High Yield Corporate Bond Market Summary – Week Ending 10/2/20
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High Yield Corporate Bond Market Summary: Week Ending 10/2/20
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 9/25/20 – 10/2/20
| RANK | NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CONCOA 10 5/1/2023 | 10.00% | 05/01/23 | 17.99% | 84.84 | 71.91 |
| 2 | OPTOES 8.625 6/1/2021 | 8.63% | 06/01/21 | 17.65% | 64.39 | 54.73 |
| 3 | BBBY 5.165 8/1/2044 | 5.17% | 08/01/44 | 13.23% | 79.98 | 70.64 |
| 4 | YPFDAR 8.5 3/23/2025 REGS | 8.50% | 03/23/25 | 11.16% | 78.76 | 70.86 |
| 5 | VERCST 8.375 8/15/2022 | 8.38% | 08/15/22 | 7.91% | 96.46 | 89.39 |
| 6 | WPX 5.25 9/15/2024 | 5.25% | 09/15/24 | 7.89% | 104.13 | 96.51 |
| 7 | OII 4.65 11/15/2024 | 4.65% | 11/15/24 | 7.65% | 77.00 | 71.53 |
| 8 | NM 11.25 8/15/2022 144A | 11.25% | 08/15/22 | 7.51% | 83.07 | 77.26 |
| 9 | FLY 6.375 10/15/2021 | 6.38% | 10/15/21 | 6.39% | 99.70 | 93.71 |
| 10 | TECPET 4.875 12/12/2022 REGS | 4.88% | 12/12/22 | 5.58% | 92.03 | 87.16 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 9/25/20 – 10/2/20
| RANK | NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BTU 6.375 3/31/2025 | 6.38% | 03/31/25 | -17.01% | 36.99 | 44.57 |
| 2 | EUROCA 4.125 11/15/2024 REGS | 4.13% | 11/15/24 | -14.27% | 39.88 | 46.53 |
| 3 | EVEVEN 11 2/15/2023 144A | 11.00% | 02/15/23 | -11.83% | 74.77 | 84.80 |
| 4 | ARGTES 18.2 10/3/2021 | 18.20% | 10/03/21 | -11.32% | 82.04 | 92.52 |
| 5 | TK 9.25 11/15/2022 REGS | 9.25% | 11/15/22 | -10.17% | 87.31 | 97.20 |
| 6 | GLJGR 1.625 4/5/2024 | 1.63% | 04/05/24 | -10.08% | 73.51 | 81.76 |
| 7 | ZAMBIN 5.375 9/20/2022 | 5.38% | 09/20/22 | -9.52% | 48.24 | 53.31 |
| 8 | PBFENE 7.25 6/15/2025 | 7.25% | 06/15/25 | -8.89% | 74.78 | 82.07 |
| 9 | LEBAN 8.25 4/12/2021 | 8.25% | 04/12/21 | -8.85% | 17.64 | 19.35 |
| 10 | PDCAR 7.45 9/1/2024 | 7.45% | 09/01/24 | -8.36% | 55.95 | 61.05 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 9/25/20 – 10/2/20 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 9/25/20 – 10/2/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/25/20 vs. the week ending 10/2/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | NXST 4.75 11/1/2028 144A | 4.75% | 11/01/28 | 75 | 214 | 139 | 185% |
| 2 | OVV 5.625 7/1/2024 | 5.63% | 07/01/24 | 62 | 169 | 107 | 173% |
| 3 | AMC 12 6/15/2026 144A | 12.00% | 06/15/26 | 70 | 170 | 100 | 143% |
| 4 | TMUS 3.3 2/15/2051 144A | 3.30% | 02/15/51 | 68 | 159 | 91 | 134% |
| 5 | GLJGR 1.625 4/5/2024 | 1.63% | 04/05/24 | 135 | 226 | 91 | 67% |
| 6 | FMCN 6.875 10/15/2027 144A | 6.88% | 10/15/27 | 124 | 210 | 86 | 69% |
| 7 | HCA 4.75 5/1/2023 | 4.75% | 05/01/23 | 60 | 143 | 83 | 138% |
| 8 | TMUS 3 2/15/2041 144A | 3.00% | 02/15/41 | 65 | 145 | 80 | 123% |
| 9 | SFRFP 5.125 1/15/2029 144A | 5.13% | 01/15/29 | 150 | 226 | 76 | 51% |
| 10 | EVERRE 8.9 5/24/2021 | 8.90% | 05/24/21 | 193 | 267 | 74 | 38% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 9/25/20 – 10/2/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | BERY 6 10/15/2022 | 6.00% | 10/15/22 | 32 |
| 2 | UBER 7.5 11/1/2023 144A | 7.50% | 11/01/23 | 32 |
| 3 | FMCN 7.25 5/15/2022 | 7.25% | 05/15/22 | 32 |
| 4 | RIG 6.8 3/15/2038 | 6.80% | 03/15/38 | 32 |
| 5 | ARGENT 1 7/9/2029 | 1.00% | 07/09/29 | 32 |
| 6 | AAL 5 6/1/2022 144A | 5.00% | 06/01/22 | 31 |
| 7 | AAL 11.75 7/15/2025 144A | 11.75% | 07/15/25 | 31 |
| 8 | CNC 4.75 5/15/2022 | 4.75% | 05/15/22 | 31 |
| 9 | BACR 7.75 PERP | 7.75% | 08/14/99 | 31 |
| 10 | ARGENT 0.125 7/9/2030 | 0.13% | 07/09/30 | 31 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 9/25/20 – 10/2/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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