Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 8/6/21
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 7/30/21 – 8/6/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | AESGEN 4.56 4/30/2025 | 4.56% | 04/30/25 | 6.57% | 59.82 | 56.14 |
| 2 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | 4.85% | 98.62 | 94.06 |
| 3 | VW 3.4 1/30/2034 | 3.40% | 01/30/34 | 4.20% | 125.08 | 120.04 |
| 4 | PERU 3.23 7/28/2121 | 3.23% | 07/28/21 | 4.06% | 87.22 | 83.81 |
| 5 | IBRD 0.2 1/21/2061 | 0.20% | 01/21/61 | 3.86% | 93.41 | 89.94 |
| 6 | HRINTH 2.2 9/20/2021 | 2.20% | 09/20/21 | 3.45% | 96.96 | 93.72 |
| 7 | CMCSA 6.4 3/1/2040 | 6.40% | 03/01/40 | 3.35% | 155.26 | 150.23 |
| 8 | RABOBK 6.5 12/29/2049 | 6.50% | 12/29/49 | 2.96% | 142.39 | 138.30 |
| 9 | MMP 6.4 5/1/2037 | 6.40% | 05/01/37 | 2.94% | 136.21 | 132.31 |
| 10 | UNCOLO 1.625 6/4/2061 | 1.63% | 06/04/61 | 2.64% | 110.34 | 107.50 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 7/30/21 – 8/6/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | Q 0.75 12/13/2024 | 0.75% | 12/13/24 | -3.29% | 100.95 | 104.39 |
| 2 | MEITUA 2.125 10/28/2025 144A | 2.13% | 10/28/25 | -3.07% | 96.42 | 99.47 |
| 3 | LVS 3.9 8/8/2029 | 3.90% | 08/08/29 | -2.89% | 103.03 | 106.10 |
| 4 | PH 4 6/14/2049 | 4.00% | 06/14/49 | -2.87% | 117.90 | 121.39 |
| 5 | AMGN 3.375 2/21/2050 | 3.38% | 02/21/50 | -2.87% | 105.23 | 108.34 |
| 6 | PTTTB 3.7 7/16/2070 REGS | 3.70% | 07/16/70 | -2.65% | 98.96 | 101.65 |
| 7 | ED 3 12/1/2060 | 3.00% | 12/01/60 | -2.54% | 94.06 | 96.52 |
| 8 | RCICN 4.35 5/1/2049 | 4.35% | 05/01/49 | -2.54% | 116.00 | 119.01 |
| 9 | ATRSAV 2.625 9/5/2027 | 2.63% | 09/05/27 | -2.53% | 106.01 | 108.76 |
| 10 | CMCSA 2.65 8/15/2062 | 2.65% | 08/15/62 | -2.47% | 92.05 | 94.39 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 7/30/21 – 8/6/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | -88 bps | 0.47% | 1.34% |
| 2 | Capital Equipment | -87 bps | 0.62% | 1.48% |
| 3 | Media: Advertising, Printing & Publishing | -35 bps | 0.56% | 0.91% |
| 4 | Energy: Electricity | -18 bps | 0.87% | 1.05% |
| 5 | Metals & Mining | -17 bps | 1.52% | 1.69% |
| 6 | Consumer Goods: Non-Durable | -16 bps | 0.87% | 1.02% |
| 7 | Construction & Building | -15 bps | 0.78% | 0.93% |
| 8 | Consumer Goods: Durable | -11 bps | 0.67% | 0.77% |
| 9 | Insurance | -9 bps | 1.26% | 1.34% |
| 10 | Forest Products & Paper | -8 bps | 0.78% | 0.86% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 7/30/21 – 8/6/21
| 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 7/30/21 – 8/6/21
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 7/30/21 – 8/6/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/30/21 vs. the week ending 8/6/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ROMANI 1.75 7/13/2030 REGS | 1.75% | 07/13/30 | 32 | 170 | 138 | 431% |
| 2 | PERU 3.23 7/28/2121 | 3.23% | 07/28/21 | 92 | 229 | 137 | 149% |
| 3 | ROMANI 2.875 4/13/2042 REGS | 2.88% | 04/13/42 | 30 | 165 | 135 | 450% |
| 4 | BCHINA 0.8 4/28/2024 | 0.80% | 04/28/24 | 140 | 225 | 85 | 61% |
| 5 | SDBC 1.25 1/21/2023 | 1.25% | 01/21/23 | 71 | 149 | 78 | 110% |
| 6 | BCHINA 0 4/28/2024 | 0.59% | 04/28/24 | 78 | 144 | 66 | 85% |
| 7 | LITHUN 0.75 7/15/2051 | 0.75% | 07/15/51 | 16 | 79 | 63 | 394% |
| 8 | CCL 7.625 3/1/2026 REGS | 7.63% | 03/01/26 | 90 | 152 | 62 | 69% |
| 9 | CS 0 8/9/2023 | 0.50% | 08/09/23 | 5 | 59 | 54 | 1080% |
| 10 | ILDFP 0.625 11/25/2021 | 0.63% | 11/25/21 | 92 | 140 | 48 | 52% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 7/30/21 – 8/6/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 38 |
| 2 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 37 |
| 3 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 36 |
| 4 | AAPL 2.65 2/8/2051 | 2.65% | 02/08/51 | 36 |
| 5 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 36 |
| 6 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 36 |
| 7 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 35 |
| 8 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 34 |
| 9 | AAPL 1.2 2/8/2028 | 1.20% | 02/08/28 | 34 |
| 10 | VZ 3.7 3/22/2061 | 3.70% | 03/22/61 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 7/30/21 – 8/6/21
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 7/30/21 – 8/6/21
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