Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 9/24/21
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 9/17/21 – 9/24/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | VPARKI 2 7/6/2029 | 2.00% | 07/06/29 | 3.58% | 106.06 | 102.39 |
| 2 | PRXNA 3.832 2/8/2051 REGS | 3.83% | 02/08/51 | 3.46% | 92.61 | 89.51 |
| 3 | AMISSV 7 8/16/2031 | 7.00% | 08/16/31 | 3.39% | 111.66 | 108.00 |
| 4 | NTRS 0 4/15/2027 | 0.72% | 04/15/27 | 3.20% | 99.68 | 96.59 |
| 5 | PERU 6.7142 2/12/2055 | 6.71% | 02/12/55 | 2.64% | 92.19 | 89.82 |
| 6 | FLAMES 5.1 3/1/2042 | 5.10% | 03/01/42 | 2.28% | 128.72 | 125.85 |
| 7 | EPR 3.75 8/15/2029 | 3.75% | 08/15/29 | 2.26% | 103.04 | 100.76 |
| 8 | SHIMAO 5.6 7/15/2026 | 5.60% | 07/15/26 | 1.80% | 99.76 | 97.99 |
| 9 | BOAD 2.75 1/22/2033 144A | 2.75% | 01/22/33 | 1.66% | 107.00 | 105.25 |
| 10 | AIFP 3 3/17/2029 | 3.00% | 03/17/29 | 1.63% | 121.66 | 119.70 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 9/17/21 – 9/24/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ADJGR 3.25 8/5/2025 | 3.25% | 08/05/25 | -5.00% | 93.07 | 97.96 |
| 2 | EXC 5.8 5/15/2034 | 5.80% | 05/15/34 | -4.78% | 125.03 | 131.31 |
| 3 | PEMEX 5.625 1/23/2046 | 5.63% | 01/23/46 | -4.07% | 80.63 | 84.06 |
| 4 | BATSLN 2.25 9/9/2052 | 2.25% | 09/09/52 | -3.98% | 71.87 | 74.85 |
| 5 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | -3.94% | 127.15 | 132.37 |
| 6 | WELLTR 1.5 7/14/2071 | 1.50% | 07/14/71 | -3.75% | 95.14 | 98.85 |
| 7 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | -3.72% | 135.34 | 140.56 |
| 8 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -3.48% | 84.63 | 87.68 |
| 9 | COMHOS 4.94 5/1/2058 | 4.94% | 05/01/58 | -3.34% | 112.71 | 116.60 |
| 10 | PARHC 3.342 7/1/2060 | 3.34% | 07/01/60 | -3.21% | 109.98 | 113.62 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 9/17/21 – 9/24/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | -69 bps | 1.03% | 1.72% |
| 2 | Capital Equipment | -29 bps | 0.94% | 1.24% |
| 3 | Transportation: Cargo | -9 bps | 1.38% | 1.47% |
| 4 | Transportation: Consumer | -7 bps | 2.09% | 2.16% |
| 5 | Services: Consumer | -4 bps | 2.40% | 2.44% |
| 6 | Insurance | -2 bps | 1.37% | 1.39% |
| 7 | Metals & Mining | -1 bps | 1.70% | 1.71% |
| 8 | Hotel, Gaming & Leisure | -1 bps | 3.00% | 3.01% |
| 9 | Environmental Industries | 0 bps | 1.36% | 1.36% |
| 10 | Aerospace & Defense | 0 bps | 1.53% | 1.53% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 9/17/21 – 9/24/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Media: Advertising, Printing & Publishing | 46 bps | 1.05% | 0.59% |
| 2 | Chemicals, Plastics & Rubber | 26 bps | 1.41% | 1.16% |
| 3 | Consumer Goods: Durable | 25 bps | 1.03% | 0.78% |
| 4 | Utilities: Water | 14 bps | 1.10% | 0.96% |
| 5 | Consumer Goods: Non-Durable | 12 bps | 1.11% | 0.99% |
| 6 | Real Estate | 12 bps | 1.67% | 1.55% |
| 7 | Automotive | 12 bps | 1.22% | 1.10% |
| 8 | Retail | 11 bps | 1.60% | 1.49% |
| 9 | Construction & Building | 11 bps | 0.97% | 0.86% |
| 10 | Sovereign & Public Finance | 11 bps | 0.98% | 0.87% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/17/21 – 9/24/21
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 9/17/21 – 9/24/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/17/21 vs. the week ending 9/24/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CITCOR 2.3 10/1/2031 | 2.30% | 10/01/31 | 50 | 140 | 90 | 180% |
| 2 | SANUK 0.603 9/13/2029 | 0.60% | 09/13/29 | 125 | 209 | 84 | 67% |
| 3 | BNP 2 9/13/2036 | 2.00% | 09/13/36 | 80 | 158 | 78 | 98% |
| 4 | SANTAN 3.625 8/3/2012 | 3.63% | 08/03/12 | 57 | 125 | 68 | 119% |
| 5 | PNC 3.4 PERP | 3.40% | 12/15/99 | 218 | 284 | 66 | 30% |
| 6 | SUMITR 0 9/16/2024 REGS | 0.49% | 09/16/24 | 53 | 113 | 60 | 113% |
| 7 | BNS 0 9/15/2026 | 0.66% | 09/15/26 | 55 | 115 | 60 | 109% |
| 8 | AEP 2.9 10/1/2051 | 2.90% | 10/01/51 | 215 | 270 | 55 | 26% |
| 9 | AMT 4.7 3/15/2022 | 4.70% | 03/15/22 | 120 | 174 | 54 | 45% |
| 10 | DXC 2.375 9/15/2028 | 2.38% | 09/15/28 | 117 | 170 | 53 | 45% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/17/21 – 9/24/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 39 |
| 2 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 38 |
| 3 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 37 |
| 4 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
| 5 | CMCSA 1.5 2/15/2031 | 1.50% | 02/15/31 | 36 |
| 6 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 36 |
| 7 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 36 |
| 8 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 36 |
| 9 | INTC 2 8/12/2031 | 2.00% | 08/12/31 | 36 |
| 10 | INTC 1.6 8/12/2028 | 1.60% | 08/12/28 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 9/17/21 – 9/24/21
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 9/17/21 – 9/24/21
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