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Investment Grade Corporate Bond Market Summary:
Week Ending 9/3/21

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 8/27/21 – 9/3/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 CARUNA 2.701 10/16/2037 2.70% 10/16/37 7.75% 124.50 115.54
2 COLLIN 0 11/23/2023 3.62% 11/23/23 4.78% 93.00 88.75
3 KO 7.375 7/29/2093 7.38% 07/29/93 3.56% 204.66 197.62
4 EDU 2.125 7/2/2025 2.13% 07/02/25 2.93% 90.77 88.19
5 MET 10.75 8/1/2039 10.75% 08/01/39 2.80% 177.67 172.82
6 CAG 6.625 8/15/2039 6.63% 08/15/39 2.80% 137.82 134.06
7 CNOOC 3.3 9/30/2049 3.30% 09/30/49 2.80% 97.46 94.81
8 PCG 4.95 7/1/2050 4.95% 07/01/50 2.71% 107.14 104.32
9 SUNTOR 5.875 1/15/2036 5.88% 01/15/36 2.67% 123.32 120.11
10 ADSEZ 5 8/2/2041 144A 5.00% 08/02/41 2.52% 105.49 102.89

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 8/27/21 – 9/3/21

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 ITALY 5.345 1/27/2048 5.35% 01/27/48 -4.09% 167.14 174.27
2 THAMES 1.76 8/28/2062 1.76% 08/28/62 -3.99% 210.50 219.24
3 SLOREP 0.6875 3/3/2081 0.69% 03/03/81 -3.74% 92.80 96.41
4 RAGB 0.85 6/30/2020 0.85% 06/30/20 -3.11% 96.39 99.49
5 NRW 0.2 1/27/2051 0.20% 01/27/51 -2.96% 93.29 96.14
6 THRGN 0.125 1/13/2051 0.13% 01/13/51 -2.85% 92.07 94.77
7 CETERA 7.5 4/1/2029 144A 7.50% 04/01/29 -2.69% 102.23 105.06
8 OXUNIV 2.544 12/8/2117 2.54% 12/08/17 -2.66% 135.34 139.05
9 HAMBRG 0.2 9/3/2049 0.20% 09/03/49 -2.66% 93.93 96.49
10 BREMEN 0.45 2/24/2051 0.45% 02/24/51 -2.62% 100.78 103.49

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 8/27/21 – 9/3/21

RANK NAME CHANGE YLD YLD-1W
1 Services: Consumer -23 bps 2.20% 2.43%
2 Chemicals, Plastics & Rubber -19 bps 1.26% 1.45%
3 Consumer Goods: Non-Durable -15 bps 0.86% 1.02%
4 Media: Diversified & Production -12 bps 1.02% 1.14%
5 Healthcare & Pharmaceuticals -9 bps 0.95% 1.04%
6 Transportation: Cargo -9 bps 1.39% 1.48%
7 Environmental Industries -7 bps 1.15% 1.22%
8 Insurance -5 bps 1.24% 1.29%
9 Energy: Oil & Gas -4 bps 1.78% 1.82%
10 Beverage, Food & Tobacco -4 bps 0.98% 1.02%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 8/27/21 – 9/3/21

RANK NAME CHANGE YLD YLD-1W
1 Containers, Packaging, & Glass 37 bps 1.33% 0.96%
2 Sovereign & Public Finance 33 bps 1.04% 0.71%
3 Hotel, Gaming & Leisure 27 bps 2.88% 2.61%
4 Banking 18 bps 1.30% 1.12%
5 Metals & Mining 16 bps 1.66% 1.49%
6 Consumer Goods: Durable 13 bps 1.11% 0.98%
7 Finance 12 bps 1.31% 1.19%
8 Capital Equipment 12 bps 0.83% 0.72%
9 Services: Business 11 bps 0.76% 0.65%
10 Forest Products & Paper 9 bps 0.97% 0.88%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 8/27/21 – 9/3/21

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 8/27/21 – 9/3/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 8/27/21 vs. the week ending 9/3/21

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ENELIM 1.375 7/12/2026 REGS 1.38% 07/12/26 57 136 79 139%
2 PRXNA 3.061 7/13/2031 REGS 3.06% 07/13/31 72 128 56 78%
3 AEMSPA 0.625 7/15/2031 0.63% 07/15/31 73 122 49 67%
4 CS 0.25 6/16/2028 0.25% 06/16/28 37 85 48 130%
5 PARHC 3.342 7/1/2060 3.34% 07/01/60 37 85 48 130%
6 BIDU 2.375 8/23/2031 2.38% 08/23/31 230 277 47 20%
7 PHILIP 0.875 5/17/2027 0.88% 05/17/27 143 188 45 31%
8 MRK 0.75 2/24/2026 0.75% 02/24/26 218 262 44 20%
9 HAFC 3.75 9/1/2031 3.75% 09/01/31 40 84 44 110%
10 RECLIN 2.75 1/13/2027 2.75% 01/13/27 88 132 44 50%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 8/27/21 – 9/3/21

RANK TRANCHE COUPON MATURITY DEALERS
1 AMZN 2.1 5/12/2031 2.10% 05/12/31 42
2 VZ 2.55 3/21/2031 2.55% 03/21/31 41
3 VZ 3.55 3/22/2051 3.55% 03/22/51 38
4 AMZN 1.65 5/12/2028 1.65% 05/12/28 38
5 AAPL 1.65 2/8/2031 1.65% 02/08/31 38
6 VZ 3.7 3/22/2061 3.70% 03/22/61 37
7 T 2.75 6/1/2031 2.75% 06/01/31 37
8 T 2.25 2/1/2032 2.25% 02/01/32 37
9 AMGN 2 1/15/2032 2.00% 01/15/32 36
10 INTC 1.6 8/12/2028 1.60% 08/12/28 36

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 8/27/21 – 9/3/21

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 8/27/21 – 9/3/21

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