Investment Grade Corporate Bond Market Summary – Week Ending 7/23/21
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Investment Grade Corporate Bond Market Summary: Week Ending 7/23/21
Our newsletter presents key trends derived from observable 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 7/16/21 – 7/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | 5.23% | 66.81 | 63.49 |
| 2 | RAGB 0.85 6/30/2020 | 0.85% | 06/30/20 | 4.47% | 105.02 | 100.52 |
| 3 | NRW 1.75 7/11/2068 | 1.75% | 07/11/68 | 4.25% | 143.89 | 138.03 |
| 4 | ENAPCL 4.5 9/14/2047 REGS | 4.50% | 09/14/47 | 3.88% | 104.05 | 100.16 |
| 5 | PERU 6.7142 2/12/2055 | 6.71% | 02/12/55 | 3.78% | 101.56 | 97.86 |
| 6 | BREMEN 0.45 2/24/2051 | 0.45% | 02/24/51 | 3.61% | 102.29 | 98.72 |
| 7 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | 3.57% | 136.77 | 132.05 |
| 8 | FORASO 0 4/30/2027 REGS | 5.50% | 04/30/27 | 3.51% | 99.90 | 96.51 |
| 9 | BRK 2.625 6/19/2059 | 2.63% | 06/19/59 | 3.51% | 122.32 | 118.17 |
| 10 | THRGN 0.125 1/13/2051 | 0.13% | 01/13/51 | 3.40% | 93.05 | 89.98 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 7/16/21 – 7/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | EDU 2.125 7/2/2025 | 2.13% | 07/02/25 | -4.20% | 91.93 | 95.96 |
| 2 | TELVIS 7.25 5/14/2043 | 7.25% | 05/14/43 | -3.27% | 71.10 | 73.51 |
| 3 | CHILE 3.1 1/22/2061 | 3.10% | 01/22/61 | -3.14% | 94.28 | 97.34 |
| 4 | VZ 7.35 4/1/2039 | 7.35% | 04/01/39 | -2.92% | 145.88 | 150.26 |
| 5 | ORHLTH 4.416 10/1/2044 | 4.42% | 10/01/44 | -2.89% | 122.13 | 125.77 |
| 6 | HARVRD 2.517 10/15/2050 | 2.52% | 10/15/50 | -2.83% | 100.19 | 103.11 |
| 7 | BRITEL 4.25 11/8/2049 144A | 4.25% | 11/08/49 | -2.42% | 109.45 | 112.16 |
| 8 | PETRPE 5.625 6/19/2047 | 5.63% | 06/19/47 | -2.34% | 107.40 | 109.96 |
| 9 | JUPITR 8.875 7/27/2030 | 8.88% | 07/27/30 | -2.00% | 116.60 | 118.98 |
| 10 | INDON 3.35 3/12/2071 | 3.35% | 03/12/71 | -1.98% | 98.93 | 100.93 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 7/16/21 – 7/23/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | -114 bps | 0.47% | 1.61% |
| 2 | Energy: Electricity | -53 bps | 0.62% | 1.15% |
| 3 | Services: Consumer | -30 bps | 1.46% | 1.76% |
| 4 | Metals & Mining | -24 bps | 1.37% | 1.61% |
| 5 | Consumer Goods: Durable | -21 bps | 0.76% | 0.97% |
| 6 | Beverage, Food & Tobacco | -19 bps | 0.88% | 1.07% |
| 7 | Consumer Goods: Non-Durable | -15 bps | 0.92% | 1.07% |
| 8 | High Tech Industries | -15 bps | 1.17% | 1.31% |
| 9 | Wholesale | -13 bps | 1.32% | 1.45% |
| 10 | Aerospace & Defense | -12 bps | 1.65% | 1.77% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 7/16/21 – 7/23/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Media: Diversified & Production | 24 bps | 1.38% | 1.14% |
| 2 | Sovereign & Public Finance | 21 bps | 1.04% | 0.83% |
| 3 | Banking | 15 bps | 1.28% | 1.13% |
| 4 | Finance | 8 bps | 1.37% | 1.29% |
| 5 | Hotel, Gaming & Leisure | 8 bps | 2.63% | 2.55% |
| 6 | Real Estate | 6 bps | 1.64% | 1.57% |
| 7 | Media: Broadcasting & Subscription | 6 bps | 1.42% | 1.36% |
| 8 | Utilities: Water | 1 bps | 1.01% | 0.99% |
| 9 | Transportation: Consumer | 1 bps | 2.00% | 1.99% |
| 10 | Services: Business | 0 bps | 0.82% | 0.82% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 7/16/21 – 7/23/21 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 7/16/21 – 7/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/16/21 vs. the week ending 7/23/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 272 | 347 | 75 | 28% |
| 2 | VZ 0 3/22/2024 | 0.75% | 03/22/24 | 185 | 233 | 48 | 26% |
| 3 | MINMET 4.2 7/27/2026 | 4.20% | 07/27/26 | 140 | 185 | 45 | 32% |
| 4 | GS 0 6/5/2023 | 1.18% | 06/05/23 | 60 | 100 | 40 | 67% |
| 5 | GS 5.5 10/12/2021 | 5.50% | 10/12/21 | 107 | 146 | 39 | 36% |
| 6 | VMW 4.7 5/15/2030 | 4.70% | 05/15/30 | 176 | 213 | 37 | 21% |
| 7 | V 2.8 12/14/2022 | 2.80% | 12/14/22 | 108 | 144 | 36 | 33% |
| 8 | BK 0.75 1/28/2026 | 0.75% | 01/28/26 | 149 | 184 | 35 | 23% |
| 9 | AXP 2.65 12/2/2022 | 2.65% | 12/02/22 | 100 | 134 | 34 | 34% |
| 10 | AXP 3.3 5/3/2027 | 3.30% | 05/03/27 | 165 | 198 | 33 | 20% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 7/16/21 – 7/23/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 37 |
| 2 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 3 | BAC 1.734 7/22/2027 | 1.73% | 07/22/27 | 36 |
| 4 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 35 |
| 5 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 35 |
| 6 | UNH 2.3 5/15/2031 | 2.30% | 05/15/31 | 35 |
| 7 | UNH 3.25 5/15/2051 | 3.25% | 05/15/51 | 34 |
| 8 | ABBV 4.25 11/21/2049 | 4.25% | 11/21/49 | 34 |
| 9 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 34 |
| 10 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 34 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 7/16/21 – 7/23/21 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 7/16/21 – 7/23/21
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