In this week’s market summaries, SolveQuotes composite data showed that SINCLAIR BROADCAST GROUP down -13% as the group looks to rebound following the pandemic and MASSACHUSETTS ST ranked on the Quote Volume list as the state receives more than $9Bil from the infrastructure bill. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Bank Loan Market Summary

MITEL NETWORKS 2ND LIEN TL is this week’s winner, up 14.2% from $78.91 to $90.11 following the announcement of a strategic partnership with RingCentral to provide Mitel’s global customer base with a migration path to RingCentral’s cloud communications platform.

SINCLAIR BROADCAST GROUP INC. TL B is this week’s loser, down -13% from $51.98 to $45.20 as the media group looks to rebound following setbacks caused by the pandemic and a growing decline in viewership for paid TV.

Utilities: Oil & Gas was this week’s top performing industry, up .24% as crude oil prices remain stable placing continued pressure on customers at the pump.

View the most recent Bank Loan Market Summary

Municipal Bond Market Summary

NORTH TX TWY AUTH CA is this week’s winner, up 3.01% from $69.66 to $71.75 following the announcement that the $200 million expansion of the Sam Rayburn Tollway and its intersections is on track to be completed in December.

MASSACHUSETTS ST ranked on the Quote Volume list this past week, increasing from 21 to 67 quotes as the state stands to receive more than $9 billion from the infrastructure bill over the next five years for roadways, bridges, and other related projects.

View the most recent Municipal Bond Market Summary

IG & HY Corporate Bond Summary

Agrium (AGUCN) increased 6.1% from $126.38 to $134.14 last week given a surge in demand for improved natural fertilizers in Europe due to stringent government policies against chemical fertilizers.

British Telecom (BRITEL) decreased 3.5% from $137.95 to $133.16 last week after nearly half of the phone boxes in the U.K. have been removed due to the growth of the mobile phone industry.

Containers, Packaging, and Glass was the top performing industry last week with yields dropping 72 bps chiefly driven by a significant rise in demand for packaging across all industries.

Kaisa Group Holdings (KAISAG) increased 34.7% from $28.87 to $38.87 last week as indications of gradual recovery and normalization across China’s real estate sector comfort bondholders with firm promises of early repayment on debt.

TPC Group (TPCG) decreased 20% from $85.22 to $68.18 last week. The petrochemical firm is said to continue dealing with the after-effects of COVID-19, as well as ongoing operational deficiencies with several company boilers.

Transportation: Cargo was one of the top performing industries last week with industry prices up 0.5% given emerging sustainability trends across freight and logistics.

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