In this week’s market summaries, SolveQuotes composite data showed that MEMPHIS-REF ranked on the Quote Volume list and Telefonica Europe increased 3.6% after announcing its collaboration with IBM this past week. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Monthly Bank Loan Market Summary

PEABODY ENERGY TL B is this month’s winner, up 11% from $73.02 to $81.03 as in the past two there has been a high volume of news searches, insiders selling of company shares, and increases in the company’s options and bonds.

US TELEPACIFIC TL B is this month’s loser, down -9% from $90.04 to $81.97 as the company has seen weak performance and a ratings downgrade to CCC+ earlier this month.

Energy: Oil & Gas was this month’s top-performing industry, up .77% as the industry continues to surge reaching new highs ahead of meeting with OPEC and its allies.

View the most recent Monthly Bank Loan Market Summary

Bank Loan Market Summary

GULF FINANCE TL B is this week’s winner, up 12% from $85.56 to $95.80 as the company looks to cut its outstanding loan balance from $1.05 billion to $723 million. The refinancing will lower Gulf’s default risk and extend its financial runway according to Moody’s.

MALLINCKRODT EXT TL B is this week’s loser, down -2.3% from $96.48 to $94.48 after the bankruptcy judge declined to throw out claims from insurers tied to the company’s alleged price gouging. The decision caused bonds tied to the company to fall at least 8 cents on the dollar below 50 cents.

Energy: Oil & Gas was this week’s top-performing industry, up .94% as oil settled above $78 a barrel nearing the three-year high on expectations that OPEC ministers will maintain a steady pace in raising supply.

View the most recent Bank Loan Market Summary

Municipal Bond Market Summary

PR GO RFDG-PUB IMPT- is this week’s winner, up 3.22% from $81.00 to $83.61 after the House of Representatives approved legislation that allows the commonwealth to sell restructuring bonds to cut $19 Billion in debt.

MEMPHIS-REF ranked on the Quote Volume list this past week, increasing from 16 to 57 quotes as Fitch Ratings affirms Memphis, TN IDR, and GO Bonds at ‘AA’ indicating a stable outlook.

View the most recent Municipal Bond Market Summary

IG & HY Corporate Bond Summary

Telefonica Europe (TELEFO) increased 3.6% from $136.84 to $141.75 last week after announcing its collaboration with IBM to implement its first cloud-native 5G core network platform.

Ado Properties (ADJGR) decreased 8.6% from $86.91 to $79.46 last week after a demonstration in central Berlin was held to demand a nationwide rent freeze two weeks ahead of national elections. This comes after Ado’s takeover merger with domestic peer Adler Real Estate.

The Business Services industry was the top performing industry last week with overall 5yr yields down 8 bps last week given the continued pace of expansion of business activity across the eurozone boosted by looser pandemic restrictions and higher vaccination rates.

Exela Technologies (EXLINT) increased 5.4% from $74.35 to $78.36 last week after the firm announced plans to deploy over $400 million capital to reduce company debt.

Fantasia Holdings (FTHDGR) decreased 28.8% from $55.46 to $39.49 last week given growing investor angst about China’s real estate crackdown rippling through markets.

Media: Advertising, Printing & Publishing was one of the top performing industries last week with overall prices up 0.96% as digital printing technologies continue to displace conventional analogue processes and important new developments such as ‘3D printing’ become increasingly popular.

To view the most recent Corporate Bond Market Summaries: Investment Grade or High Yield