Investment Grade Corporate Bond Market Summary – Week Ending 12/19/25
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 12/19/25, issue size of $50 million and larger
| Issue | Collateral Type | Amt Issued (MM) | Px at Issuance | Yield at Issuance (%) | Spread at Issue |
| Willis North America Inc. (USD) 4.55% 3/15/2031 | Senior Notes | 700 | 99.84 | 4.58 | 85 |
| Citigroup Global Markets Holdings Inc. (USD) FLT% 1/4/2027 | Floating Notes | 500 | 100 | – | – |
| BofA Finance LLC (USD) 4.125% 1/15/2027 | Senior Notes | 150 | – | – | – |
Top 10 Performers
Showcases the top 10 IG Corp performers based on the largest bid price increases between 12/12/25 – 12/19/25
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | GYCGR 6.332 PERP | 6.29% | — | ▲ 5.81% | 94.50 | 89.31 | 12 |
| 2 | MS 0 4/10/2028 | 0.00% | 04/10/28 | ▲ 3.57% | 114.38 | 110.43 | 4 |
| 3 | OMCL 1 12/1/2029 | 1.00% | 12/01/29 | ▲ 2.86% | 108.07 | 105.07 | 4 |
| 4 | FUNOTR 6.39 1/15/2050 REGS | 6.39% | 01/15/50 | ▲ 2.04% | 94.27 | 92.39 | 11 |
| 5 | ROMANI 3.375 1/28/2050 REGS | 3.38% | 01/28/50 | ▲ 1.86% | 63.27 | 62.11 | 17 |
| 6 | JBLU 9.875 9/20/2031 | 9.88% | 09/20/31 | ▲ 1.73% | 101.06 | 99.34 | 30 |
| 7 | WGL 3.796 9/15/2046 | 3.80% | 09/15/46 | ▲ 1.57% | 77.58 | 76.38 | 9 |
| 8 | NWG 9 PERP | 9.00% | 12/31/49 | ▲ 1.52% | 150.94 | 148.67 | 2 |
| 9 | IBRD 0 5/25/2033 | 0.00% | 05/25/33 | ▲ 1.49% | 51.62 | 50.86 | 2 |
| 10 | NEXTPR 7.375 2/13/2034 REGS | 7.38% | 02/13/34 | ▲ 1.46% | 111.32 | 109.71 | 7 |
Bottom 10 Performers
Showcases the bottom 10 IG Corp performers based on the largest bid price decreases between 12/12/25 – 12/19/25
| Rank | Bond Name | Coupon | Maturity | Change | PRC | PRC-1W | Dealers |
| 1 | WBD 5.05 3/15/2042 | 5.05% | 03/15/42 | ▼ -6.95% | 65.99 | 70.93 | 7 |
| 2 | TELVIS 6.625 1/15/2040 | 6.63% | 01/15/40 | ▼ -5.81% | 85.72 | 91.01 | 15 |
| 3 | FMC 6.375 5/18/2053 | 6.38% | 05/18/53 | ▼ -3.87% | 74.53 | 77.54 | 25 |
| 4 | SHJGOV 4 7/28/2050 REGS | 4.00% | 07/28/50 | ▼ -2.78% | 66.55 | 68.45 | 19 |
| 5 | RAIZBZ 6.45 3/5/2034 REGS | 6.45% | 03/05/34 | ▼ -2.63% | 81.62 | 83.83 | 23 |
| 6 | ORCL 3.6 4/1/2040 | 3.60% | 04/01/40 | ▼ -2.51% | 73.70 | 75.60 | 25 |
| 7 | WESUNI 4.781 7/1/2016 | 4.78% | 07/01/16 | ▼ -2.09% | 79.02 | 80.70 | 3 |
| 8 | BSPEED 10.5 4/3/2031 REGS | 10.50% | 04/03/31 | ▼ -1.98% | 93.28 | 95.16 | 13 |
| 9 | PARA 6.375 3/30/2062 | 7.74% | 03/30/62 | ▼ -1.94% | 93.83 | 95.69 | 24 |
| 10 | WHR 5.75 3/1/2034 | 5.75% | 03/01/34 | ▼ -1.77% | 93.76 | 95.45 | 21 |
Top 10 Industry Performers
Showcases the top 10 IG industry performers based on the largest yield increases between 12/12/25 – 12/19/25
| Rank | Industry | Change | YLD | YLD-1W |
| 1 | Services: Business | ▼ -90 bps | 7.19% | 8.10% |
| 2 | Aerospace & Defense | ▼ -63 bps | 4.63% | 5.26% |
| 3 | Containers, Packaging, & Glass | ▼ -39 bps | 4.08% | 4.47% |
| 4 | Transportation: Consumer | ▼ -12 bps | 4.42% | 4.53% |
