Investment Grade Corporate Bond Market Summary – Week Ending 2/5/21
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Investment Grade Corporate Bond Market Summary: Week Ending 2/5/21
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 1/29/21 – 2/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | VAMASN 5.136 8/15/2044 | 5.14% | 08/15/44 | 5.84% | 120.05 | 113.42 |
| 2 | GMT 4.5 3/30/2045 | 4.50% | 03/30/45 | 5.84% | 120.32 | 113.68 |
| 3 | EBRD 31 3/1/2021 | 31.00% | 03/01/21 | 5.54% | 94.98 | 90.00 |
| 4 | LLCAU 3.9 4/27/2027 | 3.90% | 04/27/27 | 5.39% | 106.44 | 101.00 |
| 5 | SAVE 3.375 2/15/2030 | 3.38% | 02/15/30 | 5.09% | 99.36 | 94.55 |
| 6 | PEMEX 6.35 2/12/2048 | 6.35% | 02/12/48 | 4.74% | 88.52 | 84.52 |
| 7 | DORIC 5.25 5/30/2023 | 5.25% | 05/30/23 | 4.14% | 97.35 | 93.48 |
| 8 | UCGIM 3.875 PERP | 3.88% | PERP | 3.92% | 92.28 | 88.79 |
| 9 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | 3.63% | 72.48 | 69.94 |
| 10 | ATLIM 1.875 9/26/2029 | 1.88% | 09/26/29 | 3.60% | 102.55 | 98.99 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/29/21 – 2/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BJHAIG 4.3 10/8/2022 | 4.30% | 10/08/22 | -11.42% | 59.67 | 67.36 |
| 2 | INDTOL 5.183 7/15/2035 | 5.18% | 07/15/35 | -6.66% | 114.22 | 122.37 |
| 3 | NRW 1.375 1/15/2120 | 1.38% | 01/15/20 | -5.57% | 115.43 | 122.24 |
| 4 | AEGON 4.26 PERP | 4.26% | 03/04/68 | -5.38% | 84.28 | 89.07 |
| 5 | PERU 2.78 12/1/2060 | 2.78% | 12/01/60 | -5.02% | 92.13 | 97.00 |
| 6 | BEIPRO 5.95 2/27/2023 | 5.95% | 02/27/23 | -4.99% | 90.72 | 95.49 |
| 7 | SLOVGB 2.25 6/12/2068 | 2.25% | 06/12/68 | -4.63% | 163.37 | 171.30 |
| 8 | NATMUT 4.95 4/22/2044 | 4.95% | 04/22/44 | -4.46% | 112.54 | 117.79 |
| 9 | CRFUNI 3 12/7/2055 | 3.00% | 12/07/55 | -4.27% | 130.26 | 136.07 |
| 10 | PTTEPT 3.903 12/6/2059 144A | 3.90% | 12/06/59 | -4.23% | 107.77 | 112.54 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/29/21 – 2/5/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Capital Equipment | -142 bps | 0.23% | 1.65% |
| 2 | Energy: Electricity | -40 bps | -1.41% | -1.01% |
| 3 | Transportation: Consumer | -25 bps | 2.03% | 2.28% |
| 4 | Services: Consumer | -14 bps | 2.41% | 2.55% |
| 5 | Transportation: Cargo | -10 bps | 0.71% | 0.81% |
| 6 | Utilities: Electric | -7 bps | 1.02% | 1.09% |
| 7 | High Tech Industries | -6 bps | 0.37% | 0.43% |
| 8 | Insurance | -6 bps | 1.36% | 1.42% |
| 9 | Retail | -6 bps | 1.00% | 1.06% |
| 10 | Energy: Oil & Gas | -5 bps | 1.42% | 1.47% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/29/21 – 2/5/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 47 bps | 0.87% | 0.40% |
| 2 | Metals & Mining | 47 bps | 7.30% | 6.83% |
| 3 | Services: Business | 26 bps | 0.95% | 0.69% |
| 4 | Environmental Industries | 25 bps | 0.84% | 0.59% |
| 5 | Utilities: Water | 19 bps | 0.86% | 0.66% |
| 6 | Real Estate | 13 bps | 1.48% | 1.35% |
| 7 | Finance | 12 bps | 1.26% | 1.13% |
| 8 | Media: Broadcasting & Subscription | 8 bps | 1.13% | 1.05% |
| 9 | Banking | 7 bps | 1.07% | 1.00% |
| 10 | Containers, Packaging, & Glass | 7 bps | 0.71% | 0.64% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 1/29/21 – 2/5/21 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 1/29/21 – 2/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/29/21 vs. the week ending 2/5/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | CTL 4 2/15/2027 | 4.00% | 02/15/27 | 46 | 134 | 88 | 191% |
| 2 | ENELIM 1 10/20/2027 | 1.00% | 10/20/27 | 38 | 102 | 64 | 168% |
| 3 | HRINTH 5.5 4/27/2047 | 5.50% | 04/27/47 | 72 | 130 | 58 | 81% |
| 4 | GRYOAK 3.45 10/15/2027 144A | 3.45% | 10/15/27 | 38 | 94 | 56 | 147% |
| 5 | PENSKE 3.3 4/1/2021 | 3.30% | 04/01/21 | 80 | 130 | 50 | 63% |
| 6 | WMT 5.25 9/28/2035 | 5.25% | 09/28/35 | 70 | 120 | 50 | 71% |
| 7 | NGGLN 1.125 1/14/2033 | 1.13% | 01/14/33 | 31 | 80 | 49 | 158% |
| 8 | AVOL 2.75 2/21/2028 REGS | 2.75% | 02/21/28 | 101 | 149 | 48 | 48% |
| 9 | VW 0.875 2/20/2025 | 0.88% | 02/20/25 | 18 | 65 | 47 | 261% |
| 10 | EOANGR 0.1 12/19/2028 | 0.10% | 12/19/28 | 91 | 137 | 46 | 51% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 1/29/21 – 2/5/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 37 |
| 2 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 37 |
| 3 | XOM 3.482 3/19/2030 | 3.48% | 03/19/30 | 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 | 33 |
| 6 | TOTAL 2.829 1/10/2030 | 2.83% | 01/10/30 | 33 |
| 7 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 33 |
| 8 | BABA 3.4 12/6/2027 | 3.40% | 12/06/27 | 33 |
| 9 | ABBV 4.25 11/21/2049 | 4.25% | 11/21/49 | 33 |
| 10 | AVGO 2.45 2/15/2031 144A | 2.45% | 02/15/31 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 1/29/21 – 2/5/21 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 1/29/21 – 2/5/21
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