Investment Grade Corporate Bond Market Summary – Week Ending 6/17/22
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Investment Grade Corporate Bond Market Summary: Week Ending 6/17/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
IG Corp bond new issues for the week ending 6/17/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
|---|---|---|---|---|---|
| Altair Engineering Inc. (USD) 1.75% 6/15/2027 | N/A | 200 | 100 | N/A | N/A |
| Societe Generale SA (USD) 4.351% 6/13/2025 | N/A | 600 | 100 | 4.35 | 140 |
| Citigroup Global Markets (USD) 1.526% 7/10/2023 | Senior Notes | 250 | 100 | 1.53 | N/A |
| CPPIB Capital Inc (USD) 3.25% 6/15/2027 | N/A | 1500 | 99.739 | 3.31 | 31 |
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 6/10/22 – 6/17/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GAZPRU 2.25 7/19/2022 | 2.25% | 07/19/22 | 13.25% | 81.38 | 71.86 |
| 2 | ORPFP 2.625 3/10/2025 | 2.63% | 03/10/25 | 9.41% | 68.98 | 63.05 |
| 3 | SRENVX 4.25 12/6/2042 | 4.25% | 12/06/42 | 7.28% | 105.77 | 98.60 |
| 4 | COLLIN 0 11/23/2023 | 4.47% | 11/23/23 | 3.81% | 94.50 | 91.03 |
| 5 | LUKOIL 3.6 10/26/2031 REGS | 3.60% | 10/26/31 | 3.71% | 50.27 | 48.48 |
| 6 | MRWLN 4.75 7/4/2029 | 4.75% | 07/04/29 | 3.13% | 98.22 | 95.25 |
| 7 | ADJGR 1.5 7/26/2024 | 1.50% | 07/26/24 | 3.12% | 66.40 | 64.39 |
| 8 | VLVY 0 2/22/2024 | 0.00% | 02/22/24 | 2.56% | 99.18 | 96.70 |
| 9 | CE 1.4 8/5/2026 | 1.40% | 08/05/26 | 2.07% | 89.46 | 87.65 |
| 10 | COGARD 4.75 7/25/2022 | 4.75% | 07/25/22 | 1.92% | 99.06 | 97.19 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 6/10/22 – 6/17/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | SINOCE 5.95 2/4/2027 | 5.95% | 02/04/27 | -20.55% | 53.22 | 66.99 |
| 2 | RWT 7.75 6/15/2027 | 7.75% | 06/15/27 | -14.92% | 83.07 | 97.63 |
| 3 | ENAPAN 4 5/19/2048 REGS | 4.00% | 05/19/48 | -14.53% | 73.04 | 85.45 |
| 4 | ROMANI 3.375 1/28/2050 144A | 3.38% | 01/28/50 | -12.49% | 60.90 | 69.59 |
| 5 | HGB 4 4/28/2051 | 4.00% | 04/28/51 | -11.99% | 52.71 | 59.89 |
| 6 | DBHNGR 0.625 12/8/2050 | 0.63% | 12/08/50 | -11.82% | 50.00 | 56.70 |
| 7 | AIA 4.47 5/23/2047 | 4.47% | 05/23/47 | -10.80% | 80.96 | 90.75 |
| 8 | RTEFRA 1.125 9/9/2049 | 1.13% | 09/09/49 | -10.32% | 55.80 | 62.22 |
| 9 | NGGLN 0.872 11/26/2040 | 0.87% | 11/26/40 | -10.31% | 56.79 | 63.32 |
| 10 | VW 1.5 1/21/2041 | 1.50% | 01/21/41 | -10.12% | 63.27 | 70.39 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 6/10/22 – 6/17/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Cargo | -106 bps | 4.55% | 5.61% |
| 2 | Healthcare & Pharmaceuticals | 25 bps | 4.03% | 3.78% |
| 3 | Chemicals, Plastics & Rubber | 26 bps | 4.61% | 4.35% |
| 4 | Energy: Oil & Gas | 27 bps | 4.82% | 4.55% |
| 5 | Capital Equipment | 34 bps | 3.91% | 3.57% |
| 6 | Media: Broadcasting & Subscription | 34 bps | 4.32% | 3.98% |
| 7 | Environmental Industries | 36 bps | 4.20% | 3.84% |
| 8 | Consumer Goods: Durable | 37 bps | 3.76% | 3.39% |
| 9 | Utilities: Electric | 37 bps | 4.38% | 4.02% |
| 10 | Media: Diversified & Production | 37 bps | 4.41% | 4.04% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 6/10/22 – 6/17/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Hotel, Gaming & Leisure | 79 bps | 5.23% | 4.43% |
| 2 | Sovereign & Public Finance | 79 bps | 4.49% | 3.70% |
| 3 | Utilities: Oil & Gas | 71 bps | 5.11% | 4.40% |
| 4 | Metals & Mining | 69 bps | 4.96% | 4.27% |
| 5 | Telecommunications | 65 bps | 5.62% | 4.98% |
| 6 | Real Estate | 64 bps | 5.54% | 4.91% |
| 7 | Insurance | 61 bps | 4.69% | 4.08% |
| 8 | Construction & Building | 59 bps | 4.33% | 3.74% |
| 9 | Containers, Packaging, & Glass | 57 bps | 4.50% | 3.94% |
| 10 | Energy: Electricity | 55 bps | 3.88% | 3.33% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/10/22 – 6/17/22 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 6/10/22 – 6/17/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/10/22 vs. the week ending 6/17/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | GM 5 3/20/2027 | 5.00% | 03/20/27 | 49 | 127 | 78 | 159% |
| 2 | ENELIM 1.375 PERP | 1.38% | 03/08/99 | 107 | 180 | 73 | 68% |
| 3 | GDCOMM 2.358 1/25/2027 | 2.36% | 01/25/27 | 69 | 125 | 56 | 81% |
| 4 | ONCRTX 4.6 6/1/2052 144A | 4.60% | 06/01/52 | 208 | 260 | 52 | 25% |
| 5 | ZJEXPC 1.638 7/14/2026 | 1.64% | 07/14/26 | 98 | 145 | 47 | 48% |
| 6 | BUPFIN 4 PERP | 4.00% | 03/24/99 | 76 | 123 | 47 | 62% |
| 7 | EDPPL 1.875 3/14/2082 | 1.88% | 03/14/82 | 123 | 164 | 41 | 33% |
| 8 | VZ 3.15 3/22/2030 | 3.15% | 03/22/30 | 223 | 264 | 41 | 18% |
| 9 | PCAR 0.5 8/9/2024 | 0.50% | 08/09/24 | 60 | 100 | 40 | 67% |
| 10 | SINOCE 5.95 2/4/2027 | 5.95% | 02/04/27 | 146 | 184 | 38 | 26% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/10/22 – 6/17/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AMZN 3.6 4/13/2032 | 3.60% | 04/13/32 | 40 |
| 2 | AMZN 3.3 4/13/2027 | 3.30% | 04/13/27 | 39 |
| 3 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 38 |
| 4 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 36 |
| 5 | AMZN 3.95 4/13/2052 | 3.95% | 04/13/52 | 36 |
| 6 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 36 |
| 7 | AMZN 2.875 5/12/2041 | 2.88% | 05/12/41 | 36 |
| 8 | AAPL 1.7 8/5/2031 | 1.70% | 08/05/31 | 36 |
| 9 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 35 |
| 10 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/10/22 – 6/17/22 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 6/10/22 – 6/17/22
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