Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 5/28/21
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 5/21/21 – 5/28/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | YUNAEN 3.5 8/20/2023 | 3.50% | 08/20/23 | 10.65% | 87.18 | 78.78 |
| 2 | SAKAEI 4.45 5/5/2024 | 4.45% | 05/05/24 | 9.64% | 89.80 | 81.91 |
| 3 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | 8.42% | 70.84 | 65.34 |
| 4 | SARDIN 4.022 11/28/2035 | 4.02% | 11/28/35 | 7.33% | 116.00 | 108.08 |
| 5 | ARYNSW 6.82 PERP | 6.82% | 11/29/49 | 4.97% | 122.00 | 116.22 |
| 6 | AIRFP 2.7 4/17/2023 | 2.70% | 04/17/23 | 4.29% | 104.36 | 100.06 |
| 7 | SYY 6.5 8/1/2028 | 6.50% | 08/01/28 | 4.18% | 127.37 | 122.26 |
| 8 | UFS 6.25 9/1/2042 | 6.25% | 09/01/42 | 3.86% | 108.92 | 104.87 |
| 9 | RABOBK 2.25 11/22/2022 | 2.25% | 11/22/22 | 3.84% | 107.28 | 103.31 |
| 10 | GE 4.5 3/11/2044 | 4.50% | 03/11/44 | 3.63% | 116.17 | 112.11 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 5/21/21 – 5/28/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | GARUDA 5.95 6/3/2023 | 5.95% | 06/03/23 | -8.42% | 74.14 | 80.95 |
| 2 | PERLNG 5.375 3/22/2030 REGS | 5.38% | 03/22/30 | -6.20% | 78.81 | 84.03 |
| 3 | GWFOOD 3.258 10/29/2030 | 3.26% | 10/29/30 | -4.84% | 76.43 | 80.32 |
| 4 | DU PONT E I DE NEMOURS & CO | 0.00% | 02/15/38 | -2.83% | 98.07 | 100.93 |
| 5 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | -2.27% | 104.74 | 107.17 |
| 6 | BCP 3.125 7/1/2030 REGS | 3.13% | 07/01/30 | -2.07% | 98.02 | 100.10 |
| 7 | INTERF 0 5/15/2030 | 0.00% | 05/15/30 | -1.85% | 83.97 | 85.56 |
| 8 | BNSCN 4.5 12/13/2027 | 4.50% | 12/13/27 | -1.85% | 99.81 | 101.69 |
| 9 | KALLPA 4.125 8/16/2027 REGS | 4.13% | 08/16/27 | -1.63% | 102.40 | 104.10 |
| 10 | IFSPE 4.125 10/19/2027 REGS | 4.13% | 10/19/27 | -1.59% | 98.44 | 100.03 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 5/21/21 – 5/28/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | -39 bps | 0.81% | 1.19% |
| 2 | Consumer Goods: Durable | -33 bps | 0.52% | 0.85% |
| 3 | Media: Diversified & Production | -29 bps | 1.14% | 1.43% |
| 4 | Metals & Mining | -29 bps | 1.38% | 1.66% |
| 5 | Finance | -17 bps | 1.40% | 1.58% |
| 6 | Hotel, Gaming & Leisure | -15 bps | 2.81% | 2.96% |
| 7 | Real Estate | -15 bps | 1.51% | 1.65% |
| 8 | Beverage, Food & Tobacco | -14 bps | 0.90% | 1.04% |
| 9 | Construction & Building | -12 bps | 1.15% | 1.28% |
| 10 | Telecommunications | -11 bps | 1.07% | 1.18% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 5/21/21 – 5/28/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Sovereign & Public Finance | 22 bps | 1.17% | 0.95% |
| 2 | Environmental Industries | 17 bps | 1.15% | 0.98% |
| 3 | Wholesale | 17 bps | 1.64% | 1.47% |
| 4 | Utilities: Water | 12 bps | 1.15% | 1.03% |
| 5 | Media: Advertising, Printing & Publishing | 7 bps | 0.75% | 0.68% |
| 6 | Automotive | 3 bps | 1.09% | 1.05% |
| 7 | High Tech Industries | 3 bps | 1.27% | 1.24% |
| 8 | Capital Equipment | 2 bps | 1.05% | 1.04% |
| 9 | Aerospace & Defense | -1 bps | 1.95% | 1.96% |
| 10 | Media: Broadcasting & Subscription | -2 bps | 1.35% | 1.37% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 5/21/21 – 5/28/21
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 5/21/21 – 5/28/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 5/21/21 vs. the week ending 5/28/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | BAX 1.73 4/1/2031 | 1.73% | 04/01/31 | 86 | 157 | 71 | 83% |
| 2 | BAX 3.95 4/1/2030 | 3.95% | 04/01/30 | 62 | 107 | 45 | 73% |
| 3 | JPM 1.5 4/7/2022 | 1.50% | 04/07/22 | 12 | 56 | 44 | 367% |
| 4 | BA 2.7 5/1/2022 | 2.70% | 05/01/22 | 90 | 134 | 44 | 49% |
| 5 | KSS 3.375 5/1/2031 | 3.38% | 05/01/31 | 251 | 292 | 41 | 16% |
| 6 | MPC 5.125 4/1/2024 | 5.13% | 04/01/24 | 45 | 83 | 38 | 84% |
| 7 | AFREXI 3.798 5/17/2031 REGS | 3.80% | 05/17/31 | 112 | 149 | 37 | 33% |
| 8 | UBS 0 2/26/2026 | 0.54% | 02/26/26 | 62 | 99 | 37 | 60% |
| 9 | ADVHEA 4.272 8/15/2048 | 4.27% | 08/15/48 | 20 | 56 | 36 | 180% |
| 10 | RABOBK 5.75 12/1/2043 | 5.75% | 12/01/43 | 163 | 199 | 36 | 22% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 5/21/21 – 5/28/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | T 2.3 6/1/2027 | 2.30% | 06/01/27 | 38 |
| 2 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 37 |
| 3 | VZ 0 3/20/2026 | 1.45% | 03/20/26 | 37 |
| 4 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 37 |
| 5 | AMZN 1 5/12/2026 | 1.00% | 05/12/26 | 36 |
| 6 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 35 |
| 7 | AMZN 1.5 6/3/2030 | 1.50% | 06/03/30 | 35 |
| 8 | KMI 3.6 2/15/2051 | 3.60% | 02/15/51 | 35 |
| 9 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 35 |
| 10 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 35 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 5/21/21 – 5/28/21
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 5/21/21 – 5/28/21
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