Investment Grade Corporate Bond Market Summary – Week Ending 10/9/20
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Investment Grade Corporate Bond Market Summary: Week Ending 10/9/20
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 10/2/20 – 10/9/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GLJGR 0.875 10/7/2022 | 0.88% | 10/07/22 | 10.60% | 80.67 | 72.94 |
| 2 | CNP 7 9/1/2021 | 7.00% | 09/01/21 | 8.26% | 39.44 | 36.43 |
| 3 | PCG 5.5 8/16/2023 | 5.50% | 08/16/23 | 7.63% | 106.31 | 98.77 |
| 4 | M 6.9 4/1/2029 | 6.90% | 04/01/29 | 7.44% | 68.53 | 63.78 |
| 5 | ESSGR 3.625 2/13/2023 | 3.63% | 02/13/23 | 7.34% | 92.31 | 86.00 |
| 6 | OXY 6.625 9/1/2030 | 6.63% | 09/01/30 | 6.70% | 94.94 | 88.98 |
| 7 | PETROLEOS MEXICANOS MEDIUM | 6.75% | 09/21/47 | 6.41% | 80.33 | 75.49 |
| 8 | SWK 5.25 11/15/2022 | 5.25% | 11/15/22 | 6.00% | 107.58 | 101.49 |
| 9 | BRASKM 5.875 1/31/2050 REGS | 5.88% | 01/31/50 | 5.99% | 97.82 | 92.29 |
| 10 | EQT 3.9 10/1/2027 | 3.90% | 10/01/27 | 5.78% | 96.75 | 91.46 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 10/2/20 – 10/9/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | LIBMUT 7.697 10/15/2097 | 7.70% | 10/15/97 | -4.95% | 148.98 | 156.75 |
| 2 | ADM 5.765 3/1/2041 | 5.77% | 03/01/41 | -4.55% | 146.31 | 153.29 |
| 3 | BOSCOL 3.129 7/1/2052 | 3.13% | 07/01/52 | -3.87% | 108.59 | 112.95 |
| 4 | STNFRD 4.249 5/1/2054 | 4.25% | 05/01/54 | -3.48% | 137.25 | 142.20 |
| 5 | HMHLTH 4.5 7/1/2057 | 4.50% | 07/01/57 | -3.17% | 124.58 | 128.66 |
| 6 | NWUNI 4.198 12/1/2047 | 4.20% | 12/01/47 | -3.13% | 124.27 | 128.28 |
| 7 | ADVHEA 3.008 6/15/2050 | 3.01% | 06/15/50 | -3.12% | 102.56 | 105.86 |
| 8 | MASSIN 4.678 7/1/2014 | 4.68% | 07/01/14 | -3.09% | 143.11 | 147.67 |
| 9 | DUKHEA 3.92 6/1/2047 | 3.92% | 06/01/47 | -3.08% | 121.61 | 125.47 |
| 10 | NBR 7.5 1/15/2028 144A | 7.50% | 01/15/28 | -3.02% | 45.92 | 47.35 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 10/2/20 – 10/9/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -98 bps | -0.15% | 0.83% |
| 2 | Consumer Goods: Durable | -67 bps | 1.47% | 2.13% |
| 3 | Energy: Oil & Gas | -64 bps | 2.96% | 3.60% |
| 4 | Metals & Mining | -36 bps | 6.98% | 7.34% |
| 5 | Media: Diversified & Production | -27 bps | 0.85% | 1.12% |
| 6 | Healthcare & Pharmaceuticals | -20 bps | 0.78% | 0.98% |
| 7 | Services: Business | -18 bps | 0.62% | 0.80% |
| 8 | Construction & Building | -8 bps | 1.17% | 1.25% |
| 9 | Automotive | -7 bps | 1.67% | 1.74% |
| 10 | Utilities: Electric | -4 bps | 1.28% | 1.32% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 10/2/20 – 10/9/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | 749 bps | 17.01% | 9.52% |
| 2 | Sovereign & Public Finance | 67 bps | 1.08% | 0.42% |
| 3 | Aerospace & Defense | 47 bps | 3.23% | 2.76% |
| 4 | Transportation: Cargo | 28 bps | 1.29% | 1.00% |
| 5 | Capital Equipment | 27 bps | 1.31% | 1.04% |
| 6 | Real Estate | 27 bps | 2.21% | 1.94% |
| 7 | Retail | 17 bps | 1.94% | 1.77% |
| 8 | Insurance | 16 bps | 1.75% | 1.58% |
| 9 | Consumer Goods: Non-Durable | 15 bps | 1.38% | 1.23% |
| 10 | Banking | 12 bps | 1.51% | 1.39% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 10/2/20 – 10/9/20 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 10/2/20 – 10/9/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/2/20 vs. the week ending 10/9/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | WMT 5.25 9/1/2035 | 5.25% | 09/01/35 | 31 | 155 | 124 | 400% |
| 2 | NSANY 3.522 9/17/2025 REGS | 3.52% | 09/17/25 | 91 | 159 | 68 | 75% |
| 3 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 276 | 340 | 64 | 23% |
| 4 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 292 | 350 | 58 | 20% |
| 5 | PETBRA 6.75 1/27/2041 | 6.75% | 01/27/41 | 250 | 304 | 54 | 22% |
| 6 | BLX 2.375 9/14/2025 REGS | 2.38% | 09/14/25 | 45 | 97 | 52 | 116% |
| 7 | PETBRA 5.093 1/15/2030 REGS | 5.09% | 01/15/30 | 295 | 345 | 50 | 17% |
| 8 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 294 | 344 | 50 | 17% |
| 9 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 264 | 314 | 50 | 19% |
| 10 | FLR 1.75 3/21/2023 | 1.75% | 03/21/23 | 86 | 136 | 50 | 58% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 10/2/20 – 10/9/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | F 8.5 4/21/2023 | 8.50% | 04/21/23 | 36 |
| 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 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 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 | 33 |
| 7 | F 9 4/22/2025 | 9.00% | 04/22/25 | 33 |
| 8 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 33 |
| 9 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 32 |
| 10 | F 5.291 12/8/2046 | 5.29% | 12/08/46 | 31 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 10/2/20 – 10/9/20 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 10/2/20 – 10/9/20
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