In this week’s market summaries, SolveQuotes composite data showed that the Hotel, Gaming, & Leisure and Media: Diversified & Production was a top performing industry, and Muni Sentiment was heavily negative throughout last week. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Bank Loan Market Summary

STEINHOFF PIK EUR TL A2 increased 13.4% from $55.99 to $63.49 last week after the company announced earnings whereby operating profit increased 16% over the past 6 months vs prior year period.

TELESAT TL B decreased from 1.1% from $95.57 to $94.52 as the company struggles with new regulation imposed by the FCC which will increase operating costs.

Hotels, Gaming, & Leisure was the top performing industry over the past week rising 0.4% driven by the continued reopening trade which fueled price gains in 24 Hour Fitness and HotelBeds loans.

Decliners outpaces advancers 5:4 over the past week as loans increasingly sold off throughout the week after the Fed meeting.

View the most recent Bank Loan Market Summary

Municipal Bond Market Summary

As demand for water begins increase due to extreme levels of heat in California, LOS ANGELES CALIF DEPT WTR 6.57% 07/01/45 bonds increased 1.8% over the past week to $165.92.

NYC GO Taxable Series D 1.216% due 08/01/2026 bonds decreased 2.1% last week to 99.18, breaking the par threshold as the bonds sold off in the face of upcoming NYC Mayoral elections and reduced interest in NYC bonds.

Muni Bond Sentiment was heavily negative last week as ‘Decliners’ outpaced ‘Advancers’ by a 4.4 to 1 as sellers were active and looking to trim positions.

The state of Georgia experienced was the MUNI state winner over the past week as investors bid up GA bonds over the past week.

View the most recent Municipal Bond Market Summary

IG & HY Corporate Bond Summary

TENCNT 3.29% 6/3/2060 increased 4.11% from $92.88 to $96.70 last week after Tencent-backed online dating App, Soulgate, files for an initial public offering.

PEMEX 6.625 6/15/2038 decreased 2.01% from $95.16 to $93.25 last week due major retreats from oil and gas across the industry.

Media: Diversified & Production was a top performing industry over the past week with yields rising 4 bps from 0.61% to 0.66% following Amazon’s announcement to acquire MGM Studios. Amazon bonds were also among the top quoted.

MASHTU 7.35% 7/1/2026 increased 41.28% from $30.59 to $43.22 last week following unprecedented progress in reversing the community’s type 2 diabetes epidemic through partnership with Virta Health.

PBFENE 6% 2/15/2028 decreased 3.43% from $73.83 to $71.30 as the energy sector continues to fall behind other industry peers.

Despite industry prices in Hotels, Gaming, & Leisure declining 0.20%, MGM 5.75% 6/15/2025 was among the top quoted bonds this week following the launch of their new air travel service to Borgata in Atlantic City.

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