Investment Grade Corporate Bond Market Summary – Week Ending 1/15/21
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Investment Grade Corporate Bond Market Summary: Week Ending 1/15/21
Our newsletter presents key trends derived from observable Investment Grade 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 1/8/21 – 1/15/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MOLISE 0 12/15/2033 | 0.00% | 12/15/33 | 17.13% | 75.04 | 64.07 |
| 2 | ESICN 9.25 4/15/2024 144A | 9.25% | 04/15/24 | 14.62% | 70.45 | 61.46 |
| 3 | FTSCN 5 3/15/2044 | 5.00% | 03/15/44 | 10.31% | 126.77 | 114.92 |
| 4 | BAMACN 7.375 3/1/2033 | 7.38% | 03/01/33 | 8.93% | 146.46 | 134.45 |
| 5 | WRK 7.55 3/1/2047 | 7.55% | 03/01/47 | 7.71% | 150.27 | 139.52 |
| 6 | AMUNIV 3.672 4/1/2049 | 3.67% | 04/01/49 | 7.08% | 117.53 | 109.75 |
| 7 | TENCNT 3.29 6/3/2060 REGS | 3.29% | 06/03/60 | 5.72% | 96.94 | 91.70 |
| 8 | IP 8.7 6/15/2038 | 8.70% | 06/15/38 | 5.14% | 173.01 | 164.55 |
| 9 | ETP 6.625 10/15/2036 | 6.63% | 10/15/36 | 4.60% | 125.09 | 119.59 |
| 10 | ACGCAP 3.5 11/1/2027 144A | 3.50% | 11/01/27 | 4.36% | 105.70 | 101.28 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/8/21 – 1/15/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GRNLGR 6.125 4/22/2023 | 6.13% | 04/22/23 | -8.01% | 87.13 | 94.72 |
| 2 | RISSUN 8 4/24/2022 | 8.00% | 04/24/22 | -6.02% | 92.32 | 98.23 |
| 3 | PEMEX 6.95 1/28/2060 | 6.95% | 01/28/60 | -4.78% | 87.27 | 91.65 |
| 4 | ROCKFD 2.492 10/1/2050 | 2.49% | 10/01/50 | -4.60% | 99.75 | 104.56 |
| 5 | SYNNVX 4.892 4/24/2025 REGS | 4.89% | 04/24/25 | -4.45% | 101.05 | 105.76 |
| 6 | AIG 8.125 3/15/2046 | 8.13% | 03/15/46 | -4.43% | 144.08 | 150.76 |
| 7 | GZRFPR 8.625 3/5/2024 | 8.63% | 03/05/24 | -4.41% | 87.16 | 91.19 |
| 8 | XIAOMI 3.375 4/29/2030 REGS | 3.38% | 04/29/30 | -4.13% | 99.79 | 104.09 |
| 9 | BOSUNI 7.625 7/15/2097 | 7.63% | 07/15/97 | -3.75% | 130.96 | 136.07 |
| 10 | AIZ 6.75 2/15/2034 | 6.75% | 02/15/34 | -3.29% | 126.55 | 130.85 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/8/21 – 1/15/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Hotel, Gaming & Leisure | -143 bps | 2.41% | 3.83% |
| 2 | Metals & Mining | -62 bps | 4.70% | 5.32% |
| 3 | Media: Advertising, Printing & Publishing | -25 bps | 0.31% | 0.56% |
| 4 | Transportation: Consumer | -15 bps | 1.98% | 2.13% |
| 5 | Transportation: Cargo | -14 bps | 0.71% | 0.86% |
| 6 | High Tech Industries | -11 bps | 0.46% | 0.57% |
| 7 | Construction & Building | -10 bps | 0.73% | 0.83% |
| 8 | Telecommunications | -10 bps | 1.01% | 1.11% |
| 9 | Services: Consumer | -9 bps | 11.41% | 11.50% |
| 10 | Wholesale | -8 bps | 1.81% | 1.89% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/8/21 – 1/15/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | 27 bps | 1.50% | 1.23% |
| 2 | Environmental Industries | 18 bps | 0.79% | 0.61% |
| 3 | Containers, Packaging, & Glass | 14 bps | 0.62% | 0.48% |
| 4 | Sovereign & Public Finance | 9 bps | 0.47% | 0.38% |
| 5 | Energy: Electricity | 5 bps | -1.44% | -1.49% |
| 6 | Forest Products & Paper | 4 bps | 0.89% | 0.86% |
| 7 | Capital Equipment | 3 bps | 0.36% | 0.33% |
| 8 | Chemicals, Plastics & Rubber | 3 bps | 1.37% | 1.34% |
| 9 | Utilities: Oil & Gas | 3 bps | 1.11% | 1.09% |
| 10 | Consumer Goods: Non-Durable | 2 bps | 0.77% | 0.75% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/8/21 – 1/15/21 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 1/8/21 – 1/15/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/8/21 vs. the week ending 1/15/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CCL 7.625 3/1/2026 144A | 7.63% | 03/01/26 | 79 | 253 | 174 | 220% |
| 2 | QCOM 1.65 5/20/2032 | 1.65% | 05/20/32 | 14 | 124 | 110 | 786% |
| 3 | QCOM 1.3 5/20/2028 | 1.30% | 05/20/28 | 10 | 112 | 102 | 1020% |
| 4 | CVX 3.25 10/15/2029 | 3.25% | 10/15/29 | 9 | 95 | 86 | 956% |
| 5 | CARR 2.722 2/15/2030 | 2.72% | 02/15/30 | 158 | 219 | 61 | 39% |
| 6 | SOCGEN 0.5 9/5/2029 | 0.50% | 09/05/29 | 52 | 110 | 58 | 112% |
| 7 | CARR 2.7 2/15/2031 | 2.70% | 02/15/31 | 177 | 234 | 57 | 32% |
| 8 | SOCGEN 1.488 12/14/2026 144A | 1.49% | 12/14/26 | 60 | 115 | 55 | 92% |
| 9 | HII 4.2 5/1/2030 | 4.20% | 05/01/30 | 15 | 70 | 55 | 367% |
| 10 | VW 0 4/14/2023 | 3.56% | 04/14/23 | 23 | 75 | 52 | 226% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/8/21 – 1/15/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TORONTO DOMINION BK SR MEDIUM | 0.75% | 01/06/26 | 33 |
| 2 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 32 |
| 3 | TOYOTA 1.65 1/10/2031 | 1.65% | 01/10/31 | 31 |
| 4 | GM 2.35 1/8/2031 | 2.35% | 01/08/31 | 31 |
| 5 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 31 |
| 6 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 30 |
| 7 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 30 |
| 8 | BA 4.875 5/1/2025 | 4.88% | 05/01/25 | 30 |
| 9 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 30 |
| 10 | XOM 3.482 3/19/2030 | 3.48% | 03/19/30 | 30 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/8/21 – 1/15/21 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 1/8/21 – 1/15/21
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