High Yield Corporate Bond Market Summary – Week Ending 9/25/20
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High Yield Corporate Bond Market Summary: Week Ending 9/25/20
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 9/18/20 – 9/25/20
| RANK | NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GARSRL 5.125 10/15/2026 REGS | 5.13% | 10/15/26 | 10.07% | 93.42 | 84.88 |
| 2 | PRTY 0 7/15/2025 144A | 5.75% | 07/15/25 | 8.91% | 74.33 | 68.25 |
| 3 | HOV 10 11/15/2025 144A | 10.00% | 11/15/25 | 8.74% | 79.66 | 73.25 |
| 4 | TFM 9.75 5/1/2023 | 9.75% | 05/01/23 | 4.74% | 89.67 | 85.62 |
| 5 | YNDX 0.75 3/3/2025 | 0.75% | 03/03/25 | 4.72% | 124.35 | 118.74 |
| 6 | RRD 6.625 4/15/2029 | 6.63% | 04/15/29 | 4.46% | 85.12 | 81.48 |
| 7 | AMCEST 5.94 1/15/2053 | 5.94% | 01/15/53 | 3.48% | 136.79 | 132.18 |
| 8 | TWTR 0.25 6/15/2024 | 0.25% | 06/15/24 | 3.12% | 109.22 | 105.91 |
| 9 | NOLSP 8 1/15/2024 | 8.00% | 01/15/24 | 2.65% | 82.12 | 80.00 |
| 10 | KPLDSP 3.9 11/7/2024 | 3.90% | 11/07/24 | 2.44% | 103.47 | 101.00 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 9/18/20 – 9/25/20
| RANK | NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | OAS 6.875 3/15/2022 | 6.88% | 03/15/22 | -39.17% | 14.26 | 23.45 |
| 2 | BUENOS 4 5/15/2035 | 4.00% | 05/15/35 | -22.57% | 37.01 | 47.80 |
| 3 | AMC 6.125 5/15/2027 | 6.13% | 05/15/27 | -18.91% | 22.43 | 27.65 |
| 4 | NBR 0.75 1/15/2024 | 0.75% | 01/15/24 | -17.74% | 19.91 | 24.20 |
| 5 | CLVS 4.5 8/1/2024 | 4.50% | 08/01/24 | -15.01% | 92.97 | 109.39 |
| 6 | EVERRE 7.5 6/28/2023 | 7.50% | 06/28/23 | -15.01% | 72.64 | 85.47 |
| 7 | RIG 7.5 1/15/2026 144A | 7.50% | 01/15/26 | -14.03% | 21.73 | 25.28 |
| 8 | AAL 3.75 3/1/2025 144A | 3.75% | 03/01/25 | -11.99% | 46.92 | 53.31 |
| 9 | LPI 10.125 1/15/2028 | 10.13% | 01/15/28 | -11.76% | 56.62 | 64.17 |
| 10 | YPFDAR 7 12/15/2047 REGS | 7.00% | 12/15/47 | -10.56% | 56.66 | 63.35 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 9/18/20 – 9/25/20 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 9/18/20 – 9/25/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 9/18/20 vs. the week ending 9/25/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ENR 4.375 3/31/2029 144A | 4.38% | 03/31/29 | 28 | 179 | 151 | 539% |
| 2 | CAPG 6.2 3/24/2026 | 6.20% | 03/24/26 | 6 | 156 | 150 | 2500% |
| 3 | MAXDIY 5.875 10/1/2026 REGS | 5.88% | 10/01/26 | 33 | 156 | 123 | 373% |
| 4 | CEMEX 5.2 9/17/2030 REGS | 5.20% | 09/17/30 | 90 | 208 | 118 | 131% |
| 5 | TPHL 6.2 3/22/2026 | 6.20% | 03/22/26 | 68 | 180 | 112 | 165% |
| 6 | SFRFP 4.125 1/15/2029 REGS | 4.13% | 01/15/29 | 72 | 170 | 98 | 136% |
| 7 | ZFFNGR 3 9/21/2025 | 3.00% | 09/21/25 | 84 | 171 | 87 | 104% |
| 8 | SNFF 2 2/1/2026 REGS | 2.00% | 02/01/26 | 57 | 139 | 82 | 144% |
| 9 | SNFF 2.625 2/1/2029 REGS | 2.63% | 02/01/29 | 63 | 140 | 77 | 122% |
| 10 | AES 4.375 5/31/2030 REGS | 4.38% | 05/31/30 | 14 | 86 | 72 | 514% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 9/18/20 – 9/25/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | THC 8.125 4/1/2022 | 8.13% | 04/01/22 | 33 |
| 2 | BERY 6 10/15/2022 | 6.00% | 10/15/22 | 32 |
| 3 | UBER 7.5 11/1/2023 144A | 7.50% | 11/01/23 | 32 |
| 4 | RIG 6.8 3/15/2038 | 6.80% | 03/15/38 | 32 |
| 5 | CNC 4.75 5/15/2022 | 4.75% | 05/15/22 | 31 |
| 6 | FMCN 7.25 5/15/2022 | 7.25% | 05/15/22 | 31 |
| 7 | AAL 5 6/1/2022 144A | 5.00% | 06/01/22 | 31 |
| 8 | AAL 11.75 7/15/2025 144A | 11.75% | 07/15/25 | 31 |
| 9 | BACR 7.75 PERP | 7.75% | 08/14/99 | 31 |
| 10 | CNSL 6.5 10/1/2022 | 6.50% | 10/01/22 | 31 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 9/18/20 – 9/25/20 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 9/18/20 – 9/25/20
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