Investment Grade Corporate Bond Market Summary – Week Ending 7/18/25
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Investment Grade Corporate Bond Market Summary: Week Ending 7/18/25
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 7/18/25, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PRC AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Symetra Life Insurance Co. (USD) 6.55% 10/1/2055 | Notes | 500 | 100 | 6.55 | 157 |
| PNC Bank NA (USD) FLT% 7/21/2028 | Floating Rate Notes | 300 | 100 | – | 73 |
| Morgan Stanley (USD) 4.734% 7/18/2031 | Fix-To-Floating Rate Notes | 3000 | 100 | – | 75 |
| Equity BancShares Inc. (USD) 7.125% 8/1/2035 | Fix-To-Floating Rate Notes | 75 | 100 | 7.13 | – |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 7/11/25 – 7/18/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | AARB 5.75 5/7/2035 | 5.74% | 05/07/35 | 3.33% | 103.76 | 100.42 | 4 |
| 2 | GARUDA 6.5 12/28/2031 | 6.50% | 12/28/31 | 2.94% | 78.18 | 75.95 | 10 |
| 3 | RCICN 4.35 5/1/2049 | 4.35% | 05/01/49 | 2.14% | 81.52 | 79.81 | 27 |
| 4 | UGI 5 6/1/2028 | 5.00% | 06/01/28 | 1.71% | 137.55 | 135.24 | 4 |
| 5 | SANTAN 3.6 10/23/2030 | 3.60% | 10/23/30 | 1.63% | 103.32 | 101.66 | 3 |
| 6 | ALB 3.45 11/15/2029 | 3.45% | 11/15/29 | 1.56% | 93.28 | 91.85 | 6 |
| 7 | ATDBCN 4.011 2/12/2036 REGS | 4.01% | 02/12/36 | 1.51% | 100.17 | 98.68 | 16 |
| 8 | ELOFR 4.875 12/8/2028 | 4.88% | 12/08/28 | 1.49% | 90.41 | 89.08 | 23 |
| 9 | GLPCHI 2.95 3/29/2026 | 2.95% | 03/29/26 | 1.35% | 95.36 | 94.09 | 16 |
| 10 | NSANY 2.75 3/9/2028 144A | 2.75% | 03/09/28 | 1.13% | 91.80 | 90.78 | 23 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 7/11/25 – 7/18/25
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|---|
| 1 | TELVIS 5 5/13/2045 | 5.00% | 05/13/45 | -7.07% | 67.35 | 72.48 | 12 |
| 2 | WBD 4.693 5/17/2033 | 4.69% | 05/17/33 | -4.94% | 81.98 | 86.23 | 14 |
| 3 | BHF 4.7 6/22/2047 | 4.70% | 06/22/47 | -4.68% | 72.32 | 75.88 | 19 |
| 4 | SAVE 11 3/12/2030 144A | 11.00% | 03/12/30 | -4.61% | 65.67 | 68.84 | 17 |
| 5 | DUKUNI 2.832 10/1/2055 | 2.83% | 10/01/55 | -3.26% | 58.82 | 60.80 | 4 |
| 6 | BA 3.95 8/1/2059 | 3.95% | 08/01/59 | -2.60% | 66.67 | 68.45 | 21 |
| 7 | HPE 5.6 10/15/2054 | 5.60% | 10/15/54 | -2.47% | 90.64 | 92.94 | 28 |
| 8 | GM 5.4 4/1/2048 | 5.40% | 04/01/48 | -2.40% | 85.70 | 87.81 | 22 |
| 9 | ICE 5.2 6/15/2062 | 5.20% | 06/15/62 | -2.39% | 90.65 | 92.87 | 23 |
| 10 | JBLU 9.875 9/20/2031 144A | 9.88% | 09/20/31 | -2.34% | 95.09 | 97.37 | 31 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 7/11/25 – 7/18/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -127 bps | 4.43% | 5.70% |
| 2 | Services: Consumer | -79 bps | 4.93% | 5.72% |
| 3 | Consumer Goods: Non-Durable | -62 bps | 4.14% | 4.76% |
