Investment Grade Corporate Bond Market Summary – Week Ending 5/14/21
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Investment Grade Corporate Bond Market Summary: Week Ending 5/14/21
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 5/7/21 – 5/14/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | AIG 8.125 3/15/2046 | 8.13% | 03/15/46 | 10.44% | 159.64 | 144.55 |
| 2 | NTRCN 5.875 12/1/2036 | 5.88% | 12/01/36 | 5.09% | 132.26 | 125.85 |
| 3 | MTB 0 7/26/2023 | 0.84% | 07/26/23 | 3.90% | 100.53 | 96.76 |
| 4 | PERU 6.7142 2/12/1955 | 6.71% | 02/12/55 | 3.28% | 107.22 | 103.82 |
| 5 | WFC 0 10/22/2021 | 0.67% | 10/22/21 | 2.88% | 100.16 | 97.36 |
| 6 | SANTAN 4.75 10/19/2026 | 4.75% | 10/19/26 | 2.85% | 111.82 | 108.71 |
| 7 | BAYNGR 3.6 7/15/2042 144A | 3.60% | 07/15/42 | 2.64% | 94.90 | 92.46 |
| 8 | ZYAMCL 4.2 11/29/2022 | 4.20% | 11/29/22 | 2.46% | 72.28 | 70.55 |
| 9 | LGEN 5.75 4/20/2033 | 5.75% | 04/20/33 | 2.30% | 137.26 | 134.17 |
| 10 | CCAMCL 4.75 12/4/2037 | 4.75% | 12/04/37 | 2.11% | 102.00 | 99.89 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 5/7/21 – 5/14/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | UFS 6.75 2/15/2044 | 6.75% | 02/15/44 | -13.34% | 106.15 | 122.49 |
| 2 | RAGB 0.85 6/30/2020 | 0.85% | 06/30/20 | -6.51% | 83.52 | 89.34 |
| 3 | HRINTH 4.25 PERP | 4.25% | 09/30/99 | -5.86% | 52.23 | 55.48 |
| 4 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -4.65% | 76.44 | 80.17 |
| 5 | SPGI 2.3 8/15/2060 | 2.30% | 08/15/60 | -4.52% | 79.54 | 83.31 |
| 6 | HGB 3 4/25/2041 | 3.00% | 04/25/41 | -4.47% | 90.51 | 94.74 |
| 7 | VMC 7.15 11/30/2037 | 7.15% | 11/30/37 | -4.33% | 135.04 | 141.15 |
| 8 | LIN 2 8/10/2050 | 2.00% | 08/10/50 | -4.24% | 79.55 | 83.07 |
| 9 | UNP 3.799 4/6/2071 REGS | 3.80% | 04/06/71 | -4.08% | 101.21 | 105.51 |
| 10 | TENCNT 3.29 6/3/2060 144A | 3.29% | 06/03/60 | -4.00% | 88.43 | 92.11 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 5/7/21 – 5/14/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Hotel, Gaming & Leisure | -19 bps | 2.79% | 2.97% |
| 2 | Transportation: Cargo | -18 bps | 1.19% | 1.38% |
| 3 | Construction & Building | -13 bps | 1.17% | 1.30% |
| 4 | Beverage, Food & Tobacco | -4 bps | 1.00% | 1.04% |
| 5 | Energy: Electricity | -2 bps | 0.67% | 0.70% |
| 6 | High Tech Industries | -1 bps | 1.24% | 1.25% |
| 7 | Utilities: Electric | -1 bps | 1.19% | 1.20% |
| 8 | Media: Advertising, Printing & Publishing | -1 bps | 0.77% | 0.78% |
| 9 | Transportation: Consumer | 0 bps | 2.07% | 2.07% |
| 10 | Telecommunications | 0 bps | 1.13% | 1.13% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 5/7/21 – 5/14/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 35 bps | 1.14% | 0.79% |
| 2 | Consumer Goods: Durable | 28 bps | 1.47% | 1.19% |
| 3 | Environmental Industries | 27 bps | 1.24% | 0.97% |
| 4 | Utilities: Water | 19 bps | 1.16% | 0.97% |
| 5 | Real Estate | 13 bps | 1.61% | 1.47% |
| 6 | Utilities: Oil & Gas | 11 bps | 1.35% | 1.24% |
| 7 | Finance | 11 bps | 1.47% | 1.36% |
| 8 | Banking | 9 bps | 1.31% | 1.22% |
| 9 | Retail | 9 bps | 1.49% | 1.40% |
| 10 | Services: Business | 8 bps | 1.08% | 0.99% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 5/7/21 – 5/14/21 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 5/7/21 – 5/14/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 5/7/21 vs. the week ending 5/14/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | JPM 3.65 7/14/2037 | 3.65% | 07/14/37 | 24 | 102 | 78 | 325% |
| 2 | NWG 0.8 3/28/2024 | 0.80% | 03/28/24 | 12 | 81 | 69 | 575% |
| 3 | IFF 0.697 9/15/2022 144A | 0.70% | 09/15/22 | 36 | 100 | 64 | 178% |
| 4 | MS 0.406 10/29/2027 | 0.41% | 10/29/27 | 139 | 203 | 64 | 46% |
| 5 | AMZN 1.2 6/3/2027 | 1.20% | 06/03/27 | 269 | 328 | 59 | 22% |
| 6 | IFF 0.697 9/15/2022 REGS | 0.70% | 09/15/22 | 24 | 80 | 56 | 233% |
| 7 | AMZN 4.8 12/5/2034 | 4.80% | 12/05/34 | 166 | 218 | 52 | 31% |
| 8 | PERTIJ 3.1 1/21/2030 REGS | 3.10% | 01/21/30 | 156 | 205 | 49 | 31% |
| 9 | AMZN 4.95 12/5/2044 | 4.95% | 12/05/44 | 203 | 252 | 49 | 24% |
| 10 | KNIGHT 4.813 9/1/2048 | 4.81% | 09/01/48 | 43 | 88 | 45 | 105% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 5/7/21 – 5/14/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 2 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 37 |
| 3 | BAC 2.687 4/22/2032 | 2.69% | 04/22/32 | 36 |
| 4 | JPM 2.58 4/22/2032 | 2.58% | 04/22/32 | 36 |
| 5 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 6 | AMZN 1.2 6/3/2027 | 1.20% | 06/03/27 | 36 |
| 7 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 35 |
| 8 | ABBV 3.2 11/21/2029 | 3.20% | 11/21/29 | 35 |
| 9 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 35 |
| 10 | GM 2.35 1/8/2031 | 2.35% | 01/08/31 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 5/7/21 – 5/14/21 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 5/7/21 – 5/14/21
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