Investment Grade Corporate Bond Market Summary – Week Ending 6/25/21
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Investment Grade Corporate Bond Market Summary: Week Ending 6/25/21
DOW 7.75% 10/1/2096 increased 6.9% from $163.47 to $174.73 last week as the company enhances transparency on ESG priorities coupled with general optimism surrounding industrial companies as Biden’s Infrastructure Deal grows closer. MRWLN 4.75% 7/4/2029 decreased 9.4% from $122.04 to $110.62 last week as the U.K. continues to push back plans to lift remaining COVID-19 restrictions and prices rise on consumer staples. Containers, Packaging, and Glass was the top performing industry last week with yields dropping 92 bps chiefly driven by a significant rise in demand for packaging across all industries.
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 6/18/21 – 6/25/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | DOW 7.75 10/1/2096 | 7.75% | 10/01/96 | 6.89% | 174.73 | 163.47 |
| 2 | ORHLTH 4.416 10/1/2044 | 4.42% | 10/01/44 | 6.05% | 120.89 | 114.00 |
| 3 | BPL 6.375 1/22/2078 | 6.38% | 01/22/78 | 4.28% | 90.39 | 86.68 |
| 4 | BSHSI 3.205 6/1/2050 | 3.21% | 06/01/50 | 4.18% | 104.82 | 100.61 |
| 5 | CMI 5.65 3/1/2098 | 5.65% | 03/01/98 | 4.06% | 143.88 | 138.27 |
| 6 | CHHSDC 2.928 7/15/2050 | 2.93% | 07/15/50 | 3.78% | 99.53 | 95.90 |
| 7 | SAKAEI 4.45 5/5/2024 | 4.45% | 05/05/24 | 3.39% | 93.26 | 90.20 |
| 8 | MINCAP 5.625 8/10/2037 REGS | 5.63% | 08/10/37 | 3.20% | 108.42 | 105.06 |
| 9 | HARTHC 3.447 7/1/2054 | 3.45% | 07/01/54 | 3.08% | 104.48 | 101.35 |
| 10 | SHARPH 2.68 8/1/2050 | 2.68% | 08/01/50 | 2.83% | 96.84 | 94.17 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 6/18/21 – 6/25/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | MRWLN 4.75 7/4/2029 | 4.75% | 07/04/29 | -9.36% | 110.62 | 122.04 |
| 2 | ZYAMCL 4.2 11/29/2022 | 4.20% | 11/29/22 | -5.71% | 78.71 | 83.48 |
| 3 | BWA 7.125 2/15/2029 | 7.13% | 02/15/29 | -3.65% | 124.21 | 128.92 |
| 4 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | -3.55% | 123.37 | 127.90 |
| 5 | MS 6.25 6/26/2035 | 6.25% | 06/26/35 | -3.51% | 85.12 | 88.22 |
| 6 | PERU 6.15 8/12/2032 REGS | 6.15% | 08/12/32 | -3.09% | 101.92 | 105.17 |
| 7 | BRITEL 3.625 11/21/2047 | 3.63% | 11/21/47 | -3.07% | 114.07 | 117.68 |
| 8 | IFF 3.468 12/1/2050 144A | 3.47% | 12/01/50 | -3.04% | 102.52 | 105.74 |
| 9 | IBRD 6.63 7/24/2028 | 6.63% | 07/24/28 | -2.84% | 91.98 | 94.67 |
| 10 | IFC 7.02 4/6/2028 | 7.02% | 04/06/28 | -2.73% | 95.39 | 98.07 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 6/18/21 – 6/25/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | -92 bps | 0.78% | 1.70% |
| 2 | Services: Consumer | -47 bps | 1.48% | 1.95% |
| 3 | Metals & Mining | -16 bps | 1.55% | 1.71% |
| 4 | Hotel, Gaming & Leisure | -15 bps | 2.74% | 2.89% |
| 5 | Energy: Electricity | -14 bps | 0.72% | 0.86% |
| 6 | Transportation: Consumer | -13 bps | 2.02% | 2.14% |
| 7 | Services: Business | -11 bps | 0.74% | 0.86% |
| 8 | Consumer Goods: Durable | -5 bps | 0.89% | 0.94% |
| 9 | Beverage, Food & Tobacco | -4 bps | 0.99% | 1.03% |
| 10 | Energy: Oil & Gas | -3 bps | 1.73% | 1.77% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 6/18/21 – 6/25/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Sovereign & Public Finance | 55 bps | 1.33% | 0.78% |
| 2 | Media: Diversified & Production | 25 bps | 1.48% | 1.22% |
| 3 | Real Estate | 25 bps | 1.80% | 1.55% |
| 4 | Banking | 22 bps | 1.42% | 1.20% |
| 5 | Forest Products & Paper | 18 bps | 1.28% | 1.09% |
| 6 | Finance | 17 bps | 1.53% | 1.36% |
| 7 | Capital Equipment | 12 bps | 1.00% | 0.87% |
| 8 | Environmental Industries | 12 bps | 1.19% | 1.07% |
| 9 | Utilities: Water | 9 bps | 1.14% | 1.05% |
| 10 | Construction & Building | 6 bps | 1.27% | 1.21% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 6/18/21 – 6/25/21 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 6/18/21 – 6/25/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 6/18/21 vs. the week ending 6/25/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BPLN 3.06 6/17/2041 | 3.06% | 06/17/41 | 123 | 231 | 108 | 88% |
| 2 | TOYOTA 0.5 6/14/2024 | 0.50% | 06/14/24 | 48 | 110 | 62 | 129% |
| 3 | CM 1.25 12/22/2026 | 1.25% | 12/22/26 | 63 | 121 | 58 | 92% |
| 4 | BYLAN 1 6/27/2031 | 1.00% | 06/27/31 | 12 | 68 | 56 | 467% |
| 5 | CTPNV 0.5 6/21/2025 | 0.50% | 06/21/25 | 43 | 95 | 52 | 121% |
| 6 | MSTE 6.125 6/15/2028 | 6.13% | 06/15/28 | 156 | 204 | 48 | 31% |
| 7 | AIZ 2.65 1/15/2032 | 2.65% | 01/15/32 | 157 | 201 | 44 | 28% |
| 8 | GS 1 12/21/2025 | 1.00% | 12/21/25 | 16 | 60 | 44 | 275% |
| 9 | BRKHEC 2.4 5/1/2030 | 2.40% | 05/01/30 | 211 | 254 | 43 | 20% |
| 10 | AEE 2.625 3/15/2051 | 2.63% | 03/15/51 | 210 | 253 | 43 | 20% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 6/18/21 – 6/25/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 36 |
| 2 | AMZN 1 5/12/2026 | 1.00% | 05/12/26 | 36 |
| 3 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 36 |
| 4 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 35 |
| 5 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 35 |
| 6 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 35 |
| 7 | FDX 2.4 5/15/2031 | 2.40% | 05/15/31 | 34 |
| 8 | ABBV 3.2 11/21/2029 | 3.20% | 11/21/29 | 34 |
| 9 | ABBV 4.25 11/21/2049 | 4.25% | 11/21/49 | 34 |
| 10 | RDSALN 3.25 4/6/2050 | 3.25% | 04/06/50 | 33 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 6/18/21 – 6/25/21 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 6/18/21 – 6/25/21
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