Investment Grade Corporate Bond Market Summary – Week Ending 1/7/22
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Investment Grade Corporate Bond Market Summary: Week Ending 1/7/22
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 12/31/21 – 1/7/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CLEF 3.377 6/30/2041 | 3.38% | 06/30/41 | 11.36% | 117.91 | 105.88 |
| 2 | TSINGH 6.5 1/31/2028 | 6.50% | 01/31/28 | 6.24% | 68.07 | 64.07 |
| 3 | GS 1 12/21/2025 | 1.00% | 12/21/25 | 5.22% | 103.02 | 97.91 |
| 4 | SDSELE 5.5 7/23/2026 REGS | 5.50% | 07/23/26 | 4.43% | 93.20 | 89.25 |
| 5 | C 0 7/30/2024 | 0.59% | 07/30/24 | 3.74% | 112.01 | 107.98 |
| 6 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | 3.48% | 85.79 | 82.90 |
| 7 | VINPRL 3.25 9/21/2026 | 3.25% | 09/21/26 | 3.27% | 100.15 | 96.98 |
| 8 | LHAGR 3.75 2/11/2028 | 3.75% | 02/11/28 | 2.85% | 103.14 | 100.28 |
| 9 | HSBC 1.5 9/27/2024 | 1.50% | 09/27/24 | 2.82% | 102.98 | 100.16 |
| 10 | ADJGR 3.25 8/5/2025 | 3.25% | 08/05/25 | 2.48% | 88.97 | 86.81 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/31/21 – 1/7/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -7.66% | 74.21 | 80.37 |
| 2 | PERU 2.78 12/1/2060 | 2.78% | 12/01/60 | -7.33% | 81.36 | 87.79 |
| 3 | MARA 1 12/1/2026 | 1.00% | 12/01/26 | -7.29% | 74.89 | 80.78 |
| 4 | HKAA 2.625 2/4/2051 REGS | 2.63% | 02/04/51 | -6.75% | 91.63 | 98.26 |
| 5 | WMT 5.25 9/1/2035 | 5.25% | 09/01/35 | -6.15% | 132.09 | 140.75 |
| 6 | MASSIN 3.885 7/1/2116 | 3.89% | 07/01/16 | -6.00% | 118.07 | 125.61 |
| 7 | MEX 3.75 4/19/2071 | 3.75% | 04/19/71 | -5.83% | 84.33 | 89.55 |
| 8 | BILI 0.5 12/1/2026 | 0.50% | 12/01/26 | -5.74% | 80.69 | 85.61 |
| 9 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | -5.56% | 130.29 | 137.96 |
| 10 | CPPIBC 1.625 10/22/2071 | 1.63% | 10/22/71 | -5.51% | 97.64 | 103.34 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/31/21 – 1/7/22
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | -69 bps | 1.53% | 2.22% |
| 2 | Sovereign & Public Finance | -48 bps | 1.68% | 2.16% |
| 3 | Media: Broadcasting & Subscription | -29 bps | 2.05% | 2.34% |
| 4 | Real Estate | -24 bps | 2.18% | 2.42% |
| 5 | Media: Diversified & Production | -14 bps | 1.79% | 1.93% |
| 6 | Finance | -9 bps | 1.91% | 2.00% |
| 7 | Banking | -3 bps | 1.57% | 1.60% |
| 8 | Energy: Electricity | -1 bps | 1.34% | 1.35% |
| 9 | Aerospace & Defense | 0 bps | 2.00% | 2.00% |
| 10 | Telecommunications | 1 bps | 1.76% | 1.75% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/31/21 – 1/7/22
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Forest Products & Paper | 84 bps | 2.40% | 1.56% |
| 2 | Consumer Goods: Durable | 43 bps | 1.57% | 1.14% |
| 3 | Hotel, Gaming & Leisure | 40 bps | 3.27% | 2.88% |
| 4 | Capital Equipment | 33 bps | 1.47% | 1.14% |
| 5 | Environmental Industries | 22 bps | 1.99% | 1.76% |
| 6 | Services: Consumer | 22 bps | 2.96% | 2.74% |
| 7 | Beverage, Food & Tobacco | 22 bps | 1.50% | 1.28% |
| 8 | Consumer Goods: Non-Durable | 21 bps | 1.47% | 1.25% |
| 9 | Utilities: Oil & Gas | 21 bps | 2.08% | 1.87% |
| 10 | Chemicals, Plastics & Rubber | 19 bps | 1.67% | 1.48% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/31/21 – 1/7/22 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 12/31/21 – 1/7/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/31/21 vs. the week ending 1/7/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | TSINGH 6 12/10/2020 | 6.00% | 12/10/20 | 20 | 126 | 106 | 530% |
| 2 | RILIN 3.667 11/30/2027 REGS | 3.67% | 11/30/27 | 143 | 205 | 62 | 43% |
| 3 | KEBHNB 3.5 PERP REGS | 3.50% | 04/19/99 | 34 | 85 | 51 | 150% |
| 4 | RILIN 4.875 2/10/2045 | 4.88% | 02/10/45 | 122 | 170 | 48 | 39% |
| 5 | RILIN 4.125 1/28/2025 | 4.13% | 01/28/25 | 138 | 185 | 47 | 34% |
| 6 | UNP 3.25 2/5/2050 | 3.25% | 02/05/50 | 206 | 251 | 45 | 22% |
| 7 | RILIN 6.25 10/19/2040 | 6.25% | 10/19/40 | 121 | 165 | 44 | 36% |
| 8 | BA 3.45 11/1/2028 | 3.45% | 11/01/28 | 92 | 136 | 44 | 48% |
| 9 | POWFIN 3.35 5/16/2031 | 3.35% | 05/16/31 | 132 | 176 | 44 | 33% |
| 10 | MITHCC 3.967 4/13/2030 REGS | 3.97% | 04/13/30 | 88 | 130 | 42 | 48% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/31/21 – 1/7/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 43 |
| 2 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 39 |
| 3 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 39 |
| 4 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 38 |
| 5 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 38 |
| 6 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 38 |
| 7 | DTV 5.875 8/15/2027 144A | 5.88% | 08/15/27 | 37 |
| 8 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 37 |
| 9 | ORCL 3.65 3/25/2041 | 3.65% | 03/25/41 | 37 |
| 10 | AMZN 1.5 6/3/2030 | 1.50% | 06/03/30 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/31/21 – 1/7/22 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 12/31/21 – 1/7/22
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