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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.

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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 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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