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Investment Grade Corporate Bond Market Summary:
Week Ending 7/23/21

Our newsletter presents key trends derived from observable 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 7/16/21 – 7/23/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 YUNMET 5.5 4/8/2022 5.50% 04/08/22 5.23% 66.81 63.49
2 RAGB 0.85 6/30/2020 0.85% 06/30/20 4.47% 105.02 100.52
3 NRW 1.75 7/11/2068 1.75% 07/11/68 4.25% 143.89 138.03
4 ENAPCL 4.5 9/14/2047 REGS 4.50% 09/14/47 3.88% 104.05 100.16
5 PERU 6.7142 2/12/2055 6.71% 02/12/55 3.78% 101.56 97.86
6 BREMEN 0.45 2/24/2051 0.45% 02/24/51 3.61% 102.29 98.72
7 OXUNIV 2.544 12/8/2117 2.54% 12/08/17 3.57% 136.77 132.05
8 FORASO 0 4/30/2027 REGS 5.50% 04/30/27 3.51% 99.90 96.51
9 BRK 2.625 6/19/2059 2.63% 06/19/59 3.51% 122.32 118.17
10 THRGN 0.125 1/13/2051 0.13% 01/13/51 3.40% 93.05 89.98

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 7/16/21 – 7/23/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 EDU 2.125 7/2/2025 2.13% 07/02/25 -4.20% 91.93 95.96
2 TELVIS 7.25 5/14/2043 7.25% 05/14/43 -3.27% 71.10 73.51
3 CHILE 3.1 1/22/2061 3.10% 01/22/61 -3.14% 94.28 97.34
4 VZ 7.35 4/1/2039 7.35% 04/01/39 -2.92% 145.88 150.26
5 ORHLTH 4.416 10/1/2044 4.42% 10/01/44 -2.89% 122.13 125.77
6 HARVRD 2.517 10/15/2050 2.52% 10/15/50 -2.83% 100.19 103.11
7 BRITEL 4.25 11/8/2049 144A 4.25% 11/08/49 -2.42% 109.45 112.16
8 PETRPE 5.625 6/19/2047 5.63% 06/19/47 -2.34% 107.40 109.96
9 JUPITR 8.875 7/27/2030 8.88% 07/27/30 -2.00% 116.60 118.98
10 INDON 3.35 3/12/2071 3.35% 03/12/71 -1.98% 98.93 100.93

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 7/16/21 – 7/23/21

RANK NAME CHANGE YLD YLD-1W
1 Containers, Packaging, & Glass -114 bps 0.47% 1.61%
2 Energy: Electricity -53 bps 0.62% 1.15%
3 Services: Consumer -30 bps 1.46% 1.76%
4 Metals & Mining -24 bps 1.37% 1.61%
5 Consumer Goods: Durable -21 bps 0.76% 0.97%
6 Beverage, Food & Tobacco -19 bps 0.88% 1.07%
7 Consumer Goods: Non-Durable -15 bps 0.92% 1.07%
8 High Tech Industries -15 bps 1.17% 1.31%
9 Wholesale -13 bps 1.32% 1.45%
10 Aerospace & Defense -12 bps 1.65% 1.77%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 7/16/21 – 7/23/21

RANK NAME CHANGE YLD YLD-1W
1 Media: Diversified & Production 24 bps 1.38% 1.14%
2 Sovereign & Public Finance 21 bps 1.04% 0.83%
3 Banking 15 bps 1.28% 1.13%
4 Finance 8 bps 1.37% 1.29%
5 Hotel, Gaming & Leisure 8 bps 2.63% 2.55%
6 Real Estate 6 bps 1.64% 1.57%
7 Media: Broadcasting & Subscription 6 bps 1.42% 1.36%
8 Utilities: Water 1 bps 1.01% 0.99%
9 Transportation: Consumer 1 bps 2.00% 1.99%
10 Services: Business 0 bps 0.82% 0.82%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 7/16/21 – 7/23/21

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

IG Industry WL 5Yr_7.26.21

Sentiment

Reveals the percent of IG Corps increasing in price (advancers) vs. IG Corps decreasing in price (decliners) between 7/16/21 – 7/23/21

IG Sentiment NoTitle_7.26.21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 7/16/21 vs. the week ending 7/23/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BAC 1.734 7/22/2027 1.73% 07/22/27 272 347 75 28%
2 VZ 0 3/22/2024 0.75% 03/22/24 185 233 48 26%
3 MINMET 4.2 7/27/2026 4.20% 07/27/26 140 185 45 32%
4 GS 0 6/5/2023 1.18% 06/05/23 60 100 40 67%
5 GS 5.5 10/12/2021 5.50% 10/12/21 107 146 39 36%
6 VMW 4.7 5/15/2030 4.70% 05/15/30 176 213 37 21%
7 V 2.8 12/14/2022 2.80% 12/14/22 108 144 36 33%
8 BK 0.75 1/28/2026 0.75% 01/28/26 149 184 35 23%
9 AXP 2.65 12/2/2022 2.65% 12/02/22 100 134 34 34%
10 AXP 3.3 5/3/2027 3.30% 05/03/27 165 198 33 20%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 7/16/21 – 7/23/21

RANK TRANCHE COUPON MATURITY DEALERS
1 T 2.75 6/1/2031 2.75% 06/01/31 37
2 T 2.25 2/1/2032 2.25% 02/01/32 36
3 BAC 1.734 7/22/2027 1.73% 07/22/27 36
4 VZ 3.55 3/22/2051 3.55% 03/22/51 35
5 VZ 2.55 3/21/2031 2.55% 03/21/31 35
6 UNH 2.3 5/15/2031 2.30% 05/15/31 35
7 UNH 3.25 5/15/2051 3.25% 05/15/51 34
8 ABBV 4.25 11/21/2049 4.25% 11/21/49 34
9 KMI 3.6 2/15/2051 3.60% 02/15/51 34
10 AMZN 3.1 5/12/2051 3.10% 05/12/51 34

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 7/16/21 – 7/23/21

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

IG BO Industry_7.26.21

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 7/16/21 – 7/23/21

IG BO Volume_7.26.21

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