Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 6/17/22

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 6/17/22, issue size of $50 million and larger

ISSUE COLLATERAL TYPE AMT ISSUED (MM) PX AT ISSUANCE YIELD AT ISSUANCE (%) SPREAD AT ISSUE
Altair Engineering Inc. (USD) 1.75% 6/15/2027 N/A 200 100 N/A N/A
Societe Generale SA (USD) 4.351% 6/13/2025 N/A 600 100 4.35 140
Citigroup Global Markets (USD) 1.526% 7/10/2023 Senior Notes 250 100 1.53 N/A
CPPIB Capital Inc (USD) 3.25% 6/15/2027 N/A 1500 99.739 3.31 31

Top 10 Winners

Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 6/10/22 – 6/17/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 GAZPRU 2.25 7/19/2022 2.25% 07/19/22 13.25% 81.38 71.86
2 ORPFP 2.625 3/10/2025 2.63% 03/10/25 9.41% 68.98 63.05
3 SRENVX 4.25 12/6/2042 4.25% 12/06/42 7.28% 105.77 98.60
4 COLLIN 0 11/23/2023 4.47% 11/23/23 3.81% 94.50 91.03
5 LUKOIL 3.6 10/26/2031 REGS 3.60% 10/26/31 3.71% 50.27 48.48
6 MRWLN 4.75 7/4/2029 4.75% 07/04/29 3.13% 98.22 95.25
7 ADJGR 1.5 7/26/2024 1.50% 07/26/24 3.12% 66.40 64.39
8 VLVY 0 2/22/2024 0.00% 02/22/24 2.56% 99.18 96.70
9 CE 1.4 8/5/2026 1.40% 08/05/26 2.07% 89.46 87.65
10 COGARD 4.75 7/25/2022 4.75% 07/25/22 1.92% 99.06 97.19

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 6/10/22 – 6/17/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SINOCE 5.95 2/4/2027 5.95% 02/04/27 -20.55% 53.22 66.99
2 RWT 7.75 6/15/2027 7.75% 06/15/27 -14.92% 83.07 97.63
3 ENAPAN 4 5/19/2048 REGS 4.00% 05/19/48 -14.53% 73.04 85.45
4 ROMANI 3.375 1/28/2050 144A 3.38% 01/28/50 -12.49% 60.90 69.59
5 HGB 4 4/28/2051 4.00% 04/28/51 -11.99% 52.71 59.89
6 DBHNGR 0.625 12/8/2050 0.63% 12/08/50 -11.82% 50.00 56.70
7 AIA 4.47 5/23/2047 4.47% 05/23/47 -10.80% 80.96 90.75
8 RTEFRA 1.125 9/9/2049 1.13% 09/09/49 -10.32% 55.80 62.22
9 NGGLN 0.872 11/26/2040 0.87% 11/26/40 -10.31% 56.79 63.32
10 VW 1.5 1/21/2041 1.50% 01/21/41 -10.12% 63.27 70.39

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 6/10/22 – 6/17/22

RANK INDUSTRY CHANGE YLD YLD-1W
1 Transportation: Cargo -106 bps 4.55% 5.61%
2 Healthcare & Pharmaceuticals 25 bps 4.03% 3.78%
3 Chemicals, Plastics & Rubber 26 bps 4.61% 4.35%
4 Energy: Oil & Gas 27 bps 4.82% 4.55%
5 Capital Equipment 34 bps 3.91% 3.57%
6 Media: Broadcasting & Subscription 34 bps 4.32% 3.98%
7 Environmental Industries 36 bps 4.20% 3.84%
8 Consumer Goods: Durable 37 bps 3.76% 3.39%
9 Utilities: Electric 37 bps 4.38% 4.02%
10 Media: Diversified & Production 37 bps 4.41% 4.04%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 6/10/22 – 6/17/22

RANK INDUSTRY CHANGE YLD YLD-1W
1 Hotel, Gaming & Leisure 79 bps 5.23% 4.43%
2 Sovereign & Public Finance 79 bps 4.49% 3.70%
3 Utilities: Oil & Gas 71 bps 5.11% 4.40%
4 Metals & Mining 69 bps 4.96% 4.27%
5 Telecommunications 65 bps 5.62% 4.98%
6 Real Estate 64 bps 5.54% 4.91%
7 Insurance 61 bps 4.69% 4.08%
8 Construction & Building 59 bps 4.33% 3.74%
9 Containers, Packaging, & Glass 57 bps 4.50% 3.94%
10 Energy: Electricity 55 bps 3.88% 3.33%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 6/10/22 – 6/17/22

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 6/10/22 – 6/17/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/10/22 vs. the week ending 6/17/22

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GM 5 3/20/2027 5.00% 03/20/27 49 127 78 159%
2 ENELIM 1.375 PERP 1.38% 03/08/99 107 180 73 68%
3 GDCOMM 2.358 1/25/2027 2.36% 01/25/27 69 125 56 81%
4 ONCRTX 4.6 6/1/2052 144A 4.60% 06/01/52 208 260 52 25%
5 ZJEXPC 1.638 7/14/2026 1.64% 07/14/26 98 145 47 48%
6 BUPFIN 4 PERP 4.00% 03/24/99 76 123 47 62%
7 EDPPL 1.875 3/14/2082 1.88% 03/14/82 123 164 41 33%
8 VZ 3.15 3/22/2030 3.15% 03/22/30 223 264 41 18%
9 PCAR 0.5 8/9/2024 0.50% 08/09/24 60 100 40 67%
10 SINOCE 5.95 2/4/2027 5.95% 02/04/27 146 184 38 26%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 6/10/22 – 6/17/22

RANK TRANCHE COUPON MATURITY DEALERS
1 AMZN 3.6 4/13/2032 3.60% 04/13/32 40
2 AMZN 3.3 4/13/2027 3.30% 04/13/27 39
3 AMZN 2.1 5/12/2031 2.10% 05/12/31 38
4 AMZN 1.65 5/12/2028 1.65% 05/12/28 36
5 AMZN 3.95 4/13/2052 3.95% 04/13/52 36
6 ORCL 2.875 3/25/2031 2.88% 03/25/31 36
7 AMZN 2.875 5/12/2041 2.88% 05/12/41 36
8 AAPL 1.7 8/5/2031 1.70% 08/05/31 36
9 AAPL 1.65 2/8/2031 1.65% 02/08/31 35
10 DIS 2.65 1/13/2031 2.65% 01/13/31 35

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 6/10/22 – 6/17/22

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 6/10/22 – 6/17/22

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