Investment Grade Corporate Bond Market Summary – Week Ending 2/18/22
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Investment Grade Corporate Bond Market Summary: Week Ending 2/18/22
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 2/11/22 – 2/18/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | DB 1.875 12/22/2028 | 1.88% | 12/22/28 | 6.05% | 98.34 | 92.72 |
| 2 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | 5.67% | 105.28 | 99.64 |
| 3 | SO 4.75 10/15/2041 | 4.75% | 10/15/41 | 5.42% | 112.26 | 106.49 |
| 4 | CPPIBC 1.625 10/22/2071 | 1.63% | 10/22/71 | 4.83% | 90.52 | 86.35 |
| 5 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | 4.29% | 119.01 | 114.11 |
| 6 | FSHPHO 1.875 7/14/2061 | 1.88% | 07/14/61 | 3.94% | 84.19 | 81.00 |
| 7 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | 3.92% | 83.33 | 80.18 |
| 8 | UNCOLO 1.625 6/4/2061 | 1.63% | 06/04/61 | 3.70% | 87.52 | 84.39 |
| 9 | UKMBAS 1.625 8/26/2060 | 1.63% | 08/26/60 | 3.68% | 87.70 | 84.60 |
| 10 | DBHNGR 4.5 11/29/2072 | 4.50% | 11/29/72 | 3.67% | 162.64 | 156.88 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 2/11/22 – 2/18/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -7.98% | 64.40 | 69.98 |
| 2 | WEC 0 5/15/2067 | 2.51% | 05/15/67 | -6.47% | 81.88 | 87.54 |
| 3 | BAYLOR 5.259 11/15/2046 | 5.26% | 11/15/46 | -6.37% | 119.09 | 127.19 |
| 4 | MXCHF 6.75 9/19/2042 | 6.75% | 09/19/42 | -5.49% | 114.64 | 121.30 |
| 5 | USB 0 PERP | 3.50% | 10/29/49 | -5.06% | 84.83 | 89.35 |
| 6 | MO 6.2 2/14/2059 | 6.20% | 02/14/59 | -4.84% | 111.51 | 117.18 |
| 7 | ACAFP 0.5 10/1/2026 | 0.50% | 10/01/26 | -4.72% | 94.11 | 98.77 |
| 8 | MUFG 4.7 3/10/2044 | 4.70% | 03/10/44 | -4.70% | 119.87 | 125.78 |
| 9 | COGARD 3.3 1/12/2031 | 3.30% | 01/12/31 | -4.61% | 74.34 | 77.93 |
| 10 | NRW 0.5 1/15/2052 | 0.50% | 01/15/52 | -4.52% | 85.58 | 89.63 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 2/11/22 – 2/18/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | -23 bps | 1.56% | 1.79% |
| 2 | Consumer Goods: Non-Durable | -22 bps | 1.84% | 2.07% |
| 3 | Construction & Building | -17 bps | 1.95% | 2.12% |
| 4 | High Tech Industries | -14 bps | 2.33% | 2.48% |
| 5 | Capital Equipment | -12 bps | 1.92% | 2.05% |
| 6 | Beverage, Food & Tobacco | -12 bps | 2.12% | 2.24% |
| 7 | Chemicals, Plastics & Rubber | -11 bps | 2.23% | 2.34% |
| 8 | Finance | -11 bps | 2.42% | 2.53% |
| 9 | Transportation: Cargo | -11 bps | 2.49% | 2.60% |
| 10 | Media: Broadcasting & Subscription | -9 bps | 2.43% | 2.52% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 2/11/22 – 2/18/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Forest Products & Paper | 59 bps | 2.28% | 1.69% |
| 2 | Services: Business | 34 bps | 2.40% | 2.06% |
| 3 | Sovereign & Public Finance | 23 bps | 2.16% | 1.93% |
| 4 | Utilities: Water | 16 bps | 1.96% | 1.80% |
| 5 | Aerospace & Defense | 14 bps | 2.70% | 2.56% |
| 6 | Hotel, Gaming & Leisure | 14 bps | 3.12% | 2.98% |
| 7 | Containers, Packaging, & Glass | 12 bps | 2.50% | 2.37% |
| 8 | Services: Consumer | 11 bps | 3.20% | 3.10% |
| 9 | Energy: Electricity | 10 bps | 1.82% | 1.72% |
| 10 | Utilities: Oil & Gas | 8 bps | 2.72% | 2.65% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/11/22 – 2/18/22 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 2/11/22 – 2/18/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/11/22 vs. the week ending 2/18/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CCAMCL 3.25 1/28/2027 | 3.25% | 01/28/27 | 40 | 133 | 93 | 233% |
| 2 | KMI 3.5 2/15/2032 | 3.50% | 02/15/32 | 22 | 115 | 93 | 423% |
| 3 | VW 0.875 1/31/2028 | 0.88% | 01/31/28 | 39 | 126 | 87 | 223% |
| 4 | VW 0.25 1/31/2025 | 0.25% | 01/31/25 | 33 | 99 | 66 | 200% |
| 5 | NEU 4.1 12/15/2022 | 4.10% | 12/15/22 | 50 | 102 | 52 | 104% |
| 6 | CNP 0 3/2/2023 | 1.70% | 02/02/31 | 39 | 89 | 50 | 128% |
| 7 | ACGCAP 1.95 9/20/2026 144A | 1.95% | 09/20/26 | 121 | 164 | 43 | 36% |
| 8 | ESGR 4.5 3/10/2022 | 4.50% | 03/10/22 | 18 | 60 | 42 | 233% |
| 9 | CCEP 0.5 5/5/2023 REGS | 0.50% | 05/05/23 | 5 | 45 | 40 | 800% |
| 10 | BAC 2.551 2/4/2028 | 2.55% | 02/04/28 | 244 | 283 | 39 | 16% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/11/22 – 2/18/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 41 |
| 2 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 39 |
| 3 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 38 |
| 4 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 37 |
| 5 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
| 6 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 36 |
| 7 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 8 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 36 |
| 9 | AMZN 2.5 6/3/2050 | 2.50% | 06/03/50 | 35 |
| 10 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/11/22 – 2/18/22 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 2/11/22 – 2/18/22
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