Corporates
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Investment Grade Corporate Bond Market Summary:
Week Ending 10/1/21
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 9/24/21 – 10/1/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | NGGLN 2.037 2/15/2039 | 2.04% | 02/15/39 | 4.69% | 112.50 | 107.46 |
| 2 | TELEFO 4 12/28/2051 | 4.00% | 12/28/51 | 3.59% | 141.75 | 136.84 |
| 3 | PFGLN 7 6/4/2023 | 7.00% | 06/04/23 | 2.22% | 104.38 | 102.12 |
| 4 | GRAVAS 4.781 9/30/2039 | 4.78% | 09/30/39 | 1.91% | 133.55 | 131.05 |
| 5 | KMB 6.375 1/1/2028 | 6.38% | 01/01/28 | 1.87% | 127.69 | 125.34 |
| 6 | BACA 0 8/20/2033 | 0.00% | 08/20/33 | 1.80% | 88.68 | 87.11 |
| 7 | RUSSIA 7.5 3/31/2030 | 7.50% | 03/31/30 | 1.60% | 116.17 | 114.35 |
| 8 | NEE 5.1 10/1/2040 | 5.10% | 10/01/40 | 1.52% | 120.25 | 118.44 |
| 9 | TLGRAM 7 3/22/2026 | 7.00% | 03/22/26 | 1.52% | 99.26 | 97.77 |
| 10 | CCNORD 4.25 6/27/2026 | 4.25% | 06/27/26 | 1.52% | 114.70 | 112.98 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 9/24/21 – 10/1/21
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | ADJGR 2.25 1/14/2029 | 2.25% | 01/14/29 | -8.58% | 79.46 | 86.91 |
| 2 | OXUNIV 2.544 12/8/2117 | 2.54% | 12/08/17 | -6.88% | 118.41 | 127.15 |
| 3 | LZINVE 4.15 11/15/2022 | 4.15% | 11/15/22 | -6.75% | 90.90 | 97.48 |
| 4 | PPL 1.541 12/1/2056 | 1.54% | 12/01/56 | -5.96% | 192.51 | 204.72 |
| 5 | BLNFND 2.467 6/16/2061 | 2.47% | 06/16/61 | -5.65% | 99.76 | 105.74 |
| 6 | WALLOO 1.865 5/10/2051 | 1.87% | 05/10/51 | -5.45% | 111.45 | 117.87 |
| 7 | ADM 6.95 12/15/2097 | 6.95% | 12/15/97 | -5.28% | 178.92 | 188.89 |
| 8 | WELLTR 1.5 7/14/2071 | 1.50% | 07/14/71 | -4.94% | 90.44 | 95.14 |
| 9 | BTPCL 5.1 7/15/2050 | 5.10% | 07/15/50 | -4.91% | 89.30 | 93.92 |
| 10 | ETLFP 2.25 7/13/2027 | 2.25% | 07/13/27 | -4.85% | 104.18 | 109.49 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 9/24/21 – 10/1/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Media: Advertising, Printing & Publishing | -63 bps | 0.40% | 1.03% |
| 2 | Media: Diversified & Production | -21 bps | 1.29% | 1.49% |
| 3 | Consumer Goods: Durable | -19 bps | 0.85% | 1.04% |
| 4 | Consumer Goods: Non-Durable | -13 bps | 1.03% | 1.16% |
| 5 | Construction & Building | -9 bps | 0.88% | 0.96% |
| 6 | Services: Business | -8 bps | 0.82% | 0.90% |
| 7 | Beverage, Food & Tobacco | -8 bps | 1.06% | 1.14% |
| 8 | Transportation: Cargo | -8 bps | 1.29% | 1.37% |
| 9 | Environmental Industries | -5 bps | 1.31% | 1.35% |
| 10 | Wholesale | -5 bps | 1.38% | 1.43% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 9/24/21 – 10/1/21
| RANK | NAME | CHANGE | YLD | YLD-1W |
| 1 | Containers, Packaging, & Glass | 53 bps | 1.56% | 1.03% |
| 2 | Media: Broadcasting & Subscription | 37 bps | 1.86% | 1.49% |
| 3 | Utilities: Oil & Gas | 19 bps | 1.64% | 1.45% |
| 4 | Metals & Mining | 15 bps | 1.84% | 1.69% |
| 5 | Utilities: Electric | 12 bps | 1.45% | 1.32% |
| 6 | Sovereign & Public Finance | 12 bps | 1.11% | 0.98% |
| 7 | Insurance | 12 bps | 1.48% | 1.36% |
| 8 | High Tech Industries | 11 bps | 1.30% | 1.19% |
| 9 | Energy: Electricity | 10 bps | 1.24% | 1.14% |
| 10 | Capital Equipment | 7 bps | 1.01% | 0.94% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/24/21 – 10/1/21
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 9/24/21 – 10/1/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/24/21 vs. the week ending 10/1/21
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | EXC 2.75 9/1/2051 | 2.75% | 09/01/51 | 5 | 142 | 137 | 2740% |
| 2 | DAVIVI 6.65 PERP REGS | 6.65% | 10/22/99 | 35 | 166 | 131 | 374% |
| 3 | TMUS 2.25 11/15/2031 | 2.25% | 11/15/31 | 156 | 279 | 123 | 79% |
| 4 | RPRX 1.2 9/2/2025 | 1.20% | 09/02/25 | 53 | 147 | 94 | 177% |
| 5 | EXPE 2.95 3/15/2031 | 2.95% | 03/15/31 | 82 | 156 | 74 | 90% |
| 6 | OPBANK 0.375 12/8/2028 | 0.38% | 12/08/28 | 142 | 202 | 60 | 42% |
| 7 | SHIMAO 5.2 1/16/2027 | 5.20% | 01/16/27 | 135 | 190 | 55 | 41% |
| 8 | AMT 2.95 1/15/2051 | 2.95% | 01/15/51 | 287 | 339 | 52 | 18% |
| 9 | DEKA 6 PERP | 6.00% | 12/29/49 | 13 | 60 | 47 | 362% |
| 10 | WHR 4.5 6/1/2046 | 4.50% | 06/01/46 | 150 | 190 | 40 | 27% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/24/21 – 10/1/21
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | ORCL 2.875 3/25/2031 | 2.88% | 03/25/31 | 39 |
| 2 | IBM 1.95 5/15/2030 | 1.95% | 05/15/30 | 38 |
| 3 | VZ 2.55 3/21/2031 | 2.55% | 03/21/31 | 37 |
| 4 | AAPL 1.4 8/5/2028 | 1.40% | 08/05/28 | 36 |
| 5 | T 2.25 2/1/2032 | 2.25% | 02/01/32 | 36 |
| 6 | ORCL 3.6 4/1/2050 | 3.60% | 04/01/50 | 36 |
| 7 | AMZN 1.65 5/12/2028 | 1.65% | 05/12/28 | 36 |
| 8 | INTC 1.6 8/12/2028 | 1.60% | 08/12/28 | 36 |
| 9 | WMT 1.8 9/22/2031 | 1.80% | 09/22/31 | 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 9/24/21 – 10/1/21
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 9/24/21 – 10/1/21
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