Investment Grade Corporate Bond Market Summary – Week Ending 3/28/25
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Investment Grade Corporate Bond Market Summary: Week Ending 3/28/25
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 3/28/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Vici Properties LLC (USD) 5.625% 4/1/2035 | Senior Unsecured Notes | 900 | 99.219 | 5.73 | 140 |
| Glencore Funding LLC (USD) 6.141% 4/1/2055 | Senior Notes | 500 | 100 | 6.14 | 145 |
| GA Global Funding Trust (USD) 5.5% 4/1/2032 | Senior Notes | 500 | 99.948 | 5.51 | 130 |
| Dell International LLC (USD) 5.5% 4/1/2035 | Senior Unsecured Notes | 1000 | 99.681 | 5.54 | 120 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 3/21/25 – 3/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | WBA 4.65 6/1/2046 | 4.65% | 06/01/46 | 3.26% | 86.83 | 84.09 | 22 |
| 2 | LUMN 4.125 4/15/2030 144A | 4.13% | 04/15/30 | 2.60% | 94.17 | 91.78 | 16 |
| 3 | TLGRAM 7 3/22/2026 | 7.00% | 03/22/26 | 2.44% | 99.58 | 97.21 | 10 |
| 4 | UBIFP 0.878 11/24/2027 | 0.88% | 11/24/27 | 2.32% | 89.91 | 87.87 | 15 |
| 5 | OB 10 2/15/2030 144A | 10.00% | 02/15/30 | 2.29% | 87.08 | 85.13 | 18 |
| 6 | RE 0 5/15/2037 | 7.50% | 05/01/67 | 1.69% | 97.32 | 95.70 | 9 |
| 7 | TSINGH 4.75 1/31/2021 | 4.75% | 01/31/21 | 1.58% | 78.13 | 76.91 | 12 |
| 8 | IVN 7.875 1/23/2030 144A | 7.88% | 01/23/30 | 1.29% | 101.15 | 99.86 | 21 |
| 9 | TRANSM 4.7 4/16/2034 REGS | 4.70% | 04/16/34 | 1.26% | 96.18 | 94.98 | 18 |
| 10 | ENDVR 3.607 3/28/2031 | 3.61% | 03/28/31 | 1.01% | 249.00 | 246.51 | 5 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 3/21/25 – 3/28/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | PETMK 3.404 4/28/2061 REGS | 3.40% | 04/28/61 | -4.37% | 64.54 | 67.49 | 21 |
| 2 | FRDFND 2.815 6/1/2070 | 2.82% | 06/01/70 | -4.31% | 55.97 | 58.49 | 6 |
| 3 | KLLOGG 2.443 10/1/2050 144A | 2.44% | 10/01/50 | -4.17% | 58.22 | 60.76 | 4 |
| 4 | PANAMA 3.87 7/23/2060 | 3.87% | 07/23/60 | -4.11% | 53.42 | 55.71 | 22 |
| 5 | GTOWNU 5.115 4/1/2053 | 5.12% | 04/01/53 | -4.07% | 92.76 | 96.70 | 5 |
| 6 | BAYNGR 4.7 7/15/2064 144A | 4.70% | 07/15/64 | -4.04% | 71.53 | 74.54 | 21 |
| 7 | CKHH 3.375 5/8/2050 144A | 3.38% | 05/08/50 | -4.04% | 69.28 | 72.19 | 13 |
| 8 | LEG 3.5 11/15/2051 | 3.50% | 11/15/51 | -3.98% | 59.62 | 62.09 | 14 |
| 9 | SO 3.15 9/30/2051 | 3.15% | 09/30/51 | -3.96% | 62.46 | 65.04 | 17 |
| 10 | INTC 3.05 8/12/2051 | 3.05% | 08/12/51 | -3.96% | 58.19 | 60.59 | 24 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 3/21/25 – 3/28/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | -94 bps | 4.81% | 5.75% |
| 2 | Finance | -35 bps | 5.41% | 5.76% |
| 3 | Consumer Goods: Durable | -30 bps | 3.81% | 4.11% |
| 4 | Media: Advertising, Printing & Publishing | -21 bps | 6.61% | 6.82% |
