Investment Grade Corporate Bond Market Summary – Week Ending 12/17/21
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Investment Grade Corporate Bond Market Summary: Week Ending 12/17/21
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 12/10/21 – 12/17/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ANZ 3.4 12/20/2039 | 3.40% | 12/20/39 | 5.90% | 94.88 | 89.59 |
| 2 | NI 6.25 12/15/2040 | 6.25% | 12/15/40 | 3.86% | 140.09 | 134.88 |
| 3 | GATESW 3 2/28/2022 | 3.00% | 02/28/22 | 3.68% | 84.87 | 81.85 |
| 4 | QUEENS 2.889 4/27/2060 | 2.89% | 04/27/60 | 3.47% | 97.48 | 94.20 |
| 5 | VNKRLE 3.5 11/12/2029 | 3.50% | 11/12/29 | 3.28% | 102.97 | 99.70 |
| 6 | ROMGB 4.75 10/11/2034 | 4.75% | 10/11/34 | 3.09% | 94.93 | 92.08 |
| 7 | YUNINV 6.25 3/5/2022 | 6.25% | 03/05/22 | 3.03% | 98.67 | 95.77 |
| 8 | SASATI 3.25 6/30/2026 | 3.25% | 06/30/26 | 2.99% | 106.57 | 103.48 |
| 9 | RYEUNI 3.768 10/11/2057 | 3.77% | 10/11/57 | 2.91% | 114.74 | 111.49 |
| 10 | MASSIN 3.885 7/1/2016 | 3.89% | 07/01/16 | 2.89% | 118.60 | 115.27 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/10/21 – 12/17/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ALPHA 0 PERP | 3.42% | 12/29/49 | -9.13% | 66.90 | 73.63 |
| 2 | LUNAR 1.662 8/11/2056 | 1.66% | 08/11/56 | -7.76% | 183.51 | 198.94 |
| 3 | BILI 0.5 12/1/2026 | 0.50% | 12/01/26 | -7.51% | 85.38 | 92.31 |
| 4 | KEL 1.7085 2/1/2058 | 1.71% | 02/01/58 | -7.35% | 211.94 | 228.74 |
| 5 | UU 1.702 11/21/2057 | 1.70% | 11/21/57 | -6.10% | 220.02 | 234.31 |
| 6 | GLAS 1.859 3/31/2048 | 1.86% | 03/31/48 | -5.62% | 200.58 | 212.52 |
| 7 | PPL 2.671 6/1/2043 | 2.67% | 06/01/43 | -4.81% | 192.79 | 202.53 |
| 8 | SEWLTD 2.5329 6/3/2041 | 2.53% | 06/03/41 | -4.75% | 168.61 | 177.02 |
| 9 | HTHROW 1.238 3/22/2040 | 1.24% | 03/22/40 | -4.66% | 132.65 | 139.14 |
| 10 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | -4.61% | 137.32 | 143.96 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/10/21 – 12/17/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | -59 bps | 0.83% | 1.42% |
| 2 | Construction & Building | -17 bps | 1.10% | 1.27% |
| 3 | Services: Business | -16 bps | 1.09% | 1.25% |
| 4 | Insurance | -16 bps | 1.69% | 1.85% |
| 5 | Transportation: Cargo | -15 bps | 1.61% | 1.76% |
| 6 | Services: Consumer | -15 bps | 2.67% | 2.82% |
| 7 | Beverage, Food & Tobacco | -14 bps | 1.28% | 1.42% |
| 8 | Wholesale | -11 bps | 1.57% | 1.68% |
| 9 | Metals & Mining | -11 bps | 1.92% | 2.03% |
| 10 | Chemicals, Plastics & Rubber | -9 bps | 1.49% | 1.58% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/10/21 – 12/17/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Forest Products & Paper | 61 bps | 1.94% | 1.33% |
| 2 | Sovereign & Public Finance | 54 bps | 1.80% | 1.26% |
| 3 | Media: Broadcasting & Subscription | 39 bps | 2.20% | 1.80% |
| 4 | Consumer Goods: Durable | 38 bps | 1.49% | 1.11% |
| 5 | Energy: Electricity | 32 bps | 1.15% | 0.83% |
| 6 | Hotel, Gaming & Leisure | 25 bps | 3.27% | 3.02% |
| 7 | 0 | 20 bps | 4.55% | 4.35% |
| 8 | Finance | 11 bps | 1.79% | 1.67% |
| 9 | Media: Diversified & Production | 9 bps | 1.73% | 1.64% |
| 10 | Telecommunications | 8 bps | 1.58% | 1.49% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/10/21 – 12/17/21 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 12/10/21 – 12/17/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/10/21 vs. the week ending 12/17/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ROMANI 6.125 1/22/2044 | 6.13% | 01/22/44 | 20 | 86 | 66 | 330% |
| 2 | DUK 2.55 6/15/2031 | 2.55% | 06/15/31 | 226 | 288 | 62 | 27% |
| 3 | EXC 4.05 4/15/2030 | 4.05% | 04/15/30 | 240 | 288 | 48 | 20% |
| 4 | ABIBB 3.5 6/1/2030 | 3.50% | 06/01/30 | 267 | 313 | 46 | 17% |
| 5 | PEP 3 10/15/2027 | 3.00% | 10/15/27 | 162 | 205 | 43 | 27% |
| 6 | ED 2.4 6/15/2031 | 2.40% | 06/15/31 | 190 | 233 | 43 | 23% |
| 7 | JPM 0 12/10/2025 | 0.00% | 12/10/25 | 18 | 59 | 41 | 228% |
| 8 | NI 2.95 9/1/2029 | 2.95% | 09/01/29 | 117 | 158 | 41 | 35% |
| 9 | ED 4.125 5/15/2049 | 4.13% | 05/15/49 | 110 | 150 | 40 | 36% |
| 10 | CHEVBK 1.27 12/1/2024 | 1.27% | 12/01/24 | 83 | 122 | 39 | 47% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/10/21 – 12/17/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | CP 2.45 12/2/2031 | 2.45% | 12/02/31 | 40 |
| 2 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 40 |
| 3 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 39 |
| 4 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 38 |
| 5 | MRK 2.15 12/10/2031 | 2.15% | 12/10/31 | 37 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 37 |
| 7 | CP 3.1 12/2/2051 | 3.10% | 12/02/51 | 37 |
| 8 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 9 | CMCSA 1.5 2/15/2031 | 1.50% | 02/15/31 | 37 |
| 10 | CP 3 12/2/2041 | 3.00% | 12/02/41 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/10/21 – 12/17/21 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 12/10/21 – 12/17/21
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