| 5 | Media: Advertising, Printing & Publishing | ▼ -10 bps | 7.07% | 7.17% |
| 6 | Chemicals, Plastics & Rubber | ▼ -8 bps | 4.93% | 5.01% |
| 7 | Energy: Oil & Gas | ▼ -8 bps | 5.00% | 5.08% |
| 8 | Construction & Building | ▼ -7 bps | 4.19% | 4.26% |
| 9 | Services: Consumer | ▼ -7 bps | 4.77% | 4.84% |
| 10 | Media: Broadcasting & Subscription | ▼ -7 bps | 4.46% | 4.53% |
Bottom 10 Industry Performers
Showcases the bottom 10 IG industry performers based on the largest yield decreases between 12/12/25 – 12/19/25
| Rank | Industry | Change | YLD | YLD-1W |
| 1 | Finance | ▲ 23 bps | 5.25% | 5.02% |
| 2 | Hotel, Gaming & Leisure | ▲ 17 bps | 4.89% | 4.72% |
| 3 | Sovereign & Public Finance | ▲ 17 bps | 3.96% | 3.79% |
| 4 | Energy: Electricity | ▲ 15 bps | 5.40% | 5.25% |
| 5 | Banking | ▲ 14 bps | 4.47% | 4.32% |
| 6 | Utilities: Water | ▲ 14 bps | 5.20% | 5.06% |
| 7 | Telecommunications | ▲ 12 bps | 4.33% | 4.21% |
| 8 | Capital Equipment | ▲ 9 bps | 4.39% | 4.30% |
| 9 | Utilities: Oil & Gas | ▲ 7 bps | 4.35% | 4.28% |
| 10 | Metals & Mining | — 0 bps | 4.56% | 4.55% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/12/25 – 12/19/25 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 12/12/25 – 12/19/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/12/25 vs. the week ending 12/19/25
| Rank | Tranche | Coupon | Maturity | Prior Week | This Week | Increase | % Increase |
| 1 | GS 5.016 10/23/2035 | 5.08% | 10/23/35 | 81 | 243 | 162 | ▲ 200% |
| 2 | MCD 5.2 5/17/2034 | 5.20% | 05/17/34 | 120 | 260 | 140 | ▲ 117% |
| 3 | TD 4.03 1/23/2036 | 3.90% | 01/23/36 | 33 | 165 | 132 | ▲ 400% |
| 4 | WFC 4.892 9/15/2036 | 5.00% | 09/15/36 | 258 | 370 | 112 | ▲ 43% |
| 5 | SHJGOV 4 7/28/2050 144A | 4.00% | 07/28/50 | 70 | 182 | 112 | ▲ 160% |
| 6 | MACQUARIE BK LTD SR MEDIUM | 4.33% | 06/12/28 | 167 | 278 | 111 | ▲ 66% |
| 7 | SHJGOV 4.375 3/10/2051 144A | 4.38% | 03/10/51 | 66 | 172 | 106 | ▲ 161% |
| 8 | SHJGOV 3.625 3/10/2033 144A | 3.63% | 03/10/33 | 66 | 172 | 106 | ▲ 161% |
| 9 | MET 3.625 3/26/2034 | 3.63% | 03/26/34 | 62 | 155 | 93 | ▲ 150% |
| 10 | W 7.25 10/31/2029 REGS | 7.25% | 10/31/29 | 138 | 230 | 92 | ▲ 67% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/12/25 – 12/19/25
| Rank | Tranche | Coupon | Maturity | Dealers |
| 1 | HSBC 8 PERP | 7.60% | — | 40 |
| 2 | HSBC 6 PERP | 6.00% | — | 39 |
| 3 | WFC 4.892 9/15/2036 | 5.00% | 09/15/36 | 38 |
| 4 | HSBC 4.6 PERP | 7.39% | — | 37 |
| 5 | ACAFP 7.125 PERP REGS | 7.13% | — | 36 |
| 6 | TOYOTA 5.35 1/9/2035 | 5.35% | 01/09/35 | 36 |
| 7 | AMAZON 11/20/2035 | 4.65% | 11/20/35 | 36 |
| 8 | HSBC 4 PERP | 6.96% | — | 36 |
| 9 | AMAZON 11/20/2030 | 4.10% | 11/20/30 | 36 |
| 10 | ACAFP 7.125 PERP 144A | 7.13% | — | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/12/25 – 12/19/25 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 12/12/25 – 12/19/25
Related Resources
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