Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 7/16/21
Our newsletter presents key trends derived from observable 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 7/9/21 – 7/16/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | DOW 7.75 10/1/2096 | 7.75% | 10/01/96 | 8.05% | 178.77 | 165.45 |
| 2 | HRINTH 4.25 PERP | 4.25% | 09/30/99 | 7.47% | 52.69 | 49.03 |
| 3 | GGICS 9.5 12/18/2032 REGS | 9.50% | 12/18/32 | 5.60% | 72.90 | 69.04 |
| 4 | MOLISE 0 12/15/2033 | 0.00% | 12/15/33 | 5.19% | 75.52 | 71.80 |
| 5 | SLVBCK 3.7529 5/25/2039 | 3.75% | 05/25/39 | 3.50% | 104.35 | 100.83 |
| 6 | CARGIL 7.25 11/1/2036 | 7.25% | 11/01/36 | 3.46% | 142.87 | 138.09 |
| 7 | RAGB 0.85 6/30/2020 | 0.85% | 06/30/20 | 3.18% | 100.52 | 97.43 |
| 8 | FDX 7.6 7/1/2097 | 7.60% | 07/01/97 | 3.05% | 178.61 | 173.32 |
| 9 | CCAPGR 3.5 4/15/2023 | 3.50% | 04/15/23 | 2.99% | 88.51 | 85.95 |
| 10 | LYB 3.8 10/1/2060 | 3.80% | 10/01/60 | 2.83% | 109.02 | 106.02 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 7/9/21 – 7/16/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | PTTGC 4.3 3/18/2051 REGS | 4.30% | 03/18/51 | -2.58% | 108.04 | 110.90 |
| 2 | TELEFO 7.375 4/10/2027 REGS | 7.38% | 04/10/27 | -2.33% | 94.75 | 97.01 |
| 3 | UFS 6.25 9/1/2042 | 6.25% | 09/01/42 | -2.29% | 107.32 | 109.83 |
| 4 | AESGEN 5.5 5/14/2027 REGS | 5.50% | 05/14/27 | -1.99% | 100.11 | 102.14 |
| 5 | ROMGB 4.25 4/28/2036 | 4.25% | 04/28/36 | -1.82% | 98.20 | 100.02 |
| 6 | TOPTB 4.625 11/20/2028 144A | 4.63% | 11/20/28 | -1.61% | 112.75 | 114.60 |
| 7 | DTE 6.625 6/1/2036 | 6.63% | 06/01/36 | -1.55% | 146.37 | 148.68 |
| 8 | LMT 7.75 5/1/2026 | 7.75% | 05/01/26 | -1.43% | 127.86 | 129.72 |
| 9 | ETR 5 7/15/2044 | 5.00% | 07/15/44 | -1.39% | 109.81 | 111.35 |
| 10 | PEMEX 6.95 1/28/2060 | 6.95% | 01/28/60 | -1.32% | 88.52 | 89.70 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 7/9/21 – 7/16/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Media: Diversified & Production | -18 bps | 1.06% | 1.25% |
| 2 | Hotel, Gaming & Leisure | -16 bps | 2.70% | 2.86% |
| 3 | Services: Consumer | -12 bps | 1.76% | 1.88% |
| 4 | Transportation: Consumer | -7 bps | 1.97% | 2.05% |
| 5 | Forest Products & Paper | -6 bps | 0.94% | 1.00% |
| 6 | Automotive | -5 bps | 0.96% | 1.01% |
| 7 | Services: Business | -3 bps | 0.76% | 0.79% |
| 8 | Telecommunications | -3 bps | 1.02% | 1.05% |
| 9 | Construction & Building | -2 bps | 1.10% | 1.12% |
| 10 | Insurance | -2 bps | 1.30% | 1.32% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 7/9/21 – 7/16/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | 64 bps | 1.62% | 0.98% |
| 2 | Sovereign & Public Finance | 41 bps | 1.27% | 0.86% |
| 3 | Energy: Electricity | 40 bps | 1.13% | 0.74% |
| 4 | Banking | 17 bps | 1.28% | 1.11% |
| 5 | Environmental Industries | 16 bps | 1.15% | 0.99% |
| 6 | Transportation: Cargo | 15 bps | 1.39% | 1.24% |
| 7 | Metals & Mining | 14 bps | 1.57% | 1.43% |
| 8 | Finance | 14 bps | 1.41% | 1.27% |
| 9 | Utilities: Water | 11 bps | 1.09% | 0.98% |
| 10 | Utilities: Oil & Gas | 8 bps | 1.25% | 1.17% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 7/9/21 – 7/16/21
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 7/9/21 – 7/16/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/921 vs. the week ending 7/16/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ORAFP 0 6/29/2026 | 0.00% | 06/29/26 | 146 | 205 | 59 | 40% |
| 2 | ENELIM 1.375 6/1/2026 | 1.38% | 06/01/26 | 214 | 262 | 48 | 22% |
| 3 | NWUNI 2.64 12/1/2050 | 2.64% | 12/01/50 | 59 | 102 | 43 | 73% |
| 4 | CRM 1.95 7/15/2031 | 1.95% | 07/15/31 | 276 | 318 | 42 | 15% |
| 5 | MIZUHO 1.241 7/10/2024 | 1.24% | 07/10/24 | 190 | 230 | 40 | 21% |
| 6 | MASSIN 2.989 7/1/2050 | 2.99% | 07/01/50 | 65 | 105 | 40 | 62% |
| 7 | MUFG 3.761 7/26/2023 | 3.76% | 07/26/23 | 203 | 241 | 38 | 19% |
| 8 | SBUX 2 3/12/2027 | 2.00% | 03/12/27 | 190 | 226 | 36 | 19% |
| 9 | SYY 6.6 4/1/2050 | 6.60% | 04/01/50 | 187 | 222 | 35 | 19% |
| 10 | AL 0.7 2/15/2024 | 0.70% | 02/15/24 | 172 | 206 | 34 | 20% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 7/9/21 – 7/16/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 39 |
| 2 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 38 |
| 3 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 4 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 36 |
| 5 | LOW 2.625 4/1/2031 | 2.63% | 04/01/31 | 35 |
| 6 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 35 |
| 7 | UNH 2.3 5/15/2031 | 2.30% | 05/15/31 | 35 |
| 8 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 35 |
| 9 | ABBV 4.25 11/21/2049 | 4.25% | 11/21/49 | 35 |
| 10 | UNH 3.25 5/15/2051 | 3.25% | 05/15/51 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 7/9/21 – 7/16/21
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 7/9/21 – 7/16/21
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