Investment Grade Corporate Bond Market Summary – Week Ending 11/21/25
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 11/21/25, issue size of $50 million and larger
| Issue | Collateral Type | Amt Issued (MM) | Px at Issuance | Yield at Issuance (%) | Spread at Issue |
| CF Industries Hldg Inc. (USD) 5.3% 11/26/2035 | Senior Notes | 1000 | 99.923 | 5.31 | 120 |
| Goldman Sachs Private Credit Corp. (USD) 5.875% 1/31/2031 | Senior Notes | 500 | 100 | 5.88 | 245 |
| EOG Resources Inc. (USD) 4.4% 1/15/2031 | Senior Notes | 0 | 99.941 | 4.41 | 73 |
| Baxter International Inc. (USD) 5.65% 12/15/2035 | Senior Notes | 1000 | 99.899 | 5.66 | 155 |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 11/14/25 – 11/21/25
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | WPPLN 2.875 9/14/2046 | 2.88% | 09/14/46 | ▲ 5.66% | 66.87 | 63.29 | 17 |
| 2 | BRKHEC 5.35 12/1/2053 | 5.35% | 12/01/53 | ▲ 2.92% | 89.84 | 87.29 | 21 |
| 3 | WLNFP 4.125 9/12/2028 | 4.13% | 09/12/28 | ▲ 2.58% | 87.44 | 85.24 | 17 |
| 4 | GYCGR 5.901 PERP | 4.83% | NULL | ▲ 2.31% | 90.72 | 88.67 | 10 |
| 5 | ATSAV 5 PERP | 12.34% | NULL | ▲ 1.93% | 95.07 | 93.27 | 14 |
| 6 | LYB 3.375 5/1/2030 | 3.38% | 05/01/30 | ▲ 1.80% | 94.63 | 92.95 | 4 |
| 7 | SESGFP 4.875 6/24/2033 | 4.88% | 06/24/33 | ▲ 1.53% | 102.07 | 100.53 | 14 |
| 8 | WHR 5.5 3/1/2033 | 5.50% | 03/01/33 | ▲ 1.50% | 94.48 | 93.08 | 22 |
| 9 | EIX 5.25 3/15/2032 | 5.25% | 03/15/32 | ▲ 0.90% | 99.68 | 98.79 | 20 |
| 10 | STERV 0.625 12/2/2030 | 0.63% | 12/02/30 | ▲ 0.84% | 90.50 | 89.75 | 16 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 11/14/25 – 11/21/25
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | FMC 8.45 11/1/2055 | 8.45% | 11/01/55 | ▼ -6.19% | 82.20 | 87.63 | 24 |
| 2 | XRAY 8.375 9/12/2055 | 8.38% | 09/12/55 | ▼ -4.87% | 94.41 | 99.24 | 20 |
| 3 | KSS 5.55 7/17/2045 | 5.55% | 07/17/45 | ▼ -3.90% | 64.13 | 66.73 | 22 |
| 4 | DNDCN 8.625 4/15/2029 144A | 8.63% | 04/15/29 | ▼ -3.00% | 88.75 | 91.49 | 23 |
| 5 | ANNFND 2.924 10/6/2051 | 2.92% | 10/06/51 | ▼ -2.78% | 77.83 | 80.06 | 16 |
| 6 | CITCON 7.074 PERP | 7.11% | – | ▼ -2.52% | 85.38 | 87.58 | 12 |
| 7 | USB FLT PERP | 5.45% | 12/31/49 | ▼ -2.41% | 78.34 | 80.27 | 5 |
| 8 | BHF 3.85 12/22/2051 | 3.85% | 12/22/51 | ▼ -2.24% | 61.38 | 62.78 | 16 |
| 9 | COXENT 3.6 6/15/2051 144A | 3.60% | 06/15/51 | ▼ -2.07% | 61.89 | 63.20 | 16 |
| 10 | ORBIA 5.5 1/15/2048 REGS | 5.50% | 01/15/48 | ▼ -2.06% | 70.69 | 72.18 | 20 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 11/14/25 – 11/21/25
| Rank | Industry | Change | YLD | YLD-1W |
| 1 | Aerospace & Defense | ▼ -139 bps | 5.32% | 6.71% |
| 2 | Services: Consumer | ▼ -65 bps | 4.81% | 5.46% |
| 3 | Forest Products & Paper | ▼ -13 bps | 3.93% | 4.06% |
| 4 | Banking | ▼ -10 bps | 4.73% | 4.83% |
