Investment Grade Corporate Bond Market Summary – Week Ending 12/3/21
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Investment Grade Corporate Bond Market Summary: Week Ending 12/3/21
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 11/26/21 – 12/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | LLY 1.375 9/14/2061 | 1.38% | 09/14/61 | 8.48% | 99.59 | 91.80 |
| 2 | WALLOO 1.25 6/22/2071 | 1.25% | 06/22/71 | 7.00% | 101.61 | 94.96 |
| 3 | CPPIBC 1.625 10/22/2071 | 1.63% | 10/22/71 | 5.97% | 114.67 | 108.21 |
| 4 | PERU 3.23 7/28/2121 | 3.23% | 07/28/21 | 5.94% | 85.63 | 80.83 |
| 5 | NYLIFE 4.45 4/4/2069 144A | 4.45% | 05/15/69 | 5.93% | 131.37 | 124.01 |
| 6 | COLOM 3.875 2/15/2061 | 3.88% | 02/15/61 | 5.92% | 79.92 | 75.45 |
| 7 | DHR 1.8 9/18/2049 | 1.80% | 09/18/49 | 5.87% | 110.94 | 104.79 |
| 8 | MASSMU 4.9 4/1/2077 | 4.90% | 04/01/77 | 5.68% | 135.10 | 127.84 |
| 9 | NWMLIC 3.625 9/30/2059 144A | 3.63% | 09/30/59 | 5.63% | 113.52 | 107.46 |
| 10 | EDF 2 12/9/2049 | 2.00% | 12/09/49 | 5.63% | 111.39 | 105.45 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 11/26/21 – 12/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | COLLIN 0 11/23/2023 | 4.02% | 11/23/23 | -5.37% | 88.00 | 93.00 |
| 2 | SHIMAO 5.6 7/15/2026 | 5.60% | 07/15/26 | -4.44% | 69.02 | 72.23 |
| 3 | JUVEIM 3.375 2/19/2024 | 3.38% | 02/19/24 | -3.72% | 95.94 | 99.64 |
| 4 | ADJGR 2.75 11/13/2026 | 2.75% | 11/13/26 | -3.13% | 85.01 | 87.75 |
| 5 | MEXCAT 5.5 10/31/2046 | 5.50% | 10/31/46 | -3.12% | 96.70 | 99.82 |
| 6 | PHILIP 6.25 1/14/2036 | 6.25% | 01/14/36 | -2.92% | 111.44 | 114.79 |
| 7 | AIFP 3 3/17/2029 | 3.00% | 03/17/29 | -2.84% | 117.30 | 120.73 |
| 8 | EKT 4.875 1/15/2028 REGS | 4.88% | 01/15/28 | -2.70% | 93.03 | 95.62 |
| 9 | SIERRA 6 6/15/2028 REGS | 6.00% | 06/15/28 | -2.56% | 92.57 | 95.00 |
| 10 | INDOGB 7.5 6/15/2035 | 7.50% | 06/15/35 | -2.10% | 103.77 | 106.00 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 11/26/21 – 12/3/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | -50 bps | 1.04% | 1.54% |
| 2 | Forest Products & Paper | -36 bps | 1.30% | 1.66% |
| 3 | Transportation: Consumer | -15 bps | 2.02% | 2.17% |
| 4 | Retail | -10 bps | 1.92% | 2.02% |
| 5 | Media: Advertising, Printing & Publishing | -8 bps | 1.47% | 1.54% |
| 6 | Media: Broadcasting & Subscription | -7 bps | 2.24% | 2.31% |
| 7 | Energy: Oil & Gas | -6 bps | 2.35% | 2.42% |
| 8 | Insurance | -3 bps | 1.72% | 1.75% |
| 9 | Wholesale | -2 bps | 1.67% | 1.69% |
| 10 | Transportation: Cargo | 0 bps | 1.70% | 1.70% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 11/26/21 – 12/3/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | 82 bps | 1.79% | 0.97% |
| 2 | Sovereign & Public Finance | 65 bps | 1.83% | 1.18% |
| 3 | Chemicals, Plastics & Rubber | 59 bps | 1.58% | 0.99% |
| 4 | Capital Equipment | 59 bps | 1.25% | 0.66% |
| 5 | Energy: Electricity | 49 bps | 1.20% | 0.71% |
| 6 | Healthcare & Pharmaceuticals | 40 bps | 1.31% | 0.92% |
| 7 | Consumer Goods: Durable | 34 bps | 1.27% | 0.93% |
| 8 | Beverage, Food & Tobacco | 33 bps | 1.30% | 0.97% |
| 9 | Consumer Goods: Non-Durable | 27 bps | 1.28% | 1.01% |
| 10 | Aerospace & Defense | 22 bps | 1.76% | 1.54% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 11/26/21 – 12/3/21 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 11/26/21 – 12/3/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 11/26/21 vs. the week ending 12/3/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | LUKOIL 3.6 10/26/2031 144A | 3.60% | 10/26/31 | 20 | 110 | 90 | 450% |
| 2 | BYLAN 1.375 11/22/2032 | 1.38% | 11/22/32 | 110 | 160 | 50 | 45% |
| 3 | CP 3.1 12/2/2051 | 3.10% | 12/02/51 | 316 | 361 | 45 | 14% |
| 4 | DTE 2.625 3/1/2031 | 2.63% | 03/01/31 | 178 | 220 | 42 | 24% |
| 5 | ED 2.4 6/15/2031 | 2.40% | 06/15/31 | 191 | 231 | 40 | 21% |
| 6 | BRKHEC 2.85 5/15/2051 | 2.85% | 05/15/51 | 100 | 139 | 39 | 39% |
| 7 | SHIMAO 3.975 9/16/2023 | 3.98% | 09/16/23 | 240 | 278 | 38 | 16% |
| 8 | DLTR 4 5/15/2025 | 4.00% | 05/15/25 | 165 | 202 | 37 | 22% |
| 9 | HKINTL 1.75 11/24/2031 | 1.75% | 11/24/31 | 77 | 113 | 36 | 47% |
| 10 | BBDC 3.3 11/23/2026 144A | 3.30% | 11/23/26 | 60 | 95 | 35 | 58% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 11/26/21 – 12/3/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 40 |
| 2 | CMCSA 1.5 2/15/2031 | 1.50% | 02/15/31 | 39 |
| 3 | T 1.65 2/1/2028 | 1.65% | 02/01/28 | 37 |
| 4 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 37 |
| 5 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 37 |
| 6 | SHW 2.2 3/15/2032 | 2.20% | 03/15/32 | 37 |
| 7 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 37 |
| 8 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 37 |
| 9 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 36 |
| 10 | CP 3.1 12/2/2051 | 3.10% | 12/02/51 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 11/26/21 – 12/3/21 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 11/26/21 – 12/3/21
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