Investment Grade Corporate Bond Market Summary – Week Ending 12/24/20
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Investment Grade Corporate Bond Market Summary: Week Ending 12/24/20
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 12/18/20 – 12/24/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UDR 3.75 7/1/2024 | 3.75% | 07/01/24 | 11.41% | 111.52 | 100.10 |
| 2 | BACR 0 3/15/2038 | 0.00% | 03/15/38 | 8.29% | 75.80 | 70.00 |
| 3 | DUK 3.112 9/1/2036 | 3.11% | 09/01/36 | 5.46% | 112.49 | 106.67 |
| 4 | ACGB 5.5 4/21/2023 | 5.50% | 04/21/23 | 4.30% | 112.37 | 107.73 |
| 5 | HA 3.9 1/15/2026 | 3.90% | 01/15/26 | 4.29% | 87.86 | 84.25 |
| 6 | SNMCN 12 7/5/2023 | 12.00% | 07/05/23 | 4.00% | 76.16 | 73.23 |
| 7 | VW 1.25 12/15/2025 | 1.25% | 12/15/25 | 3.81% | 104.62 | 100.78 |
| 8 | VIAC 4.875 6/15/2043 | 4.88% | 06/15/43 | 3.66% | 111.64 | 107.70 |
| 9 | FDX 4.5 2/1/2065 | 4.50% | 02/01/65 | 3.52% | 116.14 | 112.19 |
| 10 | DOV 6.6 3/15/2038 | 6.60% | 03/15/38 | 3.37% | 142.94 | 138.29 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/18/20 – 12/24/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | -3.01% | 62.54 | 64.48 |
| 2 | VZ 2.987 10/30/2056 144A | 2.99% | 10/30/56 | -2.77% | 100.17 | 103.02 |
| 3 | TEL 7.125 10/1/2037 | 7.13% | 10/01/37 | -2.62% | 152.63 | 156.73 |
| 4 | SPGI 4.5 5/15/2048 | 4.50% | 05/15/48 | -2.53% | 129.95 | 133.33 |
| 5 | BEIPRO 5.95 2/27/2023 | 5.95% | 02/27/23 | -2.52% | 92.93 | 95.34 |
| 6 | NOLSP 8 1/15/2024 | 8.00% | 01/15/24 | -2.22% | 89.14 | 91.16 |
| 7 | EXC 3.5 8/15/2046 | 3.50% | 08/15/46 | -2.12% | 114.94 | 117.43 |
| 8 | SEP 4.15 1/15/2048 144A | 4.15% | 01/15/48 | -2.12% | 108.57 | 110.92 |
| 9 | HKAA 3.45 2/21/2029 | 3.45% | 02/21/29 | -2.05% | 110.50 | 112.82 |
| 10 | VOD 6.25 11/30/2032 | 6.25% | 11/30/32 | -2.01% | 136.88 | 139.68 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/18/20 – 12/24/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Hotel, Gaming & Leisure | -29 bps | 2.11% | 2.40% |
| 2 | Media: Diversified & Production | -25 bps | 1.03% | 1.27% |
| 3 | Construction & Building | -14 bps | 0.52% | 0.65% |
| 4 | Utilities: Water | -10 bps | 0.78% | 0.89% |
| 5 | Consumer Goods: Durable | -8 bps | 1.34% | 1.42% |
| 6 | Consumer Goods: Non-Durable | -6 bps | 0.79% | 0.85% |
| 7 | Real Estate | -5 bps | 1.40% | 1.45% |
| 8 | Insurance | -3 bps | 1.37% | 1.41% |
| 9 | Containers, Packaging, & Glass | 0 bps | 1.19% | 1.19% |
| 10 | Forest Products & Paper | 1 bps | 0.83% | 0.82% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/18/20 – 12/24/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | 1038 bps | 21.24% | 10.86% |
| 2 | Metals & Mining | 161 bps | 4.98% | 3.37% |
| 3 | Energy: Electricity | 150 bps | 0.49% | -1.00% |
| 4 | Telecommunications | 50 bps | 1.61% | 1.10% |
| 5 | Transportation: Consumer | 45 bps | 2.64% | 2.19% |
| 6 | Chemicals, Plastics & Rubber | 39 bps | 1.56% | 1.17% |
| 7 | Aerospace & Defense | 35 bps | 1.85% | 1.50% |
| 8 | Healthcare & Pharmaceuticals | 30 bps | 0.84% | 0.54% |
| 9 | Sovereign & Public Finance | 26 bps | 1.16% | 0.90% |
| 10 | Capital Equipment | 24 bps | 0.61% | 0.37% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 12/18/20 – 12/24/20 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 12/18/20 – 12/24/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/18/20 vs. the week ending 12/24/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CARR 2.7 2/15/2031 | 2.70% | 02/15/31 | 31 | 104 | 73 | 235% |
| 2 | BPLN 0.933 12/4/2040 | 0.93% | 12/04/40 | 35 | 107 | 72 | 206% |
| 3 | RPRX 2.2 9/2/2030 REGS | 2.20% | 09/02/30 | 32 | 96 | 64 | 200% |
| 4 | SBBBSS 0.75 12/14/2028 | 0.75% | 12/14/28 | 24 | 85 | 61 | 254% |
| 5 | ULFP 1.375 12/4/2031 | 1.38% | 12/04/31 | 18 | 74 | 56 | 311% |
| 6 | CARDFP 1.625 5/30/2027 | 1.63% | 05/30/27 | 21 | 70 | 49 | 233% |
| 7 | SBBBSS 2.625 PERP | 2.63% | 12/14/99 | 19 | 68 | 49 | 258% |
| 8 | POSIM 0 12/10/2024 | 0.00% | 12/10/24 | 17 | 63 | 46 | 271% |
| 9 | DGFP 0 11/27/2028 | 0.00% | 11/27/28 | 24 | 66 | 42 | 175% |
| 10 | FCABNK 0.125 11/16/2023 | 0.13% | 11/16/23 | 18 | 60 | 42 | 233% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 12/18/20 – 12/24/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 31 |
| 2 | GM 6.125 10/1/2025 | 6.13% | 10/01/25 | 30 |
| 3 | NVDA 2.85 4/1/2030 | 2.85% | 04/01/30 | 30 |
| 4 | PETBRA 5.6 1/3/2031 | 5.60% | 01/03/31 | 30 |
| 5 | AAPL 1.25 8/20/2030 | 1.25% | 08/20/30 | 30 |
| 6 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 30 |
| 7 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 29 |
| 8 | BPLN 1.749 8/10/2030 | 1.75% | 08/10/30 | 29 |
| 9 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 29 |
| 10 | BMY 2.55 11/13/2050 | 2.55% | 11/13/50 | 29 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 12/18/20 – 12/24/20 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 12/18/20 – 12/24/20
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