Investment Grade Corporate Bond Market Summary – Week Ending 11/20/20
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Investment Grade Corporate Bond Market Summary: Week Ending 11/20/20
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 11/13/20 – 11/20/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GATESW 3 2/28/2022 | 3.00% | 02/28/22 | 7.19% | 85.00 | 79.30 |
| 2 | CCL 7.2 10/1/2023 | 7.20% | 10/01/23 | 6.59% | 98.29 | 92.21 |
| 3 | GATAIR 2.875 7/5/2049 | 2.88% | 07/05/49 | 6.34% | 98.96 | 93.06 |
| 4 | PCG 4.95 7/1/2050 | 4.95% | 07/01/50 | 6.12% | 118.57 | 111.74 |
| 5 | ERAFP 5.875 5/21/2025 | 5.88% | 05/21/25 | 6.10% | 87.37 | 82.35 |
| 6 | RE 4.868 6/1/2044 | 4.87% | 06/01/44 | 5.98% | 128.67 | 121.41 |
| 7 | LUNAR 1.662 8/11/2056 | 1.66% | 08/11/56 | 5.88% | 176.60 | 166.79 |
| 8 | ASCHEA 4.847 11/15/2053 | 4.85% | 11/15/53 | 5.70% | 148.16 | 140.17 |
| 9 | CSX 4.25 11/1/2066 | 4.25% | 11/01/66 | 5.69% | 133.57 | 126.37 |
| 10 | TJX 4.5 4/15/2050 | 4.50% | 04/15/50 | 5.60% | 142.83 | 135.26 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 11/13/20 – 11/20/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GRNLGR 7.25 1/22/2025 | 7.25% | 01/22/25 | -10.67% | 84.67 | 94.78 |
| 2 | HAOHUA 5.125 3/14/2028 | 5.13% | 03/14/28 | -5.53% | 108.13 | 114.46 |
| 3 | DEHEHO 0.875 7/15/2025 | 0.88% | 07/15/25 | -3.95% | 101.58 | 105.76 |
| 4 | POSEDF 0 2/1/2025 | 0.00% | 02/01/25 | -3.59% | 95.31 | 98.86 |
| 5 | YUNAEN 4.25 11/14/2022 | 4.25% | 11/14/22 | -3.57% | 94.31 | 97.80 |
| 6 | ACAFP 8.33 PERP | 0.00% | 12/29/49 | -3.08% | 84.42 | 87.10 |
| 7 | YANGTZ 0 11/9/2021 | 0.00% | 11/09/21 | -2.32% | 102.91 | 105.36 |
| 8 | NGGLN 5.803 4/1/2035 | 5.80% | 04/01/35 | -2.20% | 131.41 | 134.37 |
| 9 | HA 3.9 1/15/2026 | 3.90% | 01/15/26 | -2.18% | 80.47 | 82.26 |
| 10 | AFFP 4.35 12/15/2026 | 4.35% | 12/15/26 | -1.95% | 114.38 | 116.65 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 11/13/20 – 11/20/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Construction & Building | -37 bps | 0.88% | 1.24% |
| 2 | Telecommunications | -26 bps | 0.97% | 1.24% |
| 3 | Energy: Electricity | -23 bps | -0.69% | -0.46% |
| 4 | Hotel, Gaming & Leisure | -21 bps | 2.99% | 3.20% |
| 5 | Real Estate | -10 bps | 1.71% | 1.81% |
| 6 | Automotive | -9 bps | 1.21% | 1.31% |
| 7 | Beverage, Food & Tobacco | -9 bps | 0.78% | 0.87% |
| 8 | Insurance | -9 bps | 1.47% | 1.57% |
| 9 | High Tech Industries | -8 bps | 0.84% | 0.92% |
| 10 | Consumer Goods: Durable | -7 bps | 1.61% | 1.68% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 11/13/20 – 11/20/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | 973 bps | 19.50% | 9.77% |
| 2 | Metals & Mining | 92 bps | 4.32% | 3.41% |
| 3 | Sovereign & Public Finance | 50 bps | 1.14% | 0.64% |
| 4 | Aerospace & Defense | 40 bps | 2.52% | 2.12% |
| 5 | Chemicals, Plastics & Rubber | 30 bps | 1.68% | 1.38% |
| 6 | Transportation: Consumer | 25 bps | 3.16% | 2.91% |
| 7 | Media: Diversified & Production | 22 bps | 1.37% | 1.15% |
| 8 | Services: Business | 22 bps | 0.94% | 0.73% |
| 9 | Banking | 15 bps | 1.46% | 1.30% |
| 10 | Transportation: Cargo | 12 bps | 0.98% | 0.85% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/13/20 – 11/20/20 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 11/13/20 – 11/20/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/13/20 vs. the week ending 11/20/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BMY 2.35 11/13/2040 | 2.35% | 11/13/40 | 77 | 167 | 90 | 117% |
| 2 | COLSM 1.35 10/14/2028 | 1.35% | 10/14/28 | 18 | 107 | 89 | 494% |
| 3 | REPSM 0.125 10/5/2024 | 0.13% | 10/05/24 | 17 | 101 | 84 | 494% |
| 4 | BMY 0.75 11/13/2025 | 0.75% | 11/13/25 | 108 | 189 | 81 | 75% |
| 5 | BEVLUX 1.5 9/16/2027 | 1.50% | 09/16/27 | 17 | 98 | 81 | 476% |
| 6 | DGELN 1.25 3/28/2033 | 1.25% | 03/28/33 | 14 | 95 | 81 | 579% |
| 7 | BMY 2.55 11/13/2050 | 2.55% | 11/13/50 | 79 | 159 | 80 | 101% |
| 8 | BMY 1.125 11/13/2027 | 1.13% | 11/13/27 | 74 | 153 | 79 | 107% |
| 9 | GSWITC 1.375 10/7/2030 | 1.38% | 10/07/30 | 13 | 91 | 78 | 600% |
| 10 | ICADFP 1.375 9/17/2030 | 1.38% | 09/17/30 | 16 | 94 | 78 | 488% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/13/20 – 11/20/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 34 |
| 2 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 34 |
| 3 | PETBRA 6.75 1/27/2041 | 6.75% | 01/27/41 | 33 |
| 4 | PETBRA 6.75 6/3/2050 | 6.75% | 06/03/50 | 33 |
| 5 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 33 |
| 6 | PETBRA 5.093 1/15/2030 REGS | 5.09% | 01/15/30 | 32 |
| 7 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 30 |
| 8 | CVS 4.3 3/25/2028 | 4.30% | 03/25/28 | 30 |
| 9 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 30 |
| 10 | TOTAL 2.829 1/10/2030 | 2.83% | 01/10/30 | 29 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/13/20 – 11/20/20 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 11/13/20 – 11/20/20
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