Investment Grade Corporate Bond Market Summary – Week Ending 12/23/22
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Investment Grade Corporate Bond Market Summary: Week Ending 12/23/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 12/16/22 – 12/23/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SINOCE 6 7/30/2024 | 6.00% | 07/30/24 | 10.24% | 59.11 | 53.62 | 20 |
| 2 | COGARD 5.625 12/15/2026 | 5.63% | 12/15/26 | 6.88% | 55.12 | 51.57 | 21 |
| 3 | ZHHFGR 2.8 11/4/2025 | 2.80% | 11/04/25 | 6.00% | 82.83 | 78.14 | 7 |
| 4 | MSFLCZ 3.15 3/10/2024 | 3.15% | 03/10/24 | 4.87% | 93.32 | 88.98 | 3 |
| 5 | TSE 5.125 4/1/2029 REGS | 5.13% | 04/01/29 | 3.71% | 64.65 | 62.33 | 18 |
| 6 | STENGE 4.85 10/14/2038 144A | 4.85% | 10/14/38 | 3.27% | 84.51 | 81.83 | 9 |
| 7 | SPIAV 1.75 2/4/2028 | 1.75% | 02/04/28 | 2.97% | 92.39 | 89.73 | 2 |
| 8 | SLB 5.125 12/15/2043 | 5.13% | 12/15/43 | 2.46% | 86.17 | 84.10 | 2 |
| 9 | VIVION 3 8/8/2024 | 3.00% | 08/08/24 | 2.25% | 77.90 | 76.18 | 19 |
| 10 | RUSSIA 4.875 9/16/2023 | 4.88% | 09/16/23 | 2.25% | 83.95 | 82.11 | 6 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 12/16/22 – 12/23/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PFCLN 9.75 11/15/2026 144A | 9.75% | 11/15/26 | -10.77% | 56.48 | 63.29 | 4 |
| 2 | RAGB 1.5 11/2/2086 | 1.50% | 11/02/86 | -9.75% | 62.04 | 68.75 | 2 |
| 3 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | -9.42% | 54.13 | 59.76 | 12 |
| 4 | ANNGR 1 1/28/2041 | 1.00% | 01/28/41 | -9.36% | 50.53 | 55.75 | 15 |
| 5 | ARNDTN 3.625 4/10/2031 | 3.63% | 04/10/31 | -8.82% | 60.14 | 65.96 | 15 |
| 6 | NRW 1.95 9/26/2078 | 1.95% | 09/26/78 | -8.37% | 77.21 | 84.27 | 3 |
| 7 | MDT 1.625 10/15/2050 | 1.63% | 10/15/50 | -8.02% | 62.14 | 67.56 | 14 |
| 8 | BERGER 0.35 9/9/2050 | 0.35% | 09/09/50 | -8.00% | 52.15 | 56.68 | 3 |
| 9 | PEP 1.05 10/9/2050 | 1.05% | 10/09/50 | -7.96% | 61.68 | 67.01 | 14 |
| 10 | LIN 1 9/30/2051 | 1.00% | 09/30/51 | -7.89% | 58.47 | 63.49 | 11 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 12/16/22 – 12/23/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | -31 bps | 4.79% | 5.09% |
| 2 | Healthcare & Pharmaceuticals | -28 bps | 4.59% | 4.87% |
| 3 | Energy: Oil & Gas | -8 bps | 5.26% | 5.34% |
| 4 | Media: Advertising, Printing & Publishing | -6 bps | 5.59% | 5.65% |
| 5 | Consumer Goods: Non-Durable | -3 bps | 4.39% | 4.41% |
| 6 | Telecommunications | 1 bps | 4.81% | 4.80% |
| 7 | Services: Business | 6 bps | 4.62% | 4.56% |
| 8 | Beverage, Food & Tobacco | 9 bps | 4.62% | 4.54% |
| 9 | Hotel, Gaming & Leisure | 9 bps | 5.54% | 5.45% |
| 10 | High Tech Industries | 11 bps | 4.90% | 4.80% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 12/16/22 – 12/23/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Consumer | 111 bps | 7.14% | 6.03% |
| 2 | Energy: Electricity | 104 bps | 5.19% | 4.15% |
| 3 | Utilities: Water | 75 bps | 5.18% | 4.42% |
| 4 | Sovereign & Public Finance | 69 bps | 4.82% | 4.13% |
| 5 | Transportation: Cargo | 65 bps | 5.44% | 4.80% |
| 6 | Capital Equipment | 58 bps | 4.89% | 4.31% |
| 7 | Metals & Mining | 56 bps | 5.58% | 5.02% |
| 8 | Consumer Goods: Durable | 51 bps | 5.03% | 4.52% |
| 9 | Containers, Packaging, & Glass | 47 bps | 5.74% | 5.27% |
| 10 | Utilities: Oil & Gas | 43 bps | 5.69% | 5.26% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/09/22 – 12/16/22 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 12/16/22 – 12/23/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/16/22 vs. the week ending 12/23/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MEX 4.125 1/21/2026 | 4.13% | 01/21/26 | 15 | 89 | 74 | 493% |
| 2 | CBAAU 1.125 6/15/2026 | 1.13% | 06/15/26 | 5 | 74 | 69 | 1380% |
| 3 | ANZNZ 3.45 1/21/2028 | 3.45% | 01/21/28 | 17 | 75 | 58 | 341% |
| 4 | TD 1.15 6/12/2025 | 1.15% | 06/12/25 | 75 | 132 | 57 | 76% |
| 5 | USB FLT 7/22/2033 | 4.97% | 07/22/33 | 119 | 171 | 52 | 44% |
| 6 | USB 3 7/30/2029 | 3.00% | 07/30/29 | 50 | 97 | 47 | 94% |
| 7 | USB 3.15 4/27/2027 | 3.15% | 04/27/27 | 62 | 104 | 42 | 68% |
| 8 | USB 4.548 7/22/2028 | 4.55% | 07/22/28 | 107 | 147 | 40 | 37% |
| 9 | MCD 3.8 4/1/2028 | 3.80% | 04/01/28 | 85 | 125 | 40 | 47% |
| 10 | TD 2.65 6/12/2024 | 2.65% | 06/12/24 | 74 | 112 | 38 | 51% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/16/22 – 12/23/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AMZN 4.7 12/1/2032 | 4.70% | 12/01/32 | 35 |
| 2 | AAPL 3.95 8/8/2052 | 3.95% | 08/08/52 | 34 |
| 3 | ENBCN 3.4 8/1/2051 | 3.40% | 08/01/51 | 33 |
| 4 | AMZN 3.6 4/13/2032 | 3.60% | 04/13/32 | 33 |
| 5 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 33 |
| 6 | AAPL 3.35 8/8/2032 | 3.35% | 08/08/32 | 33 |
| 7 | ORCL 6.25 11/9/2032 | 6.25% | 11/09/32 | 32 |
| 8 | ENBCN 2.5 8/1/2033 | 2.50% | 08/01/33 | 32 |
| 9 | KMI 4.8 2/1/2033 | 4.80% | 02/01/33 | 32 |
| 10 | INTC 4.15 8/5/2032 | 4.15% | 08/05/32 | 32 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/09/22 – 12/16/22 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 12/16/22 – 12/23/22
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