Investment Grade Corporate Bond Market Summary – Week Ending 2/21/25
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Investment Grade Corporate Bond Market Summary: Week Ending 2/21/25
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 2/21/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| General Motors of Canada Limited (CAD) 4.45% 2/25/2030 | Senior Notes | 450 | 99.858 | 4.48 | 155 |
| Westpac New Zealand LTD (USD) 4.938% 2/27/2030 | Senior Notes | 750 | 100 | 4.94 | 60 |
| Selective Insurance Group (USD) 5.9% 4/15/2035 | Senior Notes | 400 | 99.978 | 5.9 | 140 |
| Enbridge Inc. (CAD) 4.56% 2/25/2035 | Senior Notes | 700 | 99.968 | 4.56 | 139 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 2/14/25 – 2/21/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | 14.13% | 63.41 | 55.56 | 12 |
| 2 | SWSFIN 7.375 12/12/2041 | 7.38% | 12/12/41 | 8.94% | 98.22 | 90.17 | 20 |
| 3 | TSINGH 5.375 1/31/2023 | 5.38% | 01/31/23 | 8.39% | 78.24 | 72.18 | 11 |
| 4 | THAMES 2.625 1/24/2032 | 1.00% | 01/26/32 | 4.77% | 73.24 | 69.91 | 10 |
| 5 | HPP 3.25 1/15/2030 | 3.25% | 01/15/30 | 3.58% | 73.65 | 71.11 | 20 |
| 6 | INTC 5.05 8/5/2062 | 5.05% | 08/05/62 | 3.07% | 82.36 | 79.91 | 29 |
| 7 | HYSAN 4.85 PERP | 4.85% | NULL | 2.87% | 69.25 | 67.32 | 11 |
| 8 | AGRFIN 1.625 6/30/2033 | 1.63% | 06/30/33 | 2.53% | 77.86 | 75.93 | 14 |
| 9 | BK 0 PERP | 0.00% | NULL | 2.42% | 87.91 | 85.83 | 10 |
| 10 | ETR 5.15 6/1/2045 | 5.15% | 06/01/45 | 2.17% | 94.28 | 92.28 | 8 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 2/14/25 – 2/21/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | ETLFP 9.75 4/13/2029 REGS | 9.75% | 04/13/29 | -7.52% | 84.08 | 90.92 | 20 |
| 2 | NGGLN 1.6574 7/28/2056 | 1.66% | 07/28/56 | -3.28% | 68.44 | 70.76 | 4 |
| 3 | LNGFOR 3.85 1/13/2032 | 3.85% | 01/13/32 | -3.25% | 67.12 | 69.38 | 20 |
| 4 | SESGFP 2.875 PERP | 2.88% | NULL | -2.86% | 92.37 | 95.08 | 23 |
| 5 | EU 0.7 7/6/2051 | 0.70% | 07/06/51 | -2.29% | 53.95 | 55.22 | 9 |
| 6 | ROMANI 6.125 1/22/2044 REGS | 3.80% | 12/14/27 | -2.25% | 85.89 | 87.87 | 14 |
| 7 | UKRAIL 1.125 11/22/2047 | 1.13% | 11/22/47 | -2.19% | 83.86 | 85.74 | 5 |
| 8 | SSWTR 1.843 6/30/2051 | 1.84% | 06/30/51 | -2.03% | 67.94 | 69.35 | 3 |
| 9 | UU 1.7829 12/14/2040 | 2.50% | 12/14/40 | -1.96% | 169.81 | 173.21 | 5 |
| 10 | AWLN 2.262 8/1/2045 | 2.26% | 08/01/45 | -1.92% | 81.91 | 83.51 | 10 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 2/14/25 – 2/21/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Finance | -46 bps | 5.23% | 5.69% |
| 2 | Services: Business | -18 bps | 3.79% | 3.97% |
| 3 | Wholesale | -14 bps | 5.66% | 5.80% |
| 4 | Media: Diversified & Production | -11 bps | 4.77% | 4.88% |
| 5 | Banking | -11 bps | 4.39% | 4.50% |
