Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 7/30/21
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 7/23/21 – 7/30/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SARDIN 4.383 12/20/2034 | 4.38% | 12/20/34 | 6.15% | 122.07 | 115.00 |
| 2 | DU PONT E I DE NEMOURS & CO | 0.00% | 12/21/40 | 6.05% | 101.60 | 95.80 |
| 3 | PNSTTA 6.625 6/17/2031 | 6.63% | 06/17/31 | 4.59% | 96.75 | 92.50 |
| 4 | MSCCRU 3 7/14/2023 | 3.00% | 07/14/23 | 3.29% | 92.45 | 89.50 |
| 5 | MOLX 3.9 4/15/2025 | 3.90% | 04/15/25 | 3.25% | 106.50 | 103.15 |
| 6 | BRKHEC 3.9 11/15/2049 144A | 3.90% | 11/15/49 | 2.82% | 111.42 | 108.36 |
| 7 | AIG 6.82 11/15/2037 | 6.82% | 11/15/37 | 2.70% | 143.96 | 140.18 |
| 8 | PEMEX 9.5 9/15/2027 | 9.50% | 09/15/27 | 2.62% | 115.53 | 112.58 |
| 9 | USCTRJ 3.226 10/1/2120 | 3.23% | 10/01/20 | 2.55% | 105.49 | 102.87 |
| 10 | TELVIS 6.625 1/15/2040 | 6.63% | 01/15/40 | 2.26% | 143.40 | 140.22 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 7/23/21 – 7/30/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | EDU 2.125 7/2/2025 | 2.13% | 07/02/25 | -6.20% | 86.24 | 91.93 |
| 2 | MEITUA 3.05 10/28/2030 REGS | 3.05% | 10/28/30 | -5.21% | 93.40 | 98.53 |
| 3 | PERU 3.23 7/28/2021 | 3.23% | 07/28/21 | -4.81% | 83.81 | 88.05 |
| 4 | TENCNT 3.29 6/3/2060 144A | 3.29% | 06/03/60 | -4.32% | 96.35 | 100.70 |
| 5 | SHIMAO 5.6 7/15/2026 | 5.60% | 07/15/26 | -3.99% | 101.86 | 106.09 |
| 6 | PETRPE 5.625 6/19/2047 | 5.63% | 06/19/47 | -3.93% | 103.17 | 107.40 |
| 7 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | -3.43% | 97.48 | 100.94 |
| 8 | RAKUTN 6.25 PERP 144A | 6.25% | 12/31/99 | -2.63% | 103.33 | 106.12 |
| 9 | PRXNA 4.027 8/3/2050 144A | 4.03% | 08/03/50 | -2.61% | 95.44 | 98.00 |
| 10 | PCG 5.25 7/1/2030 | 5.25% | 07/01/30 | -2.44% | 97.22 | 99.65 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 7/23/21 – 7/30/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Services: Consumer | -84 bps | 0.98% | 1.82% |
| 2 | Services: Business | -30 bps | 0.45% | 0.76% |
| 3 | Consumer Goods: Non-Durable | -25 bps | 0.78% | 1.03% |
| 4 | Consumer Goods: Durable | -13 bps | 0.66% | 0.79% |
| 5 | Wholesale | -10 bps | 1.30% | 1.41% |
| 6 | Transportation: Consumer | -9 bps | 1.94% | 2.03% |
| 7 | Aerospace & Defense | -8 bps | 1.55% | 1.64% |
| 8 | Hotel, Gaming & Leisure | -8 bps | 2.48% | 2.56% |
| 9 | Chemicals, Plastics & Rubber | -8 bps | 1.28% | 1.36% |
| 10 | Beverage, Food & Tobacco | -7 bps | 0.84% | 0.91% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 7/23/21 – 7/30/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | 60 bps | 1.24% | 0.64% |
| 2 | Energy: Electricity | 44 bps | 1.04% | 0.60% |
| 3 | Real Estate | 30 bps | 1.81% | 1.52% |
| 4 | Media: Advertising, Printing & Publishing | 26 bps | 1.20% | 0.95% |
| 5 | Sovereign & Public Finance | 21 bps | 1.00% | 0.79% |
| 6 | Metals & Mining | 20 bps | 1.69% | 1.49% |
| 7 | Banking | 17 bps | 1.30% | 1.13% |
| 8 | Environmental Industries | 15 bps | 1.06% | 0.92% |
| 9 | Finance | 12 bps | 1.37% | 1.25% |
| 10 | Retail | 10 bps | 1.47% | 1.37% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 7/23/21 – 7/30/21
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 7/23/21 – 7/30/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/23/21 vs. the week ending 7/30/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MAR 3.125 10/15/2021 | 3.13% | 10/15/21 | 50 | 114 | 64 | 128% |
| 2 | GE 0 5/1/2051 | 0.00% | 05/01/51 | 29 | 85 | 56 | 193% |
| 3 | APH 3.125 9/15/2021 | 3.13% | 09/15/21 | 37 | 90 | 53 | 143% |
| 4 | COF 2.28 1/28/2026 | 2.28% | 01/28/26 | 104 | 152 | 48 | 46% |
| 5 | GE 0 9/8/2055 | 0.00% | 09/08/55 | 32 | 80 | 48 | 150% |
| 6 | TELEFO 1.93 10/17/2031 | 1.93% | 10/17/31 | 185 | 230 | 45 | 24% |
| 7 | CKINF 4 3/9/2027 | 4.00% | 03/09/27 | 6 | 50 | 44 | 733% |
| 8 | COF 2.65 8/8/2022 | 2.65% | 08/08/22 | 80 | 122 | 42 | 53% |
| 9 | JCI 3.75 12/1/2021 | 3.75% | 12/01/21 | 5 | 46 | 41 | 820% |
| 10 | CMCSA 0.75 2/20/2032 | 0.75% | 02/20/32 | 130 | 170 | 40 | 31% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 7/23/21 – 7/30/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 2 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 3 | AAPL 2.65 2/8/2051 | 2.65% | 02/08/51 | 36 |
| 4 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 35 |
| 5 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 35 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 35 |
| 7 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 34 |
| 8 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 34 |
| 9 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 33 |
| 10 | ABBV 4.25 11/21/2049 | 4.25% | 11/21/49 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 7/23/21 – 7/30/21
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 7/23/21 – 7/30/21
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