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Investment Grade Corporate Bond Market Summary:
Week Ending 11/13/20

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 11/6/20 – 11/13/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CCL 1 10/28/2029 1.00% 10/28/29 15.76% 67.08 57.95
2 AFFP 1.875 1/16/2025 1.88% 01/16/25 13.45% 83.81 73.87
3 TRGV 6.625 2/17/2045 6.63% 02/17/45 11.88% 98.78 88.29
4 GATESW 3 2/28/2022 3.00% 02/28/22 10.05% 79.30 72.05
5 CCAPGR 3.5 4/15/2023 3.50% 04/15/23 8.91% 81.69 75.01
6 GATAIR 2.875 7/5/2049 2.88% 07/05/49 7.60% 93.06 86.49
7 HTHROW 2.75 8/9/2049 2.75% 08/09/49 7.45% 98.57 91.74
8 EZJLN 1.125 10/18/2023 1.13% 10/18/23 7.15% 95.11 88.77
9 PSX 4.875 11/15/2044 4.88% 11/15/44 6.61% 121.33 113.81
10 AKBNK 6.8 2/6/2026 REGS 6.80% 02/06/26 6.36% 102.48 96.35

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 11/6/20 – 11/13/20

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 SSELN 1.429 10/20/2056 1.43% 10/20/56 -7.72% 162.49 176.08
2 HTHROW 1.372 1/28/2049 1.37% 01/28/49 -7.52% 130.54 141.15
3 UU 1.702 11/21/2057 1.70% 11/21/57 -7.24% 194.16 209.32
4 W 0.625 10/1/2025 0.63% 10/01/25 -7.19% 97.12 104.64
5 SSWTR 1.843 6/30/2051 1.84% 06/30/51 -6.80% 174.99 187.75
6 CAMBRG 2.35 6/27/2078 2.35% 06/27/78 -6.24% 144.95 154.60
7 OXUNIV 2.544 12/8/2017 2.54% 12/08/17 -6.15% 134.67 143.50
8 VZ 8.75 8/15/2031 8.75% 08/15/31 -5.53% 145.69 154.21
9 LRN 1.125 9/1/2027 1.13% 09/01/27 -5.04% 80.46 84.74
10 AFFNTY 1.548 6/1/2045 1.55% 06/01/45 -5.04% 157.81 166.19

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 11/6/20 – 11/13/20

RANK NAME CHANGE YLD YLD-1W
1 Construction & Building -41 bps 0.85% 1.26%
2 Telecommunications -33 bps 0.95% 1.28%
3 Hotel, Gaming & Leisure -25 bps 3.19% 3.44%
4 Media: Diversified & Production -15 bps 0.90% 1.05%
5 Transportation: Cargo -12 bps 0.90% 1.03%
6 Forest Products & Paper -10 bps 0.82% 0.92%
7 Utilities: Electric -9 bps 1.19% 1.27%
8 Media: Advertising, Printing & Publishing -8 bps 0.42% 0.50%
9 Healthcare & Pharmaceuticals -8 bps 0.68% 0.76%
10 Insurance -4 bps 1.57% 1.61%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 11/6/20 – 11/13/20

RANK NAME CHANGE YLD YLD-1W
1 Services: Consumer 1061 bps 20.79% 10.18%
2 Metals & Mining 111 bps 4.56% 3.45%
3 Sovereign & Public Finance 74 bps 1.35% 0.61%
4 Services: Business 34 bps 1.07% 0.73%
5 Real Estate 34 bps 2.15% 1.81%
6 Utilities: Water 33 bps 1.32% 0.99%
7 Environmental Industries 28 bps 1.22% 0.94%
8 Beverage, Food & Tobacco 25 bps 1.10% 0.85%
9 Consumer Goods: Durable 21 bps 1.55% 1.35%
10 Consumer Goods: Non-Durable 18 bps 1.26% 1.08%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 11/6/20 – 11/13/20

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

IG WL 5Yr

Sentiment

Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 11/6/20 – 11/13/20

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 11/6/20 vs. the week ending 11/13/20

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 EQT 7.875 2/1/2025 7.88% 02/01/25 119 213 94 79%
2 TSINGH 6 12/10/2020 6.00% 12/10/20 54 129 75 139%
3 MEITUA 2.125 10/28/2025 REGS 2.13% 10/28/25 63 116 53 84%
4 BA 3.25 2/1/2028 3.25% 02/01/28 92 141 49 53%
5 MEITUA 3.05 10/28/2030 REGS 3.05% 10/28/30 68 116 48 71%
6 USB 0 PERP 1.35% 12/29/49 28 67 39 139%
7 PEAKRN 5.35 PERP 5.35% 10/28/99 22 59 37 168%
8 PM 1.75 11/1/2030 1.75% 11/01/30 123 154 31 25%
9 XEL 2.6 3/15/2022 2.60% 03/15/22 44 74 30 68%
10 BAX 1.73 4/1/2031 144A 1.73% 04/01/31 92 122 30 33%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 11/6/20 – 11/13/20

RANK TRANCHE COUPON MATURITY DEALERS
1 PETBRA 7.25 3/17/2044 7.25% 03/17/44 34
2 PETBRA 6.9 3/19/2049 6.90% 03/19/49 34
3 PETBRA 6.75 1/27/2041 6.75% 01/27/41 33
4 PETBRA 6.75 6/3/2050 6.75% 06/03/50 33
5 PETBRA 5.6 1/3/2031 5.60% 01/03/31 33
6 PETBRA 5.093 1/15/2030 REGS 5.09% 01/15/30 32
7 PETBRA 5.299 1/27/2025 5.30% 01/27/25 30
8 PETBRA 5.375 1/27/2021 5.38% 01/27/21 29
9 HSBC 6.875 12/29/2049 6.88% 12/29/49 29
10 F 9 4/22/2025 9.00% 04/22/25 29

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 11/6/20 – 11/13/20

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

IG BO Industry

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 11/6/20 – 11/13/20

IG Bid Offer Volume

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