Investment Grade Corporate Bond Market Summary – Week Ending 3/5/21
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Investment Grade Corporate Bond Market Summary: Week Ending 3/5/21
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 2/26/21 – 3/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | 5.83% | 121.65 | 114.95 |
| 2 | IBM 7.125 12/1/2096 | 7.13% | 12/01/96 | 5.41% | 162.91 | 154.55 |
| 3 | ESICN 9.25 4/15/2024 144A | 9.25% | 04/15/24 | 4.98% | 78.58 | 74.86 |
| 4 | NRW 1.375 1/15/2120 | 1.38% | 01/15/20 | 4.37% | 113.01 | 108.27 |
| 5 | GATAIR 2.875 7/5/2049 | 2.88% | 07/05/49 | 4.34% | 94.51 | 90.57 |
| 6 | TRFRD 0.84713 7/28/2035 | 0.79% | 07/28/35 | 4.16% | 83.00 | 79.68 |
| 7 | HTHROW 2.75 8/9/2049 | 2.75% | 08/09/49 | 4.16% | 97.01 | 93.14 |
| 8 | LIVEWE 1.875 2/18/2056 | 1.88% | 02/18/56 | 4.10% | 96.18 | 92.40 |
| 9 | UNISOU 2.25 4/11/2057 | 2.25% | 04/11/57 | 3.95% | 103.94 | 99.99 |
| 10 | LANDLN 2.75 9/22/2057 | 2.75% | 09/22/57 | 3.85% | 109.47 | 105.41 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 2/26/21 – 3/5/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | YUNAEN 3.5 8/20/2023 | 3.50% | 08/20/23 | -14.47% | 78.69 | 92.00 |
| 2 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | -12.93% | 61.00 | 70.05 |
| 3 | PERU 6.7142 2/12/1955 | 6.71% | 02/12/55 | -7.66% | 108.00 | 116.96 |
| 4 | TUFTS 4.005 8/15/2057 | 4.01% | 08/15/57 | -6.36% | 110.25 | 117.74 |
| 5 | CQNANA 4.5 8/17/2026 | 4.50% | 08/17/26 | -6.15% | 94.49 | 100.68 |
| 6 | CVS 5.75 5/15/2041 | 5.75% | 05/15/41 | -6.11% | 121.74 | 129.66 |
| 7 | CQLGST 4.3 9/26/2024 | 4.30% | 09/26/24 | -5.66% | 93.14 | 98.73 |
| 8 | BLIV 4.823 1/29/2038 | 4.82% | 01/29/38 | -5.20% | 112.54 | 118.71 |
| 9 | SUCN 4.34 9/13/2046 | 4.34% | 09/13/46 | -5.14% | 103.00 | 108.58 |
| 10 | PPL 3.3 6/1/2050 | 3.30% | 06/01/50 | -4.39% | 98.27 | 102.78 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 2/26/21 – 3/5/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Capital Equipment | -79 bps | 0.29% | 1.08% |
| 2 | Metals & Mining | -26 bps | 5.45% | 5.72% |
| 3 | Hotel, Gaming & Leisure | -23 bps | 2.67% | 2.90% |
| 4 | Transportation: Cargo | -10 bps | 0.96% | 1.07% |
| 5 | Wholesale | -9 bps | 1.64% | 1.73% |
| 6 | Consumer Goods: Durable | -9 bps | 1.34% | 1.43% |
| 7 | Forest Products & Paper | -9 bps | 1.13% | 1.21% |
| 8 | Telecommunications | -8 bps | 1.05% | 1.12% |
| 9 | Services: Business | -7 bps | 0.79% | 0.86% |
| 10 | Consumer Goods: Non-Durable | -6 bps | 1.02% | 1.08% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 2/26/21 – 3/5/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Energy: Electricity | 147 bps | 0.87% | -0.60% |
| 2 | Sovereign & Public Finance | 71 bps | 1.37% | 0.66% |
| 3 | Environmental Industries | 21 bps | 1.08% | 0.87% |
| 4 | Banking | 15 bps | 1.29% | 1.14% |
| 5 | Real Estate | 11 bps | 1.67% | 1.56% |
| 6 | Utilities: Water | 11 bps | 1.11% | 1.00% |
| 7 | Utilities: Oil & Gas | 10 bps | 1.48% | 1.37% |
| 8 | Media: Advertising, Printing & Publishing | 10 bps | 0.55% | 0.45% |
| 9 | Insurance | 8 bps | 1.57% | 1.49% |
| 10 | Finance | 7 bps | 1.38% | 1.31% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 2/26/21 – 3/5/21 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 2/26/21 – 3/5/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/26/21 vs. the week ending 3/5/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | DAIGR 0.75 1/22/2024 | 0.75% | 01/22/24 | 46 | 143 | 97 | 211% |
| 2 | CCL 7.625 3/1/2026 REGS | 7.63% | 03/01/26 | 163 | 250 | 87 | 53% |
| 3 | HSBC 4.7 PERP | 4.70% | 06/08/99 | 40 | 114 | 74 | 185% |
| 4 | BNP 3.052 1/13/2031 REGS | 1.52% | 01/13/31 | 109 | 181 | 72 | 66% |
| 5 | FFHCN 4.625 4/29/2030 | 4.63% | 04/29/30 | 87 | 157 | 70 | 80% |
| 6 | CFG 5.5 PERP | 5.53% | 12/29/49 | 59 | 122 | 63 | 107% |
| 7 | KDP 4.42 12/15/2046 | 4.42% | 12/15/46 | 123 | 173 | 50 | 41% |
| 8 | KDP 4.5 11/15/2045 | 4.50% | 11/15/45 | 113 | 162 | 49 | 43% |
| 9 | DAEHIM 5.875 6/1/2025 144A | 5.88% | 06/01/25 | 17 | 66 | 49 | 288% |
| 10 | COMMONWEALTH BK AUSTRALIA | 0.89% | 03/16/23 | 14 | 60 | 46 | 329% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 2/26/21 – 3/5/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 39 |
| 2 | AAPL 1.2 2/8/2028 | 1.20% | 02/08/28 | 37 |
| 3 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 35 |
| 4 | XOM 2.61 10/15/2030 | 2.61% | 10/15/30 | 35 |
| 5 | BPLN 3.633 4/6/2030 | 3.63% | 04/06/30 | 35 |
| 6 | CVS 5.05 3/25/2048 | 5.05% | 03/25/48 | 35 |
| 7 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 34 |
| 8 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 34 |
| 9 | AAPL 2.65 2/8/2051 | 2.65% | 02/08/51 | 34 |
| 10 | XOM 2.992 3/19/2025 | 2.99% | 03/19/25 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 2/26/21 – 3/5/21 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 2/26/21 – 3/5/21
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