Investment Grade Corporate Bond Market Summary – Week Ending 3/26/21
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Investment Grade Corporate Bond Market Summary: Week Ending 3/26/21
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 3/19/21 – 3/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | OPBANK 0 PERP | 0.14% | 04/29/49 | 14.29% | 98.92 | 86.55 |
| 2 | BLIV 4.823 1/29/2038 | 4.82% | 01/29/38 | 6.59% | 118.87 | 111.53 |
| 3 | TEL 7.125 10/1/2037 | 7.13% | 10/01/37 | 5.43% | 148.55 | 140.90 |
| 4 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | 5.06% | 135.56 | 129.02 |
| 5 | ABRUZZ 0 11/7/2031 | 0.00% | 11/07/31 | 4.87% | 81.64 | 77.85 |
| 6 | ADOHOU 4.25 1/14/2039 | 4.25% | 01/14/39 | 4.81% | 112.93 | 107.75 |
| 7 | UKMBAS 1.625 8/26/2060 | 1.63% | 08/26/60 | 4.80% | 92.20 | 87.98 |
| 8 | OHNAT 6.875 6/15/2042 | 6.88% | 06/15/42 | 4.63% | 119.24 | 113.97 |
| 9 | USCTRJ 3.028 10/1/2039 | 3.03% | 10/01/39 | 4.58% | 106.93 | 102.25 |
| 10 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | 4.38% | 122.75 | 117.59 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 3/19/21 – 3/26/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CQLGST 4.3 9/26/2024 | 4.30% | 09/26/24 | -6.90% | 84.97 | 91.27 |
| 2 | TLINVT 4.45 6/10/2023 | 4.45% | 06/10/23 | -6.28% | 92.10 | 98.27 |
| 3 | ASIA 12 5/13/2022 | 12.00% | 05/13/22 | -4.86% | 88.99 | 93.54 |
| 4 | MS 5.5 6/26/2030 | 5.50% | 06/26/30 | -4.56% | 81.87 | 85.78 |
| 5 | YUNINV 6.25 3/5/2022 | 6.25% | 03/05/22 | -4.20% | 75.28 | 78.58 |
| 6 | IBRD 0 7/1/2026 | 0.00% | 07/01/26 | -4.06% | 67.42 | 70.28 |
| 7 | ORCL 6.125 7/8/2039 | 6.13% | 07/08/39 | -3.82% | 131.68 | 136.90 |
| 8 | AMXLMM 8.46 12/18/2036 | 8.46% | 12/18/36 | -3.33% | 97.85 | 101.22 |
| 9 | IFC 7 7/20/2027 | 7.00% | 07/20/27 | -3.19% | 102.52 | 105.90 |
| 10 | EIBKOR 7.93 7/30/2026 | 7.93% | 07/30/26 | -2.45% | 104.96 | 107.59 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 3/19/21 – 3/26/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | High Tech Industries | -48 bps | 0.79% | 1.27% |
| 2 | Media: Advertising, Printing & Publishing | -37 bps | 0.28% | 0.65% |
| 3 | Containers, Packaging, & Glass | -36 bps | 1.42% | 1.78% |
| 4 | Transportation: Consumer | -22 bps | 1.86% | 2.08% |
| 5 | Energy: Electricity | -22 bps | 0.38% | 0.60% |
| 6 | Utilities: Electric | -13 bps | 1.20% | 1.34% |
| 7 | Beverage, Food & Tobacco | -13 bps | 0.98% | 1.12% |
| 8 | Chemicals, Plastics & Rubber | -12 bps | 1.34% | 1.46% |
| 9 | Construction & Building | -10 bps | 0.99% | 1.09% |
| 10 | Utilities: Oil & Gas | -8 bps | 1.41% | 1.49% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 3/19/21 – 3/26/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Metals & Mining | 268 bps | 4.43% | 1.74% |
| 2 | Sovereign & Public Finance | 46 bps | 1.19% | 0.74% |
| 3 | Hotel, Gaming & Leisure | 23 bps | 2.55% | 2.32% |
| 4 | Environmental Industries | 23 bps | 1.26% | 1.03% |
| 5 | Insurance | 8 bps | 1.66% | 1.58% |
| 6 | Utilities: Water | 7 bps | 1.07% | 1.00% |
| 7 | Finance | 5 bps | 1.45% | 1.40% |
| 8 | Consumer Goods: Non-Durable | 5 bps | 1.21% | 1.16% |
| 9 | Telecommunications | 5 bps | 1.37% | 1.33% |
| 10 | Services: Consumer | 4 bps | 1.76% | 1.71% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 3/19/21 – 3/26/21 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 3/19/21 – 3/26/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 3/19/21 vs. the week ending 3/26/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | KSA 3.25 10/22/2030 REGS | 3.25% | 10/22/30 | 88 | 222 | 134 | 152% |
| 2 | TSE 5.375 9/1/2025 144A | 5.38% | 09/01/25 | 43 | 176 | 133 | 309% |
| 3 | MOROC 3.5 6/19/2024 | 3.50% | 06/19/24 | 66 | 168 | 102 | 155% |
| 4 | MUBAUH 3.625 5/30/2023 | 3.63% | 05/30/23 | 20 | 113 | 93 | 465% |
| 5 | FABUH 2.5 1/21/2025 | 2.50% | 01/21/25 | 25 | 116 | 91 | 364% |
| 6 | TE 3.45 3/15/2051 | 3.45% | 03/15/51 | 120 | 209 | 89 | 74% |
| 7 | PHILIP 0 2/3/2023 | 0.00% | 02/03/23 | 42 | 130 | 88 | 210% |
| 8 | TE 2.4 3/15/2031 | 2.40% | 03/15/31 | 118 | 198 | 80 | 68% |
| 9 | FCAIM 4.75 7/15/2022 | 4.75% | 07/15/22 | 114 | 191 | 77 | 68% |
| 10 | POLAND 0 7/7/2023 | 0.00% | 07/07/23 | 51 | 127 | 76 | 149% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 3/19/21 – 3/26/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | VZ 0 3/20/2026 | 1.45% | 03/20/26 | 39 |
| 2 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 39 |
| 3 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 38 |
| 4 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 38 |
| 5 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 37 |
| 6 | VZ 1.75 1/20/2031 | 1.75% | 01/20/31 | 36 |
| 7 | KO 2 3/5/2031 | 2.00% | 03/05/31 | 35 |
| 8 | ETP 5 5/15/2050 | 5.00% | 05/15/50 | 35 |
| 9 | INTC 3.9 3/25/2030 | 3.90% | 03/25/30 | 35 |
| 10 | GM 2.35 1/8/2031 | 2.35% | 01/08/31 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 3/19/21 – 3/26/21 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 3/19/21 – 3/26/21
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