Investment Grade Corporate Bond Market Summary – Week Ending 5/21/21
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Investment Grade Corporate Bond Market Summary: Week Ending 5/21/21
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 5/14/21 – 5/21/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | YUNINV 6.25 3/5/2022 | 6.25% | 03/05/22 | 6.90% | 88.67 | 82.95 |
| 2 | GFSLN 1.875 5/24/2025 | 1.88% | 05/24/25 | 4.26% | 104.14 | 99.89 |
| 3 | GLJGR 1.5 10/5/2023 | 1.50% | 10/05/23 | 4.25% | 95.85 | 91.94 |
| 4 | T 3.5 9/15/2053 144A | 3.50% | 09/15/53 | 3.82% | 94.37 | 90.89 |
| 5 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | 3.55% | 65.34 | 63.10 |
| 6 | TWX 6.1 7/15/2040 | 6.10% | 07/15/40 | 3.07% | 120.75 | 117.15 |
| 7 | UNANA 5.6 10/15/2097 | 5.60% | 10/15/97 | 3.05% | 133.99 | 130.02 |
| 8 | WEC 4.25 6/1/2044 | 4.25% | 06/01/44 | 2.85% | 112.91 | 109.78 |
| 9 | NEUBER 4.875 4/15/2045 | 4.88% | 04/15/45 | 2.83% | 110.11 | 107.08 |
| 10 | AWLN 2.262 8/1/2045 | 2.26% | 08/01/45 | 2.67% | 183.39 | 178.63 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 5/14/21 – 5/21/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ULFP 1.75 7/1/2049 | 1.75% | 07/01/49 | -4.38% | 88.48 | 92.53 |
| 2 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | -4.10% | 84.03 | 87.62 |
| 3 | ENELGX 7.875 2/1/2027 | 7.88% | 02/01/27 | -3.31% | 122.30 | 126.48 |
| 4 | REPHUN 1.5 11/17/2050 | 1.50% | 11/17/50 | -3.29% | 89.32 | 92.36 |
| 5 | EFSF 1.375 5/31/2047 | 1.38% | 05/31/47 | -3.02% | 114.47 | 118.04 |
| 6 | PCG 3.75 8/15/2042 | 3.75% | 08/15/42 | -2.90% | 87.04 | 89.64 |
| 7 | WPG 5.95 8/15/2024 | 5.95% | 08/15/24 | -2.44% | 61.11 | 62.64 |
| 8 | CPPIBC 0.25 1/18/2041 | 0.25% | 01/18/41 | -2.30% | 88.94 | 91.03 |
| 9 | IFC 7.5 1/18/2028 | 7.50% | 01/18/28 | -2.29% | 103.08 | 105.49 |
| 10 | UNP 4.375 11/15/2065 | 4.38% | 11/15/65 | -2.25% | 111.38 | 113.94 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 5/14/21 – 5/21/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | -30 bps | 0.90% | 1.20% |
| 2 | Media: Advertising, Printing & Publishing | -24 bps | 0.52% | 0.76% |
| 3 | Insurance | -13 bps | 1.44% | 1.57% |
| 4 | Hotel, Gaming & Leisure | -12 bps | 2.89% | 3.01% |
| 5 | Chemicals, Plastics & Rubber | -9 bps | 1.26% | 1.34% |
| 6 | Beverage, Food & Tobacco | -8 bps | 0.98% | 1.06% |
| 7 | Retail | -5 bps | 1.42% | 1.47% |
| 8 | Telecommunications | -5 bps | 1.15% | 1.20% |
| 9 | Consumer Goods: Non-Durable | -4 bps | 1.16% | 1.20% |
| 10 | Construction & Building | -3 bps | 1.21% | 1.25% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 5/14/21 – 5/21/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 32 bps | 1.17% | 0.85% |
| 2 | Containers, Packaging, & Glass | 24 bps | 1.14% | 0.90% |
| 3 | Utilities: Oil & Gas | 16 bps | 1.43% | 1.27% |
| 4 | Environmental Industries | 13 bps | 1.14% | 1.02% |
| 5 | Utilities: Water | 11 bps | 1.15% | 1.04% |
| 6 | Capital Equipment | 10 bps | 1.07% | 0.97% |
| 7 | Banking | 9 bps | 1.43% | 1.34% |
| 8 | Metals & Mining | 8 bps | 1.66% | 1.58% |
| 9 | Energy: Electricity | 8 bps | 0.81% | 0.74% |
| 10 | Transportation: Cargo | 6 bps | 1.33% | 1.26% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 5/14/21 – 5/21/21 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 5/14/21 – 5/21/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 5/14/21 vs. the week ending 5/21/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | AWK 3.25 6/1/2051 | 3.25% | 06/01/51 | 157 | 280 | 123 | 78% |
| 2 | TSINGH 4.75 1/31/2021 | 4.75% | 01/31/21 | 60 | 168 | 108 | 180% |
| 3 | GE 0 9/1/2044 | 0.00% | 09/01/44 | 29 | 119 | 90 | 310% |
| 4 | VW 0 1/26/2024 | 0.66% | 01/26/24 | 61 | 140 | 79 | 130% |
| 5 | SDEXPR 2.437 11/19/2023 | 2.44% | 11/19/23 | 54 | 110 | 56 | 104% |
| 6 | PEMEX 0 3/11/2022 | 3.81% | 03/11/22 | 52 | 108 | 56 | 108% |
| 7 | SANDSS 3 6/18/2026 | 3.00% | 06/18/26 | 36 | 90 | 54 | 150% |
| 8 | MSI 3.5 3/1/2023 | 3.50% | 03/01/23 | 84 | 129 | 45 | 54% |
| 9 | QNBK 0 2/12/2022 | 1.24% | 02/12/22 | 36 | 80 | 44 | 122% |
| 10 | FABUH 0 4/16/2022 | 1.11% | 04/16/22 | 56 | 100 | 44 | 79% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 5/14/21 – 5/21/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 38 |
| 2 | T 2.3 6/1/2027 | 2.30% | 06/01/27 | 36 |
| 3 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 36 |
| 4 | AMZN 1.5 6/3/2030 | 1.50% | 06/03/30 | 35 |
| 5 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 35 |
| 6 | KMI 5.55 6/1/2045 | 5.55% | 06/01/45 | 35 |
| 7 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 35 |
| 8 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 34 |
| 9 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 34 |
| 10 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 5/14/21 – 5/21/21 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 5/14/21 – 5/21/21
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