Investment Grade Corporate Bond Market Summary – Week Ending 10/16/20
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Investment Grade Corporate Bond Market Summary: Week Ending 10/16/20
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 10/9/20 – 10/16/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GRRIVE 4.478 7/1/2030 | 4.48% | 07/01/30 | 9.83% | 131.80 | 120.00 |
| 2 | DANAUH 4 10/31/2020 REGS | 4.00% | 10/31/20 | 8.86% | 98.26 | 90.26 |
| 3 | WEC 6.09 2/11/2040 | 6.09% | 02/11/40 | 8.20% | 140.93 | 130.25 |
| 4 | SO 5.65 3/1/2037 | 5.65% | 03/01/37 | 8.13% | 133.60 | 123.55 |
| 5 | ERAFP 5.875 5/21/2025 | 5.88% | 05/21/25 | 6.07% | 79.99 | 75.41 |
| 6 | ATLIM 1.875 9/26/2029 | 1.88% | 09/26/29 | 5.30% | 97.05 | 92.16 |
| 7 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | 5.24% | 157.89 | 150.02 |
| 8 | M 6.65 7/15/2024 | 6.65% | 07/15/24 | 5.10% | 80.59 | 76.68 |
| 9 | NRW 1.375 1/15/2020 | 1.38% | 01/15/20 | 4.90% | 131.12 | 125.00 |
| 10 | BRKHEC 1.875 6/16/2062 | 1.88% | 06/16/62 | 4.69% | 106.80 | 102.01 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 10/9/20 – 10/16/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CCL 1 10/28/2029 | 1.00% | 10/28/29 | -8.23% | 56.93 | 62.04 |
| 2 | AFFP 3.75 10/12/2022 | 3.75% | 10/12/22 | -7.13% | 83.94 | 90.39 |
| 3 | EPR 4.95 4/15/2028 | 4.95% | 04/15/28 | -4.54% | 90.38 | 94.68 |
| 4 | KPN 5.75 9/17/2029 GMTN | 5.75% | 09/17/29 | -4.31% | 121.74 | 127.22 |
| 5 | ACFP 2.625 PERP | 2.63% | 10/30/99 | -3.12% | 83.66 | 86.36 |
| 6 | PEMEX 5.625 1/23/2046 | 5.63% | 01/23/46 | -2.60% | 73.96 | 75.94 |
| 7 | COTHEA 3.304 11/1/2049 | 3.30% | 11/01/49 | -2.00% | 105.01 | 107.15 |
| 8 | CABKSM 5.25 PERP | 5.25% | 03/23/99 | -1.98% | 90.40 | 92.23 |
| 9 | DUK 3.112 9/1/2036 | 3.11% | 09/01/36 | -1.79% | 108.47 | 110.45 |
| 10 | OXY 3.2 8/15/2026 | 3.20% | 08/15/26 | -1.62% | 81.18 | 82.52 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 10/9/20 – 10/16/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Oil & Gas | -86 bps | 2.73% | 3.59% |
| 2 | Consumer Goods: Durable | -36 bps | 1.48% | 1.83% |
| 3 | Containers, Packaging, & Glass | -24 bps | 1.20% | 1.44% |
| 4 | Energy: Electricity | -18 bps | 0.04% | 0.22% |
| 5 | Media: Advertising, Printing & Publishing | -13 bps | 0.42% | 0.55% |
| 6 | Construction & Building | -8 bps | 1.14% | 1.22% |
| 7 | Utilities: Water | -8 bps | 0.95% | 1.03% |
| 8 | Media: Broadcasting & Subscription | -7 bps | 1.09% | 1.16% |
| 9 | Utilities: Electric | -5 bps | 1.25% | 1.30% |
| 10 | Healthcare & Pharmaceuticals | -4 bps | 0.81% | 0.85% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 10/9/20 – 10/16/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Metals & Mining | 134 bps | 6.64% | 5.31% |
| 2 | Services: Consumer | 88 bps | 10.59% | 9.71% |
| 3 | Environmental Industries | 80 bps | 1.31% | 0.51% |
| 4 | Sovereign & Public Finance | 80 bps | 1.34% | 0.54% |
| 5 | Aerospace & Defense | 55 bps | 2.85% | 2.30% |
| 6 | Transportation: Consumer | 52 bps | 4.51% | 3.99% |
| 7 | Chemicals, Plastics & Rubber | 40 bps | 2.03% | 1.64% |
| 8 | Media: Diversified & Production | 36 bps | 1.43% | 1.07% |
| 9 | Hotel, Gaming & Leisure | 27 bps | 3.59% | 3.32% |
| 10 | Services: Business | 26 bps | 0.97% | 0.70% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/9/20 – 10/16/20 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 10/9/20 – 10/16/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/9/20 vs. the week ending 10/16/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | UKRAIN 7.304 3/15/2033 REGS | 7.30% | 03/15/33 | 40 | 173 | 133 | 333% |
| 2 | FABUH 4.5 PERP | 4.50% | 10/05/99 | 22 | 129 | 107 | 486% |
| 3 | GGBRBZ 4.25 1/21/2030 144A | 4.25% | 01/21/30 | 56 | 142 | 86 | 154% |
| 4 | BANBRA 8.5 12/31/2049 | 8.50% | 12/31/49 | 36 | 120 | 84 | 233% |
| 5 | RPCUH 6 8/31/2036 | 6.00% | 08/31/36 | 36 | 106 | 70 | 194% |
| 6 | F 0 1/10/2022 | 3.53% | 01/10/22 | 10 | 73 | 63 | 630% |
| 7 | BWP 4.5 2/1/2021 | 4.50% | 02/01/21 | 54 | 102 | 48 | 89% |
| 8 | RE 3.5 10/15/2050 | 3.50% | 10/15/50 | 66 | 114 | 48 | 73% |
| 9 | SMCGL 5.7 PERP | 5.70% | 01/21/99 | 103 | 147 | 44 | 43% |
| 10 | ROP 3 12/15/2020 | 3.00% | 12/15/20 | 50 | 91 | 41 | 82% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/9/20 – 10/16/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 35 |
| 2 | PETBRA 5.093 1/15/2030 REGS | 5.09% | 01/15/30 | 35 |
| 3 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 35 |
| 4 | F 8.5 4/21/2023 | 8.50% | 04/21/23 | 35 |
| 5 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 34 |
| 6 | CCL 11.5 4/1/2023 144A | 11.50% | 04/01/23 | 34 |
| 7 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 33 |
| 8 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 33 |
| 9 | RCL 5.25 11/15/2022 | 5.25% | 11/15/22 | 32 |
| 10 | F 9 4/22/2025 | 9.00% | 04/22/25 | 32 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/9/20 – 10/16/20 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 10/9/20 – 10/16/20
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