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.
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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