Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 5/7/21
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 4/30/21 – 5/7/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | HIMARK 6.125 5/15/2041 | 6.13% | 05/15/41 | 8.92% | 130.43 | 119.74 |
| 2 | HRINTH 4.5 PERP | 4.50% | 12/29/49 | 8.35% | 69.46 | 64.11 |
| 3 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | 3.78% | 110.63 | 106.60 |
| 4 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | 3.75% | 86.14 | 83.03 |
| 5 | APO 5 3/15/2048 REGS | 5.00% | 03/15/48 | 3.64% | 121.24 | 116.99 |
| 6 | VLO 10.5 3/15/2039 | 10.50% | 03/15/39 | 3.59% | 174.76 | 168.70 |
| 7 | TRISTA 4.25 6/1/2046 | 4.25% | 06/01/46 | 3.31% | 108.67 | 105.19 |
| 8 | NEE 6.2 6/1/2036 | 6.20% | 06/01/36 | 3.24% | 139.95 | 135.55 |
| 9 | ETN 5.45 10/15/2034 | 5.45% | 10/15/34 | 3.22% | 128.83 | 124.81 |
| 10 | MO 4 2/4/2061 | 4.00% | 02/04/61 | 2.98% | 93.52 | 90.81 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 4/30/21 – 5/7/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | AESGEN 4.56 4/30/2025 | 4.56% | 04/30/25 | -5.83% | 75.16 | 79.81 |
| 2 | UFS 6.75 2/15/2044 | 6.75% | 02/15/44 | -4.71% | 122.49 | 128.55 |
| 3 | MS 5.5 6/26/2030 | 5.50% | 06/26/30 | -3.13% | 82.35 | 85.01 |
| 4 | STHSGR 3.5 10/19/2047 | 3.50% | 10/19/47 | -2.62% | 118.44 | 121.63 |
| 5 | JSCCGL 4.626 1/15/2042 | 4.63% | 01/15/42 | -2.44% | 117.51 | 120.46 |
| 6 | IENOVA 4.875 1/14/2048 REGS | 4.88% | 01/14/48 | -2.42% | 99.54 | 102.01 |
| 7 | GEBCB 4.875 5/15/2030 REGS | 4.88% | 05/15/30 | -2.38% | 107.33 | 109.94 |
| 8 | INTERF 0 5/15/1930 | 0.00% | 05/15/30 | -2.27% | 83.89 | 85.84 |
| 9 | BANGAN 4.875 4/21/2025 | 4.88% | 04/21/25 | -2.26% | 104.03 | 106.44 |
| 10 | NZGB 1.75 5/15/2041 | 1.75% | 05/15/41 | -2.16% | 86.69 | 88.60 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 4/30/21 – 5/7/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Metals & Mining | -266 bps | 1.55% | 4.21% |
| 2 | Consumer Goods: Durable | -60 bps | 0.80% | 1.40% |
| 3 | Beverage, Food & Tobacco | -33 bps | 0.98% | 1.31% |
| 4 | Media: Advertising, Printing & Publishing | -32 bps | 0.79% | 1.12% |
| 5 | Containers, Packaging, & Glass | -20 bps | 0.84% | 1.03% |
| 6 | Chemicals, Plastics & Rubber | -15 bps | 1.34% | 1.48% |
| 7 | Construction & Building | -15 bps | 1.17% | 1.31% |
| 8 | Utilities: Electric | -10 bps | 1.19% | 1.29% |
| 9 | Hotel, Gaming & Leisure | -9 bps | 2.95% | 3.04% |
| 10 | Transportation: Cargo | -9 bps | 1.32% | 1.41% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 4/30/21 – 5/7/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Sovereign & Public Finance | 48 bps | 1.21% | 0.73% |
| 2 | Media: Diversified & Production | 17 bps | 1.37% | 1.20% |
| 3 | Utilities: Water | 13 bps | 1.10% | 0.98% |
| 4 | Environmental Industries | 9 bps | 1.15% | 1.07% |
| 5 | Services: Business | 9 bps | 1.05% | 0.96% |
| 6 | Banking | 7 bps | 1.31% | 1.24% |
| 7 | Media: Broadcasting & Subscription | 5 bps | 1.45% | 1.40% |
| 8 | Finance | 4 bps | 1.49% | 1.45% |
| 9 | Services: Consumer | 1 bps | 1.98% | 1.97% |
| 10 | Utilities: Oil & Gas | 0 bps | 1.33% | 1.32% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 4/30/21 – 5/7/21
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 4/30/21 – 5/7/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/30/21 vs. the week ending 5/7/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | TSE 5.375 9/1/2025 REGS | 5.38% | 09/01/25 | 5 | 129 | 124 | 2480% |
| 2 | IFF 1.832 10/15/2027 REGS | 1.83% | 10/15/27 | 5 | 113 | 108 | 2160% |
| 3 | IFF 3.268 11/15/2040 REGS | 3.27% | 11/15/40 | 20 | 120 | 100 | 500% |
| 4 | PERTIJ 3.1 1/21/2030 REGS | 3.10% | 01/21/30 | 70 | 156 | 86 | 123% |
| 5 | HTZ 6.25 10/15/2022 | 6.25% | 10/15/22 | 47 | 131 | 84 | 179% |
| 6 | GLENLN 4.625 4/29/2024 REGS | 4.63% | 04/29/24 | 53 | 130 | 77 | 145% |
| 7 | NWL 4.2 4/1/2026 | 4.20% | 04/01/26 | 75 | 149 | 74 | 99% |
| 8 | HOTGR 0.625 4/26/2029 | 0.63% | 04/26/29 | 73 | 133 | 60 | 82% |
| 9 | SANUK 4 3/13/2024 | 4.00% | 03/13/24 | 40 | 95 | 55 | 138% |
| 10 | UBS 1.5 11/30/2024 | 1.50% | 11/30/24 | 160 | 215 | 55 | 34% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/30/21 – 5/7/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | HRINTH 5.5 1/16/2025 | 5.50% | 01/16/25 | 38 |
| 2 | BAC 2.687 4/22/2032 | 2.69% | 04/22/32 | 37 |
| 3 | ABBV 3.2 11/21/2029 | 3.20% | 11/21/29 | 37 |
| 4 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 36 |
| 5 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 36 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 7 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 36 |
| 8 | HRINTH 3.625 9/30/2030 | 3.63% | 09/30/30 | 36 |
| 9 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 36 |
| 10 | JPM 2.58 4/22/2032 | 2.58% | 04/22/32 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 4/30/21 – 5/7/21
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 4/30/21 – 5/7/21
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