| 5 | Media: Broadcasting & Subscription | ▼ -9 bps | 4.33% | 4.43% |
| 6 | Utilities: Water | ▼ -8 bps | 4.97% | 5.06% |
| 7 | Consumer Goods: Durable | ▼ -6 bps | 4.08% | 4.14% |
| 8 | Transportation: Consumer | ▼ -5 bps | 4.44% | 4.48% |
| 9 | Wholesale | ▼ -4 bps | 4.96% | 5.00% |
| 10 | Utilities: Oil & Gas | ▼ -4 bps | 4.21% | 4.26% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 11/14/25 – 11/21/25
| Rank | Industry | Change | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | ▲ 45 bps | 4.44% | 3.98% |
| 2 | Services: Business | ▲ 45 bps | 7.37% | 6.92% |
| 3 | Energy: Oil & Gas | ▲ 15 bps | 5.16% | 5.01% |
| 4 | Media: Advertising, Printing & Publishing | ▲ 13 bps | 7.63% | 7.50% |
| 5 | Chemicals, Plastics & Rubber | ▲ 7 bps | 5.02% | 4.95% |
| 6 | Hotel, Gaming & Leisure | ▲ 6 bps | 4.63% | 4.57% |
| 7 | Transportation: Cargo | ▲ 5 bps | 4.62% | 4.57% |
| 8 | Capital Equipment | ▲ 5 bps | 4.32% | 4.27% |
| 9 | Metals & Mining | ▲ 4 bps | 4.50% | 4.46% |
| 10 | Energy: Electricity | ▲ 3 bps | 4.47% | 4.44% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/14/25 – 11/21/25 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 11/14/25 – 11/21/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/14/25 vs. the week ending 11/21/25
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | HKAA 4.05 1/14/2028 | 4.05% | 01/14/28 | 25 | 216 | 191 | ▲ 764% |
| 2 | BMW 4.5 8/11/2030 REGS | 4.50% | 08/11/30 | 150 | 282 | 132 | ▲ 88% |
| 3 | GBLATL 3.125 6/15/2031 REGS | 3.13% | 06/15/31 | 74 | 195 | 121 | ▲ 164% |
| 4 | FFHCN 6.5 5/20/2055 | 6.50% | 05/20/55 | 19 | 129 | 110 | ▲ 579% |
| 5 | HKINTL 3.3 1/11/2028 | 3.30% | 01/11/28 | 29 | 127 | 98 | ▲ 338% |
| 6 | URBREN 3.35 8/27/2027 | 3.35% | 08/27/27 | 20 | 118 | 98 | ▲ 490% |
| 7 | HKINTL 3.85 6/10/2055 | 3.85% | 06/10/55 | 26 | 123 | 97 | ▲ 373% |
| 8 | HKINTL 2.95 6/7/2028 | 2.95% | 06/07/28 | 50 | 142 | 92 | ▲ 184% |
| 9 | FISV 4.75 3/15/2030 | 4.75% | 03/15/30 | 22 | 109 | 87 | ▲ 395% |
| 10 | FFHCN 5.75 5/20/2035 | 5.75% | 05/20/35 | 19 | 106 | 87 | ▲ 458% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/14/25 – 11/21/25
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | HSBC 8 PERP | 7.60% | – | 40 |
| 2 | HSBC 6 PERP | 6.00% | – | 38 |
| 3 | HSBC 5.133 11/6/2036 | 5.34% | 11/06/36 | 37 |
| 4 | HSBC 4 PERP | 6.96% | – | 37 |
| 5 | HSBC 4.6 PERP | 7.39% | – | 37 |
| 6 | LLOYDS 4.425 11/4/2031 | 4.50% | 11/04/31 | 37 |
| 7 | HSBC 6.5 PERP | 6.50% | – | 37 |
| 8 | GOOGL 4.5 5/15/2035 | 4.50% | 05/15/35 | 37 |
| 9 | BAC 5.464 5/9/2036 | 5.55% | 05/09/36 | 36 |
| 10 | GOOGL 11/15/2030 | 4.10% | 11/15/30 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/14/25 – 11/21/25 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 11/14/25 – 11/21/25
Related Resources
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