Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 2/26/21

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 2/19/21 – 2/26/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BJHAIG 4.3 10/8/2022 4.30% 10/08/22 21.35% 79.91 65.85
2 WPG 5.95 8/15/2024 5.95% 08/15/24 12.44% 70.05 62.30
3 GLJGR 1.423 5/15/2025 1.42% 05/15/25 9.11% 87.02 79.75
4 GLOG 0 11/27/2024 6.69% 11/27/24 7.14% 104.19 97.25
5 NEE 0 7/28/2023 0.56% 07/28/23 6.29% 99.03 93.17
6 POSAV 5.5 PERP 5.50% 02/06/99 6.10% 90.60 85.39
7 TWX 4.85 7/15/2045 4.85% 07/15/45 4.03% 106.21 102.09
8 FLR 1.75 3/21/2023 1.75% 03/21/23 2.84% 98.23 95.51
9 UMBRIA 0 3/26/2031 0.00% 03/26/31 2.79% 92.00 89.50
10 ERAFP 4.196 2/28/2024 4.20% 02/28/24 2.49% 97.53 95.16

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 2/19/21 – 2/26/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 AESGEN 4.56 4/30/2025 4.56% 04/30/25 -9.04% 82.49 90.69
2 PEPPER 3.301 12/1/2059 3.30% 12/01/59 -8.81% 99.98 109.64
3 PENOMX 4.75 8/6/2050 REGS 4.75% 08/06/50 -7.35% 103.48 111.68
4 OGS 4.658 2/1/2044 4.66% 02/01/44 -6.83% 118.55 127.24
5 BRKHEC 1.875 6/16/2062 1.88% 06/16/62 -6.75% 91.86 98.51
6 INDON 4.45 4/15/2070 4.45% 04/15/70 -6.45% 110.52 118.14
7 BRK 2.625 6/19/2059 2.63% 06/19/59 -6.37% 113.21 120.91
8 OGS 4.5 11/1/2048 4.50% 11/01/48 -6.34% 117.98 125.97
9 PERU 2.78 12/1/2060 2.78% 12/01/60 -6.27% 82.57 88.09
10 CHILE 3.1 1/22/2061 3.10% 01/22/61 -6.26% 90.58 96.64

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 2/19/21 – 2/26/21

RANK NAME CHANGE YLD YLD-1W
1 Services: Consumer -92 bps 1.81% 2.73%
2 Metals & Mining -26 bps 5.99% 6.25%
3 Chemicals, Plastics & Rubber 0 bps 1.32% 1.32%
4 Transportation: Cargo 6 bps 0.93% 0.87%
5 Wholesale 7 bps 1.72% 1.65%
6 Retail 8 bps 1.18% 1.10%
7 Transportation: Consumer 8 bps 2.08% 2.00%
8 Consumer Goods: Non-Durable 9 bps 0.96% 0.87%
9 Services: Business 9 bps 0.84% 0.75%
10 Media: Advertising, Printing & Publishing 10 bps 0.45% 0.35%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 2/19/21 – 2/26/21

RANK NAME CHANGE YLD YLD-1W
1 Capital Equipment 80 bps 1.10% 0.30%
2 Sovereign & Public Finance 65 bps 1.21% 0.56%
3 Media: Diversified & Production 51 bps 1.40% 0.88%
4 Media: Broadcasting & Subscription 41 bps 1.60% 1.19%
5 Environmental Industries 35 bps 1.14% 0.79%
6 Energy: Electricity 33 bps -0.69% -1.02%
7 Utilities: Oil & Gas 30 bps 1.47% 1.17%
8 Construction & Building 29 bps 1.00% 0.71%
9 Hotel, Gaming & Leisure 29 bps 3.00% 2.71%
10 Telecommunications 28 bps 1.25% 0.97%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 2/19/21 – 2/26/21

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 2/19/21 – 2/26/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 2/19/21 vs. the week ending 2/26/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 SANTAN 0.2 2/11/2028 0.20% 02/11/28 28 173 145 518%
2 REPHUN 1.5 11/17/2050 1.50% 11/17/50 28 165 137 489%
3 LBBW 0.375 2/21/2031 0.38% 02/21/31 24 156 132 550%
4 RUSSIA 1.85 11/20/2032 1.85% 11/20/32 28 152 124 443%
5 ROMANI 1.375 12/2/2029 REGS 1.38% 12/02/29 27 150 123 456%
6 RUSSIA 1.125 11/20/2027 1.13% 11/20/27 26 142 116 446%
7 MEX 1.45 10/25/2033 1.45% 10/25/33 21 135 114 543%
8 MEX 2.125 10/25/2051 2.13% 10/25/51 16 124 108 675%
9 MEX 1.35 9/18/2027 1.35% 09/18/27 16 120 104 650%
10 CCBGBB 0.125 2/8/2028 0.13% 02/08/28 26 130 104 400%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 2/19/21 – 2/26/21

RANK TRANCHE COUPON MATURITY DEALERS
1 AAPL 1.2 2/8/2028 1.20% 02/08/28 37
2 SVELEV 1.8 2/10/2031 144A 1.80% 02/10/31 37
3 XOM 2.61 10/15/2030 2.61% 10/15/30 37
4 CVS 1.875 2/28/2031 1.88% 02/28/31 36
5 DIS 2.65 1/13/2031 2.65% 01/13/31 35
6 IBM 1.95 5/15/2030 1.95% 05/15/30 35
7 CVS 5.05 3/25/2048 5.05% 03/25/48 35
8 ORCL 2.95 4/1/2030 2.95% 04/01/30 34
9 AAPL 2.65 2/8/2051 2.65% 02/08/51 34
10 CCI 2.1 4/1/2031 2.10% 04/01/31 34

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 2/19/21 – 2/26/21

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 2/19/21 – 2/26/21

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