Investment Grade Corporate Bond Market Summary – Week Ending 4/16/21
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Investment Grade Corporate Bond Market Summary: Week Ending 4/16/21
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 4/9/21 – 4/16/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ROTH 0 PERP | 0.46% | 09/29/49 | 7.75% | 86.63 | 80.39 |
| 2 | INTULN 4.625 3/17/2028 | 4.63% | 03/17/28 | 7.17% | 63.23 | 59.00 |
| 3 | MASSIN 4.678 7/1/2014 | 4.68% | 07/01/14 | 5.29% | 139.18 | 132.19 |
| 4 | TELVIS 7.25 5/14/2043 | 7.25% | 05/14/43 | 4.93% | 76.35 | 72.76 |
| 5 | OCPMR 6.875 4/25/2044 | 6.88% | 04/25/44 | 4.19% | 121.45 | 116.57 |
| 6 | CNL 6 12/1/2040 | 6.00% | 12/01/40 | 4.00% | 133.66 | 128.52 |
| 7 | MARS 4.2 4/1/2059 144A | 4.20% | 04/01/59 | 3.85% | 120.17 | 115.72 |
| 8 | RUSSIA 5.25 6/23/2047 REGS | 5.25% | 06/23/47 | 3.60% | 123.39 | 119.10 |
| 9 | EDF 5.25 10/13/2055 | 5.25% | 10/13/55 | 3.57% | 128.48 | 124.05 |
| 10 | WBA 4.8 11/18/2044 | 4.80% | 11/18/44 | 3.36% | 116.70 | 112.91 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 4/9/21 – 4/16/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | HRINTH 0 7/3/2021 | 1.36% | 07/03/21 | -8.83% | 89.58 | 98.25 |
| 2 | QDHTCO 2.98 3/4/2024 | 2.98% | 03/04/24 | -4.16% | 93.31 | 97.36 |
| 3 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | -3.74% | 85.53 | 88.86 |
| 4 | CCAMCL 3 1/20/2031 | 3.00% | 01/20/31 | -3.43% | 91.92 | 95.18 |
| 5 | CLFTON 6.25 10/25/2025 REGS | 6.25% | 10/25/25 | -3.38% | 95.98 | 99.34 |
| 6 | GRWALL 3.875 8/31/2027 | 3.88% | 08/31/27 | -2.94% | 103.24 | 106.37 |
| 7 | SHIMAO 3.45 1/11/2031 | 3.45% | 01/11/31 | -2.63% | 94.31 | 96.85 |
| 8 | RAGB 0.85 6/30/2020 | 0.85% | 06/30/20 | -2.60% | 94.27 | 96.79 |
| 9 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -2.21% | 81.67 | 83.52 |
| 10 | TMO 1.875 10/1/2049 | 1.88% | 10/01/49 | -2.11% | 104.94 | 107.21 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 4/9/21 – 4/16/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | -39 bps | 0.93% | 1.32% |
| 2 | Media: Diversified & Production | -35 bps | 1.13% | 1.48% |
| 3 | Chemicals, Plastics & Rubber | -28 bps | 1.24% | 1.52% |
| 4 | Wholesale | -23 bps | 1.42% | 1.65% |
| 5 | Capital Equipment | -23 bps | 0.81% | 1.04% |
| 6 | Services: Consumer | -19 bps | 1.78% | 1.97% |
| 7 | Construction & Building | -17 bps | 1.17% | 1.35% |
| 8 | Energy: Oil & Gas | -10 bps | 1.67% | 1.77% |
| 9 | Consumer Goods: Non-Durable | -9 bps | 0.99% | 1.08% |
| 10 | Beverage, Food & Tobacco | -9 bps | 0.98% | 1.07% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 4/9/21 – 4/16/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 52 bps | 1.13% | 0.61% |
| 2 | Metals & Mining | 21 bps | 4.50% | 4.30% |
| 3 | Finance | 11 bps | 1.53% | 1.42% |
| 4 | Utilities: Water | 11 bps | 1.10% | 0.99% |
| 5 | Environmental Industries | 11 bps | 1.19% | 1.08% |
| 6 | Banking | 8 bps | 1.27% | 1.19% |
| 7 | Containers, Packaging, & Glass | 6 bps | 1.59% | 1.53% |
| 8 | Services: Business | 5 bps | 1.07% | 1.03% |
| 9 | Aerospace & Defense | 5 bps | 2.01% | 1.97% |
| 10 | Forest Products & Paper | 4 bps | 1.18% | 1.14% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 4/9/21 – 4/16/21 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 4/9/21 – 4/16/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/9/21 vs. the week ending 4/16/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | HRINTH 4 PERP | 4.00% | 11/07/99 | 127 | 243 | 116 | 91% |
| 2 | SANTAN 1.5 1/25/2026 | 1.50% | 01/25/26 | 40 | 105 | 65 | 163% |
| 3 | RABOBK 1.106 2/24/2027 144A | 1.11% | 02/24/27 | 70 | 134 | 64 | 91% |
| 4 | DUK 3.6 9/15/2047 | 3.60% | 09/15/47 | 109 | 169 | 60 | 55% |
| 5 | BRKHEC 4.3 1/15/2049 144A | 4.30% | 01/15/49 | 58 | 113 | 55 | 95% |
| 6 | EIX 4.125 3/1/2048 | 4.13% | 03/01/48 | 188 | 237 | 49 | 26% |
| 7 | DUK 4.2 8/15/2045 | 4.20% | 08/15/45 | 91 | 140 | 49 | 54% |
| 8 | EIX 3.6 2/1/2045 | 3.60% | 02/01/45 | 137 | 186 | 49 | 36% |
| 9 | ED 3.125 11/15/2027 | 3.13% | 11/15/27 | 71 | 119 | 48 | 68% |
| 10 | NGGLN 2.742 8/15/2026 | 2.74% | 08/15/26 | 81 | 128 | 47 | 58% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/9/21 – 4/16/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 39 |
| 2 | VZ 0 3/20/2026 | 1.45% | 03/20/26 | 39 |
| 3 | ORCL 1.65 3/25/2026 | 1.65% | 03/25/26 | 38 |
| 4 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 38 |
| 5 | ORCL 2.3 3/25/2028 | 2.30% | 03/25/28 | 37 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 7 | INTC 3.9 3/25/2030 | 3.90% | 03/25/30 | 35 |
| 8 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 35 |
| 9 | ORCL 3.6 4/1/2050 | 3.60% | 04/01/50 | 35 |
| 10 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 4/9/21 – 4/16/21 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 4/9/21 – 4/16/21
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