Investment Grade Corporate Bond Market Summary – Week Ending 5/2/25
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Investment Grade Corporate Bond Market Summary: Week Ending 5/2/25
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 5/2/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Weir Group PLC (USD) 5.35% 5/6/2030 | Senior Notes | 800 | 99.931 | 5.37 | 160 |
| Tyco Electronics Group SA (USD) 4.5% 2/9/2031 | Senior Notes | 450 | 99.516 | 4.6 | 83 |
| Southwestern Public Service Co. (USD) 5.3% 5/15/2035 | First Mortgage Note | 500 | 99.79 | 5.33 | 115 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 4/25/25 – 5/2/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | HAS 5.1 5/15/2044 | 5.10% | 05/15/44 | 5.65% | 86.68 | 82.04 | 12 |
| 2 | TSINGH 5.375 1/31/2023 | 5.38% | 01/31/23 | 5.22% | 84.00 | 79.83 | 10 |
| 3 | MEXCAT 5.5 10/31/2046 REGS | 5.50% | 10/31/46 | 3.76% | 79.41 | 76.53 | 14 |
| 4 | BACR 1 2/16/2029 | 1.00% | 02/16/29 | 3.42% | 102.53 | 99.14 | 4 |
| 5 | LLOYDS 6 11/1/2033 REGS | 6.00% | 11/01/33 | 3.39% | 100.30 | 97.01 | 7 |
| 6 | GLW 4.75 3/15/2042 | 4.75% | 03/15/42 | 3.34% | 88.69 | 85.82 | 16 |
| 7 | PENOMX 4.75 8/6/2050 REGS | 4.75% | 08/06/50 | 3.21% | 73.84 | 71.54 | 16 |
| 8 | PARA 5.9 10/15/2040 | 5.90% | 10/15/40 | 3.20% | 86.96 | 84.26 | 13 |
| 9 | EA 2.95 2/15/2051 | 2.95% | 02/15/51 | 2.99% | 62.26 | 60.45 | 19 |
| 10 | AZN 4.375 8/17/2048 | 4.38% | 08/17/48 | 2.97% | 84.98 | 82.53 | 23 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 4/25/25 – 5/2/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | SAVE 11 3/6/2030 144A | 11.00% | 03/12/30 | -5.94% | 79.13 | 84.12 | 8 |
| 2 | WHR 5.15 3/1/2043 | 5.15% | 03/01/43 | -4.41% | 76.96 | 80.52 | 15 |
| 3 | MLFP 3.25 9/30/2045 | 3.25% | 09/30/45 | -3.73% | 89.43 | 92.89 | 7 |
| 4 | TMO 1.875 10/1/2049 | 1.88% | 10/01/49 | -3.39% | 63.77 | 66.01 | 15 |
| 5 | WPLAU 5.7 9/12/2054 | 5.70% | 09/12/54 | -3.36% | 85.00 | 87.96 | 12 |
| 6 | ROMANI 3.375 1/28/2050 REGS | 3.38% | 01/28/50 | -3.35% | 57.82 | 59.83 | 18 |
| 7 | MDT 1.625 10/15/2050 | 1.63% | 10/15/50 | -3.19% | 59.48 | 61.43 | 16 |
| 8 | EIX 6.2 9/15/2055 | 6.20% | 09/15/55 | -3.17% | 94.37 | 97.46 | 29 |
| 9 | DHR 1.8 9/18/2049 | 1.80% | 09/18/49 | -3.15% | 64.27 | 66.36 | 15 |
| 10 | KO 3.75 8/15/2053 | 3.75% | 08/15/53 | -3.13% | 93.42 | 96.44 | 15 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 4/25/25 – 5/2/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -111 bps | 5.48% | 6.59% |
| 2 | Media: Diversified & Production | -43 bps | 4.10% | 4.53% |
| 3 | Transportation: Consumer | -22 bps | 4.89% | 5.10% |
| 4 | Wholesale | -15 bps | 5.85% | 6.00% |
| 5 | Automotive | -7 bps | 4.72% | 4.79% |
