Investment Grade Corporate Bond Market Summary – Week Ending 1/21/22
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Investment Grade Corporate Bond Market Summary: Week Ending 1/21/22
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 1/14/22 – 1/21/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | COGARD 2.7 7/12/2026 | 2.70% | 07/12/26 | 17.68% | 83.36 | 70.84 |
| 2 | SINOCE 4.75 1/14/2030 | 4.75% | 01/14/30 | 6.88% | 80.87 | 75.67 |
| 3 | ATVI 2.5 9/15/2050 | 2.50% | 09/15/50 | 5.42% | 87.89 | 83.37 |
| 4 | LLOYDS 2 7/21/2028 | 2.00% | 07/21/28 | 4.92% | 104.52 | 99.62 |
| 5 | NRW 0.95 1/10/2121 | 0.95% | 01/10/21 | 4.24% | 78.90 | 75.68 |
| 6 | LNGFOR 3.85 1/13/2032 | 3.85% | 01/13/32 | 3.51% | 94.74 | 91.53 |
| 7 | TMO 2 10/18/2051 | 2.00% | 10/18/51 | 3.24% | 103.30 | 100.05 |
| 8 | LWFLLC 5.559 7/15/2030 | 5.56% | 07/15/30 | 3.21% | 107.43 | 104.10 |
| 9 | MDT 1.625 10/15/2050 | 1.63% | 10/15/50 | 3.20% | 99.21 | 96.13 |
| 10 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | 2.32% | 89.77 | 87.73 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/14/22 – 1/21/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BRKHEC 5.9 8/15/2034 | 5.90% | 08/15/34 | -6.34% | 118.74 | 126.79 |
| 2 | EDF 5.25 10/13/2055 | 5.25% | 10/13/55 | -4.72% | 119.81 | 125.74 |
| 3 | GENMMK 3.882 4/19/2031 REGS | 3.88% | 04/19/31 | -3.81% | 91.74 | 95.37 |
| 4 | BASINE 4.75 4/26/2047 | 4.75% | 04/26/47 | -3.77% | 115.81 | 120.34 |
| 5 | GUARDN 3.7 1/22/2070 REGS | 3.70% | 01/22/70 | -3.76% | 100.15 | 104.07 |
| 6 | RURAIL 0.84 3/12/2026 | 0.84% | 03/12/26 | -3.75% | 95.22 | 98.92 |
| 7 | TSINGH 4.75 1/31/2021 | 4.75% | 01/31/21 | -3.67% | 66.12 | 68.64 |
| 8 | RUSSIA 1.85 11/20/2032 | 1.85% | 11/20/32 | -3.65% | 92.24 | 95.74 |
| 9 | AMFAHI 3.833 3/11/2051 REGS | 3.83% | 03/11/51 | -3.43% | 103.36 | 107.03 |
| 10 | NYPRES 4.063 8/1/2056 | 4.06% | 08/01/56 | -3.37% | 120.00 | 124.18 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/14/22 – 1/21/22
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | -22 bps | 2.81% | 3.03% |
| 2 | Hotel, Gaming & Leisure | -15 bps | 2.42% | 2.57% |
| 3 | Consumer Goods: Durable | -10 bps | 1.10% | 1.20% |
| 4 | Media: Diversified & Production | -4 bps | 2.03% | 2.07% |
| 5 | Real Estate | -2 bps | 2.23% | 2.24% |
| 6 | Transportation: Cargo | -2 bps | 1.97% | 1.99% |
| 7 | Media: Advertising, Printing & Publishing | 1 bps | 1.17% | 1.16% |
| 8 | Capital Equipment | 1 bps | 1.53% | 1.52% |
| 9 | Construction & Building | 2 bps | 1.55% | 1.54% |
| 10 | Insurance | 3 bps | 1.96% | 1.93% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/14/22 – 1/21/22
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 47 bps | 1.84% | 1.37% |
| 2 | Containers, Packaging, & Glass | 23 bps | 1.82% | 1.59% |
| 3 | Aerospace & Defense | 18 bps | 2.21% | 2.03% |
| 4 | Forest Products & Paper | 16 bps | 1.51% | 1.36% |
| 5 | Finance | 15 bps | 1.90% | 1.75% |
| 6 | Utilities: Water | 14 bps | 1.44% | 1.30% |
| 7 | Banking | 13 bps | 1.62% | 1.50% |
| 8 | Chemicals, Plastics & Rubber | 12 bps | 1.75% | 1.63% |
| 9 | Services: Business | 12 bps | 1.43% | 1.32% |
| 10 | Transportation: Consumer | 11 bps | 2.40% | 2.29% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/14/22 – 1/21/22 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 1/14/22 – 1/21/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/14/22 vs. the week ending 1/21/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BPCEGP 3.648 1/14/2037 REGS | 3.65% | 01/14/37 | 107 | 221 | 114 | 107% |
| 2 | BPCEGP 1.625 1/14/2025 REGS | 1.63% | 01/14/25 | 90 | 170 | 80 | 89% |
| 3 | ATVI 2.5 9/15/2050 | 2.50% | 09/15/50 | 239 | 308 | 69 | 29% |
| 4 | EIBKOR 2.125 1/18/2032 | 2.13% | 01/18/32 | 97 | 158 | 61 | 63% |
| 5 | DLR 1.375 7/18/2032 | 1.38% | 07/18/32 | 68 | 124 | 56 | 82% |
| 6 | DTRGR 2.5 12/14/2031 144A | 2.50% | 12/14/31 | 145 | 198 | 53 | 37% |
| 7 | HKAA 3.5 1/12/2062 REGS | 3.50% | 01/12/62 | 116 | 168 | 52 | 45% |
| 8 | ATH 0.832 1/8/2027 | 0.83% | 01/08/27 | 60 | 110 | 50 | 83% |
| 9 | TGT 3.375 4/15/2029 | 3.38% | 04/15/29 | 217 | 265 | 48 | 22% |
| 10 | BPCEGP 1 1/14/2032 | 1.00% | 01/14/32 | 160 | 205 | 45 | 28% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/14/22 – 1/21/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 43 |
| 2 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 40 |
| 3 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 39 |
| 4 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 39 |
| 5 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 39 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 39 |
| 7 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 38 |
| 8 | DIS 3.6 1/13/2051 | 3.60% | 01/13/51 | 37 |
| 9 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 37 |
| 10 | ORCL 3.6 4/1/2050 | 3.60% | 04/01/50 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/14/22 – 1/21/22 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 1/14/22 – 1/21/22
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