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Top Insights of the Week:
Ending 10/22/21
Top weekly insights from Solve Advisors’ Bank Loans, Municipal Bond, and Corporate Bond market summaries.
In this week’s market summaries, SolveQuotes composite data showed that TEN-X TL is up 1.3% as parent organization CoStar Group experienced a nine-day winning streak and NEW YORK-A-A-1 down -3.6% with the announcement that all city workers are required to have at least one vaccine dose . Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.
Bank Loan Market Summary
TEN-X TL is this week’s winner, up 1.3% from $96.51 to $97.76 as parent organization CoStar Group experienced a nine-day winning streak, the longest for the company in 5.5 years.
ATI PHYSICAL THERAPY TL B is this week’s loser, down -3.6% from $97.67 to $94.14 after sinking 16% premarket after the company released disappointing preliminary third-quarter results and cut its annual forecast for the second time.
Aerospace & Defense is this week’s top-performing industry, up .44% due to an increase in air traffic and rising competition indicating a positive outlook despite threats brought on by Covid-19 and supply chain.
Municipal Bond Market Summary
NEW YORK-A-A-1 is this week’s loser, down -3.6% from $117.94 to $113.73 with the announcement that all city workers will be required to have at least one vaccine dose before the end of the month as New York continues its battle against Covid-19.
LOS ANGELES-A ranked on the quote volume list this past week, increasing from 28 to 69 quotes as the Los Angeles Unified School District is planning to sell $543 million in general obligation bonds that will be used to fund projects in the district and refinance existing debt.
IG & HY Corporate Bond Summary
Coca-Cola (KO) increased 3% from $142.37 to $146.67 last week as investors seek to pour into more recession resistant investments with reliable growth given the current economic downturn.
Wens Foodstuff Group (GWFOOD) bonds decreased 6.1% from $80.05 to $75.16 last week as China’s pork industry tries to rebound from a dramatic fall in supply due to an outbreak of African swine fever in 2018.
Containers, Packaging, and Glass was the top performing industry last week with yields dropping 37 bps chiefly driven by a significant rise in demand for packaging across all industries.
Talen Energy Corp. (TLN) increased 12.8% from $48.48 to $53.07 last week after considerations of building its first renewable power generation project in Texas.
Intel (INTEL) decreased 6.5% from $54.36 to $50.81 last week given the ongoing global semiconductor shortage. Company warns the shortages could continue into 2023.
Media: Advertising, Printing & Publishing was one of the top performing industries last week with overall prices up 2% as digital printing technologies continue to displace conventional analogue processes.
To view the most recent Corporate Bond Market Summaries: Investment Grade or High Yield
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