 | 33 |
| 5 | AAPL 1.2 2/8/2028 | 1.20% | 02/08/28 | 33 |
| 6 | AAPL 2.65 2/8/2051 | 2.65% | 02/08/51 | 33 |
| 7 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 33 |
| 8 | VZ 1.75 1/20/2031 | 1.75% | 01/20/31 | 33 |
| 9 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 33 |
| 10 | EXC 3.05 3/15/2051 | 3.05% | 03/15/51 | 32 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 3/5/21 – 3/12/21
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 3/5/21 – 3/12/21
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