In this week’s market summaries, SolveQuotes composite data showed that the Electric industry Loan prices increased by 0.51% as American utilities project an increase in spending and Massachusetts’ Commonwealth Transportation Fund Revenue Refunding bond ranked high on the Quote Volume list last week. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Bank Loan Market Summary

McDermott International Inc’s Term Loan price increased 1.02% for the second week in a row. 

Dunn Paper’s Term Loan price decreased 12.7% from $89.98 to $78.52 as the paper company faces a rating downgrade to Caa3 due to refinancing risk on both it’s revolver and term loan because of a bottleneck in pulp supply.  

Electric industry Loan prices increased by 0.51% as American utilities project an increase in spending to upgrade aging grids and transition to more renewable energy solutions. 

View the most recent Bank Loan Market Summary

Municipal Bond Market Summary

Massachusetts’ Commonwealth Transportation Fund Revenue Refunding  5.00% 8/01/40 bond ranked high on the Quote Volume list last week, increasing 300% after customers traded more than $4 million in positions.

View the most recent Municipal Bond Market Summary

IG & HY Corporate Bond Summary

Albemarle’s (Ticker: ALB) 3.45% 11/15/29 bond price increased 2.1% from $93.43 to $95.42 last week after the U.S.-based lithium production company announced it is reopening an idle lithium mine as lithium demand continues to grow and new technologies continue to lower its costs.

Russian oil company Lukoil’s (Ticker: LUKOIL) 4.563% 4/24/23 bond price decreased 8.7% from $56.47 to $51.55 last week after the U.K. imposed sanctions on the Moscow-based energy giant.

Cargo was one of the top performing sectors last week with overall 5-year yields down 118 bps given emerging and continued sustainability trends in freight and logistics.

Ukraine’s largest steel and mining group MetInvest’s 7.75% 4/23/23 REGS (Ticker: METINV) bond price increased 11.6% from $44.73 to $49.93 last week after resuming operations and doubling exports to Europe despite the war.

Sunac’s 7.95% 8/8/22 bond price decreased 26.6% from $37.51 to $27.52 last week after the Chinese property developer missed its first bond payment deadline.

Industry: The Beverage, Food & Tobacco industry bonds were a top performer last week with prices up 0.2% after reports indicated moderate-to-strong growth last month.

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