Investment Grade Corporate Bond Market Summary – Week Ending 1/14/22
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Investment Grade Corporate Bond Market Summary: Week Ending 1/14/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 1/7/22 – 1/14/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | QNBK 3.91 4/29/2030 | 3.91% | 04/29/30 | 5.23% | 111.41 | 105.87 |
| 2 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | 4.95% | 77.89 | 74.21 |
| 3 | GZRFPR 5.75 1/13/2022 | 5.75% | 01/13/22 | 4.71% | 65.16 | 62.23 |
| 4 | GULFNG 5.95 10/15/2045 | 5.95% | 10/15/45 | 3.74% | 130.15 | 125.46 |
| 5 | SO 4.75 10/15/2041 | 4.75% | 10/15/41 | 3.55% | 115.38 | 111.42 |
| 6 | IBRD 0 1/13/2026 | 2.58% | 01/13/26 | 2.87% | 99.27 | 96.50 |
| 7 | LIFEVT 5.25 7/19/2068 144A | 5.25% | 07/19/68 | 2.86% | 116.21 | 112.98 |
| 8 | DEHEHO 2.125 3/10/2029 | 2.13% | 03/10/29 | 2.65% | 86.95 | 84.71 |
| 9 | FRCN 0.375 1/15/2027 144A | 0.38% | 01/15/27 | 2.51% | 96.90 | 94.53 |
| 10 | SANUK 3.571 1/10/2023 | 3.57% | 01/10/23 | 2.45% | 102.42 | 99.97 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/7/22 – 1/14/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SINOCE 4.75 1/14/2030 | 4.75% | 01/14/30 | -14.92% | 75.67 | 88.94 |
| 2 | COGARD 6.15 9/17/2025 | 6.15% | 09/17/25 | -13.09% | 78.73 | 90.59 |
| 3 | AMPAU 0 12/1/2027 | 1.87% | 12/01/27 | -7.51% | 90.80 | 98.17 |
| 4 | LNGFOR 3.85 1/13/2032 | 3.85% | 01/13/32 | -6.81% | 91.53 | 98.22 |
| 5 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | -6.14% | 85.01 | 90.57 |
| 6 | CZGB 4.85 11/26/2057 | 4.85% | 11/26/57 | -5.36% | 125.65 | 132.76 |
| 7 | PRXNA 3.832 2/8/2051 REGS | 3.83% | 02/08/51 | -5.13% | 85.01 | 89.61 |
| 8 | CARGIL 7.25 11/1/2036 | 7.25% | 11/01/36 | -4.83% | 137.90 | 144.90 |
| 9 | RUSSIA 5.25 6/23/2047 REGS | 5.25% | 06/23/47 | -4.65% | 115.79 | 121.44 |
| 10 | SHUION 5.5 6/29/2026 | 5.50% | 06/29/26 | -4.46% | 89.29 | 93.46 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/7/22 – 1/14/22
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | -62 bps | 1.58% | 2.20% |
| 2 | Metals & Mining | -13 bps | 2.03% | 2.16% |
| 3 | Services: Business | -8 bps | 1.32% | 1.40% |
| 4 | Utilities: Water | -6 bps | 1.27% | 1.33% |
| 5 | Finance | -4 bps | 1.75% | 1.79% |
| 6 | Construction & Building | -3 bps | 1.54% | 1.57% |
| 7 | Beverage, Food & Tobacco | -2 bps | 1.56% | 1.58% |
| 8 | Environmental Industries | -1 bps | 1.98% | 1.99% |
| 9 | Healthcare & Pharmaceuticals | 0 bps | 1.52% | 1.52% |
| 10 | Chemicals, Plastics & Rubber | 1 bps | 1.62% | 1.61% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/7/22 – 1/14/22
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Broadcasting & Subscription | 50 bps | 2.02% | 1.52% |
| 2 | Sovereign & Public Finance | 47 bps | 1.77% | 1.29% |
| 3 | Forest Products & Paper | 40 bps | 1.60% | 1.20% |
| 4 | Media: Diversified & Production | 26 bps | 2.06% | 1.81% |
| 5 | Utilities: Oil & Gas | 24 bps | 2.22% | 1.99% |
| 6 | Aerospace & Defense | 20 bps | 2.10% | 1.90% |
| 7 | Banking | 16 bps | 1.61% | 1.45% |
| 8 | Services: Consumer | 11 bps | 3.03% | 2.92% |
| 9 | Utilities: Water | 10 bps | 1.43% | 1.33% |
| 10 | Capital Equipment | 9 bps | 1.54% | 1.44% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/7/22 – 1/14/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 1/7/22 – 1/14/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/7/22 vs. the week ending 1/14/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | RPRX 1.75 9/2/2027 | 1.75% | 09/02/27 | 69 | 161 | 92 | 133% |
| 2 | ACAFP 4.75 12/16/2035 | 4.75% | 12/16/35 | 93 | 155 | 62 | 67% |
| 3 | BMO 1.5 12/19/2025 | 1.50% | 12/19/25 | 33 | 95 | 62 | 188% |
| 4 | RILIN 3.667 11/30/2027 REGS | 3.67% | 11/30/27 | 205 | 263 | 58 | 28% |
| 5 | RILIN 4.125 1/28/2025 | 4.13% | 01/28/25 | 185 | 241 | 56 | 30% |
| 6 | WMT 3.25 7/8/2029 | 3.25% | 07/08/29 | 200 | 253 | 53 | 27% |
| 7 | BMY 2.55 11/13/2050 | 2.55% | 11/13/50 | 242 | 293 | 51 | 21% |
| 8 | AL 3.25 10/1/2029 | 3.25% | 10/01/29 | 148 | 197 | 49 | 33% |
| 9 | BMY 1.45 11/13/2030 | 1.45% | 11/13/30 | 249 | 296 | 47 | 19% |
| 10 | WOORIB 0.75 2/1/2026 REGS | 0.75% | 02/01/26 | 107 | 154 | 47 | 44% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/7/22 – 1/14/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 44 |
| 2 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 41 |
| 3 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 40 |
| 4 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 40 |
| 5 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 40 |
| 6 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 40 |
| 7 | ORCL 3.65 3/25/2041 | 3.65% | 03/25/41 | 39 |
| 8 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 39 |
| 9 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 38 |
| 10 | ORCL 4.1 3/25/2061 | 4.10% | 03/25/61 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/7/22 – 1/14/22 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 1/7/22 – 1/14/22
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