IG & HY Corporate Bond Summary
Coca-Cola (KO) increased 3.7% from $138.09 to $143.17 last week as investors seek to pour into more recession resistant investments with reliable growth given the current economic downturn.
Austria Republic’s (RAGB) bonds decreased 4.4% from $96.58 to $92.89 last week following the European Central Bank’s decision to extend the phase of faster bond-buying through the fall following a spike in COVID cases across Europe.
Containers, Packaging, and Glass was the top performing industry last week with yields dropping 88 bps chiefly driven by a significant rise in demand for packaging across all industries.
Grupo Aeromexico (AERMEX) increased 11.6% from $78.65 to $87.75 last week after announcing restructuring plans with new equity and debt financing.
Kaisa Group Holdings (KAISAG) decreased 35.2% from $77.29 to $50.06 last week given growing investor fear on more defaults and price declines across property bonds.
Energy: Oil and Gas was the top performing industry last week as companies, policy makers and regulators continue to make more collaborations across the energy spectrum.
To view the most recent Corporate Bond Market Summaries: Investment Grade or High Yield