Investment Grade Corporate Bond Market Summary – Week Ending 12/10/21
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Investment Grade Corporate Bond Market Summary: Week Ending 12/10/21
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 12/3/21 – 12/10/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SHIMAO 4.6 7/13/2030 | 4.60% | 07/13/30 | 15.94% | 76.96 | 66.38 |
| 2 | PEMEX 6.625 9/29/2049 | 6.63% | 09/29/49 | 5.36% | 83.13 | 78.90 |
| 3 | HRINTH 4.25 PERP | 4.25% | 09/30/99 | 4.37% | 94.64 | 90.68 |
| 4 | GS 1 12/21/2025 | 1.00% | 12/21/25 | 4.14% | 102.26 | 98.19 |
| 5 | REPHUN 3.125 9/21/2051 REGS | 3.13% | 09/21/51 | 3.93% | 99.73 | 95.96 |
| 6 | MEXCAT 5.5 7/31/2047 REGS | 5.50% | 07/31/47 | 3.11% | 99.76 | 96.75 |
| 7 | ALFACL 4.55 9/27/2051 REGS | 4.55% | 09/27/51 | 3.04% | 98.80 | 95.89 |
| 8 | NGGLN 0.872 11/26/2040 | 0.87% | 11/26/40 | 3.03% | 98.12 | 95.23 |
| 9 | DLDETA 5.95 7/29/2022 | 5.95% | 07/29/22 | 2.90% | 92.86 | 90.25 |
| 10 | SINOCE 5.95 2/4/2027 | 5.95% | 02/04/27 | 2.78% | 96.51 | 93.90 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/3/21 – 12/10/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | TMO 4.133 3/25/2025 | 4.13% | 03/25/25 | -7.58% | 100.26 | 108.49 |
| 2 | XEL 3.75 12/1/2047 | 3.75% | 12/01/47 | -7.28% | 109.77 | 118.39 |
| 3 | CATHLI 3.368 7/1/2050 | 3.37% | 07/01/50 | -4.35% | 103.33 | 108.03 |
| 4 | BAYCAR 3.831 11/15/2050 | 3.83% | 11/15/50 | -4.09% | 119.73 | 124.84 |
| 5 | TOPTB 3.5 10/17/2049 REGS | 3.50% | 10/17/49 | -4.08% | 84.84 | 88.45 |
| 6 | USCTRJ 3.226 10/1/2120 | 3.23% | 10/01/20 | -4.07% | 104.42 | 108.85 |
| 7 | GOOGL 2.25 8/15/2060 | 2.25% | 08/15/60 | -3.93% | 88.77 | 92.40 |
| 8 | COTHEA 3.304 11/1/2049 | 3.30% | 11/01/49 | -3.85% | 107.89 | 112.21 |
| 9 | HARVRD 3.3 7/15/2056 | 3.30% | 07/15/56 | -3.75% | 115.53 | 120.03 |
| 10 | CMCSA 2.65 8/15/2062 | 2.65% | 08/15/62 | -3.60% | 89.20 | 92.54 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/3/21 – 12/10/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Broadcasting & Subscription | -49 bps | 1.79% | 2.28% |
| 2 | Energy: Electricity | -37 bps | 0.82% | 1.18% |
| 3 | Energy: Oil & Gas | -18 bps | 2.20% | 2.39% |
| 4 | Media: Diversified & Production | -17 bps | 1.64% | 1.81% |
| 5 | Construction & Building | -11 bps | 1.09% | 1.20% |
| 6 | Telecommunications | -7 bps | 1.49% | 1.56% |
| 7 | Transportation: Consumer | -6 bps | 2.17% | 2.23% |
| 8 | Beverage, Food & Tobacco | -5 bps | 1.34% | 1.39% |
| 9 | Metals & Mining | -5 bps | 2.01% | 2.05% |
| 10 | Media: Advertising, Printing & Publishing | -5 bps | 1.47% | 1.51% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/3/21 – 12/10/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 62 bps | 1.82% | 1.21% |
| 2 | Forest Products & Paper | 61 bps | 1.80% | 1.19% |
| 3 | Containers, Packaging, & Glass | 31 bps | 1.39% | 1.08% |
| 4 | Finance | 20 bps | 1.80% | 1.60% |
| 5 | Utilities: Oil & Gas | 17 bps | 1.81% | 1.64% |
| 6 | Utilities: Water | 15 bps | 1.24% | 1.09% |
| 7 | Insurance | 11 bps | 1.86% | 1.75% |
| 8 | Banking | 11 bps | 1.48% | 1.37% |
| 9 | Services: Business | 9 bps | 1.25% | 1.15% |
| 10 | Hotel, Gaming & Leisure | 9 bps | 3.10% | 3.01% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/3/21 – 12/10/21 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 12/3/21 – 12/10/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/3/21 vs. the week ending 12/10/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | DUK 2.4 12/15/2031 | 2.40% | 12/15/31 | 172 | 280 | 108 | 63% |
| 2 | DUK 3 12/15/2051 | 3.00% | 12/15/51 | 173 | 277 | 104 | 60% |
| 3 | ED 3.2 12/1/2051 | 3.20% | 12/01/51 | 148 | 215 | 67 | 45% |
| 4 | DE 2.875 9/7/2049 | 2.88% | 09/07/49 | 204 | 243 | 39 | 19% |
| 5 | EMR 1.8 10/15/2027 | 1.80% | 10/15/27 | 126 | 165 | 39 | 31% |
| 6 | RDSALN 3 11/26/2051 | 3.00% | 11/26/51 | 245 | 282 | 37 | 15% |
| 7 | DE 3.9 6/9/2042 | 3.90% | 06/09/42 | 193 | 228 | 35 | 18% |
| 8 | RTEFRA 2 4/18/2036 | 2.00% | 04/18/36 | 123 | 157 | 34 | 28% |
| 9 | CAT 3.25 4/9/2050 | 3.25% | 04/09/50 | 267 | 300 | 33 | 12% |
| 10 | BAC 2.496 2/13/2031 | 2.50% | 02/13/31 | 166 | 199 | 33 | 20% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/3/21 – 12/10/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CP 2.45 12/2/2031 | 2.45% | 12/02/31 | 39 |
| 2 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 39 |
| 3 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 38 |
| 4 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 37 |
| 5 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 37 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 37 |
| 7 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 8 | CMCSA 1.5 2/15/2031 | 1.50% | 02/15/31 | 37 |
| 9 | CP 3.1 12/2/2051 | 3.10% | 12/02/51 | 37 |
| 10 | HSBC 2.251 11/22/2027 | 2.25% | 11/22/27 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/3/21 – 12/10/21 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 12/3/21 – 12/10/21
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