Investment Grade Corporate Bond Market Summary – Week Ending 4/11/25
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Investment Grade Corporate Bond Market Summary: Week Ending 4/11/25
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 4/11/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Paychex Inc. | Senior Notes | 1500 | 99.72 | 5.164 | 125 |
| Keysight Technologies Inc. | Senior Notes | 750 | 99.76 | 5.396 | 140 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 4/4/25 – 4/11/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TMO 1.875 10/1/2049 | 1.88% | 10/01/49 | 5.02% | 65.95 | 62.80 | 17 |
| 2 | ORAFP 1.375 9/4/2049 | 1.38% | 09/04/49 | 4.90% | 64.00 | 61.02 | 19 |
| 3 | MLFP 3.25 9/30/2045 | 3.25% | 09/30/45 | 3.27% | 91.70 | 88.79 | 8 |
| 4 | AMPRIO 4 5/21/2044 | 4.00% | 05/21/44 | 3.27% | 97.94 | 94.85 | 16 |
| 5 | PG 0.9 11/4/2041 | 0.90% | 11/04/41 | 2.45% | 68.72 | 67.08 | 15 |
| 6 | ENEXIS 3.625 4/9/2037 | 3.63% | 04/09/37 | 1.75% | 101.31 | 99.56 | 11 |
| 7 | MSFT 2.625 5/2/2033 | 2.63% | 05/02/33 | 1.34% | 98.71 | 97.41 | 16 |
| 8 | TENN 0.5 11/30/2040 | 0.50% | 11/30/40 | 1.31% | 70.73 | 69.81 | 21 |
| 9 | ENGIFP 4.25 3/6/2044 | 4.25% | 03/06/44 | 1.29% | 98.06 | 96.81 | 19 |
| 10 | ENBW 3.75 11/20/2035 | 3.75% | 11/20/35 | 1.16% | 99.44 | 98.30 | 18 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 4/4/25 – 4/11/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | VFC 6.45 11/1/2037 | 6.45% | 11/01/37 | -16.36% | 81.08 | 96.94 | 16 |
| 2 | LASUDE 5 7/28/2026 | 5.00% | 07/28/26 | -13.99% | 56.69 | 65.91 | 13 |
| 3 | TELVIS 5.25 5/24/2049 | 5.25% | 05/24/49 | -11.95% | 64.72 | 73.51 | 13 |
| 4 | AEGON FLT PERP | 3.06% | NULL | -11.40% | 76.82 | 86.70 | 12 |
| 5 | SWK 4.85 11/15/2048 | 4.85% | 11/15/48 | -11.08% | 76.08 | 85.56 | 18 |
| 6 | PTTEPT 3.903 12/6/2059 REGS | 3.90% | 12/06/59 | -10.89% | 67.57 | 75.83 | 15 |
| 7 | FMC 6.375 5/18/2053 | 6.38% | 05/18/53 | -10.47% | 85.76 | 95.79 | 19 |
| 8 | TEMASE 2.5 10/6/2070 REGS | 2.50% | 10/06/70 | -10.24% | 54.37 | 60.57 | 18 |
| 9 | THAMES 1.771 8/28/2057 | 1.77% | 08/28/59 | -10.22% | 55.69 | 62.03 | 13 |
| 10 | JAPTOB 3.3 9/14/2051 | 3.30% | 09/14/51 | -10.17% | 60.45 | 67.30 | 15 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 4/4/25 – 4/11/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -1 bps | 6.95% | 6.96% |
| 2 | Energy: Electricity | 13 bps | 4.30% | 4.17% |
| 3 | Utilities: Water | 22 bps | 4.98% | 4.76% |
| 4 | Services: Consumer | 23 bps | 5.30% | 5.08% |
| 5 | Construction & Building | 29 bps | 4.50% | 4.22% |
| 6 | Utilities: Oil & Gas | 29 bps | 4.78% | 4.49% |
| 7 | Consumer Goods: Non-Durable | 29 bps | 4.83% | 4.54% |
| 8 | Telecommunications | 30 bps | 4.69% | 4.39% |
| 9 | Insurance | 30 bps | 4.93% | 4.63% |
| 10 | Media: Broadcasting & Subscription | 31 bps | 4.72% | 4.41% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 4/4/25 – 4/11/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Finance | 77 bps | 5.69% | 4.92% |
| 2 | Aerospace & Defense | 56 bps | 5.72% | 5.16% |
| 3 | Environmental Industries | 53 bps | 4.88% | 4.34% |
| 4 | Transportation: Consumer | 52 bps | 5.47% | 4.95% |
| 5 | Real Estate | 50 bps | 6.52% | 6.02% |
| 6 | Containers, Packaging, & Glass | 48 bps | 5.13% | 4.66% |
| 7 | Banking | 47 bps | 4.64% | 4.17% |
| 8 | Media: Diversified & Production | 47 bps | 4.63% | 4.16% |
| 9 | Forest Products & Paper | 46 bps | 4.63% | 4.16% |
| 10 | Metals & Mining | 46 bps | 5.17% | 4.71% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 4/4/25 – 4/11/25 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 4/4/25 – 4/11/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/4/25 vs. the week ending 4/11/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ROMANI 6.125 1/22/2044 REGS | 6.13% | 01/22/44 | 23 | 194 | 171 | 743% |
| 2 | FRLBP 1 2/9/2028 REGS | 1.00% | 02/09/28 | 39 | 205 | 166 | 426% |
| 3 | STSP 3.875 8/28/2028 | 3.88% | 08/28/28 | 34 | 193 | 159 | 468% |
| 4 | ACAFP 10/21/2025 REGS | #VALUE! | 10/21/25 | 36 | 185 | 149 | 414% |
| 5 | MUBAUH 4.5 11/7/2028 REGS | 4.50% | 11/07/28 | 30 | 178 | 148 | 493% |
| 6 | MUBAUH 3.7 11/7/2049 REGS | 3.70% | 11/07/49 | 26 | 170 | 144 | 554% |
| 7 | MUBAUH 2.5 6/3/2031 | 2.50% | 06/03/31 | 15 | 147 | 132 | 880% |
| 8 | MUBAUH 2.875 5/21/2030 | 2.88% | 05/21/30 | 15 | 138 | 123 | 820% |
| 9 | MUBAUH 3.95 5/21/2050 | 3.95% | 05/21/50 | 14 | 136 | 122 | 871% |
| 10 | GMGAU 4.5 10/15/2037 REGS | 4.50% | 10/15/37 | 26 | 146 | 120 | 462% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/4/25 – 4/11/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MARS 5.2 3/1/2035 144A | 5.20% | 03/01/35 | 39 |
| 2 | MARS 5.65 5/1/2045 144A | 5.65% | 05/01/45 | 39 |
| 3 | JPM 5.502 1/24/2036 | 5.69% | 01/24/36 | 38 |
| 4 | TOYOTA 4.95 1/9/2030 | 4.95% | 01/09/30 | 38 |
| 5 | MARS 5.7 5/1/2055 144A | 5.70% | 05/01/55 | 38 |
| 6 | NEE 5.45 3/15/2035 | 5.45% | 03/15/35 | 38 |
| 7 | MARS 5.8 5/1/2065 144A | 5.80% | 05/01/65 | 37 |
| 8 | INGA 5.525 3/25/2036 | 5.53% | 03/25/36 | 36 |
| 9 | VZ 2.355 3/15/2032 | 2.36% | 03/15/32 | 36 |
| 10 | WM 4.95 3/15/2035 | 4.95% | 03/15/35 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 4/4/25 – 4/11/25 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 4/4/25 – 4/11/25
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