Investment Grade Corporate Bond Market Summary – Week Ending 1/29/21
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Investment Grade Corporate Bond Market Summary: Week Ending 1/29/21
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 1/22/21 – 1/29/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ARNDTN 4.75 3/27/2032 | 4.75% | 03/27/32 | 8.68% | 105.12 | 96.72 |
| 2 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | 8.55% | 69.94 | 64.43 |
| 3 | DUKUNI 3.199 10/1/2038 | 3.20% | 10/01/38 | 6.46% | 113.20 | 106.34 |
| 4 | NYUHOS 4.428 7/1/2042 | 4.43% | 07/01/42 | 6.34% | 120.67 | 113.47 |
| 5 | AAL 4 7/15/2025 | 4.00% | 07/15/25 | 5.63% | 90.49 | 85.67 |
| 6 | TOLHOS 6.015 11/15/2048 | 6.02% | 11/15/48 | 5.45% | 129.74 | 123.04 |
| 7 | CCAPGR 3.5 4/15/2023 | 3.50% | 04/15/23 | 5.22% | 88.86 | 84.46 |
| 8 | VLO 7.45 10/15/2097 | 7.45% | 10/15/97 | 4.66% | 147.85 | 141.27 |
| 9 | T 6.375 6/1/2028 | 6.38% | 06/01/28 | 4.42% | 127.23 | 121.85 |
| 10 | NGGLN 1.823 5/26/2056 | 1.82% | 05/26/56 | 3.95% | 212.84 | 204.75 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/22/21 – 1/29/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | XOM 6.1 4/1/2036 | 6.10% | 04/01/36 | -7.81% | 133.33 | 144.63 |
| 2 | PCG 5.5 8/16/2023 | 5.50% | 08/16/23 | -6.75% | 112.09 | 120.20 |
| 3 | MO 9.95 11/10/2038 | 9.95% | 11/10/38 | -5.64% | 165.90 | 175.82 |
| 4 | RPLLLC 6 4/1/2022 | 6.00% | 04/01/22 | -4.20% | 93.57 | 97.67 |
| 5 | ETP 6.125 12/15/2045 | 6.13% | 12/15/45 | -3.78% | 113.05 | 117.48 |
| 6 | EDF 2 12/9/2049 | 2.00% | 12/09/49 | -3.75% | 113.05 | 117.46 |
| 7 | AEGON 4.26 PERP | 4.26% | 03/04/68 | -3.68% | 89.07 | 92.48 |
| 8 | IAGLN 1.5 7/4/2027 | 1.50% | 07/04/27 | -3.36% | 84.23 | 87.16 |
| 9 | KMI 6.5 2/1/2037 | 6.50% | 02/01/37 | -3.30% | 127.20 | 131.55 |
| 10 | HTHROW 2.75 8/9/2049 | 2.75% | 08/09/49 | -3.25% | 101.10 | 104.50 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/22/21 – 1/29/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Metals & Mining | -83 bps | 5.25% | 6.08% |
| 2 | Media: Advertising, Printing & Publishing | -23 bps | 0.35% | 0.58% |
| 3 | Healthcare & Pharmaceuticals | -11 bps | 0.40% | 0.51% |
| 4 | Chemicals, Plastics & Rubber | -9 bps | 1.10% | 1.19% |
| 5 | High Tech Industries | -8 bps | 0.42% | 0.50% |
| 6 | Wholesale | -8 bps | 1.64% | 1.72% |
| 7 | Retail | -8 bps | 1.09% | 1.17% |
| 8 | Forest Products & Paper | -1 bps | 0.82% | 0.83% |
| 9 | Telecommunications | 1 bps | 1.05% | 1.05% |
| 10 | Construction & Building | 1 bps | 0.71% | 0.70% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/22/21 – 1/29/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Capital Equipment | 96 bps | 1.20% | 0.24% |
| 2 | Services: Business | 38 bps | 0.94% | 0.56% |
| 3 | Media: Diversified & Production | 33 bps | 1.17% | 0.85% |
| 4 | Sovereign & Public Finance | 29 bps | 0.81% | 0.52% |
| 5 | Services: Consumer | 28 bps | 12.04% | 11.76% |
| 6 | Environmental Industries | 24 bps | 0.82% | 0.58% |
| 7 | Containers, Packaging, & Glass | 17 bps | 0.75% | 0.58% |
| 8 | Finance | 17 bps | 1.28% | 1.11% |
| 9 | Hotel, Gaming & Leisure | 16 bps | 2.57% | 2.41% |
| 10 | Aerospace & Defense | 15 bps | 1.59% | 1.45% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/22/21 – 1/29/21 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 1/22/21 – 1/29/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/22/21 vs. the week ending 1/29/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BPCEGP 0.25 1/14/2031 | 0.25% | 01/14/31 | 78 | 180 | 102 | 131% |
| 2 | TRNIM 0.375 9/25/2030 | 0.38% | 09/25/30 | 47 | 140 | 93 | 198% |
| 3 | HERIM 0.25 12/3/2030 | 0.25% | 12/03/30 | 43 | 125 | 82 | 191% |
| 4 | SOCGEN 1.25 12/7/2027 | 1.25% | 12/07/27 | 42 | 120 | 78 | 186% |
| 5 | GE 0 11/28/2045 | 0.00% | 11/28/45 | 20 | 90 | 70 | 350% |
| 6 | IREIM 0.25 1/17/2031 | 0.25% | 01/17/31 | 35 | 103 | 68 | 194% |
| 7 | BNP 1.25 7/13/2031 | 1.25% | 07/13/31 | 42 | 110 | 68 | 162% |
| 8 | ACGCAP 1.95 1/30/2026 144A | 1.95% | 01/30/26 | 104 | 169 | 65 | 63% |
| 9 | TOTAL 1.625 PERP | 1.63% | 01/18/99 | 80 | 138 | 58 | 73% |
| 10 | TOTAL 2.125 PERP | 2.13% | 01/18/99 | 78 | 134 | 56 | 72% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/22/21 – 1/29/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 34 |
| 2 | BPLN 3.633 4/6/2030 | 3.63% | 04/06/30 | 33 |
| 3 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 33 |
| 4 | AVGO 2.45 2/15/2031 144A | 2.45% | 02/15/31 | 33 |
| 5 | XOM 3.482 3/19/2030 | 3.48% | 03/19/30 | 33 |
| 6 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 33 |
| 7 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 33 |
| 8 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 32 |
| 9 | JPM 1.764 11/19/2031 | 1.76% | 11/19/31 | 32 |
| 10 | GM 1.25 1/8/2026 | 1.25% | 01/08/26 | 32 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/22/21 – 1/29/21 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 1/22/21 – 1/29/21
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