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Investment Grade Corporate Bond Market Summary:
Week Ending 1/8/21

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 12/31/20 – 1/8/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 VZ 7.875 7/1/2032 7.88% 07/01/32 7.04% 152.14 142.14
2 WEC 5.848 1/19/2041 5.85% 01/19/41 6.39% 131.76 123.84
3 MTB 0 7/26/2023 0.92% 07/26/23 5.58% 100.59 95.28
4 BAMNB 3.5 6/13/2021 3.50% 06/13/21 4.84% 100.13 95.51
5 GLJGR 1.041 3/3/2022 1.04% 03/03/22 4.69% 90.39 86.34
6 GARUDA 5.95 6/3/2020 5.95% 06/03/23 4.64% 79.91 76.36
7 ARMYHW 5.524 6/15/2050 5.52% 06/15/50 4.09% 130.44 125.31
8 GE 2.125 5/17/2037 2.13% 05/17/37 3.33% 110.18 106.64
9 AGN 2.125 6/1/2029 2.13% 06/01/29 3.31% 104.62 101.27
10 BKDBOM 5.519 PERP 5.52% 12/29/49 3.31% 84.33 81.63

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 12/31/20 – 1/8/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BX 1.5 4/10/2029 144A 1.50% 04/10/29 -11.78% 109.99 124.68
2 KKR 1.625 5/22/2029 144A 1.63% 05/22/29 -11.59% 109.11 123.41
3 BABA 4.4 12/6/2057 4.40% 12/06/57 -11.13% 117.20 131.87
4 HAOHUA 3.7 9/22/2050 3.70% 09/22/50 -10.85% 80.00 89.74
5 TENCNT 3.29 6/3/2060 REGS 3.29% 06/03/60 -10.77% 91.70 102.76
6 CKPH 3.5 PERP 3.50% 12/31/99 -8.27% 91.70 99.97
7 PETMK 4.8 4/21/2060 144A 4.80% 04/21/60 -7.05% 134.38 144.57
8 CNOOC 4.2 5/5/2045 4.20% 05/05/45 -6.67% 106.13 113.72
9 UNH 3.125 5/15/2060 3.13% 05/15/60 -6.63% 107.11 114.72
10 TEMASE 2.5 10/6/2070 144A 2.50% 10/06/70 -6.48% 93.67 100.16

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 12/31/20 – 1/8/21

RANK NAME CHANGE YLD YLD-1W
1 Energy: Electricity -60 bps -1.53% -0.93%
2 Wholesale -52 bps 1.87% 2.39%
3 Utilities: Electric -44 bps 1.08% 1.52%
4 Capital Equipment -34 bps 0.35% 0.69%
5 Media: Diversified & Production -30 bps 0.83% 1.13%
6 Sovereign & Public Finance -25 bps 0.81% 1.06%
7 Consumer Goods: Durable -21 bps 1.10% 1.31%
8 Telecommunications -21 bps 0.87% 1.08%
9 Utilities: Oil & Gas -16 bps 1.19% 1.35%
10 Aerospace & Defense -15 bps 1.48% 1.63%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 12/31/20 – 1/8/21

RANK NAME CHANGE YLD YLD-1W
1 Construction & Building 83 bps 0.80% -0.03%
2 Environmental Industries 70 bps 0.88% 0.18%
3 Containers, Packaging, & Glass 62 bps 0.78% 0.16%
4 Metals & Mining 53 bps 7.62% 7.09%
5 Transportation: Cargo 49 bps 1.04% 0.55%
6 Real Estate 47 bps 1.61% 1.14%
7 Services: Consumer 46 bps 11.69% 11.23%
8 Forest Products & Paper 43 bps 0.81% 0.38%
9 Services: Business 42 bps 0.95% 0.53%
10 Hotel, Gaming & Leisure 31 bps 2.75% 2.44%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 12/31/20 – 1/8/21

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

IG_Industry WL 5Yr

Sentiment

Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 12/31/20 – 1/8/21

IG_ Sentiment

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 12/31/20 vs. the week ending 1/8/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CARR 2.722 2/15/2030 2.72% 02/15/30 79 158 79 100%
2 CARR 3.577 4/5/2050 3.58% 04/05/50 80 156 76 95%
3 PRU 4.6 10/15/2044 4.60% 10/15/44 30 101 71 237%
4 RTX 3.5 3/15/2027 3.50% 03/15/27 62 117 55 89%
5 CARR 2.7 2/15/2031 2.70% 02/15/31 125 177 52 42%
6 CARR 2.493 2/15/2027 REGS 2.49% 02/15/27 122 173 51 42%
7 CDBALF 3 4/24/2023 3.00% 04/24/23 104 148 44 42%
8 TD 0.25 1/12/2023 0.25% 01/12/23 20 64 44 220%
9 AVGO 4.3 11/15/2032 4.30% 11/15/32 212 255 43 20%
10 NDAQ 1.65 1/15/2031 1.65% 01/15/31 191 234 43 23%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 12/31/20 – 1/8/21

RANK TRANCHE COUPON MATURITY DEALERS
1 CVS 5.05 3/25/2048 5.05% 03/25/48 31
2 BA 5.04 5/1/2027 5.04% 05/01/27 30
3 T 2.25 2/1/2032 2.25% 02/01/32 30
4 BMO 1.85 5/1/2025 1.85% 05/01/25 29
5 PETBRA 5.299 1/27/2025 5.30% 01/27/25 29
6 CVS 3.25 8/15/2029 3.25% 08/15/29 29
7 AVGO 4.15 11/15/2030 4.15% 11/15/30 29
8 GM 2.9 2/26/2025 2.90% 02/26/25 29
9 PETBRA 5.6 1/3/2031 5.60% 01/03/31 29
10 CVS 4.78 3/25/2038 4.78% 03/25/38 28

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 12/31/20 – 1/8/21

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 12/31/20 – 1/8/21

IG_BO Volume

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