Corporates
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Investment Grade Corporate Bond Market Summary:
Week Ending 5/13/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
IG Corp bond new issues for the week ending 5/13/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| Willis North America Inc. (USD) 4.65% 6/15/2027 | Senior Notes | 750 | 99.955 | 4.66 | N/A |
| NXP Semiconductors (USD) 4.4% 6/1/2027 | Senior Notes | 500 | 99.846 | 4.43 | 165 |
| Intercontinental Exchange Inc. (USD) 3.65% 5/23/2025 | Senior Notes | 1250 | 99.89 | N/A | 95 |
| Caterpillar Financial Services Corp. (USD) FLT% 11/13/2023 | Senior Notes | 500 | 100 | N/A | N/A |
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 5/6/22 – 5/13/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | GAZPRU 2.25 7/19/2022 | 2.25% | 07/19/22 | 15.91% | 63.71 | 54.97 |
| 2 | LUKOIL 6.656 6/7/2022 | 6.66% | 06/07/22 | 8.76% | 86.96 | 79.95 |
| 3 | ADJGR 2.25 4/27/2027 | 2.25% | 04/27/27 | 7.39% | 60.53 | 56.36 |
| 4 | RAGB 0.85 6/30/2120 | 0.85% | 06/30/20 | 6.46% | 55.48 | 52.11 |
| 5 | WAUNIV 3.79 10/15/2055 | 3.79% | 10/15/55 | 5.56% | 89.20 | 84.50 |
| 6 | CPPIBC 1.625 10/22/2071 | 1.63% | 10/22/71 | 4.82% | 73.60 | 70.22 |
| 7 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | 4.59% | 65.67 | 62.78 |
| 8 | BRKHEC 1.875 6/16/2062 | 1.88% | 06/16/62 | 4.57% | 68.45 | 65.46 |
| 9 | UNCOLO 1.625 6/4/2061 | 1.63% | 06/04/61 | 4.57% | 73.54 | 70.33 |
| 10 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | 4.49% | 84.00 | 80.39 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 5/6/22 – 5/13/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | COGARD 5.125 1/14/2027 | 5.13% | 01/14/27 | -16.71% | 54.40 | 65.31 |
| 2 | CZGB 1.5 4/24/2040 | 1.50% | 04/24/40 | -9.54% | 58.38 | 64.53 |
| 3 | LNC 0 4/20/2067 | 3.03% | 04/20/67 | -8.31% | 72.94 | 79.55 |
| 4 | ICBPIJ 4.745 6/9/2051 | 4.75% | 06/09/51 | -7.21% | 72.22 | 77.83 |
| 5 | MSTE 6.125 6/15/2028 | 6.13% | 06/15/28 | -6.39% | 81.80 | 87.39 |
| 6 | ITC 6.15 1/31/2038 | 6.15% | 01/31/38 | -6.21% | 107.82 | 114.96 |
| 7 | ALFACL 4.55 9/27/2051 REGS | 4.55% | 09/27/51 | -5.98% | 72.00 | 76.57 |
| 8 | ROMGB 4.25 4/28/2036 | 4.25% | 04/28/36 | -5.78% | 66.26 | 70.32 |
| 9 | VW 1.5 1/21/2041 | 1.50% | 01/21/41 | -5.73% | 70.86 | 75.16 |
| 10 | VGPBB 1.5 4/8/2029 | 1.50% | 04/08/29 | -5.67% | 75.83 | 80.40 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 5/6/22 – 5/13/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Consumer Goods: Durable | -30 bps | 2.60% | 2.90% |
| 2 | Energy: Oil & Gas | -30 bps | 4.05% | 4.36% |
| 3 | Construction & Building | -30 bps | 2.98% | 3.27% |
| 4 | Telecommunications | -25 bps | 4.31% | 4.56% |
| 5 | Media: Diversified & Production | -22 bps | 3.58% | 3.81% |
| 6 | Media: Broadcasting & Subscription | -20 bps | 3.61% | 3.81% |
| 7 | Utilities: Water | -18 bps | 2.60% | 2.79% |
| 8 | Healthcare & Pharmaceuticals | -18 bps | 3.15% | 3.33% |
| 9 | High Tech Industries | -15 bps | 3.67% | 3.82% |
| 10 | Energy: Electricity | -15 bps | 2.86% | 3.01% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 5/6/22 – 5/13/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Transportation: Cargo | 321 bps | 7.88% | 4.67% |
| 2 | Sovereign & Public Finance | 87 bps | 4.21% | 3.34% |
| 3 | Banking | 28 bps | 3.47% | 3.19% |
| 4 | Hotel, Gaming & Leisure | 28 bps | 4.24% | 3.97% |
| 5 | Finance | 24 bps | 3.84% | 3.60% |
| 6 | Real Estate | 11 bps | 4.34% | 4.23% |
| 7 | Wholesale | 8 bps | 3.69% | 3.61% |
| 8 | Metals & Mining | 8 bps | 5.03% | 4.95% |
| 9 | Chemicals, Plastics & Rubber | 7 bps | 4.05% | 3.98% |
| 10 | Retail | 1 bps | 4.04% | 4.03% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 5/6/22 – 5/13/22
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 5/6/22 – 5/13/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 5/6/22 vs. the week ending 5/13/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | EXC 3.35 3/15/2032 144A | 3.35% | 03/15/32 | 86 | 228 | 142 | 165% |
| 2 | BAC 6.125 PERP | 6.13% | 07/27/99 | 139 | 277 | 138 | 99% |
| 3 | LUKOIL 6.656 6/7/2022 | 6.66% | 06/07/22 | 63 | 117 | 54 | 86% |
| 4 | JPM 4.08 4/26/2026 | 4.08% | 04/26/26 | 186 | 236 | 50 | 27% |
| 5 | GARUDA 5.95 6/3/2023 | 5.95% | 06/03/23 | 79 | 128 | 49 | 62% |
| 6 | SHNHAN 4.375 4/13/2032 144A | 4.38% | 04/13/32 | 40 | 89 | 49 | 123% |
| 7 | PNC 6 PERP | 6.00% | 11/15/99 | 203 | 243 | 40 | 20% |
| 8 | PM 6.375 5/16/2038 | 6.38% | 05/16/38 | 156 | 190 | 34 | 22% |
| 9 | PM 4.875 11/15/2043 | 4.88% | 11/15/43 | 146 | 177 | 31 | 21% |
| 10 | GRWALL 3.95 PERP | 3.95% | 07/31/99 | 115 | 145 | 30 | 26% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 5/6/22 – 5/13/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | AMZN 3.95 4/13/2052 | 3.95% | 04/13/52 | 40 |
| 2 | AMZN 3.3 4/13/2027 | 3.30% | 04/13/27 | 40 |
| 3 | AMZN 3.6 4/13/2032 | 3.60% | 04/13/32 | 40 |
| 4 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
| 5 | AMZN 4.1 4/13/2062 | 4.10% | 04/13/62 | 35 |
| 6 | AMZN 2.875 5/12/2041 | 2.88% | 05/12/41 | 35 |
| 7 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 34 |
| 8 | WFC 4.611 4/25/2053 | 4.61% | 04/25/53 | 34 |
| 9 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 34 |
| 10 | AMZN 3 4/13/2025 | 3.00% | 04/13/25 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 5/6/22 – 5/13/22
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 5/6/22 – 5/13/22
Stay up-to-date with weekly summaries.
