Investment Grade Corporate Bond Market Summary – Week Ending 10/23/20
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Investment Grade Corporate Bond Market Summary: Week Ending 10/23/20
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 10/16/20 – 10/23/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | DNBNO 0 PERP | 0.41% | 08/29/49 | 10.82% | 84.33 | 76.09 |
| 2 | RABOBK 6.5 12/29/2049 | 6.50% | 12/29/49 | 9.79% | 126.53 | 115.25 |
| 3 | NIBCAP 0 PERP | 0.87% | 03/29/49 | 8.89% | 72.51 | 66.59 |
| 4 | ROTH 0 8/29/2049 | 0.00% | 08/29/49 | 8.42% | 82.49 | 76.08 |
| 5 | CMARK 0 PERP | 0.00% | 07/29/49 | 7.62% | 82.82 | 76.96 |
| 6 | AFFP 1.875 1/16/2025 | 1.88% | 01/16/25 | 5.59% | 72.98 | 69.12 |
| 7 | GLJGR 0.875 10/7/2022 | 0.88% | 10/07/22 | 5.42% | 85.09 | 80.72 |
| 8 | MAT 6.2 10/1/2040 | 6.20% | 10/01/40 | 5.18% | 103.30 | 98.21 |
| 9 | HSBC 0 PERP | 0.22% | 07/29/49 | 4.41% | 85.57 | 81.95 |
| 10 | IAGLN 1.5 7/4/2027 | 1.50% | 07/04/27 | 3.51% | 73.88 | 71.37 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 10/16/20 – 10/23/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | USCTRJ 3.226 10/1/2020 | 3.23% | 10/01/20 | -7.33% | 96.91 | 104.57 |
| 2 | PBFENE 9.25 5/15/2025 144A | 9.25% | 05/15/25 | -6.77% | 93.30 | 100.07 |
| 3 | TEMASE 2.5 10/6/2070 REGS | 2.50% | 10/06/70 | -4.59% | 94.91 | 99.48 |
| 4 | UPENN 3.61 2/15/2019 | 3.61% | 02/15/19 | -4.44% | 103.92 | 108.75 |
| 5 | JHUNIV 4.083 7/1/2053 | 4.08% | 07/01/53 | -4.31% | 128.62 | 134.41 |
| 6 | MASSIN 4.678 7/1/2114 | 4.68% | 07/01/14 | -4.31% | 138.23 | 144.45 |
| 7 | PSX 4.875 11/15/2044 | 4.88% | 11/15/44 | -4.27% | 111.71 | 116.70 |
| 8 | MSINAI 3.737 7/1/2049 | 3.74% | 07/01/49 | -4.23% | 100.47 | 104.91 |
| 9 | ADVHEA 4.272 8/15/2048 | 4.27% | 08/15/48 | -4.21% | 121.29 | 126.62 |
| 10 | GOOGL 2.25 8/15/2060 | 2.25% | 08/15/60 | -4.13% | 89.93 | 93.80 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 10/16/20 – 10/23/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Oil & Gas | -51 bps | 2.62% | 3.13% |
| 2 | Utilities: Water | -41 bps | 0.57% | 0.98% |
| 3 | Media: Advertising, Printing & Publishing | -38 bps | 0.46% | 0.84% |
| 4 | Consumer Goods: Durable | -33 bps | 1.39% | 1.72% |
| 5 | Construction & Building | -22 bps | 1.12% | 1.34% |
| 6 | Energy: Electricity | -21 bps | -0.42% | -0.22% |
| 7 | Retail | -4 bps | 1.55% | 1.60% |
| 8 | Media: Diversified & Production | -3 bps | 1.52% | 1.55% |
| 9 | Healthcare & Pharmaceuticals | -2 bps | 0.83% | 0.84% |
| 10 | Services: Business | 0 bps | 0.79% | 0.80% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 10/16/20 – 10/23/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 48 bps | 1.33% | 0.85% |
| 2 | Chemicals, Plastics & Rubber | 37 bps | 2.07% | 1.70% |
| 3 | Aerospace & Defense | 36 bps | 2.81% | 2.46% |
| 4 | Containers, Packaging, & Glass | 36 bps | 1.38% | 1.02% |
| 5 | Transportation: Cargo | 32 bps | 1.26% | 0.94% |
| 6 | Hotel, Gaming & Leisure | 30 bps | 3.70% | 3.39% |
| 7 | Transportation: Consumer | 29 bps | 4.17% | 3.87% |
| 8 | Metals & Mining | 28 bps | 1.88% | 1.60% |
| 9 | Environmental Industries | 26 bps | 1.13% | 0.87% |
| 10 | Banking | 21 bps | 1.59% | 1.38% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/16/20 – 10/23/20 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 10/16/20 – 10/23/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/16/20 vs. the week ending 10/23/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CMZB 6.5 PERP | 6.50% | 12/31/99 | 84 | 205 | 121 | 144% |
| 2 | SHBASS 4.75 PERP | 4.75% | 10/06/99 | 135 | 229 | 94 | 70% |
| 3 | SMCGL 7 1/28/2016 | 7.00% | 01/28/16 | 26 | 100 | 74 | 285% |
| 4 | F 0 1/10/2022 | 3.53% | 01/10/22 | 73 | 136 | 63 | 86% |
| 5 | PPG 5.5 11/15/2040 | 5.50% | 11/15/40 | 12 | 60 | 48 | 400% |
| 6 | BAC 5.2 9/24/2009 | 5.20% | 09/24/09 | 38 | 86 | 48 | 126% |
| 7 | TAISEM 1.375 9/28/2030 REGS | 1.38% | 09/28/30 | 87 | 135 | 48 | 55% |
| 8 | CHINA 4 10/19/2048 | 4.00% | 10/19/48 | 101 | 147 | 46 | 46% |
| 9 | NSC 5.1 8/1/2018 | 5.10% | 08/01/18 | 46 | 88 | 42 | 91% |
| 10 | HII 5 11/15/2025 | 5.00% | 11/15/25 | 25 | 66 | 41 | 164% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/16/20 – 10/23/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | PETBRA 5.093 1/15/2030 REGS | 5.09% | 01/15/30 | 35 |
| 2 | CCL 11.5 4/1/2023 144A | 11.50% | 04/01/23 | 35 |
| 3 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 35 |
| 4 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 34 |
| 5 | F 9 4/22/2025 | 9.00% | 04/22/25 | 33 |
| 6 | F 8.5 4/21/2023 | 8.50% | 04/21/23 | 33 |
| 7 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 33 |
| 8 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 33 |
| 9 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 32 |
| 10 | PETBRA 6.75 1/27/2041 | 6.75% | 01/27/41 | 31 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/16/20 – 10/23/20 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 10/16/20 – 10/23/20
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