Investment Grade Corporate Bond Market Summary – Week Ending 10/8/21
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Investment Grade Corporate Bond Market Summary: Week Ending 10/8/21
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 10/1/21 – 10/8/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BFCM 1 11/13/2026 | 1.00% | 11/13/26 | 5.39% | 103.80 | 98.49 |
| 2 | ELEVER 2.735 6/14/2035 | 2.74% | 06/14/35 | 3.69% | 113.15 | 109.12 |
| 3 | KO 6.75 1/15/2038 | 6.75% | 01/15/38 | 3.68% | 143.17 | 138.09 |
| 4 | PVAC 9.25 8/15/2026 144A | 9.25% | 08/15/26 | 2.01% | 102.76 | 100.74 |
| 5 | DOW 4 9/15/2049 | 4.00% | 09/15/49 | 1.90% | 98.25 | 96.42 |
| 6 | PERUGB 5.4 8/12/2034 | 5.40% | 08/12/34 | 1.88% | 87.62 | 86.01 |
| 7 | NEXA 6.5 1/18/2028 REGS | 6.50% | 01/18/28 | 1.59% | 111.23 | 109.50 |
| 8 | EXC 5.8 5/15/2034 | 5.80% | 05/15/34 | 1.52% | 126.32 | 124.43 |
| 9 | STR 7.2 4/1/2038 | 7.20% | 04/01/38 | 1.46% | 146.62 | 144.50 |
| 10 | DENOPE 7.75 10/2/2023 | 7.75% | 10/02/23 | 1.39% | 103.92 | 102.50 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 10/1/21 – 10/8/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CARUNA 2.701 10/16/2037 | 2.70% | 10/16/37 | -7.52% | 108.29 | 117.10 |
| 2 | SHIMAO 3.45 1/11/2031 | 3.45% | 01/11/31 | -5.75% | 84.31 | 89.45 |
| 3 | WELLTR 1.5 7/14/2071 | 1.50% | 07/14/71 | -5.70% | 85.29 | 90.44 |
| 4 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | -5.59% | 111.79 | 118.41 |
| 5 | SHUION 5.5 6/29/2026 | 5.50% | 06/29/26 | -5.22% | 90.79 | 95.79 |
| 6 | BTPCL 5 10/1/2028 | 5.00% | 10/01/28 | -5.21% | 94.95 | 100.17 |
| 7 | CCAPGR 3.5 4/15/2023 | 3.50% | 04/15/23 | -5.07% | 86.70 | 91.33 |
| 8 | NGGLN 3.35 9/27/2032 | 3.35% | 09/27/32 | -4.70% | 120.94 | 126.90 |
| 9 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | -4.47% | 123.17 | 128.94 |
| 10 | RAGB 0.85 6/30/2120 | 0.85% | 06/30/20 | -4.40% | 85.47 | 89.40 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 10/1/21 – 10/8/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | -88 bps | 0.84% | 1.72% |
| 2 | Transportation: Consumer | -11 bps | 2.12% | 2.23% |
| 3 | Services: Consumer | -8 bps | 2.38% | 2.45% |
| 4 | Metals & Mining | -6 bps | 1.77% | 1.82% |
| 5 | Forest Products & Paper | -5 bps | 1.02% | 1.07% |
| 6 | Energy: Electricity | -3 bps | 1.19% | 1.22% |
| 7 | Environmental Industries | -3 bps | 1.28% | 1.31% |
| 8 | Utilities: Electric | -2 bps | 1.44% | 1.45% |
| 9 | Services: Business | 0 bps | 0.87% | 0.87% |
| 10 | Aerospace & Defense | 0 bps | 1.57% | 1.57% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 10/1/21 – 10/8/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Advertising, Printing & Publishing | 88 bps | 1.27% | 0.39% |
| 2 | Real Estate | 19 bps | 1.87% | 1.68% |
| 3 | Sovereign & Public Finance | 19 bps | 1.12% | 0.93% |
| 4 | Hotel, Gaming & Leisure | 19 bps | 3.19% | 3.00% |
| 5 | Utilities: Water | 18 bps | 1.25% | 1.06% |
| 6 | Capital Equipment | 15 bps | 0.99% | 0.84% |
| 7 | Construction & Building | 14 bps | 1.04% | 0.90% |
| 8 | Wholesale | 12 bps | 1.52% | 1.39% |
| 9 | Chemicals, Plastics & Rubber | 12 bps | 1.50% | 1.38% |
| 10 | Automotive | 12 bps | 1.28% | 1.16% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/1/21 – 10/8/21 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 10/1/21 – 10/8/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/1/21 vs. the week ending 10/8/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ABNANV 0.5 9/23/2029 | 0.50% | 09/23/29 | 35 | 192 | 157 | 449% |
| 2 | BPLN 1.467 9/21/2041 | 1.47% | 09/21/41 | 28 | 159 | 131 | 468% |
| 3 | BUPFIN 4 PERP | 4.00% | 03/24/99 | 31 | 145 | 114 | 368% |
| 4 | AVGO 3.187 11/15/2036 144A | 3.19% | 11/15/36 | 54 | 166 | 112 | 207% |
| 5 | ACGCAP 1.95 9/20/2026 144A | 1.95% | 09/20/26 | 20 | 105 | 85 | 425% |
| 6 | PPL 5.875 3/25/2027 | 5.88% | 03/25/27 | 97 | 145 | 48 | 49% |
| 7 | RY 0 9/9/2024 | 0.38% | 09/09/24 | 22 | 65 | 43 | 195% |
| 8 | GM 2.7 6/10/2031 | 2.70% | 06/10/31 | 245 | 286 | 41 | 17% |
| 9 | AMT 1.45 9/15/2026 | 1.45% | 09/15/26 | 243 | 284 | 41 | 17% |
| 10 | WMT 2.65 9/22/2051 | 2.65% | 09/22/51 | 306 | 347 | 41 | 13% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/1/21 – 10/8/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | TD 1.25 9/10/2026 | 1.25% | 09/10/26 | 39 |
| 2 | WMT 1.8 9/22/2031 | 1.80% | 09/22/31 | 38 |
| 3 | INTC 1.6 8/12/2028 | 1.60% | 08/12/28 | 38 |
| 4 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 38 |
| 5 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 37 |
| 7 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 8 | DIS 3.6 1/13/2051 | 3.60% | 01/13/51 | 36 |
| 9 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 36 |
| 10 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/1/21 – 10/8/21 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 10/1/21 – 10/8/21
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