Corporates

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Investment Grade Corporate Bond Market Summary:
Week Ending 1/21/22

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 1/14/22 – 1/21/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 COGARD 2.7 7/12/2026 2.70% 07/12/26 17.68% 83.36 70.84
2 SINOCE 4.75 1/14/2030 4.75% 01/14/30 6.88% 80.87 75.67
3 ATVI 2.5 9/15/2050 2.50% 09/15/50 5.42% 87.89 83.37
4 LLOYDS 2 7/21/2028 2.00% 07/21/28 4.92% 104.52 99.62
5 NRW 0.95 1/10/2121 0.95% 01/10/21 4.24% 78.90 75.68
6 LNGFOR 3.85 1/13/2032 3.85% 01/13/32 3.51% 94.74 91.53
7 TMO 2 10/18/2051 2.00% 10/18/51 3.24% 103.30 100.05
8 LWFLLC 5.559 7/15/2030 5.56% 07/15/30 3.21% 107.43 104.10
9 MDT 1.625 10/15/2050 1.63% 10/15/50 3.20% 99.21 96.13
10 LLY 1.375 9/14/2061 1.38% 09/14/61 2.32% 89.77 87.73

Top 10 Losers

Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 1/14/22 – 1/21/22

RANK BOND NAME COUPON MATURITY CHANGE PX PX-1W
1 BRKHEC 5.9 8/15/2034 5.90% 08/15/34 -6.34% 118.74 126.79
2 EDF 5.25 10/13/2055 5.25% 10/13/55 -4.72% 119.81 125.74
3 GENMMK 3.882 4/19/2031 REGS 3.88% 04/19/31 -3.81% 91.74 95.37
4 BASINE 4.75 4/26/2047 4.75% 04/26/47 -3.77% 115.81 120.34
5 GUARDN 3.7 1/22/2070 REGS 3.70% 01/22/70 -3.76% 100.15 104.07
6 RURAIL 0.84 3/12/2026 0.84% 03/12/26 -3.75% 95.22 98.92
7 TSINGH 4.75 1/31/2021 4.75% 01/31/21 -3.67% 66.12 68.64
8 RUSSIA 1.85 11/20/2032 1.85% 11/20/32 -3.65% 92.24 95.74
9 AMFAHI 3.833 3/11/2051 REGS 3.83% 03/11/51 -3.43% 103.36 107.03
10 NYPRES 4.063 8/1/2056 4.06% 08/01/56 -3.37% 120.00 124.18

Top 10 Industry Winners

Showcases the top 10 IG industry “winners” based on the largest yield increases between 1/14/22 – 1/21/22

RANK NAME CHANGE YLD YLD-1W
1 Services: Consumer -22 bps 2.81% 3.03%
2 Hotel, Gaming & Leisure -15 bps 2.42% 2.57%
3 Consumer Goods: Durable -10 bps 1.10% 1.20%
4 Media: Diversified & Production -4 bps 2.03% 2.07%
5 Real Estate -2 bps 2.23% 2.24%
6 Transportation: Cargo -2 bps 1.97% 1.99%
7 Media: Advertising, Printing & Publishing 1 bps 1.17% 1.16%
8 Capital Equipment 1 bps 1.53% 1.52%
9 Construction & Building 2 bps 1.55% 1.54%
10 Insurance 3 bps 1.96% 1.93%

Top 10 Industry Losers

Showcases the top 10 IG industry “losers” based on the largest yield decreases between 1/14/22 – 1/21/22

RANK NAME CHANGE YLD YLD-1W
1 Sovereign & Public Finance 47 bps 1.84% 1.37%
2 Containers, Packaging, & Glass 23 bps 1.82% 1.59%
3 Aerospace & Defense 18 bps 2.21% 2.03%
4 Forest Products & Paper 16 bps 1.51% 1.36%
5 Finance 15 bps 1.90% 1.75%
6 Utilities: Water 14 bps 1.44% 1.30%
7 Banking 13 bps 1.62% 1.50%
8 Chemicals, Plastics & Rubber 12 bps 1.75% 1.63%
9 Services: Business 12 bps 1.43% 1.32%
10 Transportation: Consumer 11 bps 2.40% 2.29%

5 Year Yield By Industry

Displays the average IG Corp 5 year yield by industry between 1/14/22 – 1/21/22

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 1/14/22 – 1/21/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the IG Corps with the largest increase in quote volume for the week ending 1/14/22 vs. the week ending 1/21/22

RANK TRANCHE COUPON MATURITY PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BPCEGP 3.648 1/14/2037 REGS 3.65% 01/14/37 107 221 114 107%
2 BPCEGP 1.625 1/14/2025 REGS 1.63% 01/14/25 90 170 80 89%
3 ATVI 2.5 9/15/2050 2.50% 09/15/50 239 308 69 29%
4 EIBKOR 2.125 1/18/2032 2.13% 01/18/32 97 158 61 63%
5 DLR 1.375 7/18/2032 1.38% 07/18/32 68 124 56 82%
6 DTRGR 2.5 12/14/2031 144A 2.50% 12/14/31 145 198 53 37%
7 HKAA 3.5 1/12/2062 REGS 3.50% 01/12/62 116 168 52 45%
8 ATH 0.832 1/8/2027 0.83% 01/08/27 60 110 50 83%
9 TGT 3.375 4/15/2029 3.38% 04/15/29 217 265 48 22%
10 BPCEGP 1 1/14/2032 1.00% 01/14/32 160 205 45 28%

Most Quoted IG Corps

Ranks the IG Corps that were quoted by the highest number of dealers between 1/14/22 – 1/21/22

RANK TRANCHE COUPON MATURITY DEALERS
1 ORCL 2.875 3/25/2031 2.88% 03/25/31 43
2 ORCL 3.95 3/25/2051 3.95% 03/25/51 40
3 AMZN 2.1 5/12/2031 2.10% 05/12/31 39
4 VZ 2.55 3/21/2031 2.55% 03/21/31 39
5 T 2.25 2/1/2032 2.25% 02/01/32 39
6 VZ 3.55 3/22/2051 3.55% 03/22/51 39
7 T 2.75 6/1/2031 2.75% 06/01/31 38
8 DIS 3.6 1/13/2051 3.60% 01/13/51 37
9 AMZN 1.65 5/12/2028 1.65% 05/12/28 37
10 ORCL 3.6 4/1/2050 3.60% 04/01/50 37

Bid-Offer Spread by Industry

Displays the IG Corp average bid-offer spread by industry between 1/14/22 – 1/21/22

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 1/14/22 – 1/21/22

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