Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 4/9/21
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 4/1/21 – 4/9/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | EDF 6 1/23/2014 | 6.00% | 01/23/14 | 6.65% | 174.31 | 163.43 |
| 2 | CCL 1 10/28/2029 | 1.00% | 10/28/29 | 5.84% | 81.49 | 77.00 |
| 3 | MTB 0 7/26/2023 | 0.88% | 07/26/23 | 4.03% | 100.91 | 97.01 |
| 4 | CLECLI 4.858 1/1/2014 | 4.86% | 01/01/14 | 3.87% | 133.01 | 128.05 |
| 5 | JEF 6.5 1/20/2043 | 6.50% | 01/20/43 | 3.63% | 132.88 | 128.22 |
| 6 | ED 4.3 12/1/2056 | 4.30% | 12/01/56 | 3.59% | 114.39 | 110.43 |
| 7 | PARHC 3.342 7/1/2060 | 3.34% | 07/01/60 | 3.56% | 103.36 | 99.80 |
| 8 | VMI 5.25 10/1/2054 | 5.25% | 10/01/54 | 3.44% | 113.97 | 110.18 |
| 9 | BRKHEC 4.1 2/1/2042 | 4.10% | 02/01/42 | 3.36% | 114.70 | 110.97 |
| 10 | EIX 6 1/15/2034 | 6.00% | 01/15/34 | 3.23% | 132.95 | 128.79 |
Top 10 Losers
Showcases the top 10 IG 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 | HRINTH 5.5 4/27/2047 | 5.50% | 04/27/47 | -17.37% | 88.68 | 107.32 |
| 2 | IAGLN 8.375 11/15/2028 REGS | 8.38% | 11/15/28 | -5.12% | 108.03 | 113.87 |
| 3 | GRWALL 3.95 PERP | 3.95% | 07/31/99 | -4.07% | 99.32 | 103.53 |
| 4 | CCAMCL 3.125 3/18/2030 | 3.13% | 03/18/30 | -3.78% | 96.34 | 100.12 |
| 5 | ORIEAS 2.75 11/17/2030 | 2.75% | 11/17/30 | -3.46% | 92.94 | 96.27 |
| 6 | DEVTAM 5.412 12/30/2025 | 5.41% | 12/30/25 | -2.56% | 102.05 | 104.73 |
| 7 | KPN 5.75 9/17/2029 | 5.75% | 09/17/29 | -2.42% | 120.12 | 123.09 |
| 8 | BHARTI 3.25 6/3/2031 144A | 3.25% | 06/03/31 | -2.04% | 96.00 | 98.00 |
| 9 | CMINLE 2.875 2/4/2031 | 2.88% | 02/04/31 | -1.97% | 94.94 | 96.84 |
| 10 | MEITUA 3.05 10/28/2030 REGS | 3.05% | 10/28/30 | -1.80% | 95.63 | 97.38 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 4/1/21 – 4/9/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Services: Consumer | -135 bps | 0.56% | 1.91% |
| 2 | Capital Equipment | -125 bps | 0.47% | 1.72% |
| 3 | Hotel, Gaming & Leisure | -97 bps | 2.10% | 3.06% |
| 4 | Transportation: Consumer | -87 bps | 1.97% | 2.84% |
| 5 | Transportation: Cargo | -80 bps | 0.94% | 1.75% |
| 6 | High Tech Industries | -71 bps | 0.77% | 1.48% |
| 7 | Utilities: Oil & Gas | -69 bps | 1.43% | 2.12% |
| 8 | Chemicals, Plastics & Rubber | -52 bps | 1.40% | 1.92% |
| 9 | Services: Business | -51 bps | 0.92% | 1.43% |
| 10 | Aerospace & Defense | -50 bps | 1.97% | 2.46% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 4/1/21 – 4/9/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Metals & Mining | 260 bps | 4.31% | 1.71% |
| 2 | Containers, Packaging, & Glass | 62 bps | 1.54% | 0.92% |
| 3 | Media: Diversified & Production | 31 bps | 1.48% | 1.18% |
| 4 | Media: Broadcasting & Subscription | 23 bps | 1.51% | 1.28% |
| 5 | Services: Consumer | 6 bps | 1.98% | 1.92% |
| 6 | Insurance | -3 bps | 1.52% | 1.55% |
| 7 | Finance | -4 bps | 1.49% | 1.53% |
| 8 | Banking | -8 bps | 1.30% | 1.38% |
| 9 | Construction & Building | -13 bps | 1.29% | 1.42% |
| 10 | Environmental Industries | -16 bps | 1.27% | 1.43% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry 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 IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 4/1/21 – 4/9/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/1/21 vs. the week ending 4/9/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | DUK 2.55 4/15/2031 | 2.55% | 04/15/31 | 82 | 243 | 161 | 196% |
| 2 | DUK 3.45 4/15/2051 | 3.45% | 04/15/51 | 148 | 246 | 98 | 66% |
| 3 | GAZPRU 1.5 2/17/2027 144A | 1.50% | 02/17/27 | 30 | 106 | 76 | 253% |
| 4 | DTE 3.25 4/1/2051 | 3.25% | 04/01/51 | 199 | 270 | 71 | 36% |
| 5 | DUK 3.25 10/1/2049 | 3.25% | 10/01/49 | 156 | 201 | 45 | 29% |
| 6 | AMT 2.7 4/15/2031 | 2.70% | 04/15/31 | 242 | 286 | 44 | 18% |
| 7 | EPD 2.8 1/31/2030 | 2.80% | 01/31/30 | 300 | 343 | 43 | 14% |
| 8 | EQNR 0.75 5/22/2026 | 0.75% | 05/22/26 | 95 | 136 | 41 | 43% |
| 9 | DUK 3.875 3/15/2046 | 3.88% | 03/15/46 | 122 | 163 | 41 | 34% |
| 10 | VAL 4.7 3/15/2021 | 4.70% | 03/15/21 | 20 | 60 | 40 | 200% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/1/21 – 4/9/21
| 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 1.65 3/25/2026 | 1.65% | 03/25/26 | 39 |
| 5 | ORCL 2.95 4/1/2030 | 2.95% | 04/01/30 | 39 |
| 6 | INTC 3.9 3/25/2030 | 3.90% | 03/25/30 | 37 |
| 7 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 36 |
| 8 | ORCL 3.6 4/1/2050 | 3.60% | 04/01/50 | 36 |
| 9 | VZ 2.1 3/22/2028 | 2.10% | 03/22/28 | 36 |
| 10 | KO 2 3/5/2031 | 2.00% | 03/05/31 | 36 |
Bid-Offer Spread by Industry
Displays the IG 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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