Investment Grade Corporate Bond Market Summary – Week Ending 2/12/21
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Investment Grade Corporate Bond Market Summary: Week Ending 2/12/21
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 2/5/21 – 2/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SECBEN 7 PERP 144A | 7.00% | 02/07/99 | 9.05% | 93.13 | 85.40 |
| 2 | BOWDOI 4.693 7/1/2012 | 4.69% | 07/01/12 | 6.31% | 122.19 | 114.94 |
| 3 | TOWHEA 4.451 2/1/2050 | 4.45% | 02/01/50 | 5.49% | 86.52 | 82.02 |
| 4 | ANTHOL 8.5 5/18/2025 | 8.50% | 05/18/25 | 4.30% | 119.54 | 114.61 |
| 5 | BPL 6.375 1/22/2078 | 6.38% | 01/22/78 | 3.78% | 81.69 | 78.72 |
| 6 | BATSLN 5.75 7/5/2040 | 5.75% | 07/05/40 | 3.72% | 141.95 | 136.86 |
| 7 | AAL 7.125 10/22/2023 | 7.13% | 10/22/23 | 3.58% | 101.17 | 97.68 |
| 8 | THECPC 2.867 2/1/2030 | 2.87% | 02/01/30 | 3.56% | 106.73 | 103.07 |
| 9 | HAOHUA 5.5 3/14/2048 | 5.50% | 03/14/48 | 3.51% | 116.42 | 112.48 |
| 10 | HSBC 4.75 3/24/2046 | 4.75% | 03/24/46 | 3.40% | 144.09 | 139.36 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 2/5/21 – 2/12/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GLJGR 1 4/5/2023 | 1.00% | 04/05/23 | -15.89% | 78.27 | 93.05 |
| 2 | ENELGX 7.325 2/1/2037 | 7.33% | 02/01/37 | -4.04% | 122.83 | 128.00 |
| 3 | YUNINV 6.25 3/5/2022 | 6.25% | 03/05/22 | -3.46% | 92.46 | 95.77 |
| 4 | WMT 4.75 10/2/2043 | 4.75% | 10/02/43 | -3.21% | 128.62 | 132.89 |
| 5 | ALL 6.125 12/15/2032 | 6.13% | 12/15/32 | -3.18% | 131.07 | 135.37 |
| 6 | EL 3.7 8/15/2042 | 3.70% | 08/15/42 | -3.17% | 107.66 | 111.19 |
| 7 | BRKHEC 2.25 10/9/2059 | 2.25% | 10/09/59 | -3.15% | 111.95 | 115.59 |
| 8 | COLUNV 3.827 10/1/2042 | 3.83% | 10/01/42 | -2.95% | 117.24 | 120.81 |
| 9 | LIFEVT 10.5 9/15/2039 | 10.50% | 09/15/39 | -2.88% | 161.29 | 166.08 |
| 10 | WEC 3.65 12/15/2042 | 3.65% | 12/15/42 | -2.75% | 106.96 | 109.98 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 2/5/21 – 2/12/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Wholesale | -51 bps | 1.13% | 1.64% |
| 2 | Metals & Mining | -51 bps | 6.98% | 7.49% |
| 3 | Chemicals, Plastics & Rubber | -25 bps | 0.97% | 1.22% |
| 4 | Consumer Goods: Durable | -14 bps | 1.34% | 1.48% |
| 5 | Utilities: Water | -9 bps | 0.79% | 0.88% |
| 6 | Utilities: Electric | -8 bps | 0.92% | 1.00% |
| 7 | Real Estate | -8 bps | 1.31% | 1.38% |
| 8 | Insurance | -7 bps | 1.28% | 1.35% |
| 9 | Telecommunications | -6 bps | 0.96% | 1.02% |
| 10 | Consumer Goods: Non-Durable | -4 bps | 0.70% | 0.74% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 2/5/21 – 2/12/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 214 bps | 0.63% | -1.51% |
| 2 | High Tech Industries | 55 bps | 0.91% | 0.36% |
| 3 | Capital Equipment | 49 bps | 0.67% | 0.18% |
| 4 | Transportation: Cargo | 47 bps | 1.19% | 0.72% |
| 5 | Sovereign & Public Finance | 46 bps | 0.91% | 0.45% |
| 6 | Hotel, Gaming & Leisure | 30 bps | 2.81% | 2.51% |
| 7 | Aerospace & Defense | 29 bps | 1.87% | 1.58% |
| 8 | Healthcare & Pharmaceuticals | 29 bps | 0.72% | 0.44% |
| 9 | Transportation: Consumer | 15 bps | 2.20% | 2.05% |
| 10 | Containers, Packaging, & Glass | 9 bps | 0.66% | 0.56% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/5/21 – 2/12/21 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 2/5/21 – 2/12/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/5/21 vs. the week ending 2/12/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CTL 4 2/15/2027 | 4.00% | 02/15/27 | 134 | 195 | 61 | 46% |
| 2 | MKC 3.25 11/15/2025 | 3.25% | 11/15/25 | 43 | 103 | 60 | 140% |
| 3 | BMW 0.75 3/8/2024 | 0.75% | 03/08/24 | 40 | 96 | 56 | 140% |
| 4 | MOTOPG 1.5 1/20/2041 | 1.50% | 01/20/41 | 62 | 109 | 47 | 76% |
| 5 | HAYREA 5.25 11/15/2022 REGS | 5.25% | 11/15/22 | 15 | 59 | 44 | 293% |
| 6 | GLJGR 1.5 10/5/2023 | 1.50% | 10/05/23 | 75 | 118 | 43 | 57% |
| 7 | GLJGR 1.125 2/2/2022 | 1.13% | 02/02/22 | 75 | 117 | 42 | 56% |
| 8 | VW 3.5 PERP | 3.50% | 06/17/99 | 132 | 173 | 41 | 31% |
| 9 | GOOGL 0.8 8/15/2027 | 0.80% | 08/15/27 | 252 | 291 | 39 | 15% |
| 10 | CCI 2.25 1/15/2031 | 2.25% | 01/15/31 | 262 | 301 | 39 | 15% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/5/21 – 2/12/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 38 |
| 2 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 37 |
| 3 | VZ 1.75 1/20/2031 | 1.75% | 01/20/31 | 35 |
| 4 | GM 1.25 1/8/2026 | 1.25% | 01/08/26 | 35 |
| 5 | XOM 3.452 4/15/2051 | 3.45% | 04/15/51 | 35 |
| 6 | RY 0.875 1/20/2026 | 0.88% | 01/20/26 | 34 |
| 7 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 34 |
| 8 | AVGO 2.45 2/15/2031 144A | 2.45% | 02/15/31 | 34 |
| 9 | ABBV 3.2 11/21/2029 | 3.20% | 11/21/29 | 33 |
| 10 | ABBV 4.25 11/21/2049 | 4.25% | 11/21/49 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/5/21 – 2/12/21 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 2/5/21 – 2/12/21
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