Investment Grade Corporate Bond Market Summary – Week Ending 6/18/21
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Investment Grade Corporate Bond Market Summary: Week Ending 6/18/21
TENCNT 3.29% 6/3/2060 increased 4.11% from $92.88 to $96.70 last week after Tencent-backed online dating App, Soulgate, files for an initial public offering. PEMEX 6.625 6/15/2038 decreased 2.01% from $95.16 to $93.25 last week due major retreats from oil and gas across the industry. Media: Diversified & Production was a top performing industry over the past week with yields rising 4 bps from 0.61% to 0.66% following Amazon’s announcement to acquire MGM Studios. Amazon bonds were also among the top quoted.
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 6/11/21 – 6/18/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PPL 5 3/15/2044 | 5.00% | 03/15/44 | 5.41% | 131.44 | 124.70 |
| 2 | GWFOOD 3.258 10/29/2030 | 3.26% | 10/29/30 | 4.25% | 82.93 | 79.56 |
| 3 | TENCNT 3.29 6/3/2060 144A | 3.29% | 06/03/60 | 4.11% | 96.70 | 92.88 |
| 4 | LOW 4.25 9/15/2044 | 4.25% | 09/15/44 | 3.74% | 115.24 | 111.08 |
| 5 | NNN 4.8 10/15/2048 | 4.80% | 10/15/48 | 3.61% | 126.31 | 121.91 |
| 6 | HOFISS 8.625 PERP | 8.63% | 12/21/99 | 3.51% | 96.37 | 93.11 |
| 7 | RPRX 3.55 9/2/2050 REGS | 3.55% | 09/02/50 | 3.38% | 100.89 | 97.59 |
| 8 | MASSMU 4.5 4/15/2065 | 4.50% | 04/15/65 | 3.36% | 120.57 | 116.64 |
| 9 | UNP 3.95 8/15/2059 | 3.95% | 08/15/59 | 3.32% | 115.83 | 112.10 |
| 10 | CARGIL 7.1 7/29/2027 | 7.10% | 07/29/27 | 3.26% | 129.13 | 125.05 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 6/11/21 – 6/18/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | PERUGB 5.4 8/12/2034 | 5.40% | 08/12/34 | -4.40% | 93.30 | 97.60 |
| 2 | DOV 6.65 6/1/2028 | 6.65% | 06/01/28 | -3.37% | 125.00 | 129.37 |
| 3 | CLFTON 6.25 10/25/2025 REGS | 6.25% | 10/25/25 | -2.39% | 99.41 | 101.84 |
| 4 | UNISYD 4.5 11/26/2043 | 4.50% | 11/26/43 | -2.17% | 124.76 | 127.53 |
| 5 | TELVIS 7.25 5/14/2043 | 7.25% | 05/14/43 | -2.09% | 75.19 | 76.79 |
| 6 | COLOM 3.875 2/15/2061 | 3.88% | 02/15/61 | -2.05% | 88.68 | 90.54 |
| 7 | NZGB 1.75 5/15/2041 | 1.75% | 05/15/41 | -2.02% | 86.46 | 88.25 |
| 8 | PEMEX 6.625 6/15/2038 | 6.63% | 06/15/38 | -2.01% | 93.25 | 95.16 |
| 9 | ADTIN 4 8/3/2026 | 4.00% | 08/03/26 | -1.95% | 105.34 | 107.44 |
| 10 | HGB 2.25 6/22/2034 | 2.25% | 06/22/34 | -1.92% | 91.35 | 93.14 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 6/11/21 – 6/18/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Construction & Building | -8 bps | 1.13% | 1.21% |
| 2 | Media: Diversified & Production | -8 bps | 1.23% | 1.31% |
| 3 | Media: Advertising, Printing & Publishing | -4 bps | 0.61% | 0.66% |
| 4 | Beverage, Food & Tobacco | 0 bps | 0.92% | 0.92% |
| 5 | Transportation: Cargo | 0 bps | 1.29% | 1.30% |
| 6 | Capital Equipment | 0 bps | 0.98% | 0.98% |
| 7 | Chemicals, Plastics & Rubber | 0 bps | 1.20% | 1.19% |
| 8 | Insurance | 1 bps | 1.31% | 1.30% |
| 9 | Banking | 1 bps | 1.31% | 1.30% |
| 10 | Hotel, Gaming & Leisure | 1 bps | 2.73% | 2.72% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 6/11/21 – 6/18/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | 73 bps | 1.59% | 0.86% |
| 2 | Sovereign & Public Finance | 38 bps | 1.12% | 0.74% |
| 3 | Metals & Mining | 29 bps | 1.70% | 1.41% |
| 4 | Environmental Industries | 25 bps | 1.16% | 0.92% |
| 5 | Forest Products & Paper | 19 bps | 1.09% | 0.90% |
| 6 | Energy: Electricity | 19 bps | 0.83% | 0.64% |
| 7 | Aerospace & Defense | 19 bps | 1.91% | 1.72% |
| 8 | Transportation: Consumer | 17 bps | 2.20% | 2.03% |
| 9 | Utilities: Oil & Gas | 17 bps | 1.34% | 1.17% |
| 10 | Energy: Oil & Gas | 14 bps | 1.76% | 1.62% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/11/21 – 6/18/21 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 6/11/21 – 6/18/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/11/21 vs. the week ending 6/18/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | DUK 2.55 6/15/2031 | 2.55% | 06/15/31 | 146 | 300 | 154 | 105% |
| 2 | SO 3.125 7/15/2051 | 3.13% | 07/15/51 | 120 | 262 | 142 | 118% |
| 3 | DUK 3.5 6/15/2051 | 3.50% | 06/15/51 | 152 | 289 | 137 | 90% |
| 4 | DUK 3.3 6/15/2041 | 3.30% | 06/15/41 | 119 | 251 | 132 | 111% |
| 5 | ED 3.6 6/15/2061 | 3.60% | 06/15/61 | 169 | 258 | 89 | 53% |
| 6 | ED 2.4 6/15/2031 | 2.40% | 06/15/31 | 199 | 256 | 57 | 29% |
| 7 | PSD 2.379 6/15/2028 | 2.38% | 06/15/28 | 163 | 217 | 54 | 33% |
| 8 | HASI 5.25 7/15/2024 144A | 5.25% | 07/15/24 | 155 | 209 | 54 | 35% |
| 9 | GS 1 11/18/2025 | 1.00% | 11/18/25 | 8 | 62 | 54 | 675% |
| 10 | TFC 1.887 6/7/2029 | 1.89% | 06/07/29 | 172 | 225 | 53 | 31% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/11/21 – 6/18/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AMZN 1 5/12/2026 | 1.00% | 05/12/26 | 38 |
| 2 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 37 |
| 3 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 4 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 36 |
| 5 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 35 |
| 6 | ET 5 5/15/2050 | 5.00% | 05/15/50 | 34 |
| 7 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 34 |
| 8 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 34 |
| 9 | KMI 2 2/15/2031 | 2.00% | 02/15/31 | 34 |
| 10 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/11/21 – 6/18/21 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 6/11/21 – 6/18/21
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