Investment Grade Corporate Bond Market Summary – Week Ending 12/29/23
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Investment Grade Corporate Bond Market Summary: Week Ending 12/29/23
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 12/29/23, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| — | — | — | — | — | — |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 12/22/23 – 12/29/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | COLBYC 3.072 7/1/2052 | 3.07% | 07/01/52 | 6.50% | 67.58 | 63.45 | 3 |
| 2 | ICTPM 3.5 11/16/2031 | 3.50% | 11/16/31 | 5.93% | 91.39 | 86.27 | 14 |
| 3 | BOSCOL 3.129 7/1/2052 | 3.13% | 07/01/52 | 5.59% | 72.60 | 68.75 | 3 |
| 4 | CMS 4.35 8/31/2064 | 4.35% | 08/31/64 | 4.88% | 87.49 | 83.42 | 6 |
| 5 | FORASO FLT 4/30/2027 REGS | 9.39% | 04/30/27 | 4.48% | 94.20 | 90.16 | 9 |
| 6 | LYINDE 4.5 3/30/2025 | 4.50% | 03/30/25 | 4.38% | 97.33 | 93.25 | 2 |
| 7 | BNCMCC 10.5 12/29/2032 | 10.50% | 12/29/32 | 4.32% | 106.40 | 102.00 | 2 |
| 8 | ZKCONS 4.8 3/11/2025 | 4.80% | 03/11/25 | 4.21% | 97.96 | 94.00 | 2 |
| 9 | GLAD 3.75 5/1/2027 | 3.75% | 05/01/27 | 4.01% | 90.49 | 87.00 | 4 |
| 10 | BGOSK 2 11/3/2036 | 2.00% | 11/03/36 | 3.97% | 77.09 | 74.15 | 5 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 12/22/23 – 12/29/23
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | KO 7 5/15/2098 | 7.00% | 05/15/98 | -5.74% | 128.79 | 136.64 | 3 |
| 2 | NSC 6 3/15/2105 | 6.00% | 03/15/05 | -4.85% | 92.98 | 97.71 | 7 |
| 3 | EBRD 0 1/26/2026 | 0.00% | 01/26/26 | -4.55% | 54.84 | 57.45 | 2 |
| 4 | SOCGEN 4.5 4/18/2034 | 4.50% | 04/18/34 | -2.60% | 84.75 | 87.02 | 7 |
| 5 | OGE 3.9 5/1/2043 | 3.90% | 05/01/43 | -2.57% | 79.81 | 81.92 | 9 |
| 6 | ENGIFP 5.95 3/16/2011 | 5.95% | 03/16/11 | -2.18% | 127.51 | 130.35 | 9 |
| 7 | AIIB 30 7/19/2024 | 30.00% | 07/19/24 | -2.09% | 89.03 | 90.92 | 2 |
| 8 | DBHNGR 4.5 11/29/2072 | 4.50% | 11/29/72 | -2.02% | 92.50 | 94.41 | 3 |
| 9 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | -1.89% | 62.45 | 63.65 | 16 |
| 10 | EIB 14 3/1/2026 | 14.00% | 03/01/26 | -1.87% | 56.33 | 57.40 | 2 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 12/22/23 – 12/29/23
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | -21 bps | 3.67% | 3.88% |
| 2 | Beverage, Food & Tobacco | -16 bps | 3.86% | 4.02% |
| 3 | Utilities: Electric | -16 bps | 4.28% | 4.43% |
| 4 | Capital Equipment | -15 bps | 4.08% | 4.22% |
| 5 | Hotel, Gaming & Leisure | -14 bps | 4.59% | 4.73% |
| 6 | Construction & Building | -13 bps | 4.29% | 4.42% |
| 7 | 0 | -13 bps | 7.07% | 7.20% |
| 8 | Energy: Oil & Gas | -13 bps | 4.50% | 4.62% |
| 9 | Metals & Mining | -11 bps | 4.56% | 4.67% |
| 10 | Finance | -9 bps | 4.75% | 4.84% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 12/22/23 – 12/29/23
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 322 bps | 9.33% | 6.11% |
| 2 | Sovereign & Public Finance | 25 bps | 4.39% | 4.15% |
| 3 | High Tech Industries | 19 bps | 4.69% | 4.49% |
| 4 | Real Estate | 15 bps | 6.58% | 6.42% |
| 5 | Transportation: Consumer | 14 bps | 5.22% | 5.07% |
| 6 | Retail | 12 bps | 4.99% | 4.88% |
| 7 | Aerospace & Defense | 11 bps | 5.11% | 5.00% |
| 8 | Media: Advertising, Printing & Publishing | 4 bps | 6.33% | 6.29% |
| 9 | Insurance | 1 bps | 4.98% | 4.97% |
| 10 | Utilities: Water | -1 bps | 4.25% | 4.26% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/22/23 – 12/29/23 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 12/22/23 – 12/29/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/22/23 vs. the week ending 12/29/23
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | RBIAV 1.375 6/17/2033 | 1.38% | 06/17/33 | 47 | 128 | 81 | 172% |
| 2 | CAMLNG 3.402 1/15/2038 144A | 3.40% | 01/15/38 | 85 | 117 | 32 | 38% |
| 3 | SANTAN 4.175 3/24/2028 | 4.18% | 03/24/28 | 162 | 194 | 32 | 20% |
| 4 | BMY 6.25 11/15/2053 | 6.25% | 11/15/53 | 279 | 309 | 30 | 11% |
| 5 | BMY 5.9 11/15/2033 | 5.90% | 11/15/33 | 332 | 360 | 28 | 8% |
| 6 | BMY 6.4 11/15/2063 | 6.40% | 11/15/63 | 277 | 303 | 26 | 9% |
| 7 | RABOBK 3.649 4/6/2028 REGS | 3.65% | 04/06/28 | 146 | 172 | 26 | 18% |
| 8 | CM FLT 4/7/2025 | 0.00% | 04/07/25 | 55 | 80 | 25 | 45% |
| 9 | SPLLLC 5.9 9/15/2037 | 5.90% | 09/15/37 | 63 | 87 | 24 | 38% |
| 10 | NYPRES 4.763 8/1/2116 | 4.76% | 08/01/16 | 19 | 43 | 24 | 126% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/22/23 – 12/29/23
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | INTC 5.2 2/10/2033 | 5.20% | 02/10/33 | 36 |
| 2 | BMY 5.9 11/15/2033 | 5.90% | 11/15/33 | 35 |
| 3 | GM 6.4 1/9/2033 | 6.40% | 01/09/33 | 34 |
| 4 | HSBC 8 PERP | 8.00% | 09/07/99 | 33 |
| 5 | PFE 4.75 5/19/2033 | 4.75% | 05/19/33 | 33 |
| 6 | ACAFP 8.125 PERP | 8.13% | NULL | 33 |
| 7 | PFE 4.45 5/19/2028 | 4.45% | 05/19/28 | 32 |
| 8 | BACR 9.625 PERP | 9.63% | 12/15/99 | 32 |
| 9 | PFE 5.3 5/19/2053 | 5.30% | 05/19/53 | 32 |
| 10 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 32 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/22/23 – 12/29/23 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 12/22/23 – 12/29/23
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