In this week’s market summaries, SolveQuotes composite data showed that MITEL NETWORKS increased 40.3% from following the announcement of their UCaaS partnership and CINEWORLD TL B decreased -6.0% as the media group experienced losses for the third consecutive week. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Monthly Bank Loan Market Summary

MITEL NETWORKS 2ND LIEN TL increased 40.3% from $63.61 to $89.27 following the announcement of their UCaaS partnership news with RingCentral.

NSO GROUP EUR TL B decreased -20.9% from $84.42 to $66.75 after the Israeli spyware firm Pegasus software was found in violation of privacy and human rights. Sanctions and investigations have further indicated the company is also in danger of defaulting on its debt.

Energy: Oil & Gas increased 0.29% in December as the industry continues to experience record growth accredited to the easing of restriction and increased travel, demonstrating a successful rebound from monumental lows in 2020.

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Bank Loan Market Summary

RIVERBED TL B increased 6.4% from $89.57 to $95.32 as the information technology company continues to reap the rewards of their newly integrated unified Network Performance Management (uNPM) solution with Turkey’s third-largest bank, Halkbank.

CINEWORLD TL B decreased -6.0% from $79.91 to $74.91 as the media group experienced losses for the third consecutive week (-18.0% overall). These continued struggles come as investors face doubts surrounding the media company following their scrapped takeover of Cineplex Entertainment.

Environmental Industries increased 0.38% this past week and outpaced fossil fuel industries as the push towards renewable resources and sustainability continues to gain headway.

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Municipal Bond Market Summary

CA TUSEDU 2.25 08/01/2036 increased 0.8% from $98.98 to $99.75 following the announcement that the school district has received roughly $70 million in aid to help students with learning losses catch up. The funds will be used for additional staff hiring and outfitting schools with necessary PPE.

DC DISUTL 4.81 10/01/2114 decreased -2.89% from $101.03 to $95.00 as outdated water and sewer systems indicate imminent issues including flooding and pollution, primarily in less affluent areas.

CA LOSHGR 4 08/01/2036 ranked on the Quote Volume list last week, increasing 232% as the district looks to appeal a disability discrimination court case filed on behalf of a blind student who claims they did not receive adequate access to various academic materials.

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IG & HY Corporate Bond Summary

Disney (DIS 8.45 8/1/2034) increased 2.6% from $156.57 to $160.88 last week as parks continue to see steady attendance growth in recent months and new streaming service Disney+ is said to have had an unexpectedly strong debut reaching 118 million subscribers at the end of last quarter.

BPCE (BPCECB 0.43 5/7/2040) decreased 8.8% from $102.72 to $93.73 last week after decisions to delist its Natixis investment banking arm were made.

Forest Products & Paper was one of the top performing industries last week with yields dropping 10 bps chiefly driven by a range of improvements in new paper machines and associated converting equipment, infrastructure, and investments in the space.

Revlon (REV 6.25 8/1/2024) increased 6% from $40.32 to $42.72 last week after pandemic beauty habits and trends continue to drive sales in makeup and skincare.

Guangzhou R&F Properties (GZRFPR 5.75 1/13/2022) decreased 6.3% from $69.76 to $65.34 last week along with other peer firms as Chinese property moguls steer toward using billions of their own cash to assist debt repayments.

Retail was one of the top performing industries last week with overall prices up 1.2% as beauty products became more accessible through online shopping on various e-commerce platforms, and major store openings outpaced store closures.

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