Corporates
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High Yield Corporate Bond Market Summary:
Week Ending 4/9/21
Our newsletter presents key trends derived from observable High Yield Corporate Bond pricing data over a weekly period.
Top 10 Winners
Showcases the top 10 HY Corp “winners” based on the largest bid price increases between 4/1/21 – 4/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | CHQENE 5.625 3/18/2022 | 5.63% | 03/18/22 | 33.49% | 52.43 | 39.28 |
| 2 | AMC 6.125 5/15/2027 | 6.13% | 05/15/27 | 17.01% | 72.92 | 62.32 |
| 3 | INLOTG 6.75 9/15/2021 REGS | 6.75% | 09/15/21 | 10.20% | 79.12 | 71.80 |
| 4 | HOV 5 2/1/2040 144A | 5.00% | 02/01/40 | 9.88% | 47.88 | 43.57 |
| 5 | MNK 5.75 8/1/2022 | 5.75% | 08/01/22 | 7.70% | 74.25 | 68.94 |
| 6 | BTU 8.5 12/31/2024 144A | 8.50% | 12/31/24 | 7.06% | 44.97 | 42.00 |
| 7 | SRILAN 6.825 7/18/2026 | 6.83% | 07/18/26 | 6.41% | 65.15 | 61.22 |
| 8 | LATAIR 4.5 11/15/2023 | 4.50% | 11/15/23 | 5.90% | 60.00 | 56.66 |
| 9 | ANGOL 9.375 5/8/2048 REGS | 9.38% | 05/08/48 | 5.59% | 99.84 | 94.55 |
| 10 | INCMBZ 5.75 7/17/2024 REGS | 5.75% | 07/17/24 | 5.57% | 92.33 | 87.46 |
Top 10 Losers
Showcases the top 10 HY Corp “losers” based on the largest bid price decreases between 4/1/21 – 4/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SRILIJ 7.25 1/16/2025 REGS | 7.25% | 01/16/25 | -14.13% | 29.87 | 34.78 |
| 2 | ANDRGI 9.5 12/30/2024 REGS | 9.50% | 12/30/24 | -8.08% | 53.27 | 57.96 |
| 3 | ETP 0 11/1/2066 | 3.22% | 11/01/66 | -8.05% | 63.42 | 68.97 |
| 4 | DSPORT 6.625 8/15/2027 144A | 6.63% | 08/15/27 | -6.28% | 48.72 | 51.98 |
| 5 | CAPG 5.98 8/18/2025 | 5.98% | 08/18/25 | -4.13% | 93.83 | 97.88 |
| 6 | METINV 7.65 10/1/2027 REGS | 7.65% | 10/01/27 | -3.90% | 102.66 | 106.83 |
| 7 | YUZHOU 6.35 1/13/2027 | 6.35% | 01/13/27 | -3.74% | 82.42 | 85.63 |
| 8 | METINV 8.5 4/23/2026 REGS | 8.50% | 04/23/26 | -3.67% | 107.03 | 111.11 |
| 9 | YPFDAR 1.5 9/30/2033 REGS | 1.50% | 09/30/33 | -3.67% | 44.85 | 46.56 |
| 10 | DTEKUA 10.75 12/31/2024 | 10.75% | 12/31/24 | -3.58% | 78.17 | 81.08 |
Avg Industry Price
Displays the HY Corp average industry price by sector between 4/1/21 – 4/9/21
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of HY Corps increasing in price (advancers) vs. HY Corps decreasing in price (decliners) between 4/1/21 – 4/9/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the HY Corps with the largest increase in quote volume for the week ending 4/1/21 vs. the week ending 4/9/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | BWXT 4.125 4/15/2029 144A | 4.13% | 04/15/29 | 86 | 153 | 67 | 78% |
| 2 | FGP 8.625 6/15/2020 | 8.63% | 06/15/20 | 22 | 80 | 58 | 264% |
| 3 | DAEHIM 5.875 6/1/2025 REGS | 5.88% | 06/01/25 | 20 | 70 | 50 | 250% |
| 4 | WW 8.625 12/1/2025 144A | 8.63% | 12/01/25 | 148 | 197 | 49 | 33% |
| 5 | ET 5.5 6/1/2027 | 5.50% | 06/01/27 | 20 | 66 | 46 | 230% |
| 6 | ETE 5.875 1/15/2024 | 5.88% | 01/15/24 | 25 | 70 | 45 | 180% |
| 7 | WH 5.375 4/15/2026 144A | 5.38% | 04/15/26 | 216 | 259 | 43 | 20% |
| 8 | CMLP 6.25 4/1/2023 | 6.25% | 04/01/23 | 177 | 216 | 39 | 22% |
| 9 | FOR 8 4/15/2024 144A | 8.00% | 04/15/24 | 163 | 198 | 35 | 21% |
| 10 | RCL 5.5 4/1/2028 144A | 5.50% | 04/01/28 | 275 | 310 | 35 | 13% |
Most Quoted HY Corps
Ranks the HY Corps that were quoted by the highest number of dealers between 4/1/21 – 4/9/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | GT 5.125 11/15/2023 | 5.13% | 11/15/23 | 36 |
| 2 | CAR 6.375 4/1/2024 | 6.38% | 04/01/24 | 36 |
| 3 | PETBRA 8.75 5/23/2026 | 8.75% | 05/23/26 | 33 |
| 4 | PETBRA 7.25 3/17/2044 | 7.25% | 03/17/44 | 33 |
| 5 | PETBRA 5.999 1/27/2028 | 6.00% | 01/27/28 | 33 |
| 6 | PETBRA 6.9 3/19/2049 | 6.90% | 03/19/49 | 33 |
| 7 | PETBRA 5.299 1/27/2025 | 5.30% | 01/27/25 | 33 |
| 8 | PETBRA 6.25 3/17/2024 | 6.25% | 03/17/24 | 33 |
| 9 | MUR 4 6/1/2022 | 4.00% | 06/01/22 | 33 |
| 10 | ARGID 6 2/15/2025 | 6.00% | 02/15/25 | 32 |
Bid-Offer Spread by Industry
Displays the HY Corp average bid-offer spread by industry between 4/1/21 – 4/9/21
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 4/1/21 – 4/9/21
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