High Yield Corporate Bond Market Summary – Week Ending 11/6/20
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High Yield Corporate Bond Market Summary: Week Ending 11/6/20
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 10/30/20 – 11/6/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | 22.28% | 47.94 | 39.20 |
| 2 | REV 5.75 2/15/2021 | 5.75% | 02/15/21 | 19.11% | 36.27 | 30.45 |
| 3 | PBFENE 7.25 6/15/2025 | 7.25% | 06/15/25 | 16.11% | 48.13 | 41.46 |
| 4 | CPE 6.375 7/1/2026 | 6.38% | 07/01/26 | 13.26% | 26.86 | 23.72 |
| 5 | RYAM 5.5 6/1/2024 144A | 5.50% | 06/01/24 | 12.60% | 79.64 | 70.73 |
| 6 | CVI 5.25 2/15/2025 | 5.25% | 02/15/25 | 12.24% | 82.33 | 73.35 |
| 7 | YPFDAR 7 12/15/2047 REGS | 7.00% | 12/15/47 | 11.75% | 55.64 | 49.79 |
| 8 | BONCER 2 11/9/2026 | 2.00% | 11/09/26 | 11.71% | 77.44 | 69.32 |
| 9 | LPI 9.5 1/15/2025 | 9.50% | 01/15/25 | 11.29% | 52.70 | 47.35 |
| 10 | SM 5 1/15/2024 | 5.00% | 01/15/24 | 11.13% | 53.52 | 48.16 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 10/30/20 – 11/6/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | NGL 6.125 3/1/2025 | 6.13% | 03/01/25 | -10.23% | 46.50 | 51.81 |
| 2 | NAVIRA 0 11/15/2024 REGS | 3.73% | 11/15/24 | -10.17% | 45.63 | 50.80 |
| 3 | TZA 8.25 8/9/2024 | 8.25% | 08/09/24 | -9.96% | 54.88 | 60.95 |
| 4 | NATCIN 5.875 4/15/2028 144A | 5.88% | 04/15/28 | -8.25% | 63.73 | 69.46 |
| 5 | FINDEP 8 7/19/2024 REGS | 8.00% | 07/19/24 | -5.34% | 65.87 | 69.58 |
| 6 | BCGBK 6.75 3/15/2023 | 6.75% | 03/15/23 | -3.54% | 26.93 | 27.92 |
| 7 | HTZ 6 1/15/2028 144A | 6.00% | 01/15/28 | -3.40% | 38.55 | 39.91 |
| 8 | ETHOPI 6.625 12/11/2024 | 6.63% | 12/11/24 | -2.93% | 97.77 | 100.73 |
| 9 | CXW 4.625 5/1/2023 | 4.63% | 05/01/23 | -2.75% | 89.23 | 91.76 |
| 10 | CNICLN 0 7/3/2023 | 6.48% | 07/03/23 | -2.15% | 102.50 | 104.75 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 10/30/20 – 11/6/20 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 10/30/20 – 11/6/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 10/30/20 vs. the week ending 11/6/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | FOUR 4.625 11/1/2026 144A | 4.63% | 11/01/26 | 74 | 135 | 61 | 82% |
| 2 | PVH 4.625 7/10/2025 | 4.63% | 07/10/25 | 26 | 74 | 48 | 185% |
| 3 | PACD 11 4/1/2024 144A | 11.00% | 04/01/24 | 129 | 170 | 41 | 32% |
| 4 | LAMEBZ 4.75 10/20/2030 REGS | 4.75% | 10/20/30 | 140 | 180 | 40 | 29% |
| 5 | RIG 7.35 12/15/2041 | 7.35% | 12/15/41 | 164 | 204 | 40 | 24% |
| 6 | ENTRIO 8.75 2/8/2025 | 8.75% | 02/08/25 | 133 | 168 | 35 | 26% |
| 7 | AR 5.375 11/1/2021 | 5.38% | 11/01/21 | 255 | 288 | 33 | 13% |
| 8 | ARGV 20.5031 10/4/2022 | 31.75% | 10/04/22 | 8 | 40 | 32 | 400% |
| 9 | PBFX 6.875 5/15/2023 | 6.88% | 05/15/23 | 168 | 200 | 32 | 19% |
| 10 | ETEGA 2.75 10/8/2026 | 2.75% | 10/08/26 | 104 | 135 | 31 | 30% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 10/30/20 – 11/6/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ROLLS 5.75 10/15/2027 REGS | 5.75% | 10/15/27 | 33 |
| 2 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 33 |
| 3 | PETBRA 5.625 5/20/2043 | 5.63% | 05/20/43 | 32 |
| 4 | PETBRA 6.875 1/20/2040 | 6.88% | 01/20/40 | 32 |
| 5 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | 32 |
| 6 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 32 |
| 7 | PETBRA 6.85 6/5/2015 | 6.85% | 06/05/15 | 32 |
| 8 | PETBRA 6.25 3/17/2024 | 6.25% | 03/17/24 | 31 |
| 9 | PETBRA 7.375 1/17/2027 | 7.38% | 01/17/27 | 31 |
| 10 | PETBRA 4.375 5/20/2023 | 4.38% | 05/20/23 | 31 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 10/30/20 – 11/6/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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