Investment Grade Corporate Bond Market Summary – Week Ending 10/25/24
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Investment Grade Corporate Bond Market Summary: Week Ending 10/25/24
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 10/25/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Bank of America Corp. (USD) 5.518% 10/25/2035 | Subordinated Note | 3500 | 100 | ||
| Anthem Inc. (USD) 5.7% 2/15/2055 | Senior Notes | 1350 | 99.453 | 5.74 | 125 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 10/18/24 – 10/25/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | CFG 4.3 2/11/2031 | 4.30% | 02/11/31 | 3.76% | 96.91 | 93.39 | 5 |
| 2 | LNC FLT 4/20/2067 | 6.89% | 04/20/67 | 3.53% | 78.77 | 76.08 | 14 |
| 3 | THAMES 7.75 4/30/2044 | 7.75% | 04/30/44 | 3.44% | 80.44 | 77.76 | 18 |
| 4 | ELOFR 4.875 12/8/2028 | 4.88% | 12/08/28 | 2.75% | 85.55 | 83.26 | 21 |
| 5 | OPI 2.65 6/15/2026 | 2.65% | 06/15/26 | 2.63% | 67.28 | 65.56 | 18 |
| 6 | LUMN 4.125 4/15/2029 144A | 4.13% | 04/15/29 | 2.40% | 87.39 | 85.34 | 12 |
| 7 | ARCPLN 4.5 10/31/2028 REGS | 4.50% | 10/31/28 | 1.63% | 98.82 | 97.24 | 22 |
| 8 | SWSFIN 6.64 3/31/2026 | 6.64% | 03/31/26 | 1.61% | 92.78 | 91.31 | 18 |
| 9 | ETLFP 9.75 4/13/2029 REGS | 9.75% | 04/13/29 | 1.56% | 101.41 | 99.85 | 16 |
| 10 | URUGUA 3.4 5/16/2045 | 3.40% | 05/16/45 | 1.21% | 98.68 | 97.49 | 3 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 10/18/24 – 10/25/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TPR 7.85 11/27/2033 | 7.85% | 11/27/33 | -7.09% | 101.71 | 109.48 | 28 |
| 2 | SPGI 2.3 8/15/2060 | 2.30% | 08/15/60 | -4.33% | 53.03 | 55.43 | 17 |
| 3 | VZ 3 11/20/2060 | 3.00% | 11/20/60 | -4.32% | 60.40 | 63.13 | 22 |
| 4 | CAT 3.25 9/19/2049 | 3.25% | 09/19/49 | -4.27% | 72.41 | 75.64 | 23 |
| 5 | MCD 3.7 2/15/2042 | 3.70% | 02/15/42 | -4.20% | 79.81 | 83.30 | 20 |
| 6 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | -4.16% | 65.24 | 68.07 | 16 |
| 7 | PANAMA 4.5 4/1/2056 | 4.50% | 04/01/56 | -4.14% | 65.21 | 68.03 | 18 |
| 8 | CMCSA 2.987 11/1/2063 | 2.99% | 11/01/63 | -4.09% | 60.01 | 62.57 | 27 |
| 9 | MCO 3.1 11/29/2061 | 3.10% | 11/29/61 | -4.01% | 62.11 | 64.71 | 20 |
| 10 | CRM 3.05 7/15/2061 | 3.05% | 07/15/61 | -3.98% | 63.84 | 66.49 | 24 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 10/18/24 – 10/25/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -593 bps | 5.84% | 11.77% |
| 2 | Metals & Mining | -13 bps | 4.66% | 4.79% |
| 3 | Retail | -4 bps | 4.87% | 4.91% |
| 4 | Banking | -2 bps | 4.32% | 4.34% |
| 5 | Media: Diversified & Production | -2 bps | 4.22% | 4.24% |
| 6 | Chemicals, Plastics & Rubber | -2 bps | 4.70% | 4.72% |
| 7 | Consumer Goods: Durable | -1 bps | 3.98% | 3.99% |
| 8 | Consumer Goods: Non-Durable | 1 bps | 4.46% | 4.45% |
| 9 | Finance | 2 bps | 5.28% | 5.26% |
| 10 | Beverage, Food & Tobacco | 4 bps | 4.12% | 4.08% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 10/18/24 – 10/25/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Real Estate | 34 bps | 6.22% | 5.88% |
| 2 | Sovereign & Public Finance | 24 bps | 4.08% | 3.84% |
| 3 | Services: Consumer | 21 bps | 4.99% | 4.78% |
| 4 | Transportation: Consumer | 19 bps | 4.77% | 4.59% |
| 5 | Media: Advertising, Printing & Publishing | 17 bps | 5.02% | 4.85% |
| 6 | Energy: Oil & Gas | 17 bps | 5.17% | 5.01% |
| 7 | Healthcare & Pharmaceuticals | 15 bps | 4.29% | 4.14% |
| 8 | Services: Business | 15 bps | 3.78% | 3.63% |
| 9 | Environmental Industries | 14 bps | 4.54% | 4.40% |
| 10 | Forest Products & Paper | 13 bps | 4.36% | 4.23% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/18/24 – 10/25/24 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 10/18/24 – 10/25/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/18/24 vs. the week ending 10/25/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | OMVAV 0 9/4/2036 | 0.00% | 09/04/36 | 81 | 134 | 53 | 65% |
| 2 | AES 5.75 4/1/2034 | 5.75% | 04/01/34 | 20 | 72 | 52 | 260% |
| 3 | C 4.838 8/6/2029 | 4.84% | 08/06/29 | 191 | 238 | 47 | 25% |
| 4 | C 4.65 7/30/2045 | 4.65% | 07/30/45 | 124 | 170 | 46 | 37% |
| 5 | PNC 2.307 4/23/2032 | 2.31% | 04/23/32 | 182 | 225 | 43 | 24% |
| 6 | TOYOTA 3.05 3/22/2027 | 3.05% | 03/22/27 | 251 | 292 | 41 | 16% |
| 7 | MMC 2.25 11/15/2030 | 2.25% | 11/15/30 | 167 | 205 | 38 | 23% |
| 8 | BA 6.528 5/1/2034 144A | 6.53% | 05/01/34 | 242 | 277 | 35 | 14% |
| 9 | BMO FLT 9/10/2030 | 4.64% | 09/10/30 | 228 | 261 | 33 | 14% |
| 10 | RY 6.35 1/23/2025 | 6.35% | 01/23/25 | 6 | 38 | 32 | 533% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/18/24 – 10/25/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 39 |
| 2 | ENBCN 5.625 4/5/2034 | 5.63% | 04/05/34 | 39 |
| 3 | ORCL 4.7 9/27/2034 | 4.70% | 09/27/34 | 39 |
| 4 | BHP 5.25 9/8/2033 | 5.25% | 09/08/33 | 38 |
| 5 | ORCL 4.2 9/27/2029 | 4.20% | 09/27/29 | 37 |
| 6 | MUFG 8.2 PERP | 8.20% | 07/15/99 | 37 |
| 7 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 37 |
| 8 | ET 6.05 9/1/2054 | 6.05% | 09/01/54 | 37 |
| 9 | ET 5.6 9/1/2034 | 5.60% | 09/01/34 | 37 |
| 10 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/18/24 – 10/25/24 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 10/18/24 – 10/25/24
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