Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 8/20/21
Our newsletter presents key trends derived from observable 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 8/13/21 – 8/20/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | YUNMET 5.5 4/8/2022 | 5.50% | 04/08/22 | 13.44% | 76.83 | 67.73 |
| 2 | CCAMCL 5 2/8/2048 | 5.00% | 02/08/48 | 7.70% | 116.30 | 107.99 |
| 3 | ORIEAS 2.75 11/17/2030 | 2.75% | 11/17/30 | 5.36% | 97.60 | 92.63 |
| 4 | BOSCOL 3.042 7/1/2057 | 3.04% | 07/01/57 | 5.21% | 107.84 | 102.50 |
| 5 | PTTTB 3.7 7/16/2070 REGS | 3.70% | 07/16/70 | 5.11% | 104.05 | 98.99 |
| 6 | UPENN 4.674 9/1/2112 | 4.67% | 09/01/12 | 4.86% | 147.83 | 140.98 |
| 7 | TXHLTH 2.328 11/15/2050 | 2.33% | 11/15/50 | 4.56% | 94.42 | 90.30 |
| 8 | CHGDNU 4.8 9/11/2048 | 4.80% | 09/11/48 | 4.49% | 118.88 | 113.77 |
| 9 | DOW 7.75 10/1/2096 | 7.75% | 10/01/96 | 4.38% | 187.05 | 179.20 |
| 10 | EIX 0.861 11/15/2031 | 0.86% | 11/15/31 | 4.22% | 98.52 | 94.53 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 8/13/21 – 8/20/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | BPL 6.75 8/15/2033 | 6.75% | 08/15/33 | -3.16% | 109.16 | 112.72 |
| 2 | PERU 6.35 8/12/2028 | 6.35% | 08/12/28 | -3.03% | 101.55 | 104.73 |
| 3 | PEMEX 6.95 1/28/2060 | 6.95% | 01/28/60 | -2.83% | 85.57 | 88.07 |
| 4 | ALIPE 6.875 4/17/2027 REGS | 6.88% | 04/17/27 | -2.44% | 100.21 | 102.72 |
| 5 | PTEN 3.95 2/1/2028 | 3.95% | 02/01/28 | -2.30% | 97.03 | 99.32 |
| 6 | INTERF 0 11/30/2025 | 0.00% | 11/30/25 | -2.22% | 92.52 | 94.62 |
| 7 | HELLA 1 5/17/2024 | 1.00% | 05/17/24 | -2.11% | 100.46 | 102.62 |
| 8 | CCL 7.625 3/1/2026 144A | 7.63% | 03/01/26 | -1.95% | 104.76 | 106.84 |
| 9 | MDT 1.75 7/2/2049 | 1.75% | 07/02/49 | -1.53% | 110.22 | 111.93 |
| 10 | SUNTOR 2.25 10/16/2024 144A | 2.25% | 10/16/24 | -1.51% | 103.66 | 105.25 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 8/13/21 – 8/20/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Transportation: Cargo | -24 bps | 1.34% | 1.58% |
| 2 | Media: Advertising, Printing & Publishing | -17 bps | 0.69% | 0.86% |
| 3 | Construction & Building | -14 bps | 0.84% | 0.97% |
| 4 | Services: Consumer | -10 bps | 2.04% | 2.14% |
| 5 | Aerospace & Defense | -8 bps | 1.60% | 1.69% |
| 6 | Insurance | -6 bps | 1.23% | 1.29% |
| 7 | Wholesale | -4 bps | 1.36% | 1.40% |
| 8 | Forest Products & Paper | -2 bps | 0.87% | 0.89% |
| 9 | Healthcare & Pharmaceuticals | -2 bps | 1.00% | 1.02% |
| 10 | Containers, Packaging, & Glass | -1 bps | 0.94% | 0.96% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 8/13/21 – 8/20/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Energy: Electricity | 38 bps | 1.03% | 0.66% |
| 2 | Media: Diversified & Production | 27 bps | 1.43% | 1.16% |
| 3 | Hotel, Gaming & Leisure | 22 bps | 3.05% | 2.83% |
| 4 | Beverage, Food & Tobacco | 20 bps | 1.19% | 0.99% |
| 5 | Consumer Goods: Non-Durable | 20 bps | 1.19% | 0.99% |
| 6 | Capital Equipment | 16 bps | 0.81% | 0.66% |
| 7 | Sovereign & Public Finance | 15 bps | 0.97% | 0.82% |
| 8 | Transportation: Consumer | 15 bps | 2.07% | 1.93% |
| 9 | Environmental Industries | 7 bps | 1.23% | 1.16% |
| 10 | Utilities: Oil & Gas | 6 bps | 1.29% | 1.22% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 8/13/21 – 8/20/21
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 8/13/21 – 8/20/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/13/21 vs. the week ending 8/20/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | AMGN 2 1/15/2032 | 2.00% | 01/15/32 | 245 | 332 | 87 | 36% |
| 2 | VENTGL 3.875 8/15/2029 144A | 3.88% | 08/15/29 | 53 | 136 | 83 | 157% |
| 3 | AMGN 2.8 8/15/2041 | 2.80% | 08/15/41 | 204 | 283 | 79 | 39% |
| 4 | RPRX 2.2 9/2/2030 | 2.20% | 09/02/30 | 66 | 136 | 70 | 106% |
| 5 | AMGN 1.65 8/15/2028 | 1.65% | 08/15/28 | 201 | 269 | 68 | 34% |
| 6 | AEP 2.75 8/15/2051 | 2.75% | 08/15/51 | 160 | 227 | 67 | 42% |
| 7 | VZ 0 3/20/2026 | 1.45% | 03/20/26 | 284 | 347 | 63 | 22% |
| 8 | CAH 2.616 6/15/2022 | 2.62% | 06/15/22 | 110 | 169 | 59 | 54% |
| 9 | CMS 2.65 8/15/2052 | 2.65% | 08/15/52 | 161 | 216 | 55 | 34% |
| 10 | FABUH 0 7/21/2024 | 0.62% | 07/21/24 | 8 | 62 | 54 | 675% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 8/13/21 – 8/20/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | AAPL 1.65 2/8/2031 | 1.65% | 02/08/31 | 40 |
| 2 | AMZN 3.1 5/12/2051 | 3.10% | 05/12/51 | 39 |
| 3 | AAPL 1.7 8/5/2031 | 1.70% | 08/05/31 | 39 |
| 4 | AMZN 2.1 5/12/2031 | 2.10% | 05/12/31 | 39 |
| 5 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 39 |
| 6 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 38 |
| 7 | AAPL 2.65 2/8/2051 | 2.65% | 02/08/51 | 38 |
| 8 | T 2.75 6/1/2031 | 2.75% | 06/01/31 | 37 |
| 9 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 37 |
| 10 | AAPL 1.4 8/5/2028 | 1.40% | 08/05/28 | 37 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 8/13/21 – 8/20/21
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 8/13/21 – 8/20/21
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