High Yield Corporate Bond Market Summary – Week Ending 7/2/21
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High Yield Corporate Bond Market Summary: Week Ending 7/2/21
Our newsletter presents key trends derived from observable 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 6/25/21 – 7/2/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | EXLINT 10 7/15/2023 144A | 10.00% | 07/15/23 | 81.85% | 68.17 | 37.49 |
| 2 | NINE 8.75 11/1/2023 144A | 8.75% | 11/01/23 | 11.04% | 51.48 | 46.36 |
| 3 | RIG 6.8 3/15/2038 | 6.80% | 03/15/38 | 9.71% | 68.31 | 62.26 |
| 4 | GEO 6 4/15/2026 | 6.00% | 04/15/26 | 8.57% | 81.53 | 75.09 |
| 5 | GERLSP 8 10/4/2022 REGS | 8.00% | 10/04/22 | 8.30% | 94.77 | 87.51 |
| 6 | OXY 4.4 4/15/2046 | 4.40% | 04/15/46 | 7.03% | 98.38 | 91.91 |
| 7 | LATAIR 4.5 11/15/2023 | 4.50% | 11/15/23 | 5.33% | 89.73 | 85.19 |
| 8 | CBL 5.95 12/15/2026 | 5.95% | 12/15/26 | 5.15% | 56.32 | 53.56 |
| 9 | CREAL 9.125 PERP REGS | 9.13% | 11/29/99 | 3.99% | 70.87 | 68.15 |
| 10 | NNA 8.125 11/15/2021 | 8.13% | 11/15/21 | 3.89% | 83.77 | 80.63 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 6/25/21 – 7/2/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | THHTGP 7.875 1/17/2021 | 7.88% | 01/17/21 | -12.93% | 30.67 | 35.23 |
| 2 | TLN 6.5 6/1/2025 | 6.50% | 06/01/25 | -11.63% | 64.73 | 73.24 |
| 3 | CSCHCN 10.75 4/11/2023 | 10.75% | 04/11/23 | -7.94% | 76.00 | 82.55 |
| 4 | ARGBON 0.125 7/9/2030 | 0.13% | 07/09/30 | -7.20% | 32.74 | 35.28 |
| 5 | CSCHCN 11.95 2/9/2023 | 11.95% | 02/09/23 | -6.68% | 79.90 | 85.62 |
| 6 | SRILAN 7.85 3/14/2029 REGS | 7.85% | 03/14/29 | -6.07% | 59.58 | 63.43 |
| 7 | PBFENE 6 2/15/2028 | 6.00% | 02/15/28 | -5.35% | 66.47 | 70.22 |
| 8 | MOLAND 11.95 3/4/2024 | 11.95% | 03/04/24 | -4.87% | 88.20 | 92.72 |
| 9 | TIANHL 11.5 10/24/2022 | 11.50% | 10/24/22 | -4.56% | 79.30 | 83.09 |
| 10 | EVERRE 10.5 4/11/2024 | 10.50% | 04/11/24 | -4.52% | 71.14 | 74.50 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 6/25/21 – 7/2/21 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 6/25/21 – 7/2/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 6/25/21 vs. the week ending 7/2/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CPE 8 8/1/2028 144A | 8.00% | 08/01/28 | 185 | 304 | 119 | 64% |
| 2 | CHTR 4.5 5/1/2032 | 4.50% | 05/01/32 | 75 | 142 | 67 | 89% |
| 3 | GCLNE 10 1/30/2024 | 10.00% | 01/30/24 | 59 | 112 | 53 | 90% |
| 4 | BACR 0 4/29/2049 | 2.42% | 04/29/49 | 41 | 85 | 44 | 107% |
| 5 | APXSEC 7.625 9/1/2023 | 7.63% | 09/01/23 | 200 | 244 | 44 | 22% |
| 6 | APXSEC 7.875 12/1/2022 | 7.88% | 12/01/22 | 195 | 238 | 43 | 22% |
| 7 | AIG 4.875 6/1/2022 | 4.88% | 06/01/22 | 82 | 122 | 40 | 49% |
| 8 | TLN 7.25 5/15/2027 | 7.25% | 05/15/27 | 220 | 260 | 40 | 18% |
| 9 | THSCPA 6.95 6/18/2022 | 6.95% | 06/18/22 | 150 | 190 | 40 | 27% |
| 10 | COLGTE 5.875 7/1/2029 | 5.88% | 07/01/29 | 158 | 196 | 38 | 24% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 6/25/21 – 7/2/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | X 6.875 8/15/2025 | 6.88% | 08/15/25 | 38 |
| 2 | SIRI 3.875 8/1/2022 144A | 3.88% | 08/01/22 | 37 |
| 3 | CPE 6.25 4/15/2023 | 6.25% | 04/15/23 | 37 |
| 4 | BCULC 4.25 5/15/2024 | 4.25% | 05/15/24 | 36 |
| 5 | THC 5.125 5/1/2025 | 5.13% | 05/01/25 | 36 |
| 6 | QBRCN 5 7/15/2022 | 5.00% | 07/15/22 | 35 |
| 7 | BERY 5.125 7/15/2023 | 5.13% | 07/15/23 | 35 |
| 8 | GNW 7.625 9/24/2021 | 7.63% | 09/24/21 | 34 |
| 9 | NAVI 7.25 1/25/2022 | 7.25% | 01/25/22 | 34 |
| 10 | TEVA 3.15 10/1/2026 | 3.15% | 10/01/26 | 34 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 6/25/21 – 7/2/21 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 6/25/21 – 7/2/21
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