| 5 | Beverage, Food & Tobacco | -4 bps | 4.10% | 4.15% |
| 6 | Aerospace & Defense | -3 bps | 5.15% | 5.18% |
| 7 | Construction & Building | -2 bps | 4.45% | 4.46% |
| 8 | Insurance | -1 bps | 4.67% | 4.68% |
| 9 | Sovereign & Public Finance | 0 bps | 3.79% | 3.79% |
| 10 | Capital Equipment | 0 bps | 4.27% | 4.27% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 3/21/25 – 3/28/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Cargo | 16 bps | 4.94% | 4.78% |
| 2 | Services: Business | 13 bps | 3.96% | 3.83% |
| 3 | Utilities: Water | 12 bps | 5.21% | 5.10% |
| 4 | Utilities: Oil & Gas | 12 bps | 4.64% | 4.52% |
| 5 | Real Estate | 11 bps | 6.41% | 6.30% |
| 6 | Chemicals, Plastics & Rubber | 11 bps | 5.03% | 4.92% |
| 7 | Automotive | 10 bps | 4.70% | 4.60% |
| 8 | Forest Products & Paper | 10 bps | 4.42% | 4.33% |
| 9 | Consumer Goods: Non-Durable | 9 bps | 4.57% | 4.48% |
| 10 | Environmental Industries | 8 bps | 4.63% | 4.55% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 3/21/25 – 3/28/25 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 3/21/25 – 3/28/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 3/21/25 vs. the week ending 3/28/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MTRC 1.625 8/19/2030 | 1.63% | 08/19/30 | 140 | 228 | 88 | 63% |
| 2 | ALK 4.8 8/15/2027 REGS | 4.80% | 02/15/29 | 23 | 100 | 77 | 335% |
| 3 | HKMTGC 4.125 10/18/2027 | 4.13% | 10/18/27 | 120 | 195 | 75 | 63% |
| 4 | VW 5.6 3/22/2034 144A | 5.60% | 03/22/34 | 104 | 178 | 74 | 71% |
| 5 | BMW 4.65 3/10/2027 | 4.65% | 03/10/27 | 106 | 177 | 71 | 67% |
| 6 | OB 10 2/15/2030 144A | 10.00% | 02/15/30 | 72 | 135 | 63 | 88% |
| 7 | HKAA 3.25 1/12/2052 REGS | 3.25% | 01/12/52 | 160 | 220 | 60 | 38% |
| 8 | PRU 5.2 3/14/2035 | 5.20% | 03/14/35 | 222 | 274 | 52 | 23% |
| 9 | NEM 6.25 10/1/2039 | 6.25% | 10/01/39 | 176 | 228 | 52 | 30% |
| 10 | HKAA 4.75 7/15/2028 REGS | 4.75% | 07/15/28 | 259 | 310 | 51 | 20% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 3/21/25 – 3/28/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MARS 5.2 3/1/2035 144A | 5.20% | 03/01/35 | 41 |
| 2 | DUK 5.05 3/15/2035 | 5.05% | 03/15/35 | 39 |
| 3 | D 5.15 3/15/2035 | 5.15% | 03/15/35 | 39 |
| 4 | MARS 5.7 5/1/2055 144A | 5.70% | 05/01/55 | 39 |
| 5 | MARS 5.65 5/1/2045 144A | 5.65% | 05/01/45 | 39 |
| 6 | NEE 5.3 6/15/2034 | 5.30% | 06/15/34 | 38 |
| 7 | D 5.65 3/15/2055 | 5.65% | 03/15/55 | 38 |
| 8 | MARS 4.8 3/1/2030 144A | 4.80% | 03/01/30 | 38 |
| 9 | NEE 5.45 3/15/2035 | 5.45% | 03/15/35 | 38 |
| 10 | MARS 5.8 5/1/2065 144A | 5.80% | 05/01/65 | 38 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 3/21/25 – 3/28/25 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 3/21/25 – 3/28/25
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