Corporates
November 2025

Investment Grade Corporate Bond Market Summary – Week Ending 11/7/25

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 11/7/25, issue size of $50 million and larger

Issue Collateral Type Amt Issued (MM) Px at Issuance Yield at Issuance (%) Spread at Issue
Exxon Mobil Corp. (USD) FLT% 11/12/2075 Floating Rate Notes 111 100
Sobeys Inc. (CAD) 3.1% 10/30/2028 Senior Notes 300 100 3.10
Textron Inc. (USD) 4.95% 3/15/2036 Notes 500 99.981 4.95 97

Top 10 Performers

Showcases the top 10 IG Corp performers based on the largest bid price increases between 10/31/25 – 11/7/25

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 OSIS 2.25 8/1/2029 2.25% 08/01/29 ▲ 10.14% 159.19 144.54 8
2 WLNFP 4.125 9/12/2028 4.13% 09/12/28 ▲ 7.09% 89.43 83.51 20
3 WBD 5.05 3/15/2042 5.05% 03/15/42 ▲ 4.50% 73.02 69.88 5
4 KSS 5.55 7/17/2045 5.55% 07/17/45 ▲ 4.32% 67.02 64.24 23
5 RAIZBZ 6.95 3/5/2054 REGS 6.95% 03/05/54 ▲ 3.20% 80.98 78.47 24
6 AES 4.65 6/1/2043 REGS 4.65% 06/01/43 ▲ 2.37% 86.00 84.00 7
7 NIDEC 0.046 3/30/2026 0.05% 03/30/26 ▲ 1.72% 97.12 95.48 11
8 AXASA FLT PERP 2.81% ▲ 1.34% 99.93 98.61 9
9 BMY 6.4 11/15/2063 6.40% 11/15/63 ▲ 1.25% 113.31 111.91 26
10 VZ 3 3/22/2027 3.00% 03/22/27 ▲ 0.87% 99.68 98.83 15

Bottom 10 Performers

Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 10/31/25 – 11/7/25

Rank Bond Name Coupon Maturity Change PRC PRC-1W Dealers
1 VNKRLE 3.975 11/9/2027 3.98% 11/09/27 ▼ -17.07% 59.22 71.42 18
2 CITCON 7.875 PERP 7.35% ▼ -9.69% 88.15 97.61 15
3 FMC 4.5 10/1/2049 4.50% 10/01/49 ▼ -7.19% 67.04 72.24 22
4 WLK 3.375 8/15/2061 3.38% 08/15/61 ▼ -4.66% 60.25 63.20 18
5 COXENT 3.6 6/15/2051 144A 3.60% 06/15/51 ▼ -4.28% 63.66 66.50 16
6 ICE 3 9/15/2060 3.00% 09/15/60 ▼ -4.16% 60.85 63.49 19
7 BRKHEC 3.3 3/15/2051 3.30% 03/15/51 ▼ -4.04% 64.91 67.64 19
8 DHR 2.8 12/10/2051 2.80% 12/10/51 ▼ -4.00% 63.69 66.35 20
9 MSFT 4 2/12/2055 4.00% 02/12/55 ▼ -3.85% 81.48 84.74 16
10 LMT 4.3 6/15/2062 4.30% 06/15/62 ▼ -3.67% 80.12 83.18 21

Top 10 Industry Performers

Showcases the top 10 IG industry performers based on the largest yield increases between 10/31/25 – 11/7/25

Rank Industry Change YLD YLD-1W
1 Hotel, Gaming & Leisure ▼ -15275 bps 4.63% 157.38%
2 Services: Business ▼ -110 bps 5.87% 6.97%
3 Wholesale ▼ -26 bps 4.78% 5.04%
4 Aerospace & Defense ▼ -10 bps 5.01% 5.11%
5 Energy: Oil & Gas ▼ -8 bps 4.93% 5.01%
6 Transportation: Cargo ▼ -7 bps 4.55% 4.61%
7 Utilities: Water ▼ -5 bps 4.88% 4.93%
8 Real Estate ▼ -3 bps 5.83% 5.86%
9 Services: Consumer ▼ -3 bps 4.77% 4.80%
10 Consumer Goods: Non-Durable ▼ -2 bps 3.94% 3.96%

Bottom 10 Industry Performers

Showcases the bottom 10 IG industry performers based on the largest yield decreases between 10/31/25 – 11/7/25

Rank Industry Change YLD YLD-1W
1 Media: Advertising, Printing & Publishing 146 bps 7.56% 6.10%
2 Finance 56 bps 5.82% 5.27%
3 Banking 38 bps 4.75% 4.37%
4 Automotive 13 bps 4.25% 4.12%
5 Telecommunications 11 bps 4.09% 3.97%
6 Capital Equipment 9 bps 4.22% 4.13%
7 Containers, Packaging, & Glass 8 bps 4.04% 3.96%
8 Consumer Goods: Durable 7 bps 4.12% 4.05%
9 Media: Broadcasting & Subscription 6 bps 4.39% 4.34%
10 Retail 6 bps 4.38% 4.32%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 10/31/25 – 11/7/25 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 10/31/25 – 11/7/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/31/25 vs. the week ending 11/7/25

Rank Tranche Coupon Maturity Prior Week This Week Increase % Increase
1 ORBIA 2.875 5/11/2031 144A 2.88% 05/11/31 76 192 116 ▲ 153%
2 ORBIA 5.875 9/17/2044 144A 5.88% 09/17/44 72 182 110 ▲ 153%
3 ORBIA 5.5 1/15/2048 144A 5.50% 01/15/48 72 182 110 ▲ 153%
4 ORBIA 6.75 9/19/2042 144A 6.75% 09/19/42 68 176 108 ▲ 159%
5 META 4.3 8/15/2029 4.30% 08/15/29 254 322 68 ▲ 27%
6 HTHROW 2.75 10/13/2029 2.75% 10/13/29 115 183 68 ▲ 59%
7 EDF 6 1/22/2014 REGS 6.00% 01/22/14 80 148 68 ▲ 85%
8 USB 5.424 2/12/2036 5.33% 02/12/36 256 323 67 ▲ 26%
9 GOOGL 4 5/15/2030 4.00% 05/15/30 249 315 66 ▲ 27%
10 META 4.8 5/15/2030 4.80% 05/15/30 287 352 65 ▲ 23%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 10/31/25 – 11/7/25

Rank Tranche Coupon Maturity Dealers
1 HSBC 8 PERP 7.60% 39
2 LLOYDS 4.425 11/4/2031 4.50% 11/4/2031 38
3 HSBC 5.133 11/6/2036 5.35% 11/6/2036 38
4 TD 4.808 6/3/2030 4.81% 6/3/2030 37
5 BAC 5.464 5/9/2036 5.56% 5/9/2036 37
6 HSBC 6 PERP 6.00% 37
7 HSBC 4 PERP 6.96% 36
8 HSBC 4.6 PERP 7.39% 36
9 GOOGL 4.5 5/15/2035 4.50% 5/15/2035 36
10 HSBC 6.5 PERP 6.50% 35

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 10/31/25 – 11/7/25 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 10/31/25 – 11/7/25



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