| 4 | Utilities: Water | -32 bps | 4.83% | 5.15% |
| 5 | Construction & Building | -12 bps | 4.33% | 4.44% |
| 6 | Telecommunications | -5 bps | 4.33% | 4.39% |
| 7 | Forest Products & Paper | -5 bps | 4.04% | 4.09% |
| 8 | Transportation: Cargo | -5 bps | 4.80% | 4.85% |
| 9 | Banking | -4 bps | 4.41% | 4.45% |
| 10 | Utilities: Electric | -4 bps | 4.21% | 4.25% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 7/11/25 – 7/18/25
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Wholesale | 50 bps | 5.42% | 4.91% |
| 2 | Finance | 44 bps | 6.22% | 5.78% |
| 3 | Real Estate | 26 bps | 6.20% | 5.94% |
| 4 | Services: Business | 19 bps | 5.80% | 5.61% |
| 5 | Sovereign & Public Finance | 16 bps | 4.00% | 3.84% |
| 6 | Retail | 8 bps | 4.82% | 4.73% |
| 7 | Environmental Industries | 4 bps | 4.25% | 4.21% |
| 8 | Transportation: Consumer | 4 bps | 4.58% | 4.55% |
| 9 | Energy: Electricity | 2 bps | 4.11% | 4.09% |
| 10 | Media: Broadcasting & Subscription | 2 bps | 4.45% | 4.43% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 7/11/25 – 7/18/25 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 7/11/25 – 7/18/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/11/25 vs. the week ending 7/18/25
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CERVIM FLT 2/15/2029 144A | 7.25% | 02/15/29 | 40 | 200 | 160 | 400% |
| 2 | AEE 5.2 4/1/2034 | 5.20% | 04/01/34 | 94 | 249 | 155 | 165% |
| 3 | CPGX 6.497 8/15/2043 REGS | 6.50% | 08/15/43 | 70 | 185 | 115 | 164% |
| 4 | CPGX 6.714 8/15/2063 REGS | 6.71% | 08/15/63 | 72 | 186 | 114 | 158% |
| 5 | AXON 6.125 3/15/2030 144A | 6.13% | 03/15/30 | 85 | 198 | 113 | 133% |
| 6 | ALVGR 0.875 1/15/2026 REGS | 0.88% | 01/15/26 | 70 | 175 | 105 | 150% |
| 7 | MUTOMA 5.8 7/27/2026 REGS | 5.80% | 07/27/26 | 56 | 158 | 102 | 182% |
| 8 | EDF 6 1/22/2014 REGS | 6.00% | 01/22/14 | 61 | 152 | 91 | 149% |
| 9 | ISPIM 4 9/23/2029 144A | 4.00% | 09/23/29 | 123 | 205 | 82 | 67% |
| 10 | EDF 6 1/22/2014 144A | 6.00% | 01/22/14 | 61 | 143 | 82 | 134% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 7/11/25 – 7/18/25
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TOYOTA 5.053 6/30/2035 | 5.05% | 06/30/35 | 38 |
| 2 | T 5.4 2/15/2034 | 5.40% | 02/15/34 | 36 |
| 3 | GS 5.536 1/28/2036 | 5.72% | 01/28/36 | 36 |
| 4 | UNH 5.95 6/15/2055 | 5.95% | 06/15/55 | 36 |
| 5 | HSBC 8 PERP | 8.00% | 09/07/99 | 35 |
| 6 | DUK 5.25 3/15/2035 | 5.25% | 03/15/35 | 35 |
| 7 | BMY 5.55 2/22/2054 | 5.55% | 02/22/54 | 35 |
| 8 | BMY 5.55 2/22/2054 | 5.55% | 02/22/54 | 35 |
| 9 | DUK 5.05 3/15/2035 | 5.05% | 03/15/35 | 35 |
| 10 | NI 5.85 4/1/2055 | 5.85% | 04/01/55 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 7/11/25 – 7/18/25 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 7/11/25 – 7/18/25
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