Investment Grade Corporate Bond Market Summary – Week Ending 12/20/24
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Investment Grade Corporate Bond Market Summary: Week Ending 12/20/24
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 12/20/24, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Affirm Inc. (USD) 0.75% 12/15/2029 144A | Convertible Note | 800 | 100 | ||
| Citigroup Global Markets Holdings Inc. (USD) 5.09483% 1/20/2026 | Senior Note, Issued | 200 | 100 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 12/13/24 – 12/20/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ANNFND 2.924 10/6/2051 | 2.92% | 10/06/51 | 22.41% | 68.07 | 55.61 | 17 |
| 2 | TSINGH 6 12/10/2020 | 6.00% | 12/10/20 | 9.98% | 53.68 | 48.81 | 10 |
| 3 | DOW 5.15 11/15/2034 | 5.15% | 11/15/34 | 9.10% | 97.93 | 89.76 | 12 |
| 4 | BFCM 0 PERP | 2.47% | NULL | 6.02% | 99.41 | 93.76 | 10 |
| 5 | NSANY 4.81 9/17/2030 144A | 4.81% | 09/17/30 | 4.11% | 92.84 | 89.17 | 23 |
| 6 | SWSFIN 6.64 3/31/2026 | 6.64% | 03/31/26 | 3.70% | 92.40 | 89.10 | 16 |
| 7 | ETLFP 1.5 10/13/2028 | 1.50% | 10/13/28 | 3.24% | 73.99 | 71.67 | 19 |
| 8 | CMARK 0 PERP | 2.47% | NULL | 2.28% | 95.14 | 93.02 | 8 |
| 9 | AEGON 0.496 PERP | 0.50% | NULL | 1.74% | 71.46 | 70.24 | 4 |
| 10 | KEL 5.5 4/28/2035 | 5.50% | 04/28/35 | 1.12% | 92.67 | 91.64 | 17 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 12/13/24 – 12/20/24
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | VNKRLE 3.975 11/9/2027 | 3.98% | 11/09/27 | -13.36% | 51.87 | 59.87 | 18 |
| 2 | ROMANI 4 2/14/2051 REGS | 4.00% | 02/14/51 | -6.60% | 62.93 | 67.38 | 21 |
| 3 | HPP 3.25 1/15/2030 | 3.25% | 01/15/30 | -5.94% | 65.72 | 69.87 | 22 |
| 4 | UNH 3.125 5/15/2060 | 3.13% | 05/15/60 | -5.71% | 59.50 | 63.10 | 19 |
| 5 | INTC 3.1 2/15/2060 | 3.10% | 02/15/60 | -5.60% | 53.41 | 56.58 | 22 |
| 6 | CMCSA 2.65 8/15/2062 | 2.65% | 08/15/62 | -5.59% | 52.33 | 55.42 | 23 |
| 7 | JNJ 2.25 9/1/2050 | 2.25% | 09/01/50 | -5.55% | 57.67 | 61.06 | 22 |
| 8 | GLW 4.375 11/15/2057 | 4.38% | 11/15/57 | -5.54% | 77.16 | 81.69 | 15 |
| 9 | WBD 5.141 3/15/2052 | 5.14% | 03/15/52 | -5.54% | 74.43 | 78.80 | 33 |
| 10 | WBA 4.1 4/15/2050 | 4.10% | 04/15/50 | -5.53% | 63.45 | 67.17 | 24 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 12/13/24 – 12/20/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -564 bps | 5.48% | 11.12% |
| 2 | Wholesale | -33 bps | 5.23% | 5.56% |
| 3 | Finance | -18 bps | 5.08% | 5.26% |
| 4 | Media: Advertising, Printing & Publishing | -3 bps | 6.20% | 6.23% |
| 5 | Energy: Oil & Gas | -1 bps | 5.18% | 5.20% |
| 6 | Utilities: Water | 2 bps | 4.75% | 4.73% |
| 7 | Consumer Goods: Non-Durable | 8 bps | 4.55% | 4.46% |
| 8 | Construction & Building | 9 bps | 4.56% | 4.47% |
| 9 | Consumer Goods: Durable | 10 bps | 4.06% | 3.96% |
| 10 | Aerospace & Defense | 10 bps | 5.00% | 4.90% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 12/13/24 – 12/20/24
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Retail | 32 bps | 5.11% | 4.79% |
| 2 | Transportation: Consumer | 31 bps | 4.86% | 4.54% |
| 3 | Real Estate | 30 bps | 6.26% | 5.96% |
| 4 | Metals & Mining | 28 bps | 5.01% | 4.74% |
| 5 | Banking | 23 bps | 4.58% | 4.35% |
| 6 | Media: Broadcasting & Subscription | 22 bps | 4.96% | 4.74% |
| 7 | Services: Consumer | 22 bps | 4.94% | 4.71% |
| 8 | Healthcare & Pharmaceuticals | 20 bps | 4.54% | 4.33% |
| 9 | Environmental Industries | 20 bps | 4.87% | 4.67% |
| 10 | Chemicals, Plastics & Rubber | 20 bps | 4.95% | 4.75% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/13/24 – 12/20/24 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 12/13/24 – 12/20/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/13/24 vs. the week ending 12/20/24
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NEM 5.75 11/15/2041 | 5.75% | 11/15/41 | 39 | 126 | 87 | 223% |
| 2 | NEM 4.2 5/13/2050 | 4.20% | 05/13/50 | 35 | 107 | 72 | 206% |
| 3 | DOW 5.15 11/15/2034 | 5.15% | 11/15/34 | 10 | 76 | 66 | 660% |
| 4 | DOW 5.6 12/15/2054 | 5.60% | 12/15/54 | 10 | 70 | 60 | 600% |
| 5 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 275 | 325 | 50 | 18% |
| 6 | WFC 4.1 6/3/2026 | 4.10% | 06/03/26 | 90 | 139 | 49 | 54% |
| 7 | NAB FLT 10/26/2027 144A | #VALUE! | 10/26/27 | 120 | 166 | 46 | 38% |
| 8 | BABA 5.25 5/31/2035 REGS | 5.25% | 05/31/35 | 234 | 280 | 46 | 20% |
| 9 | NEM 3.25 5/13/2030 | 3.25% | 05/13/30 | 40 | 85 | 45 | 113% |
| 10 | EIX 4.65 10/1/2043 | 4.65% | 10/01/43 | 132 | 175 | 43 | 33% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/13/24 – 12/20/24
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HSBC 8 PERP | 8.00% | 09/07/99 | 37 |
| 2 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 37 |
| 3 | BPLN 5.227 11/17/2034 | 5.23% | 11/17/34 | 36 |
| 4 | T 2.55 12/1/2033 | 2.55% | 12/01/33 | 36 |
| 5 | OKE 5.05 11/1/2034 | 5.05% | 11/01/34 | 35 |
| 6 | HSBC 6.95 PERP | 6.69% | NULL | 35 |
| 7 | PFE 4.75 5/19/2033 | 4.75% | 05/19/33 | 35 |
| 8 | CMCSA 5.3 6/1/2034 | 5.30% | 06/01/34 | 34 |
| 9 | ET 5.6 9/1/2034 | 5.60% | 09/01/34 | 34 |
| 10 | KMI 5.4 2/1/2034 | 5.40% | 02/01/34 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/13/24 – 12/20/24 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 12/13/24 – 12/20/24
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