In this week’s market summaries, SolveQuotes composite data showed that APPLE LEISURE TL is this week’s winner after Hyatt Hotels agrees to purchase the leisure group and San Francisco area employees who went to work in the office fell 19.2% due to the Delta variant. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Bank Loan Market Summary

APPLE LEISURE TL is this week’s winner, up 9.0% from $91.37 to $99.58 after Hyatt Hotels agrees to purchase the leisure group. The cash deal, to close in Q4, looks to expand Hyatt’s portfolio.

TALEN ENERGY SUPPLY LLC B is this week’s loser, down -8.1% from $91.30 to $83.94 after S&P’s downgrade of the utility company from ‘B‘ to ‘B-’ rating. It listed elevated credit risk and persistently high leverage as the rationale.

Transportation: Cargo is this week’s top industry, up 1.14% as the industry enters “peak season” in August. Many retailers anticipate future shipping delays causing them to move up shipments as part of their risk-mitigation strategy to avoid inventory lags for the holiday season.

View the most recent Bank Loan Market Summary

Municipal Bond Market Summary

OH ST UNIV GEN RCPTS ranked as a top Muni Winner increasing 3.6% from $147.40 to $152.63 last week potentially driven by Grubhub plans to launch Yandex Robots to deliver food across campus.

PUERTO RICO CMWLTH decreased 2.4% from $87.24 to $85.13 as the House of Representatives votes to increase the minimum wage to $8.50 an hour but are against increasing it to $10.50 per hour by 2025.

SAN FRANCISCO CA-D-1 ranked on top of the Quote Volume Movers list last week, increasing from 11 to 81 quotes as San Francisco area employees who went to work in the office fell 19.2% due to the Delta variant.

View the most recent Municipal Bond Market Summary

IG & HY Corporate Bond Summary

DOW Silicones Corp. increased 7.8% from $179.20 to $187.05 last week as the chemical company continues to enhance transparency on ESG priorities and progress.

Buckeye Partners LP decreased 3.2% from $112.72 to $109.16 last week after the company’s second solar acquisition in Texas, leaving investors doubtful as it continues to invest in energy transition.

The Aerospace & Defense industry was among the top performing industries last week with overall 5yr yields down 8 bps given positive industry outlook and growing investments by prominent vendors in the space.

ZAMBIN increased 13.8% from $65.84 to $74.93 last week after Zambia’s new president elect, Haikainde Hichilema, agreed to start a $2 billion mining investment expansion project in the region.

Talen Energy Corp. continues to decrease, down 26.4% from $56.30 to $41.43 after the distressed power producer’s prompt pivot to the crypto mining industry leaves creditors seeking legal advice.

Sovereign & Public Finance was one of the top performing industries last week with overall prices down 0.6% given the continued pace of consumer activity boosted by looser pandemic restrictions and higher vaccination rates.

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