Corporates

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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.

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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