Investment Grade Corporate Bond Market Summary – Week Ending 2/19/21
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Investment Grade Corporate Bond Market Summary: Week Ending 2/19/21
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 2/12/21 – 2/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | EBIUH 4.62 5/16/2039 | 4.62% | 05/16/39 | 14.16% | 115.29 | 101.00 |
| 2 | BJHAIG 4.3 10/8/2022 | 4.30% | 10/08/22 | 12.92% | 65.85 | 58.31 |
| 3 | ENBL 4.15 9/15/2029 | 4.15% | 09/15/29 | 6.79% | 106.79 | 100.01 |
| 4 | ERAFP 5.875 5/21/2025 | 5.88% | 05/21/25 | 4.15% | 98.80 | 94.87 |
| 5 | GLJGR 1.423 5/15/2025 | 1.42% | 05/15/25 | 3.96% | 79.75 | 76.71 |
| 6 | FE 6.15 10/1/2038 | 6.15% | 10/01/38 | 3.90% | 126.79 | 122.03 |
| 7 | ESICN 9.25 4/15/2024 144A | 9.25% | 04/15/24 | 3.17% | 73.66 | 71.40 |
| 8 | GGICS 9.5 12/18/2032 REGS | 9.50% | 12/18/32 | 2.46% | 78.73 | 76.84 |
| 9 | BURLN 5 12/1/2026 | 5.00% | 12/01/26 | 2.45% | 94.89 | 92.62 |
| 10 | FFHCN 7.75 7/15/2037 | 7.75% | 07/15/37 | 2.20% | 131.71 | 128.88 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 2/12/21 – 2/19/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | -15.78% | 62.30 | 73.98 |
| 2 | SLOVGB 2.25 6/12/2068 | 2.25% | 06/12/68 | -5.84% | 151.50 | 160.91 |
| 3 | SLOREP 0.4875 10/20/2050 | 0.49% | 10/20/50 | -5.14% | 93.67 | 98.75 |
| 4 | SOGRPR 1 2/18/2070 | 1.00% | 02/18/70 | -4.78% | 99.51 | 104.50 |
| 5 | GRWASH 3.545 9/15/2046 | 3.55% | 09/15/46 | -4.38% | 106.22 | 111.08 |
| 6 | PRUFIN 6.25 10/20/2068 | 6.25% | 10/20/68 | -4.37% | 129.52 | 135.44 |
| 7 | EU 0.3 11/4/2050 | 0.30% | 11/04/50 | -4.20% | 95.43 | 99.61 |
| 8 | ROMGB 4.75 10/11/2034 | 4.75% | 10/11/34 | -4.11% | 109.35 | 114.04 |
| 9 | PERU 2.78 12/1/2060 | 2.78% | 12/01/60 | -3.99% | 88.09 | 91.75 |
| 10 | WILDLF 3.414 8/1/2050 | 3.41% | 08/01/50 | -3.95% | 98.03 | 102.07 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 2/12/21 – 2/19/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | -165 bps | -1.03% | 0.63% |
| 2 | Metals & Mining | -78 bps | 6.24% | 7.02% |
| 3 | High Tech Industries | -44 bps | 0.47% | 0.91% |
| 4 | Transportation: Cargo | -41 bps | 0.80% | 1.20% |
| 5 | Aerospace & Defense | -37 bps | 1.46% | 1.83% |
| 6 | Capital Equipment | -32 bps | 0.30% | 0.62% |
| 7 | Media: Diversified & Production | -32 bps | 0.88% | 1.20% |
| 8 | Construction & Building | -23 bps | 0.59% | 0.81% |
| 9 | Healthcare & Pharmaceuticals | -22 bps | 0.51% | 0.73% |
| 10 | Hotel, Gaming & Leisure | -18 bps | 2.73% | 2.90% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 2/12/21 – 2/19/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Wholesale | 70 bps | 1.66% | 0.95% |
| 2 | Sovereign & Public Finance | 57 bps | 1.01% | 0.43% |
| 3 | Utilities: Water | 34 bps | 1.01% | 0.67% |
| 4 | Environmental Industries | 33 bps | 0.97% | 0.63% |
| 5 | Services: Consumer | 27 bps | 2.76% | 2.49% |
| 6 | Real Estate | 24 bps | 1.49% | 1.25% |
| 7 | Chemicals, Plastics & Rubber | 21 bps | 1.18% | 0.97% |
| 8 | Utilities: Oil & Gas | 20 bps | 1.34% | 1.14% |
| 9 | Consumer Goods: Durable | 20 bps | 1.44% | 1.24% |
| 10 | Media: Broadcasting & Subscription | 17 bps | 1.26% | 1.09% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/12/21 – 2/19/21 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 2/12/21 – 2/19/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/12/21 vs. the week ending 2/19/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 182 | 283 | 101 | 55% |
| 2 | EXOIM 0.875 1/19/2031 | 0.88% | 01/19/31 | 58 | 147 | 89 | 153% |
| 3 | COP 4.3 8/15/2028 144A | 4.30% | 08/15/28 | 89 | 169 | 80 | 90% |
| 4 | COP 3.75 10/1/2027 144A | 3.75% | 10/01/27 | 86 | 160 | 74 | 86% |
| 5 | FLUVIU 0.25 12/2/2030 | 0.25% | 12/02/30 | 56 | 127 | 71 | 127% |
| 6 | FIREIT 0.579 1/29/2031 | 0.58% | 01/29/31 | 52 | 122 | 70 | 135% |
| 7 | NATUEN 0.905 1/22/2031 | 0.91% | 01/22/31 | 53 | 122 | 69 | 130% |
| 8 | ESSITY 0.25 2/8/2031 | 0.25% | 02/08/31 | 75 | 129 | 54 | 72% |
| 9 | NSANY 3.201 9/17/2028 144A | 3.20% | 09/17/28 | 38 | 90 | 52 | 137% |
| 10 | GLJGR 1.125 2/2/2022 | 1.13% | 02/02/22 | 117 | 167 | 50 | 43% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/12/21 – 2/19/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 38 |
| 2 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 36 |
| 3 | AAPL 1.2 2/8/2028 | 1.20% | 02/08/28 | 36 |
| 4 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 35 |
| 5 | INTC 3.9 3/25/2030 | 3.90% | 03/25/30 | 35 |
| 6 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 35 |
| 7 | BMO 1.85 5/1/2025 | 1.85% | 05/01/25 | 35 |
| 8 | AVGO 2.45 2/15/2031 144A | 2.45% | 02/15/31 | 34 |
| 9 | GM 1.25 1/8/2026 | 1.25% | 01/08/26 | 34 |
| 10 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/12/21 – 2/19/21 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 2/12/21 – 2/19/21
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