Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 9/10/21
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 9/3/21 – 9/10/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | EIX 3.9 12/1/2041 | 3.90% | 12/01/41 | 3.59% | 104.25 | 100.64 |
| 2 | PACLIF 9.25 6/15/2039 | 9.25% | 06/15/39 | 3.08% | 169.07 | 164.03 |
| 3 | UPENN 4.674 9/1/2112 | 4.67% | 09/01/12 | 2.88% | 148.70 | 144.54 |
| 4 | WMT 4.75 10/2/2043 | 4.75% | 10/02/43 | 2.75% | 136.35 | 132.70 |
| 5 | PEMEX 6.35 2/12/2048 | 6.35% | 02/12/48 | 2.20% | 87.01 | 85.13 |
| 6 | GLJGR 0.244 10/10/2022 | 0.24% | 10/10/22 | 2.10% | 97.04 | 95.04 |
| 7 | ASH 2 1/30/2028 REGS | 2.00% | 01/30/28 | 2.02% | 104.83 | 102.75 |
| 8 | SAKAEI 4.45 5/5/2024 | 4.45% | 05/05/24 | 1.95% | 98.09 | 96.21 |
| 9 | PEG 8.625 4/15/2031 | 8.63% | 04/15/31 | 1.90% | 160.47 | 157.47 |
| 10 | EZJLN 1.875 3/3/2028 | 1.88% | 03/03/28 | 1.89% | 103.07 | 101.15 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 9/3/21 – 9/10/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CMI 5.65 3/1/2098 | 5.65% | 03/01/98 | -2.74% | 142.45 | 146.45 |
| 2 | PRGO 4.9 12/15/2044 | 4.90% | 12/15/44 | -2.63% | 104.17 | 106.99 |
| 3 | UU 1.585 7/12/2057 | 1.59% | 07/12/57 | -2.42% | 217.87 | 223.27 |
| 4 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -2.23% | 90.73 | 92.80 |
| 5 | BTPCL 5 3/1/2035 | 5.00% | 03/01/35 | -2.22% | 95.53 | 97.69 |
| 6 | EXIMCH 0 10/15/2024 | 0.00% | 10/15/24 | -2.19% | 100.07 | 102.31 |
| 7 | PERUGB 5.4 8/12/2034 | 5.40% | 08/12/34 | -2.02% | 86.91 | 88.71 |
| 8 | TECD 4.95 2/15/2027 | 4.95% | 02/15/27 | -1.87% | 125.65 | 128.04 |
| 9 | KSS 6 1/15/2033 | 6.00% | 01/15/33 | -1.68% | 119.54 | 121.59 |
| 10 | ADJGR 2.25 1/14/2029 | 2.25% | 01/14/29 | -1.67% | 94.53 | 96.14 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 9/3/21 – 9/10/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Media: Advertising, Printing & Publishing | -43 bps | 0.61% | 1.03% |
| 2 | Capital Equipment | -32 bps | 0.87% | 1.18% |
| 3 | Services: Consumer | -25 bps | 2.13% | 2.38% |
| 4 | Services: Business | -16 bps | 0.57% | 0.73% |
| 5 | Transportation: Cargo | -11 bps | 1.33% | 1.44% |
| 6 | Banking | -10 bps | 1.17% | 1.27% |
| 7 | Finance | -8 bps | 1.28% | 1.36% |
| 8 | Insurance | -7 bps | 1.33% | 1.40% |
| 9 | Containers, Packaging, & Glass | -5 bps | 1.29% | 1.34% |
| 10 | Real Estate | -5 bps | 1.59% | 1.65% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 9/3/21 – 9/10/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Media: Diversified & Production | 36 bps | 1.37% | 1.02% |
| 2 | Energy: Electricity | 29 bps | 0.94% | 0.65% |
| 3 | Consumer Goods: Durable | 29 bps | 1.00% | 0.71% |
| 4 | Hotel, Gaming & Leisure | 20 bps | 3.02% | 2.82% |
| 5 | Chemicals, Plastics & Rubber | 14 bps | 1.31% | 1.17% |
| 6 | Utilities: Water | 11 bps | 0.97% | 0.86% |
| 7 | Utilities: Oil & Gas | 9 bps | 1.35% | 1.26% |
| 8 | Media: Broadcasting & Subscription | 5 bps | 1.45% | 1.39% |
| 9 | Automotive | 5 bps | 1.08% | 1.02% |
| 10 | Telecommunications | 5 bps | 1.06% | 1.01% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/3/21 – 9/10/21
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 9/3/21 – 9/10/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/3/21 vs. the week ending 9/10/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SDBC 0.625 1/12/2024 | 0.63% | 01/12/24 | 144 | 221 | 77 | 53% |
| 2 | CABKSM 3.625 10/5/2016 | 3.63% | 10/05/16 | 35 | 110 | 75 | 214% |
| 3 | VZ 1.45 3/20/2026 | 1.45% | 03/20/26 | 298 | 362 | 64 | 21% |
| 4 | BMO 1 2/6/2026 | 1.00% | 02/06/26 | 22 | 76 | 54 | 245% |
| 5 | TD 0 3/17/2026 | 0.66% | 03/17/26 | 20 | 62 | 42 | 210% |
| 6 | HNDA 0.75 1/17/2024 | 0.75% | 01/17/24 | 145 | 187 | 42 | 29% |
| 7 | HOLNSW 0.625 1/19/2033 | 0.63% | 01/19/33 | 105 | 145 | 40 | 38% |
| 8 | PPL 3.1 5/15/2026 | 3.10% | 05/15/26 | 178 | 218 | 40 | 22% |
| 9 | XEL 3.2 3/1/2050 | 3.20% | 03/01/50 | 165 | 200 | 35 | 21% |
| 10 | BFCM 1 11/13/2026 | 1.00% | 11/13/26 | 20 | 54 | 34 | 170% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/3/21 – 9/10/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 40 |
| 2 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 40 |
| 3 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 40 |
| 4 | VZ 1.45 3/20/2026 | 1.45% | 03/20/26 | 39 |
| 5 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 38 |
| 6 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 38 |
| 7 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 37 |
| 8 | AAPL 2.375 2/8/2041 | 2.38% | 02/08/41 | 37 |
| 9 | CMCSA 1.5 2/15/2031 | 1.50% | 02/15/31 | 36 |
| 10 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 9/3/21 – 9/10/21
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 9/3/21 – 9/10/21
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