High Yield Corporate Bond Market Summary – Week Ending 1/8/21
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High Yield Corporate Bond Market Summary: Week Ending 1/8/21
Our newsletter presents key trends derived from observable High Yield Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 12/31/20 – 1/8/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SCN 10.75 8/31/2029 | 10.75% | 08/31/29 | 28.66% | 28.82 | 22.40 |
| 2 | NE 7.875 2/1/2026 REGS | 7.88% | 02/01/26 | 26.40% | 49.92 | 39.50 |
| 3 | AMC 12 6/15/2026 144A | 12.00% | 06/15/26 | 23.26% | 27.13 | 22.01 |
| 4 | ODEBRE 7.35 12/1/2026 REGS | 7.35% | 12/01/26 | 22.69% | 30.90 | 25.19 |
| 5 | SHLFDI 8.25 2/15/2025 REGS | 8.25% | 02/15/25 | 14.26% | 51.40 | 44.98 |
| 6 | NBR 5.75 2/1/2025 | 5.75% | 02/01/25 | 14.02% | 59.09 | 51.82 |
| 7 | NGL 7.5 4/15/2026 | 7.50% | 04/15/26 | 13.97% | 70.07 | 61.48 |
| 8 | RIG 7.35 12/15/2041 | 7.35% | 12/15/41 | 13.62% | 39.74 | 34.98 |
| 9 | CPE 8.25 7/15/2025 | 8.25% | 07/15/25 | 13.37% | 60.84 | 53.67 |
| 10 | ANDRGI 9.5 12/30/2024 REGS | 9.50% | 12/30/24 | 11.11% | 62.97 | 56.68 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 12/31/20 – 1/8/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CHFOTN 8.05 1/13/2025 | 8.05% | 01/13/25 | -19.09% | 66.94 | 82.74 |
| 2 | MDLNIJ 10.75 8/30/2021 | 10.75% | 08/30/21 | -14.27% | 32.30 | 37.68 |
| 3 | ECUA 0.5 7/31/2040 REGS | 0.50% | 07/31/40 | -8.74% | 46.13 | 50.54 |
| 4 | SYNNVX 5.676 4/24/2048 REGS | 5.68% | 04/24/48 | -7.89% | 98.12 | 106.53 |
| 5 | SRILIJ 7.25 1/16/2025 REGS | 7.25% | 01/16/25 | -7.87% | 95.45 | 103.60 |
| 6 | YPFDAR 7 12/15/2047 REGS | 7.00% | 12/15/47 | -5.61% | 66.40 | 70.35 |
| 7 | GNW 6.5 6/15/2034 | 6.50% | 06/15/34 | -5.43% | 91.09 | 96.32 |
| 8 | ARGENT 0.5 7/9/2029 | 0.50% | 07/09/29 | -5.06% | 39.41 | 41.51 |
| 9 | BTU 6 3/31/2022 | 6.00% | 03/31/22 | -4.89% | 70.22 | 73.83 |
| 10 | GTT 7.875 12/31/2024 | 7.88% | 12/31/24 | -4.35% | 37.99 | 39.72 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 12/31/20 – 1/8/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 12/31/20 – 1/8/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 12/31/20 vs. the week ending 1/8/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | FTR 8.5 4/15/2020 | 8.50% | 04/15/20 | 76 | 128 | 52 | 68% |
| 2 | ESKOM 5.75 1/26/2021 | 5.75% | 01/26/21 | 118 | 160 | 42 | 36% |
| 3 | NLSN 5.5 10/1/2021 | 5.50% | 10/01/21 | 173 | 214 | 41 | 24% |
| 4 | IEP 6.25 2/1/2022 | 6.25% | 02/01/22 | 133 | 174 | 41 | 31% |
| 5 | LBGV 6.375 3/9/2020 | 6.38% | 03/09/20 | 70 | 108 | 38 | 54% |
| 6 | RLTAIN 10.75 5/16/2018 | 10.75% | 05/16/18 | 42 | 80 | 38 | 90% |
| 7 | ESKOM 6.35 8/10/2028 REGS | 6.35% | 08/10/28 | 128 | 166 | 38 | 30% |
| 8 | ESKOM 8.45 8/10/2028 REGS | 8.45% | 08/10/28 | 128 | 166 | 38 | 30% |
| 9 | CM 0.5 12/14/2023 | 0.50% | 12/14/23 | 172 | 210 | 38 | 22% |
| 10 | ATALIA 5.125 5/15/2025 144A | 5.13% | 05/15/25 | 29 | 66 | 37 | 128% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 12/31/20 – 1/8/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ENR 7.75 1/15/2027 144A | 7.75% | 01/15/27 | 33 |
| 2 | VVV 4.375 8/15/2025 | 4.38% | 08/15/25 | 32 |
| 3 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 31 |
| 4 | CYH 6.25 3/31/2023 | 6.25% | 03/31/23 | 31 |
| 5 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 30 |
| 6 | PETBRA 7.375 1/17/2027 | 7.38% | 01/17/27 | 30 |
| 7 | MD 5.25 12/1/2023 | 5.25% | 12/01/23 | 30 |
| 8 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 30 |
| 9 | TEP 4.75 10/1/2023 144A | 4.75% | 10/01/23 | 30 |
| 10 | PETBRA 5.75 2/1/2029 | 5.75% | 02/01/29 | 29 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 12/31/20 – 1/8/21 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 12/31/20 – 1/8/21
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