Investment Grade Corporate Bond Market Summary – Week Ending 8/26/22
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Investment Grade Corporate Bond Market Summary: Week Ending 8/26/22
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 8/26/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Swedish Export Credit (USD) 3.625% 9/3/2024 | Senior Notes | 1250 | 99.935 | 3.66 | N/A |
| PRICOA Global Funding I (USD) 4.2% 8/28/2025 | N/A | 350 | N/A | N/A | N/A |
| MassMutual Global Funding II (USD) 4.15% 8/26/2025 | N/A | 600 | 99.897 | N/A | N/A |
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 8/19/22 – 8/26/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SINOCE 6 7/30/2024 | 6.00% | 07/30/24 | 27.17% | 51.43 | 40.44 |
| 2 | COGARD 6.5 4/8/2024 | 6.50% | 04/08/24 | 15.37% | 54.55 | 47.28 |
| 3 | SHUION 5.5 6/29/2026 | 5.50% | 06/29/26 | 14.25% | 67.79 | 59.34 |
| 4 | CPDEV 3.85 7/14/2025 | 3.85% | 07/14/25 | 12.33% | 82.05 | 73.04 |
| 5 | ANSALD 2.75 5/31/2024 | 2.75% | 05/31/24 | 12.08% | 95.58 | 85.28 |
| 6 | LNGFOR 3.85 1/13/2032 | 3.85% | 01/13/32 | 11.45% | 72.98 | 65.48 |
| 7 | CHJMAO 4.25 7/23/2029 | 4.25% | 07/23/29 | 11.13% | 74.62 | 67.15 |
| 8 | PORTUG 5.125 10/15/2024 | 5.13% | 10/15/24 | 7.74% | 110.77 | 102.81 |
| 9 | GLPCHI 2.95 3/29/2026 | 2.95% | 03/29/26 | 6.83% | 80.25 | 75.12 |
| 10 | VNKRLE 3.5 11/12/2029 | 3.50% | 11/12/29 | 6.44% | 76.51 | 71.88 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 8/19/22 – 8/26/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | TOLHOS 5.325 11/15/2028 | 5.33% | 11/15/28 | -17.40% | 62.09 | 75.16 |
| 2 | DUK 2.799 7/1/2041 | 2.80% | 07/01/41 | -12.65% | 73.64 | 84.31 |
| 3 | ANNGR 1.625 9/1/2051 | 1.63% | 09/01/51 | -9.10% | 55.43 | 60.98 |
| 4 | SNCF 1 1/19/2061 | 1.00% | 01/19/61 | -8.71% | 52.93 | 57.98 |
| 5 | SVTLN 1.457 8/1/2058 | 1.46% | 08/01/58 | -8.34% | 106.04 | 115.70 |
| 6 | WALLOO 1.25 6/22/2071 | 1.25% | 06/22/71 | -7.72% | 59.54 | 64.51 |
| 7 | EFSF 0.7 1/20/2050 | 0.70% | 01/20/50 | -7.59% | 66.97 | 72.47 |
| 8 | EXOIM 3.125 2/15/2038 | 3.13% | 02/15/38 | -7.28% | 86.54 | 93.34 |
| 9 | DDCFDN 2.345 7/1/2050 | 2.35% | 07/01/50 | -7.14% | 63.12 | 67.97 |
| 10 | KEL 1.46 8/1/2056 | 1.46% | 08/01/56 | -7.10% | 108.17 | 116.44 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 8/19/22 – 8/26/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -14 bps | 4.34% | 4.48% |
| 2 | Energy: Oil & Gas | -4 bps | 5.07% | 5.11% |
| 3 | Consumer Goods: Non-Durable | 2 bps | 3.55% | 3.53% |
| 4 | Services: Consumer | 8 bps | 5.29% | 5.21% |
| 5 | Metals & Mining | 9 bps | 4.55% | 4.47% |
| 6 | Beverage, Food & Tobacco | 12 bps | 3.73% | 3.61% |
| 7 | Insurance | 13 bps | 4.47% | 4.35% |
| 8 | Real Estate | 13 bps | 5.31% | 5.18% |
| 9 | Consumer Goods: Durable | 17 bps | 3.40% | 3.23% |
| 10 | Hotel, Gaming & Leisure | 17 bps | 4.95% | 4.77% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 8/19/22 – 8/26/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Cargo | 134 bps | 6.49% | 5.14% |
| 2 | Aerospace & Defense | 90 bps | 5.80% | 4.89% |
| 3 | Energy: Electricity | 71 bps | 4.06% | 3.35% |
| 4 | Capital Equipment | 69 bps | 4.11% | 3.41% |
| 5 | Chemicals, Plastics & Rubber | 66 bps | 5.02% | 4.36% |
| 6 | Utilities: Water | 60 bps | 3.98% | 3.39% |
| 7 | Containers, Packaging, & Glass | 54 bps | 4.65% | 4.11% |
| 8 | Transportation: Consumer | 53 bps | 5.48% | 4.95% |
| 9 | High Tech Industries | 51 bps | 4.42% | 3.91% |
| 10 | Finance | 48 bps | 4.58% | 4.10% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 8/19/22 – 8/26/22 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 8/19/22 – 8/26/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/19/22 vs. the week ending 8/26/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NAB 3.905 6/9/2027 | 3.91% | 06/09/27 | 56 | 258 | 202 | 361% |
| 2 | KEY 4.789 6/1/2033 | 4.79% | 06/01/33 | 26 | 218 | 192 | 738% |
| 3 | CS 5 6/30/2027 | 5.00% | 06/30/27 | 24 | 130 | 106 | 442% |
| 4 | CS 4.75 6/19/2024 | 4.75% | 06/19/24 | 11 | 101 | 90 | 818% |
| 5 | CL 3.25 8/15/2032 | 3.25% | 08/15/32 | 187 | 269 | 82 | 44% |
| 6 | NAB 3.5 6/9/2025 | 3.50% | 06/09/25 | 155 | 232 | 77 | 50% |
| 7 | SOCGEN 4.351 6/13/2025 REGS | 4.35% | 06/13/25 | 35 | 111 | 76 | 217% |
| 8 | SANLTD 2.85 3/8/2029 | 2.85% | 03/08/29 | 175 | 216 | 41 | 23% |
| 9 | UKRAIL 1.75 11/22/2027 | 1.75% | 11/22/27 | 10 | 50 | 40 | 400% |
| 10 | CHPWCN 4.3 PERP | 4.30% | 06/20/99 | 162 | 202 | 40 | 25% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 8/19/22 – 8/26/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AAPL 3.35 8/8/2032 | 3.35% | 08/08/32 | 40 |
| 2 | AAPL 3.95 8/8/2052 | 3.95% | 08/08/52 | 40 |
| 3 | INTC 4.15 8/5/2032 | 4.15% | 08/05/32 | 38 |
| 4 | AMZN 3.6 4/13/2032 | 3.60% | 04/13/32 | 37 |
| 5 | BACR 8 PERP | 8.00% | 12/15/99 | 37 |
| 6 | DIS 3.6 1/13/2051 | 3.60% | 01/13/51 | 37 |
| 7 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 36 |
| 8 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
| 9 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 36 |
| 10 | HD 3.25 4/15/2032 | 3.25% | 04/15/32 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 8/19/22 – 8/26/22 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 8/19/22 – 8/26/22
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