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Top Insights of the Week:
Ending 11/12/21

Top weekly insights from Solve Advisors’ Bank Loans, Municipal Bond, and Corporate Bond market summaries.

In this week’s market summaries, SolveQuotes composite data showed that Beverage, Food & Tobacco is this week’s top performing industry, up .33% showing growth this past month despite increasing demand and Wells Fargo decreased 2.7% given the company’s meager dividend payouts and limited upside compared to other bank stocks. Read below for more weekly insights within the Bank Loan, Municipal Bond, and Corporate Bond markets.

Bank Loan Market Summary

MITEL NETWORKS 2ND LIEN TL is this week’s winner, up 23.4% from $63.94 to $78.91 as the telecommunications company offers insight into their new private cloud migration software.

NSO GROUP TL is this week’s loser, down -8.1% from $76.34 to $70.19 after the security company’s blacklisting by the U.S. Commerce Department due to their sale of of spyware to governments that used the equipment to target government officials and journalists.

Beverage, Food & Tobacco is this week’s top performing industry, up .33% showing growth this past month despite increasing demand, hiring challenges and labor turnover.

Municipal Bond Market Summary

NJ INFRASTRUCTURE BK is this week’s top performer, up 4.37% from $92.31 to $96.35 with congress set to vote on two major infrastructure spending bills this week which would include funding for several projects including those in infrastructure, childcare, and health care in the state.

CALIFORNIA ST DEPT OF WTR RESO is this week’s loser, down -1.46% from $98.50 to $97.06 after declaring a state of emergency as nearly half of all California residents experience regional drought.

New Jersey Transportation Trust Fund Authority ranked on the quote volume list this past week, increasing from 58 to 100 quotes following the announcement that a deal has been struck to create a nine-mile Greenway in the northern region of the state.

IG & HY Corporate Bond Summary

Coca-Cola (KO) increased 4.1% from $189.01 to $196.74 last week after buying full control of Bodyarmor for $5.6 billion in its largest brand acquisition in history.

Wells Fargo (WFC) decreased 2.7% from $118.43 to $115.28 given the company’s meager dividend payouts and limited upside compared to other bank stocks.

Containers, Packaging, and Glass was the top performing industry last week with yields dropping 15 bps chiefly driven by a significant rise in demand for packaging across all industries.

Sinclair’s Diamond Sports Group (DSPORT) increased 32.8% from $24.38 to $32.37 last week given swings to company profits last quarter and continued recovery across the advertising landscape.

Kaisa Group Holdings (KAISAG) decreased 20.9% from $52.08 to $41.20 last week as China’s developer bond slump deepens.

The Business Services industry was the top performing industry with overall prices up 1.2% given the continued pace of expansion of business activity across the Eurozone, boosted by looser pandemic restrictions and higher vaccination rates.

To view the most recent Corporate Bond Market Summaries: Investment Grade or High Yield

If you’d like further color or analysis, please reach out to efeltkamp@solveadvisors.com

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