Corporates

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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.

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

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

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

Bid and Offer Volume

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

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