Investment Grade Corporate Bond Market Summary – Week Ending 9/25/20
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Investment Grade Corporate Bond Market Summary: Week Ending 9/25/20
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 9/18/20 – 9/25/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | GLJGR 0.875 10/7/2022 | 0.88% | 10/07/22 | 9.83% | 81.21 | 73.95 |
| 2 | PENDLE 5.937 10/1/2043 | 5.94% | 10/01/43 | 7.18% | 132.60 | 123.71 |
| 3 | OHANA 5.78 10/1/2036 | 5.78% | 10/01/36 | 7.11% | 135.86 | 126.85 |
| 4 | SLNRFN 5.259 3/31/2041 | 5.26% | 03/31/41 | 6.86% | 135.22 | 126.54 |
| 5 | ARMYHW 5.524 6/15/2050 | 5.52% | 06/15/50 | 4.14% | 134.70 | 129.34 |
| 6 | ARMYHW 5.624 6/15/2050 | 5.62% | 06/15/50 | 3.92% | 136.04 | 130.91 |
| 7 | LPSN 0.75 3/1/2024 | 0.75% | 03/01/24 | 3.84% | 145.60 | 140.22 |
| 8 | OFFUTT 5.46 9/1/2050 | 5.46% | 09/01/50 | 3.78% | 122.10 | 117.66 |
| 9 | TKWYNA 2.25 1/25/2024 | 2.25% | 01/25/24 | 3.70% | 149.85 | 144.49 |
| 10 | BL 0.125 8/1/2024 | 0.13% | 08/01/24 | 3.57% | 132.58 | 128.01 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 9/18/20 – 9/25/20
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | NE 7.75 1/15/2024 | 7.75% | 01/15/24 | -28.00% | 0.61 | 0.85 |
| 2 | TQLTHI 3.75 11/28/2022 | 3.75% | 11/28/22 | -15.99% | 52.68 | 62.71 |
| 3 | RVNC 1.75 2/15/2027 | 1.75% | 02/15/27 | -12.97% | 106.62 | 122.50 |
| 4 | EUTOSO 4 9/21/2021 | 4.00% | 09/21/21 | -11.23% | 41.65 | 46.91 |
| 5 | WFTLF 11 12/1/2024 | 11.00% | 12/01/24 | -8.44% | 59.89 | 65.41 |
| 6 | OXY 3 2/15/2027 | 3.00% | 02/15/27 | -8.13% | 75.14 | 81.80 |
| 7 | PEMEX 6.625 6/15/2038 | 6.63% | 06/15/38 | -7.71% | 75.83 | 82.16 |
| 8 | CCL 6.65 1/15/2028 | 6.65% | 01/15/28 | -7.61% | 80.66 | 87.30 |
| 9 | M 3.625 6/1/2024 | 3.63% | 06/01/24 | -7.11% | 71.38 | 76.84 |
| 10 | GES 2 4/15/2024 | 2.00% | 04/15/24 | -6.73% | 80.26 | 86.05 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 9/18/20 – 9/25/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Consumer Goods: Durable | -42 bps | 1.24% | 1.66% |
| 2 | Transportation: Cargo | -28 bps | 0.83% | 1.11% |
| 3 | Construction & Building | -19 bps | 1.31% | 1.50% |
| 4 | Energy: Oil & Gas | -16 bps | 3.06% | 3.22% |
| 5 | Services: Business | -14 bps | 1.48% | 1.62% |
| 6 | Media: Diversified & Production | -7 bps | 0.79% | 0.87% |
| 7 | Healthcare & Pharmaceuticals | -5 bps | 0.99% | 1.04% |
| 8 | Forest Products & Paper | -4 bps | 0.80% | 0.83% |
| 9 | Media: Advertising, Printing & Publishing | 0 bps | 0.65% | 0.65% |
| 10 | Utilities: Water | 0 bps | 1.02% | 1.02% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 9/18/20 – 9/25/20
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Transportation: Consumer | 80 bps | 4.88% | 4.08% |
| 2 | Hotel, Gaming & Leisure | 60 bps | 3.57% | 2.97% |
| 3 | Sovereign & Public Finance | 57 bps | 1.00% | 0.43% |
| 4 | Capital Equipment | 56 bps | 1.73% | 1.17% |
| 5 | Chemicals, Plastics & Rubber | 47 bps | 2.03% | 1.56% |
| 6 | Environmental Industries | 32 bps | 1.25% | 0.93% |
| 7 | Utilities: Oil & Gas | 31 bps | 1.71% | 1.40% |
| 8 | Consumer Goods: Non-Durable | 30 bps | 1.57% | 1.27% |
| 9 | Containers, Packaging, & Glass | 26 bps | 1.49% | 1.23% |
| 10 | Finance | 26 bps | 1.67% | 1.42% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/18/20 – 9/25/20 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 9/18/20 – 9/25/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/18/20 vs. the week ending 9/25/20
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | DALWAN 8.875 3/21/2023 | 8.88% | 03/21/23 | 6 | 132 | 126 | 2100% |
| 2 | QNBK 1.625 9/22/2025 | 1.63% | 09/22/25 | 2 | 122 | 120 | 6000% |
| 3 | YANTZE 2.15 9/22/2030 REGS | 2.15% | 09/22/30 | 1 | 112 | 111 | 11100% |
| 4 | GLJGR 1.625 4/5/2024 | 1.63% | 04/05/24 | 26 | 135 | 109 | 419% |
| 5 | YANTZE 1.3 9/22/2025 REGS | 1.30% | 09/22/25 | 6 | 113 | 107 | 1783% |
| 6 | PK 5.875 10/1/2028 144A | 5.88% | 10/01/28 | 106 | 211 | 105 | 99% |
| 7 | SCGAU 4.75 9/24/2080 REGS | 4.75% | 09/24/80 | 12 | 116 | 104 | 867% |
| 8 | T 3.65 9/15/2059 144A | 3.65% | 09/15/59 | 10 | 113 | 103 | 1030% |
| 9 | VW 1.25 9/23/2032 | 1.25% | 09/23/32 | 17 | 119 | 102 | 600% |
| 10 | GLJGR 0.875 10/7/2022 | 0.88% | 10/07/22 | 52 | 152 | 100 | 192% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/18/20 – 9/25/20
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | F 9 4/22/2025 | 9.00% | 04/22/25 | 31 |
| 2 | HSBC 6 PERP | 6.00% | 05/22/99 | 30 |
| 3 | HSBC 6.25 PERP | 6.25% | 03/23/99 | 30 |
| 4 | UBS 5.125 PERP | 5.13% | 07/29/99 | 30 |
| 5 | BACR 8 PERP | 8.00% | 03/27/99 | 30 |
| 6 | CCL 11.5 4/1/2023 144A | 11.50% | 04/01/23 | 30 |
| 7 | F 8.5 4/21/2023 | 8.50% | 04/21/23 | 30 |
| 8 | HSBC 6.5 PERP | 6.50% | 03/23/99 | 30 |
| 9 | BNP 6.625 PERP REGS | 6.63% | 05/24/99 | 29 |
| 10 | HSBC 6.375 PERP | 6.38% | 12/29/49 | 29 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 9/18/20 – 9/25/20 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 9/18/20 – 9/25/20
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