Investment Grade Corporate Bond Market Summary – Week Ending 1/28/22
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Investment Grade Corporate Bond Market Summary: Week Ending 1/28/22
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 1/21/22 – 1/28/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | USB 0 PERP | 1.39% | 12/29/49 | 6.76% | 91.66 | 85.85 |
| 2 | C 0 7/25/2024 | 0.00% | 07/25/24 | 4.66% | 114.84 | 109.73 |
| 3 | CONGLO 6 8/30/2034 | 6.00% | 08/30/34 | 3.71% | 110.06 | 106.13 |
| 4 | TRISTA 7.144 7/31/2033 | 7.14% | 07/31/33 | 3.71% | 123.64 | 119.23 |
| 5 | NRW 1.375 1/15/2020 | 1.38% | 01/15/20 | 3.48% | 103.71 | 100.22 |
| 6 | COLLIN 0 9/23/2022 | 4.28% | 09/23/22 | 3.24% | 92.99 | 90.08 |
| 7 | VZ 7.375 4/1/2032 | 7.38% | 04/01/32 | 3.22% | 138.15 | 133.84 |
| 8 | BTPCL 5 3/1/2035 | 5.00% | 03/01/35 | 3.03% | 94.27 | 91.49 |
| 9 | AGR 8 12/15/2033 | 8.00% | 12/15/33 | 2.54% | 146.87 | 143.23 |
| 10 | SINOCE 4.75 1/14/2030 | 4.75% | 01/14/30 | 2.19% | 82.64 | 80.87 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/21/22 – 1/28/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | KSS 6.875 12/15/2037 | 6.88% | 12/15/37 | -10.50% | 109.22 | 122.04 |
| 2 | ORPFP 2 4/1/2028 | 2.00% | 04/01/28 | -9.08% | 90.54 | 99.59 |
| 3 | POLGB 0 5/25/2024 | 3.03% | 05/25/24 | -7.88% | 91.98 | 99.84 |
| 4 | ANNFND 3.935 7/12/2047 | 3.94% | 07/12/47 | -6.66% | 108.75 | 116.51 |
| 5 | FSHPHO 1.875 7/14/2061 | 1.88% | 07/14/61 | -5.74% | 87.84 | 93.19 |
| 6 | COGARD 2.7 7/12/2026 | 2.70% | 07/12/26 | -5.69% | 78.62 | 83.36 |
| 7 | GAZPRU 1.54 6/30/2027 | 1.54% | 06/30/27 | -5.61% | 90.00 | 95.35 |
| 8 | ADJGR 2.25 1/14/2029 | 2.25% | 01/14/29 | -5.42% | 78.68 | 83.19 |
| 9 | OLAMSP 4 2/24/2026 | 4.00% | 02/24/26 | -4.83% | 93.85 | 98.61 |
| 10 | EDF 5.125 9/22/2050 | 5.13% | 09/22/50 | -4.67% | 135.58 | 142.22 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/21/22 – 1/28/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -27 bps | 1.10% | 1.38% |
| 2 | Consumer Goods: Non-Durable | -25 bps | 1.27% | 1.52% |
| 3 | Construction & Building | -10 bps | 1.53% | 1.62% |
| 4 | Containers, Packaging, & Glass | -7 bps | 1.80% | 1.88% |
| 5 | Energy: Electricity | -4 bps | 1.48% | 1.52% |
| 6 | Beverage, Food & Tobacco | -1 bps | 1.69% | 1.70% |
| 7 | Hotel, Gaming & Leisure | 1 bps | 2.45% | 2.44% |
| 8 | Consumer Goods: Durable | 3 bps | 1.16% | 1.13% |
| 9 | Transportation: Cargo | 4 bps | 2.09% | 2.05% |
| 10 | Media: Broadcasting & Subscription | 5 bps | 2.15% | 2.10% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/21/22 – 1/28/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 33 bps | 1.83% | 1.50% |
| 2 | Aerospace & Defense | 29 bps | 2.43% | 2.14% |
| 3 | Environmental Industries | 22 bps | 2.26% | 2.05% |
| 4 | Utilities: Water | 20 bps | 1.53% | 1.33% |
| 5 | Automotive | 18 bps | 1.89% | 1.71% |
| 6 | Wholesale | 18 bps | 2.04% | 1.87% |
| 7 | Healthcare & Pharmaceuticals | 15 bps | 1.69% | 1.54% |
| 8 | Retail | 15 bps | 2.34% | 2.20% |
| 9 | Services: Consumer | 14 bps | 2.97% | 2.83% |
| 10 | Energy: Oil & Gas | 14 bps | 2.43% | 2.29% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/21/22 – 1/28/22 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 1/21/22 – 1/28/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/21/22 vs. the week ending 1/28/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | MQGAU 1.34 1/12/2027 | 1.34% | 01/12/27 | 50 | 223 | 173 | 346% |
| 2 | ZIGGO 4.875 1/15/2030 REGS | 4.88% | 01/15/30 | 4 | 173 | 169 | 4225% |
| 3 | BAC 4.375 PERP | 4.38% | 12/31/99 | 2 | 170 | 168 | 8400% |
| 4 | RILIN 2.875 1/12/2032 REGS | 2.88% | 01/12/32 | 88 | 170 | 82 | 93% |
| 5 | RILIN 3.75 1/12/2062 REGS | 3.75% | 01/12/62 | 92 | 159 | 67 | 73% |
| 6 | KSS 5.55 7/17/2045 | 5.55% | 07/17/45 | 189 | 235 | 46 | 24% |
| 7 | DTRGR 2.375 12/14/2028 144A | 2.38% | 12/14/28 | 177 | 223 | 46 | 26% |
| 8 | ABIBB 3.5 6/1/2030 | 3.50% | 06/01/30 | 266 | 310 | 44 | 17% |
| 9 | DTRGR 2.5 12/14/2031 144A | 2.50% | 12/14/31 | 198 | 240 | 42 | 21% |
| 10 | KSS 3.375 5/1/2031 | 3.38% | 05/01/31 | 196 | 238 | 42 | 21% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/21/22 – 1/28/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 43 |
| 2 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 40 |
| 3 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 39 |
| 4 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 39 |
| 5 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 39 |
| 6 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 38 |
| 7 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 38 |
| 8 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 38 |
| 9 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 38 |
| 10 | DIS 3.6 1/13/2051 | 3.60% | 01/13/51 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/21/22 – 1/28/22 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 1/21/22 – 1/28/22
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