Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 4/23/21
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 4/16/21 – 4/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | HRINTH 0 11/7/2022 | 1.34% | 11/07/22 | 11.34% | 83.31 | 74.83 |
| 2 | YUNINV 6.25 3/5/2022 | 6.25% | 03/05/22 | 10.18% | 82.77 | 75.12 |
| 3 | CR 6.55 11/15/2036 | 6.55% | 11/15/36 | 8.86% | 134.00 | 123.09 |
| 4 | CCAMCL 3 1/20/2031 | 3.00% | 01/20/31 | 6.04% | 97.48 | 91.92 |
| 5 | LNC 6.15 4/7/2036 | 6.15% | 04/07/36 | 4.43% | 130.53 | 124.99 |
| 6 | WSFIN 5.15 1/15/2049 144A | 5.15% | 01/15/49 | 4.39% | 122.88 | 117.72 |
| 7 | GAZPRU 7.288 8/16/2037 | 7.29% | 08/16/37 | 4.08% | 139.20 | 133.75 |
| 8 | SLOREP 0.6875 3/3/2081 | 0.69% | 03/03/81 | 3.47% | 84.50 | 81.67 |
| 9 | TSSTEE 3.75 12/18/2022 | 3.75% | 12/18/22 | 3.21% | 96.57 | 93.56 |
| 10 | MNMUTC 4.8 4/15/2048 144A | 4.80% | 04/15/48 | 2.63% | 117.99 | 114.97 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 4/16/21 – 4/23/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | KALLPA 4.875 5/24/2026 | 4.88% | 05/24/26 | -6.57% | 101.84 | 109.00 |
| 2 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | -5.94% | 80.45 | 85.53 |
| 3 | BNSCN 4.5 12/13/2027 | 4.50% | 12/13/27 | -5.13% | 98.71 | 104.05 |
| 4 | PERU 5.35 8/12/2040 REGS | 5.35% | 08/12/40 | -4.79% | 88.30 | 92.74 |
| 5 | TRANSM 4.7 4/16/2034 REGS | 4.70% | 04/16/34 | -4.73% | 107.35 | 112.68 |
| 6 | PETRPE 5.625 6/19/2047 | 5.63% | 06/19/47 | -4.36% | 101.31 | 105.93 |
| 7 | NEXA 6.5 1/18/2028 REGS | 6.50% | 01/18/28 | -4.07% | 108.85 | 113.47 |
| 8 | GWFOOD 3.258 10/29/2030 | 3.26% | 10/29/30 | -4.07% | 88.25 | 91.99 |
| 9 | BATSLN 5.282 4/2/2050 | 5.28% | 04/02/50 | -4.00% | 108.97 | 113.51 |
| 10 | COLOM 3.875 2/15/2061 | 3.88% | 02/15/61 | -3.84% | 89.50 | 93.07 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 4/16/21 – 4/23/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | -71 bps | 0.88% | 1.59% |
| 2 | Media: Advertising, Printing & Publishing | -36 bps | 0.78% | 1.14% |
| 3 | Construction & Building | -16 bps | 1.18% | 1.33% |
| 4 | Aerospace & Defense | -15 bps | 1.90% | 2.05% |
| 5 | Metals & Mining | -9 bps | 4.29% | 4.38% |
| 6 | Utilities: Oil & Gas | -6 bps | 1.36% | 1.42% |
| 7 | Chemicals, Plastics & Rubber | -5 bps | 1.29% | 1.35% |
| 8 | Insurance | -4 bps | 1.48% | 1.52% |
| 9 | Transportation: Cargo | -4 bps | 1.22% | 1.26% |
| 10 | Consumer Goods: Durable | -4 bps | 1.25% | 1.29% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 4/16/21 – 4/23/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Sovereign & Public Finance | 54 bps | 1.19% | 0.65% |
| 2 | Wholesale | 27 bps | 1.75% | 1.48% |
| 3 | Media: Diversified & Production | 24 bps | 1.39% | 1.15% |
| 4 | Energy: Electricity | 21 bps | 1.00% | 0.79% |
| 5 | Environmental Industries | 19 bps | 1.20% | 1.01% |
| 6 | Beverage, Food & Tobacco | 17 bps | 1.19% | 1.03% |
| 7 | Services: Consumer | 14 bps | 2.01% | 1.87% |
| 8 | Banking | 14 bps | 1.33% | 1.20% |
| 9 | Capital Equipment | 12 bps | 0.97% | 0.85% |
| 10 | Finance | 12 bps | 1.54% | 1.42% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 4/16/21 – 4/23/21
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 4/16/21 – 4/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/16/21 vs. the week ending 4/23/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MDWGB 4.875 5/1/2029 | 4.88% | 05/01/29 | 106 | 188 | 82 | 77% |
| 2 | HRINTH 3.25 6/3/2021 | 3.25% | 06/03/21 | 243 | 319 | 76 | 31% |
| 3 | NEGANV 3.625 10/13/2021 | 3.63% | 10/13/21 | 16 | 65 | 49 | 306% |
| 4 | ATVI 2.5 9/15/2050 | 2.50% | 09/15/50 | 194 | 243 | 49 | 25% |
| 5 | HRINTH 3.625 9/30/2030 | 3.63% | 09/30/30 | 301 | 350 | 49 | 16% |
| 6 | BANNER 3.181 1/1/2050 | 3.18% | 01/01/50 | 59 | 107 | 48 | 81% |
| 7 | BAC 3.004 12/20/2023 | 3.00% | 12/20/23 | 162 | 209 | 47 | 29% |
| 8 | HRINTH 3.75 4/27/2022 | 3.75% | 04/27/22 | 261 | 307 | 46 | 18% |
| 9 | HRINTH 0 11/7/2022 | 1.34% | 11/07/22 | 132 | 178 | 46 | 35% |
| 10 | HRINTH 4.25 11/7/2027 | 4.25% | 11/07/27 | 268 | 314 | 46 | 17% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 4/16/21 – 4/23/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 38 |
| 2 | ORCL 1.65 3/25/2026 | 1.65% | 03/25/26 | 37 |
| 3 | ORCL 2.3 3/25/2028 | 2.30% | 03/25/28 | 37 |
| 4 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 5 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 36 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 7 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 35 |
| 8 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 35 |
| 9 | GOOGL 1.1 8/15/2030 | 1.10% | 08/15/30 | 35 |
| 10 | VZ 2.1 3/22/2028 | 2.10% | 03/22/28 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 4/16/21 – 4/23/21
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 4/16/21 – 4/23/21
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