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Investment Grade Corporate Bond Market Summary:
Week Ending 4/1/21

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 3/26/21 – 4/1/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 DRI 6.8 10/15/2037 6.80% 10/15/37 9.26% 119.68 109.54
2 WCNCN 3.05 4/1/2050 3.05% 04/01/50 5.19% 98.54 93.68
3 EPD 3.95 1/31/2060 3.95% 01/31/60 4.67% 102.01 97.46
4 SPG 3.25 9/13/2049 3.25% 09/13/49 4.33% 95.29 91.33
5 WBA 4.1 4/15/2050 4.10% 04/15/50 4.14% 103.66 99.53
6 T 5.15 3/15/2042 5.15% 03/15/42 4.08% 122.20 117.42
7 WINGTA 3.68 1/16/2030 3.68% 01/16/30 3.89% 101.03 97.25
8 SO 3.45 10/1/2049 3.45% 10/01/49 3.84% 104.49 100.63
9 DUK 3.25 10/1/2049 3.25% 10/01/49 3.68% 100.35 96.78
10 BPLN 3.379 2/8/2061 3.38% 02/08/61 3.67% 94.29 90.95

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 3/26/21 – 4/1/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 HRINTH 4.25 PERP 4.25% 09/30/99 -6.72% 96.74 103.71
2 CAMBRG 2.35 6/27/2078 2.35% 06/27/78 -4.25% 129.79 135.56
3 PPL 1.541 12/1/2056 1.54% 12/01/56 -3.84% 179.89 187.06
4 UKMBAS 1.625 8/26/2060 1.63% 08/26/60 -3.63% 88.86 92.20
5 KEL 1.7085 2/1/2058 1.71% 02/01/58 -3.32% 193.04 199.67
6 EKT 4.875 1/15/2028 REGS 4.88% 01/15/28 -3.18% 97.47 100.68
7 GWOCN 1.357 9/17/2027 144A 1.36% 09/17/27 -2.94% 94.18 97.03
8 ENGIFP 5 10/1/2060 5.00% 10/01/60 -2.93% 166.03 171.04
9 RABOBK 5.375 8/3/2060 5.38% 08/03/60 -2.84% 186.52 191.97
10 BRK 2.625 6/19/2059 2.63% 06/19/59 -2.77% 112.35 115.55

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 3/26/21 – 4/1/21

RANK NAME CHANGE YLD YLD-1W
1 Metals & Mining -255 bps 1.68% 4.23%
2 Beverage, Food & Tobacco -94 bps 1.35% 2.29%
3 Containers, Packaging, & Glass -53 bps 0.90% 1.43%
4 Media: Broadcasting & Subscription -26 bps 1.27% 1.53%
5 Consumer Goods: Durable -11 bps 1.57% 1.68%
6 Healthcare & Pharmaceuticals -2 bps 1.19% 1.22%
7 High Tech Industries 3 bps 1.41% 1.38%
8 Media: Diversified & Production 10 bps 1.17% 1.07%
9 Retail 18 bps 1.58% 1.40%
10 Forest Products & Paper 21 bps 1.37% 1.16%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 3/26/21 – 4/1/21

RANK NAME CHANGE YLD YLD-1W
1 Capital Equipment 136 bps 1.64% 0.28%
2 Transportation: Consumer 130 bps 3.11% 1.82%
3 Energy: Electricity 119 bps 1.57% 0.38%
4 Services: Consumer 111 bps 1.88% 0.78%
5 Utilities: Oil & Gas 78 bps 2.14% 1.36%
6 Sovereign & Public Finance 69 bps 1.36% 0.67%
7 Transportation: Cargo 63 bps 1.66% 1.03%
8 Banking 52 bps 1.74% 1.22%
9 Utilities: Water 51 bps 1.45% 0.94%
10 Services: Business 51 bps 1.44% 0.93%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 3/26/21 – 4/1/21

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 3/26/21 – 4/1/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 3/26/21 vs. the week ending 4/1/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ULFP 2.5 2/26/2024 2.50% 02/26/24 24 137 113 471%
2 ULFP 1.375 10/17/2022 1.38% 10/17/22 42 103 61 145%
3 BPCEGP 1 12/22/2025 1.00% 12/22/25 70 123 53 76%
4 BRKHEC 2.85 5/15/2051 2.85% 05/15/51 83 135 52 63%
5 IMBLN 1.75 3/18/2033 1.75% 03/18/33 103 150 47 46%
6 IFC 2.625 9/7/2023 2.63% 09/07/23 10 50 40 400%
7 UNP 3.75 7/15/2025 3.75% 07/15/25 173 213 40 23%
8 NI 5.65 2/1/2045 5.65% 02/01/45 71 109 38 54%
9 JEF 4.15 1/23/2030 4.15% 01/23/30 116 153 37 32%
10 UNP 3.25 8/15/2025 3.25% 08/15/25 166 203 37 22%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 3/26/21 – 4/1/21

RANK TRANCHE COUPON MATURITY DEALERS
1 VZ 3.55 3/22/2051 3.55% 03/22/51 41
2 VZ 0 3/20/2026 1.45% 03/20/26 41
3 VZ 2.55 3/21/2031 2.55% 03/21/31 40
4 ORCL 2.95 4/1/2030 2.95% 04/01/30 39
5 ORCL 1.65 3/25/2026 1.65% 03/25/26 37
6 VZ 2.1 3/22/2028 2.10% 03/22/28 36
7 INTC 3.9 3/25/2030 3.90% 03/25/30 36
8 VZ 1.75 1/20/2031 1.75% 01/20/31 35
9 ETP 5 5/15/2050 5.00% 05/15/50 35
10 VZ 3.7 3/22/2061 3.70% 03/22/61 35

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 3/26/21 – 4/1/21

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 3/26/21 – 4/1/21

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