Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 8/13/21

Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.

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Top 10 Winners

Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 8/6/21 – 8/13/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 HRINTH 4.25 PERP 4.25% 09/30/99 9.89% 54.83 49.89
2 AESGEN 4.56 4/30/2025 4.56% 04/30/25 6.22% 63.54 59.82
3 TOWHEA 4.451 2/1/2050 4.45% 02/01/50 4.51% 89.77 85.90
4 EDU 2.125 7/2/2025 2.13% 07/02/25 4.29% 88.37 84.74
5 TIPIM 2.5 12/5/2024 2.50% 12/05/24 2.78% 101.24 98.50
6 PTTGC 4.3 3/18/2051 REGS 4.30% 03/18/51 2.25% 109.71 107.30
7 MEITUA 3.05 10/28/2030 REGS 3.05% 10/28/30 2.05% 94.87 92.96
8 ABIBB 6.625 8/15/2033 6.63% 08/15/33 1.99% 141.52 138.76
9 CCAPGR 3.5 4/15/2023 3.50% 04/15/23 1.86% 92.51 90.82
10 HYDEH 1.75 8/18/2055 1.75% 08/18/55 1.86% 98.33 96.54

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 8/6/21 – 8/13/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ROK 5.2 1/15/2098 5.20% 01/15/98 -3.89% 145.10 150.98
2 TOPTB 5.375 11/20/2048 144A 5.38% 11/20/48 -3.89% 113.04 117.61
3 ANZ 3.4 12/20/2039 3.40% 12/20/39 -3.56% 95.46 98.98
4 RAGB 0.85 6/30/2020 0.85% 06/30/20 -3.55% 103.63 107.44
5 SVELEV 2.8 2/10/2051 REGS 2.80% 02/10/51 -3.52% 92.40 95.78
6 T 3.5 9/15/2053 REGS 3.50% 09/15/53 -3.38% 100.34 103.85
7 JHUNIV 2.813 1/1/2060 2.81% 01/01/60 -3.20% 101.30 104.65
8 PERUGB 5.35 8/12/2040 5.35% 08/12/40 -3.19% 77.18 79.72
9 CMS 4.35 8/31/2064 4.35% 08/31/64 -3.12% 127.50 131.60
10 ADM 6.95 12/15/2097 6.95% 12/15/97 -2.99% 183.49 189.15

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 8/6/21 – 8/13/21

RANK NAME CHANGE YLD YLD-1W
1 Energy: Electricity -27 bps 0.65% 0.92%
2 Media: Diversified & Production -12 bps 1.22% 1.34%
3 Transportation: Consumer -9 bps 2.01% 2.10%
4 Media: Advertising, Printing & Publishing -2 bps 0.86% 0.88%
5 Insurance -2 bps 1.26% 1.28%
6 Environmental Industries 1 bps 1.15% 1.14%
7 Wholesale 3 bps 1.42% 1.39%
8 Metals & Mining 4 bps 1.52% 1.48%
9 Forest Products & Paper 4 bps 0.89% 0.85%
10 Healthcare & Pharmaceuticals 6 bps 1.00% 0.94%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 8/6/21 – 8/13/21

RANK NAME CHANGE YLD YLD-1W
1 Sovereign & Public Finance 48 bps 1.18% 0.70%
2 Containers, Packaging, & Glass 36 bps 0.96% 0.60%
3 Consumer Goods: Non-Durable 33 bps 1.24% 0.91%
4 Services: Consumer 31 bps 2.14% 1.83%
5 Real Estate 31 bps 1.83% 1.52%
6 Finance 28 bps 1.47% 1.19%
7 Banking 26 bps 1.36% 1.10%
8 Retail 19 bps 1.57% 1.38%
9 Chemicals, Plastics & Rubber 19 bps 1.46% 1.27%
10 Utilities: Oil & Gas 18 bps 1.30% 1.11%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 8/6/21 – 8/13/21

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 8/6/21 – 8/13/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/6/21 vs. the week ending 8/13/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CCL 7.625 3/1/2026 REGS 7.63% 03/01/26 152 284 132 87%
2 AEP 2.75 8/15/2051 2.75% 08/15/51 68 160 92 135%
3 CMS 2.65 8/15/2052 2.65% 08/15/52 76 161 85 112%
4 XEL 3.2 3/1/2050 3.20% 03/01/50 128 200 72 56%
5 RF 2.25 5/18/2025 2.25% 05/18/25 152 214 62 41%
6 GE 0 10/15/2044 0.00% 10/15/44 9 70 61 678%
7 RPRX 3.55 9/2/2050 3.55% 09/02/50 1 62 61 6100%
8 BMW 0.75 3/8/2024 0.75% 03/08/24 150 209 59 39%
9 YRICN 4.95 7/15/2024 4.95% 07/15/24 32 82 50 156%
10 BACR 4.375 1/12/2026 4.38% 01/12/26 203 253 50 25%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 8/6/21 – 8/13/21

RANK TRANCHE COUPON MATURITY DEALERS
1 VZ 3.55 3/22/2051 3.55% 03/22/51 39
2 AAPL 1.65 2/8/2031 1.65% 02/08/31 39
3 VZ 2.55 3/21/2031 2.55% 03/21/31 38
4 AMZN 3.1 5/12/2051 3.10% 05/12/51 38
5 AAPL 1.7 8/5/2031 1.70% 08/05/31 38
6 T 2.25 2/1/2032 2.25% 02/01/32 37
7 AAPL 2.65 2/8/2051 2.65% 02/08/51 37
8 AAPL 1.2 2/8/2028 1.20% 02/08/28 36
9 UNH 2.3 5/15/2031 2.30% 05/15/31 36
10 AMZN 1.65 5/12/2028 1.65% 05/12/28 36

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 8/6/21 – 8/13/21

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 8/6/21 – 8/13/21

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