Corporates

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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.

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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