| 6 | Forest Products & Paper | -7 bps | 4.32% | 4.39% |
| 7 | Insurance | -6 bps | 4.65% | 4.71% |
| 8 | Healthcare & Pharmaceuticals | -5 bps | 4.35% | 4.40% |
| 9 | High Tech Industries | -5 bps | 4.65% | 4.70% |
| 10 | Capital Equipment | -5 bps | 3.98% | 4.03% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 4/25/25 – 5/2/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 77 bps | 8.03% | 7.27% |
| 2 | Consumer Goods: Durable | 24 bps | 4.30% | 4.06% |
| 3 | Services: Consumer | 19 bps | 5.04% | 4.85% |
| 4 | Sovereign & Public Finance | 17 bps | 3.77% | 3.60% |
| 5 | Banking | 13 bps | 4.53% | 4.40% |
| 6 | Chemicals, Plastics & Rubber | 10 bps | 5.19% | 5.08% |
| 7 | Utilities: Water | 8 bps | 5.16% | 5.09% |
| 8 | Utilities: Electric | 7 bps | 4.52% | 4.44% |
| 9 | Services: Business | 6 bps | 4.11% | 4.05% |
| 10 | Energy: Oil & Gas | 6 bps | 5.44% | 5.39% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 4/25/25 – 5/2/25 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 4/25/25 – 5/2/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/25/25 vs. the week ending 5/2/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BA 6.528 5/1/2034 | 6.53% | 05/01/34 | 88 | 222 | 134 | 152% |
| 2 | BA 6.858 5/1/2054 | 6.86% | 05/01/54 | 81 | 211 | 130 | 160% |
| 3 | BA 6.298 5/1/2029 | 6.30% | 05/01/29 | 69 | 170 | 101 | 146% |
| 4 | BAC 6.625 PERP | 6.63% | 09/09/99 | 15 | 105 | 90 | 600% |
| 5 | KMI 7.75 10/15/2035 | 7.75% | 01/15/32 | 8 | 91 | 83 | 1038% |
| 6 | ENFRAG 5.375 12/30/2030 144A | 5.38% | 12/30/30 | 86 | 146 | 60 | 70% |
| 7 | VZ 4.78 2/15/2035 | 4.78% | 02/15/35 | 50 | 107 | 57 | 114% |
| 8 | GOOGL 1.1 8/15/2030 | 1.10% | 08/15/30 | 265 | 311 | 46 | 17% |
| 9 | PTTGC 5.2 3/30/2052 144A | 5.20% | 03/30/52 | 30 | 75 | 45 | 150% |
| 10 | MS 5.664 4/17/2036 | 6.15% | 04/17/36 | 236 | 280 | 44 | 19% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/25/25 – 5/2/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | MARS 5.2 3/1/2035 144A | 5.20% | 03/01/35 | 38 |
| 2 | JPM 5.502 1/24/2036 | 5.71% | 01/24/36 | 37 |
| 3 | MARS 5.7 5/1/2055 144A | 5.70% | 05/01/55 | 37 |
| 4 | MARS 5.8 5/1/2065 144A | 5.80% | 05/01/65 | 36 |
| 5 | GS 5.536 1/28/2036 | 5.77% | 01/28/36 | 36 |
| 6 | BAC 5.511 1/24/2036 | 5.70% | 01/24/36 | 36 |
| 7 | MARS 5.65 5/1/2045 144A | 5.65% | 05/01/45 | 35 |
| 8 | MS 5.587 1/18/2036 | 5.81% | 01/18/36 | 35 |
| 9 | MARS 4.8 3/1/2030 144A | 4.80% | 03/01/30 | 34 |
| 10 | GOOGL 2.05 8/15/2050 | 2.05% | 08/15/50 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 4/25/25 – 5/2/25 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 4/25/25 – 5/2/25
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