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Investment Grade Corporate Bond Market Summary:
Week Ending 4/30/21

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 4/23/21 – 4/30/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BDVC 4.85 12/15/2024 144A 4.85% 12/15/24 4.54% 106.03 101.43
2 WFC 7.95 11/15/2029 7.95% 11/15/29 4.46% 135.52 129.74
3 IAGLN 8.375 11/15/2028 144A 8.38% 11/15/28 4.17% 114.43 109.85
4 ZYAMCL 4.2 11/29/2022 4.20% 11/29/22 3.65% 69.30 66.86
5 PERU 2.78 12/1/2060 2.78% 12/01/60 3.58% 84.74 81.81
6 VER 2.85 12/15/2032 2.85% 12/15/32 3.52% 102.81 99.32
7 MMBFP 2.125 10/16/2026 2.13% 10/16/26 3.35% 98.40 95.21
8 GLJGR 1.5 10/5/2023 1.50% 10/05/23 3.21% 89.83 87.04
9 PERLNG 5.375 3/22/2030 REGS 5.38% 03/22/30 3.21% 83.03 80.45
10 CLFTON 6.25 10/25/2025 REGS 6.25% 10/25/25 2.91% 98.87 96.08

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 4/23/21 – 4/30/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 HRINTH 5.5 4/27/2047 5.50% 04/27/47 -7.23% 70.20 75.67
2 GWFOOD 3.258 10/29/2030 3.26% 10/29/30 -5.59% 83.31 88.25
3 ED 5.7 2/1/2034 5.70% 02/01/34 -4.35% 122.15 127.71
4 SLOREP 0.6875 3/3/2081 0.69% 03/03/81 -4.07% 81.06 84.50
5 WALLOO 1.25 6/22/2071 1.25% 06/22/71 -3.88% 93.05 96.81
6 GARUDA 5.95 6/3/2023 5.95% 06/03/23 -3.87% 83.63 87.00
7 MDT 1.625 10/15/2050 1.63% 10/15/50 -3.73% 99.34 103.19
8 RAGB 2.1 9/20/2017 2.10% 09/20/17 -3.68% 165.34 171.66
9 AESGEN 4.56 4/30/2025 4.56% 04/30/25 -3.49% 79.81 82.69
10 BTPCL 5 3/1/2035 5.00% 03/01/35 -3.13% 107.91 111.40

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 4/23/21 – 4/30/21

RANK NAME CHANGE YLD YLD-1W
1 Services: Consumer -33 bps 1.70% 2.03%
2 Energy: Electricity -27 bps 0.73% 1.00%
3 Media: Diversified & Production -20 bps 1.20% 1.40%
4 Wholesale -20 bps 1.53% 1.73%
5 Hotel, Gaming & Leisure -15 bps 2.78% 2.93%
6 Transportation: Consumer -12 bps 2.06% 2.18%
7 Consumer Goods: Non-Durable -6 bps 1.08% 1.14%
8 Consumer Goods: Durable -6 bps 1.19% 1.25%
9 Construction & Building -6 bps 1.24% 1.30%
10 Media: Advertising, Printing & Publishing -4 bps 0.76% 0.80%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 4/23/21 – 4/30/21

RANK NAME CHANGE YLD YLD-1W
1 Sovereign & Public Finance 45 bps 1.16% 0.71%
2 Environmental Industries 22 bps 1.23% 1.01%
3 Chemicals, Plastics & Rubber 15 bps 1.43% 1.28%
4 Aerospace & Defense 14 bps 2.01% 1.87%
5 Transportation: Cargo 13 bps 1.36% 1.22%
6 Containers, Packaging, & Glass 12 bps 1.00% 0.88%
7 Banking 12 bps 1.34% 1.22%
8 Utilities: Oil & Gas 10 bps 1.43% 1.34%
9 Utilities: Water 9 bps 1.10% 1.01%
10 Forest Products & Paper 8 bps 1.17% 1.09%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 4/23/21 – 4/30/21

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 4/23/21 – 4/30/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 4/23/21 vs. the week ending 4/30/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 TOYOTA 1.9 4/6/2028 1.90% 04/06/28 37 226 189 511%
2 UBS 0.01 3/31/2026 0.01% 03/31/26 29 180 151 521%
3 TOYOTA 0.4 4/6/2023 0.40% 04/06/23 31 165 134 432%
4 CKHH 1.5 4/15/2026 REGS 1.50% 04/15/26 105 172 67 64%
5 VTRS 2.7 6/22/2030 144A 2.70% 06/22/30 150 214 64 43%
6 PRINCIPAL LIFE GLOBAL FDG II 0.75% 04/12/24 14 75 61 436%
7 VZ 0 3/22/2024 0.75% 03/22/24 202 248 46 23%
8 GS 0 3/8/2024 0.59% 03/08/24 104 148 44 42%
9 CCE 1.5 11/8/2027 1.50% 11/08/27 157 200 43 27%
10 BATSLN 3.984 9/25/2050 3.98% 09/25/50 224 264 40 18%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 4/23/21 – 4/30/21

RANK TRANCHE COUPON MATURITY DEALERS
1 HRINTH 5.5 1/16/2025 5.50% 01/16/25 38
2 VZ 3.55 3/22/2051 3.55% 03/22/51 38
3 ORCL 3.95 3/25/2051 3.95% 03/25/51 37
4 VZ 2.55 3/21/2031 2.55% 03/21/31 37
5 BAC 1.734 7/22/2027 1.73% 07/22/27 36
6 AAPL 1.65 2/8/2031 1.65% 02/08/31 36
7 HRINTH 3.625 9/30/2030 3.63% 09/30/30 36
8 T 2.25 2/1/2032 2.25% 02/01/32 36
9 ORCL 2.875 3/25/2031 2.88% 03/25/31 36
10 T 2.75 6/1/2031 2.75% 06/01/31 35

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 4/23/21 – 4/30/21

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 4/23/21 – 4/30/21

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