Investment Grade Corporate Bond Market Summary – Week Ending 9/3/21
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Investment Grade Corporate Bond Market Summary: Week Ending 9/3/21
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 8/27/21 – 9/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | CARUNA 2.701 10/16/2037 | 2.70% | 10/16/37 | 7.75% | 124.50 | 115.54 |
| 2 | COLLIN 0 11/23/2023 | 3.62% | 11/23/23 | 4.78% | 93.00 | 88.75 |
| 3 | KO 7.375 7/29/2093 | 7.38% | 07/29/93 | 3.56% | 204.66 | 197.62 |
| 4 | EDU 2.125 7/2/2025 | 2.13% | 07/02/25 | 2.93% | 90.77 | 88.19 |
| 5 | MET 10.75 8/1/2039 | 10.75% | 08/01/39 | 2.80% | 177.67 | 172.82 |
| 6 | CAG 6.625 8/15/2039 | 6.63% | 08/15/39 | 2.80% | 137.82 | 134.06 |
| 7 | CNOOC 3.3 9/30/2049 | 3.30% | 09/30/49 | 2.80% | 97.46 | 94.81 |
| 8 | PCG 4.95 7/1/2050 | 4.95% | 07/01/50 | 2.71% | 107.14 | 104.32 |
| 9 | SUNTOR 5.875 1/15/2036 | 5.88% | 01/15/36 | 2.67% | 123.32 | 120.11 |
| 10 | ADSEZ 5 8/2/2041 144A | 5.00% | 08/02/41 | 2.52% | 105.49 | 102.89 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 8/27/21 – 9/3/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
|---|---|---|---|---|---|---|
| 1 | ITALY 5.345 1/27/2048 | 5.35% | 01/27/48 | -4.09% | 167.14 | 174.27 |
| 2 | THAMES 1.76 8/28/2062 | 1.76% | 08/28/62 | -3.99% | 210.50 | 219.24 |
| 3 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | -3.74% | 92.80 | 96.41 |
| 4 | RAGB 0.85 6/30/2020 | 0.85% | 06/30/20 | -3.11% | 96.39 | 99.49 |
| 5 | NRW 0.2 1/27/2051 | 0.20% | 01/27/51 | -2.96% | 93.29 | 96.14 |
| 6 | THRGN 0.125 1/13/2051 | 0.13% | 01/13/51 | -2.85% | 92.07 | 94.77 |
| 7 | CETERA 7.5 4/1/2029 144A | 7.50% | 04/01/29 | -2.69% | 102.23 | 105.06 |
| 8 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | -2.66% | 135.34 | 139.05 |
| 9 | HAMBRG 0.2 9/3/2049 | 0.20% | 09/03/49 | -2.66% | 93.93 | 96.49 |
| 10 | BREMEN 0.45 2/24/2051 | 0.45% | 02/24/51 | -2.62% | 100.78 | 103.49 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 8/27/21 – 9/3/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Services: Consumer | -23 bps | 2.20% | 2.43% |
| 2 | Chemicals, Plastics & Rubber | -19 bps | 1.26% | 1.45% |
| 3 | Consumer Goods: Non-Durable | -15 bps | 0.86% | 1.02% |
| 4 | Media: Diversified & Production | -12 bps | 1.02% | 1.14% |
| 5 | Healthcare & Pharmaceuticals | -9 bps | 0.95% | 1.04% |
| 6 | Transportation: Cargo | -9 bps | 1.39% | 1.48% |
| 7 | Environmental Industries | -7 bps | 1.15% | 1.22% |
| 8 | Insurance | -5 bps | 1.24% | 1.29% |
| 9 | Energy: Oil & Gas | -4 bps | 1.78% | 1.82% |
| 10 | Beverage, Food & Tobacco | -4 bps | 0.98% | 1.02% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 8/27/21 – 9/3/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
|---|---|---|---|---|
| 1 | Containers, Packaging, & Glass | 37 bps | 1.33% | 0.96% |
| 2 | Sovereign & Public Finance | 33 bps | 1.04% | 0.71% |
| 3 | Hotel, Gaming & Leisure | 27 bps | 2.88% | 2.61% |
| 4 | Banking | 18 bps | 1.30% | 1.12% |
| 5 | Metals & Mining | 16 bps | 1.66% | 1.49% |
| 6 | Consumer Goods: Durable | 13 bps | 1.11% | 0.98% |
| 7 | Finance | 12 bps | 1.31% | 1.19% |
| 8 | Capital Equipment | 12 bps | 0.83% | 0.72% |
| 9 | Services: Business | 11 bps | 0.76% | 0.65% |
| 10 | Forest Products & Paper | 9 bps | 0.97% | 0.88% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 8/27/21 – 9/3/21 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 8/27/21 – 9/3/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/27/21 vs. the week ending 9/3/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|---|---|
| 1 | ENELIM 1.375 7/12/2026 REGS | 1.38% | 07/12/26 | 57 | 136 | 79 | 139% |
| 2 | PRXNA 3.061 7/13/2031 REGS | 3.06% | 07/13/31 | 72 | 128 | 56 | 78% |
| 3 | AEMSPA 0.625 7/15/2031 | 0.63% | 07/15/31 | 73 | 122 | 49 | 67% |
| 4 | CS 0.25 6/16/2028 | 0.25% | 06/16/28 | 37 | 85 | 48 | 130% |
| 5 | PARHC 3.342 7/1/2060 | 3.34% | 07/01/60 | 37 | 85 | 48 | 130% |
| 6 | BIDU 2.375 8/23/2031 | 2.38% | 08/23/31 | 230 | 277 | 47 | 20% |
| 7 | PHILIP 0.875 5/17/2027 | 0.88% | 05/17/27 | 143 | 188 | 45 | 31% |
| 8 | MRK 0.75 2/24/2026 | 0.75% | 02/24/26 | 218 | 262 | 44 | 20% |
| 9 | HAFC 3.75 9/1/2031 | 3.75% | 09/01/31 | 40 | 84 | 44 | 110% |
| 10 | RECLIN 2.75 1/13/2027 | 2.75% | 01/13/27 | 88 | 132 | 44 | 50% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 8/27/21 – 9/3/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
|---|---|---|---|---|
| 1 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 42 |
| 2 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 41 |
| 3 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 38 |
| 4 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 38 |
| 5 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 38 |
| 6 | VZ 3.7 3/22/2061 | 3.70% | 03/22/61 | 37 |
| 7 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 37 |
| 8 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 37 |
| 9 | AMGN 2 1/15/2032 | 2.00% | 01/15/32 | 36 |
| 10 | INTC 1.6 8/12/2028 | 1.60% | 08/12/28 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 8/27/21 – 9/3/21 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 8/27/21 – 9/3/21
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