| 6 | Consumer Goods: Non-Durable | -10 bps | 4.52% | 4.62% |
| 7 | Automotive | -10 bps | 4.72% | 4.82% |
| 8 | Hotel, Gaming & Leisure | -9 bps | 4.71% | 4.80% |
| 9 | Media: Advertising, Printing & Publishing | -9 bps | 5.66% | 5.74% |
| 10 | Energy: Oil & Gas | -7 bps | 5.22% | 5.30% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 2/14/25 – 2/21/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | 23 bps | 4.24% | 4.01% |
| 2 | Transportation: Consumer | 10 bps | 4.90% | 4.80% |
| 3 | Metals & Mining | 9 bps | 4.96% | 4.86% |
| 4 | Chemicals, Plastics & Rubber | 8 bps | 4.88% | 4.79% |
| 5 | Transportation: Cargo | 4 bps | 4.90% | 4.86% |
| 6 | Services: Consumer | 4 bps | 5.11% | 5.07% |
| 7 | Energy: Electricity | 2 bps | 4.42% | 4.39% |
| 8 | Real Estate | 0 bps | 6.28% | 6.28% |
| 9 | Healthcare & Pharmaceuticals | 0 bps | 4.46% | 4.47% |
| 10 | Beverage, Food & Tobacco | -1 bps | 4.26% | 4.27% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/14/25 – 2/21/25 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 2/14/25 – 2/21/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/14/25 vs. the week ending 2/21/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ROMANI 5.25 3/10/2030 REGS | 5.25% | 03/10/30 | 86 | 166 | 80 | 93% |
| 2 | SWSFIN 5 3/31/2041 | 5.00% | 03/31/41 | 96 | 170 | 74 | 77% |
| 3 | ROMANI 6.25 9/10/2034 REGS | 6.25% | 09/10/34 | 92 | 161 | 69 | 75% |
| 4 | ROMANI 7.5 2/10/2037 REGS | 7.50% | 02/10/37 | 109 | 174 | 65 | 60% |
| 5 | BNP 5.283 11/19/2030 REGS | 5.61% | 11/19/30 | 130 | 195 | 65 | 50% |
| 6 | STANLN 0.9 7/2/2027 | 0.90% | 07/02/27 | 152 | 210 | 58 | 38% |
| 7 | CDEL 3.15 1/15/2051 144A | 3.15% | 01/15/51 | 82 | 140 | 58 | 71% |
| 8 | CMZB 4.625 3/21/2028 | 4.72% | 03/21/28 | 180 | 235 | 55 | 31% |
| 9 | LLOYDS 4.344 1/9/2048 | 4.34% | 01/09/48 | 202 | 255 | 53 | 26% |
| 10 | BBLTB 4.45 9/19/2028 REGS | 4.45% | 09/19/28 | 186 | 237 | 51 | 27% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/14/25 – 2/21/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | NEE 5.9 3/15/2055 | 5.90% | 03/15/55 | 41 |
| 2 | NEE 5.45 3/15/2035 | 5.45% | 03/15/35 | 39 |
| 3 | HON 5 3/1/2035 | 5.00% | 03/01/35 | 38 |
| 4 | PEP 5 2/7/2035 | 5.00% | 02/07/35 | 38 |
| 5 | NEE 5.05 3/15/2030 | 5.05% | 03/15/30 | 38 |
| 6 | OKE 5.7 11/1/2054 | 5.70% | 11/01/54 | 38 |
| 7 | NEE 5.3 3/15/2032 | 5.30% | 03/15/32 | 38 |
| 8 | KMI 5.95 8/1/2054 | 5.95% | 08/01/54 | 37 |
| 9 | NEE 5.25 3/15/2034 | 5.25% | 03/15/34 | 37 |
| 10 | TOYOTA 5.35 1/9/2035 | 5.35% | 01/09/35 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/14/25 – 2/21/25 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 2/14/25 – 2/21/25
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