High Yield Corporate Bond Market Summary – Week Ending 4/23/21
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High Yield Corporate Bond Market Summary: Week Ending 4/23/21
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 4/16/21 – 4/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CHQENE 5.625 3/18/2022 | 5.63% | 03/18/22 | 17.66% | 61.77 | 52.50 |
| 2 | MTNLN 9.5 1/31/2024 REGS | 9.50% | 01/31/24 | 11.16% | 58.07 | 52.24 |
| 3 | ECUA 0.5 7/31/2035 REGS | 0.50% | 07/31/35 | 9.68% | 68.66 | 62.60 |
| 4 | CDRSM 7.625 11/1/2021 | 11.63% | 11/01/23 | 9.55% | 61.64 | 56.27 |
| 5 | ELLAKT 6.375 12/15/2024 REGS | 6.38% | 12/15/24 | 8.06% | 92.66 | 85.75 |
| 6 | CHGRAU 9.109 PERP | 9.91% | 10/30/99 | 7.95% | 67.00 | 62.06 |
| 7 | DALWAN 8.875 3/21/2023 | 8.88% | 03/21/23 | 7.82% | 93.02 | 86.27 |
| 8 | RALFP 3.4 1/31/2022 | 3.40% | 01/31/22 | 5.53% | 31.33 | 29.69 |
| 9 | FTR 7.875 1/15/2027 | 7.88% | 01/15/27 | 5.33% | 69.85 | 66.32 |
| 10 | DSPORT 5.375 8/15/2026 144A | 5.38% | 08/15/26 | 5.31% | 69.24 | 65.74 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 4/16/21 – 4/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ARGTES 15.5 10/17/2026 | 15.50% | 10/17/26 | -18.54% | 38.23 | 46.93 |
| 2 | CREAL 9.125 PERP REGS | 9.13% | 11/29/99 | -10.84% | 80.10 | 89.84 |
| 3 | HNTOIL 6.375 6/1/2028 REGS | 6.38% | 06/01/28 | -8.31% | 97.46 | 106.29 |
| 4 | MNK 5.5 4/15/2025 | 5.50% | 04/15/25 | -7.62% | 68.98 | 74.67 |
| 5 | BUEAIR 0 1/23/2022 | 39.25% | 01/23/22 | -6.94% | 99.21 | 106.61 |
| 6 | FINDEP 8 7/19/2024 REGS | 8.00% | 07/19/24 | -6.78% | 82.36 | 88.35 |
| 7 | ORAZEN 5.625 4/28/2027 | 5.63% | 04/28/27 | -6.60% | 97.07 | 103.93 |
| 8 | MINSUR 6.25 2/7/2024 | 6.25% | 02/07/24 | -6.31% | 102.88 | 109.81 |
| 9 | DOCUFO 10.25 7/24/2024 REGS | 10.25% | 07/24/24 | -6.29% | 92.56 | 98.77 |
| 10 | SRILAN 6.35 6/28/2024 REGS | 6.35% | 06/28/24 | -6.15% | 68.43 | 72.92 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/16/21 – 4/23/21 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 4/16/21 – 4/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/16/21 vs. the week ending 4/23/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | AAL 3.75 3/1/2025 144A | 3.75% | 03/01/25 | 175 | 293 | 118 | 67% |
| 2 | HCELEC 6.625 5/18/2020 | 6.63% | 05/18/20 | 5 | 83 | 78 | 1560% |
| 3 | GCLNE 7.1 1/30/2021 | 7.10% | 01/30/21 | 46 | 121 | 75 | 163% |
| 4 | ECPG 5.375 2/15/2026 144A | 5.38% | 02/15/26 | 29 | 90 | 61 | 210% |
| 5 | FOUIHK 0 5/21/2021 | 4.19% | 05/21/21 | 39 | 92 | 53 | 136% |
| 6 | OLN 10 10/15/2025 | 10.00% | 10/15/25 | 178 | 231 | 53 | 30% |
| 7 | BIGSKY 7.25 5/1/2025 144A | 7.25% | 05/01/25 | 152 | 194 | 42 | 28% |
| 8 | OECENG 7 10/21/2024 REGS | 7.00% | 10/21/24 | 12 | 54 | 42 | 350% |
| 9 | PATK 7.5 10/15/2027 144A | 7.50% | 10/15/27 | 125 | 164 | 39 | 31% |
| 10 | CIFIHG 5.375 PERP | 5.38% | 08/24/99 | 88 | 125 | 37 | 42% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/16/21 – 4/23/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | GT 5.125 11/15/2023 | 5.13% | 11/15/23 | 37 |
| 2 | RCL 5.5 4/1/2028 144A | 5.50% | 04/01/28 | 34 |
| 3 | TDG 6.5 5/15/2025 | 6.50% | 05/15/25 | 33 |
| 4 | YUM 5.25 6/1/2026 | 5.25% | 06/01/26 | 33 |
| 5 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 33 |
| 6 | GT 5.25 4/30/2031 | 5.25% | 04/30/31 | 32 |
| 7 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 32 |
| 8 | ARGID 6 2/15/2025 | 6.00% | 02/15/25 | 32 |
| 9 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 32 |
| 10 | URI 5.875 9/15/2026 | 5.88% | 09/15/26 | 32 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 4/16/21 – 4/23/21 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 4/16/21 – 4/23/21
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