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Investment Grade Corporate Bond Market Summary:
Week Ending 10/9/20

Our newsletter presents key trends derived from observable Investment Grade Corporate Bond pricing data over a weekly period.

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IG Winners/Losers
Industry Winners/Losers
5Yr Yld – Industry
Market Sentiment
Top Movers
Most Quoted IG
Bid Offer Spread
Bid & Offer Volume

Top 10 Winners

Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 10/2/20 – 10/9/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 GLJGR 0.875 10/7/2022 0.88% 10/07/22 10.60% 80.67 72.94
2 CNP 7 9/1/2021 7.00% 09/01/21 8.26% 39.44 36.43
3 PCG 5.5 8/16/2023 5.50% 08/16/23 7.63% 106.31 98.77
4 M 6.9 4/1/2029 6.90% 04/01/29 7.44% 68.53 63.78
5 ESSGR 3.625 2/13/2023 3.63% 02/13/23 7.34% 92.31 86.00
6 OXY 6.625 9/1/2030 6.63% 09/01/30 6.70% 94.94 88.98
7 PETROLEOS MEXICANOS MEDIUM 6.75% 09/21/47 6.41% 80.33 75.49
8 SWK 5.25 11/15/2022 5.25% 11/15/22 6.00% 107.58 101.49
9 BRASKM 5.875 1/31/2050 REGS 5.88% 01/31/50 5.99% 97.82 92.29
10 EQT 3.9 10/1/2027 3.90% 10/01/27 5.78% 96.75 91.46

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 10/2/20 – 10/9/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 LIBMUT 7.697 10/15/2097 7.70% 10/15/97 -4.95% 148.98 156.75
2 ADM 5.765 3/1/2041 5.77% 03/01/41 -4.55% 146.31 153.29
3 BOSCOL 3.129 7/1/2052 3.13% 07/01/52 -3.87% 108.59 112.95
4 STNFRD 4.249 5/1/2054 4.25% 05/01/54 -3.48% 137.25 142.20
5 HMHLTH 4.5 7/1/2057 4.50% 07/01/57 -3.17% 124.58 128.66
6 NWUNI 4.198 12/1/2047 4.20% 12/01/47 -3.13% 124.27 128.28
7 ADVHEA 3.008 6/15/2050 3.01% 06/15/50 -3.12% 102.56 105.86
8 MASSIN 4.678 7/1/2014 4.68% 07/01/14 -3.09% 143.11 147.67
9 DUKHEA 3.92 6/1/2047 3.92% 06/01/47 -3.08% 121.61 125.47
10 NBR 7.5 1/15/2028 144A 7.50% 01/15/28 -3.02% 45.92 47.35

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 10/2/20 – 10/9/20

RANK NAME CHANGE YLD YLD-1W
1 Energy: Electricity -98 bps -0.15% 0.83%
2 Consumer Goods: Durable -67 bps 1.47% 2.13%
3 Energy: Oil & Gas -64 bps 2.96% 3.60%
4 Metals & Mining -36 bps 6.98% 7.34%
5 Media: Diversified & Production -27 bps 0.85% 1.12%
6 Healthcare & Pharmaceuticals -20 bps 0.78% 0.98%
7 Services: Business -18 bps 0.62% 0.80%
8 Construction & Building -8 bps 1.17% 1.25%
9 Automotive -7 bps 1.67% 1.74%
10 Utilities: Electric -4 bps 1.28% 1.32%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 10/2/20 – 10/9/20

RANK NAME CHANGE YLD YLD-1W
1 Services: Consumer 749 bps 17.01% 9.52%
2 Sovereign & Public Finance 67 bps 1.08% 0.42%
3 Aerospace & Defense 47 bps 3.23% 2.76%
4 Transportation: Cargo 28 bps 1.29% 1.00%
5 Capital Equipment 27 bps 1.31% 1.04%
6 Real Estate 27 bps 2.21% 1.94%
7 Retail 17 bps 1.94% 1.77%
8 Insurance 16 bps 1.75% 1.58%
9 Consumer Goods: Non-Durable 15 bps 1.38% 1.23%
10 Banking 12 bps 1.51% 1.39%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 10/2/20 – 10/9/20

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Sentiment

Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 10/2/20 – 10/9/20

IG Market Sentiment - Advancers vs. Decliners

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 10/2/20 vs. the week ending 10/9/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 WMT 5.25 9/1/2035 5.25% 09/01/35 31 155 124 400%
2 NSANY 3.522 9/17/2025 REGS 3.52% 09/17/25 91 159 68 75%
3 PETBRA 7.25 3/17/2044 7.25% 03/17/44 276 340 64 23%
4 PETBRA 6.9 3/19/2049 6.90% 03/19/49 292 350 58 20%
5 PETBRA 6.75 1/27/2041 6.75% 01/27/41 250 304 54 22%
6 BLX 2.375 9/14/2025 REGS 2.38% 09/14/25 45 97 52 116%
7 PETBRA 5.093 1/15/2030 REGS 5.09% 01/15/30 295 345 50 17%
8 PETBRA 5.6 1/3/2031 5.60% 01/03/31 294 344 50 17%
9 PETBRA 6.75 6/3/2050 6.75% 06/03/50 264 314 50 19%
10 FLR 1.75 3/21/2023 1.75% 03/21/23 86 136 50 58%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 10/2/20 – 10/9/20

RANK TRANCHE COUPON MATURITY DEALERS
1 F 8.5 4/21/2023 8.50% 04/21/23 36
2 PETBRA 5.093 1/15/2030 REGS 5.09% 01/15/30 35
3 PETBRA 5.6 1/3/2031 5.60% 01/03/31 35
4 PETBRA 6.9 3/19/2049 6.90% 03/19/49 35
5 PETBRA 7.25 3/17/2044 7.25% 03/17/44 34
6 CCL 11.5 4/1/2023 144A 11.50% 04/01/23 33
7 F 9 4/22/2025 9.00% 04/22/25 33
8 PETBRA 5.299 1/27/2025 5.30% 01/27/25 33
9 PETBRA 6.75 6/3/2050 6.75% 06/03/50 32
10 F 5.291 12/8/2046 5.29% 12/08/46 31

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 10/2/20 – 10/9/20

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 10/2/20 – 10/9/20

IG Bid Offer Volume

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