Investment Grade Corporate Bond Market Summary – Week Ending 4/30/21
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Investment Grade Corporate Bond Market Summary: Week Ending 4/30/21
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 4/23/21 – 4/30/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | BDVC 4.85 12/15/2024 144A | 4.85% | 12/15/24 | 4.54% | 106.03 | 101.43 |
| 2 | WFC 7.95 11/15/2029 | 7.95% | 11/15/29 | 4.46% | 135.52 | 129.74 |
| 3 | IAGLN 8.375 11/15/2028 144A | 8.38% | 11/15/28 | 4.17% | 114.43 | 109.85 |
| 4 | ZYAMCL 4.2 11/29/2022 | 4.20% | 11/29/22 | 3.65% | 69.30 | 66.86 |
| 5 | PERU 2.78 12/1/2060 | 2.78% | 12/01/60 | 3.58% | 84.74 | 81.81 |
| 6 | VER 2.85 12/15/2032 | 2.85% | 12/15/32 | 3.52% | 102.81 | 99.32 |
| 7 | MMBFP 2.125 10/16/2026 | 2.13% | 10/16/26 | 3.35% | 98.40 | 95.21 |
| 8 | GLJGR 1.5 10/5/2023 | 1.50% | 10/05/23 | 3.21% | 89.83 | 87.04 |
| 9 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | 3.21% | 83.03 | 80.45 |
| 10 | CLFTON 6.25 10/25/2025 REGS | 6.25% | 10/25/25 | 2.91% | 98.87 | 96.08 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 4/23/21 – 4/30/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | HRINTH 5.5 4/27/2047 | 5.50% | 04/27/47 | -7.23% | 70.20 | 75.67 |
| 2 | GWFOOD 3.258 10/29/2030 | 3.26% | 10/29/30 | -5.59% | 83.31 | 88.25 |
| 3 | ED 5.7 2/1/2034 | 5.70% | 02/01/34 | -4.35% | 122.15 | 127.71 |
| 4 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -4.07% | 81.06 | 84.50 |
| 5 | WALLOO 1.25 6/22/2071 | 1.25% | 06/22/71 | -3.88% | 93.05 | 96.81 |
| 6 | GARUDA 5.95 6/3/2023 | 5.95% | 06/03/23 | -3.87% | 83.63 | 87.00 |
| 7 | MDT 1.625 10/15/2050 | 1.63% | 10/15/50 | -3.73% | 99.34 | 103.19 |
| 8 | RAGB 2.1 9/20/2017 | 2.10% | 09/20/17 | -3.68% | 165.34 | 171.66 |
| 9 | AESGEN 4.56 4/30/2025 | 4.56% | 04/30/25 | -3.49% | 79.81 | 82.69 |
| 10 | BTPCL 5 3/1/2035 | 5.00% | 03/01/35 | -3.13% | 107.91 | 111.40 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 4/23/21 – 4/30/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | -33 bps | 1.70% | 2.03% |
| 2 | Energy: Electricity | -27 bps | 0.73% | 1.00% |
| 3 | Media: Diversified & Production | -20 bps | 1.20% | 1.40% |
| 4 | Wholesale | -20 bps | 1.53% | 1.73% |
| 5 | Hotel, Gaming & Leisure | -15 bps | 2.78% | 2.93% |
| 6 | Transportation: Consumer | -12 bps | 2.06% | 2.18% |
| 7 | Consumer Goods: Non-Durable | -6 bps | 1.08% | 1.14% |
| 8 | Consumer Goods: Durable | -6 bps | 1.19% | 1.25% |
| 9 | Construction & Building | -6 bps | 1.24% | 1.30% |
| 10 | Media: Advertising, Printing & Publishing | -4 bps | 0.76% | 0.80% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 4/23/21 – 4/30/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 45 bps | 1.16% | 0.71% |
| 2 | Environmental Industries | 22 bps | 1.23% | 1.01% |
| 3 | Chemicals, Plastics & Rubber | 15 bps | 1.43% | 1.28% |
| 4 | Aerospace & Defense | 14 bps | 2.01% | 1.87% |
| 5 | Transportation: Cargo | 13 bps | 1.36% | 1.22% |
| 6 | Containers, Packaging, & Glass | 12 bps | 1.00% | 0.88% |
| 7 | Banking | 12 bps | 1.34% | 1.22% |
| 8 | Utilities: Oil & Gas | 10 bps | 1.43% | 1.34% |
| 9 | Utilities: Water | 9 bps | 1.10% | 1.01% |
| 10 | Forest Products & Paper | 8 bps | 1.17% | 1.09% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 4/23/21 – 4/30/21 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 4/23/21 – 4/30/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/23/21 vs. the week ending 4/30/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | TOYOTA 1.9 4/6/2028 | 1.90% | 04/06/28 | 37 | 226 | 189 | 511% |
| 2 | UBS 0.01 3/31/2026 | 0.01% | 03/31/26 | 29 | 180 | 151 | 521% |
| 3 | TOYOTA 0.4 4/6/2023 | 0.40% | 04/06/23 | 31 | 165 | 134 | 432% |
| 4 | CKHH 1.5 4/15/2026 REGS | 1.50% | 04/15/26 | 105 | 172 | 67 | 64% |
| 5 | VTRS 2.7 6/22/2030 144A | 2.70% | 06/22/30 | 150 | 214 | 64 | 43% |
| 6 | PRINCIPAL LIFE GLOBAL FDG II | 0.75% | 04/12/24 | 14 | 75 | 61 | 436% |
| 7 | VZ 0 3/22/2024 | 0.75% | 03/22/24 | 202 | 248 | 46 | 23% |
| 8 | GS 0 3/8/2024 | 0.59% | 03/08/24 | 104 | 148 | 44 | 42% |
| 9 | CCE 1.5 11/8/2027 | 1.50% | 11/08/27 | 157 | 200 | 43 | 27% |
| 10 | BATSLN 3.984 9/25/2050 | 3.98% | 09/25/50 | 224 | 264 | 40 | 18% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/23/21 – 4/30/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | HRINTH 5.5 1/16/2025 | 5.50% | 01/16/25 | 38 |
| 2 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 38 |
| 3 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 37 |
| 4 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 5 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 36 |
| 6 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 36 |
| 7 | HRINTH 3.625 9/30/2030 | 3.63% | 09/30/30 | 36 |
| 8 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 9 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 36 |
| 10 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 4/23/21 – 4/30/21 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 4/23/21 – 4/30/21
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