Investment Grade Corporate Bond Market Summary – Week Ending 8/30/24
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Investment Grade Corporate Bond Market Summary: Week Ending 8/30/24
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 8/30/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Capital Power Corp. (CAD) 4.831% 9/16/2031 | Senior Unsecured MTN | 600 | 100 | 4.83 | |
| BOC Aviation PTE LTD (USD) 4.625% 9/4/2031 | Senior Note | 500 | 98.923 | 4.81 | 105 |
| Pacific Life Global Fdg MTN (USD) 4.5% 8/28/2029 | Senior Secured Note | 500 | 99.982 | 4.5 | 78 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 8/23/24 – 8/30/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CICFP FLT PERP | 5.34% | NULL | 8.50% | 87.91 | 81.02 | 3 |
| 2 | VNKRLE 3.5 11/12/2029 | 3.50% | 11/12/29 | 6.15% | 53.46 | 50.36 | 21 |
| 3 | CPIPGR 1.5 1/27/2031 | 1.50% | 01/27/31 | 5.65% | 73.03 | 69.12 | 20 |
| 4 | SBBBSS 2.375 9/4/2026 | 2.38% | 09/04/26 | 5.05% | 83.57 | 79.55 | 20 |
| 5 | LNGFOR 3.95 9/16/2029 | 3.95% | 09/16/29 | 4.64% | 70.11 | 67.00 | 20 |
| 6 | GYCGR 1.5 PERP | 1.50% | NULL | 4.19% | 79.46 | 76.27 | 14 |
| 7 | UMBF 6.25 9/28/2032 | 6.25% | 09/28/32 | 4.04% | 89.19 | 85.73 | 5 |
| 8 | HEIMST 4.375 3/6/2027 | 4.38% | 03/06/27 | 3.84% | 80.37 | 77.39 | 19 |
| 9 | CKINF 4.2 PERP | 4.20% | NULL | 3.47% | 77.21 | 74.62 | 12 |
| 10 | ADSEZ 5 8/2/2041 144A | 5.00% | 08/02/41 | 3.30% | 84.07 | 81.38 | 6 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 8/23/24 – 8/30/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TLGRAM 7 3/22/2026 | 7.00% | 03/22/26 | -9.13% | 86.85 | 95.58 | 13 |
| 2 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | -5.36% | 67.68 | 71.51 | 16 |
| 3 | PETRPE 5.625 6/19/2047 REGS | 5.63% | 06/19/47 | -3.33% | 63.19 | 65.37 | 17 |
| 4 | THAMES 4.375 1/18/2031 | 4.38% | 01/18/31 | -3.25% | 74.90 | 77.42 | 26 |
| 5 | TSINGH 6 12/10/2020 | 6.00% | 12/10/20 | -3.22% | 52.19 | 53.93 | 12 |
| 6 | NGGLN 1.819 5/11/2056 | 1.82% | 05/11/56 | -2.56% | 81.84 | 83.99 | 4 |
| 7 | ASCOTG 4.25 12/15/2030 144A | 4.25% | 12/15/30 | -2.34% | 85.61 | 87.66 | 5 |
| 8 | UNISOU 2.25 4/11/2057 | 2.25% | 04/11/57 | -2.11% | 55.63 | 56.83 | 14 |
| 9 | UU 1.847 7/7/2056 | 1.85% | 07/07/56 | -2.10% | 83.02 | 84.80 | 4 |
| 10 | SWSFIN 4.5 3/31/2052 | 4.50% | 03/31/52 | -2.01% | 74.38 | 75.90 | 14 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 8/23/24 – 8/30/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Aerospace & Defense | -18 bps | 4.76% | 4.94% |
| 2 | Real Estate | -16 bps | 6.35% | 6.51% |
| 3 | Media: Advertising, Printing & Publishing | -6 bps | 4.92% | 4.98% |
| 4 | Automotive | -6 bps | 4.44% | 4.51% |
| 5 | Insurance | -6 bps | 4.56% | 4.62% |
| 6 | Consumer Goods: Durable | -6 bps | 3.99% | 4.05% |
| 7 | Banking | -5 bps | 4.41% | 4.46% |
| 8 | Environmental Industries | -4 bps | 4.34% | 4.39% |
| 9 | Construction & Building | -4 bps | 4.35% | 4.39% |
| 10 | Finance | -3 bps | 5.19% | 5.22% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 8/23/24 – 8/30/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 132 bps | 13.50% | 12.18% |
| 2 | Consumer Goods: Non-Durable | 32 bps | 4.74% | 4.41% |
| 3 | Media: Diversified & Production | 29 bps | 4.47% | 4.18% |
| 4 | Energy: Oil & Gas | 24 bps | 4.98% | 4.74% |
| 5 | Hotel, Gaming & Leisure | 20 bps | 8.14% | 7.94% |
| 6 | Transportation: Consumer | 19 bps | 4.98% | 4.79% |
| 7 | Retail | 15 bps | 4.97% | 4.82% |
| 8 | Services: Business | 14 bps | 3.67% | 3.53% |
| 9 | 0 | 14 bps | 7.40% | 7.26% |
| 10 | Chemicals, Plastics & Rubber | 12 bps | 4.77% | 4.65% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 8/23/24 – 8/30/24 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 8/23/24 – 8/30/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/23/24 vs. the week ending 8/30/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | IR 5.45 6/15/2034 | 5.45% | 06/15/34 | 207 | 262 | 55 | 27% |
| 2 | CMCSA 4.25 1/15/2033 | 4.25% | 01/15/33 | 222 | 276 | 54 | 24% |
| 3 | MS 5.25 1/5/2034 | 5.25% | 01/05/34 | 38 | 86 | 48 | 126% |
| 4 | RY 4.9 6/20/2028 | 4.90% | 06/20/28 | 18 | 64 | 46 | 256% |
| 5 | AGO FLT 12/15/2066 | 7.61% | 12/15/66 | 0 | 46 | 46 | #DIV/0! |
| 6 | JPM 6.1 PERP | 6.10% | NULL | 158 | 198 | 40 | 25% |
| 7 | DIS 3.35 3/24/2025 | 3.35% | 03/24/25 | 146 | 184 | 38 | 26% |
| 8 | TMO 5.2 1/31/2034 | 5.20% | 01/31/34 | 208 | 246 | 38 | 18% |
| 9 | TSN 5.7 3/15/2034 | 5.70% | 03/15/34 | 269 | 304 | 35 | 13% |
| 10 | SWIPRO 3.55 7/25/2028 | 3.55% | 07/25/28 | 60 | 95 | 35 | 58% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 8/23/24 – 8/30/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 40 |
| 2 | HSBC 8 PERP | 8.00% | 09/07/99 | 39 |
| 3 | KR 4.65 9/15/2029 | 4.65% | 09/15/29 | 38 |
| 4 | KR 5 9/15/2034 | 5.00% | 09/15/34 | 38 |
| 5 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 37 |
| 6 | HSBC 4.6 PERP | 4.60% | NULL | 37 |
| 7 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 37 |
| 8 | EPD 5.55 2/16/2055 | 5.55% | 02/16/55 | 37 |
| 9 | TOYOTA 4.8 1/5/2034 | 4.80% | 01/05/34 | 37 |
| 10 | ENBCN 5.95 4/5/2054 | 5.95% | 04/05/54 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 8/23/24 – 8/30/24 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 8/23/24 – 8/30/24
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
