Corporates
GET OUR CORPORATE MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Investment Grade Corporate Bond Market Summary:
Week Ending 9/30/22
Our newsletter presents key trends derived from observable Corporate Bond pricing data over a weekly period.
New Issues
IG Corp bond new issues for the week ending 9/30/22, issue size of $50 million and larger
| ISSUE | COLLATERAL TYPE | AMT ISSUED (MM) | PX AT ISSUANCE | YIELD AT ISSUANCE (%) | SPREAD AT ISSUE |
| Atmos Energy Corp. (USD) 5.45% 10/15/2032 | Senior Notes | 300 | 99.776 | 5.48 | 152 |
| UMB Financial Corp. (USD) 6.25% 9/28/2032 | Subordinated Notes | 110 | 100 | 6.25 | 230 |
| WEC Energy Group Inc. (USD) 5.15% 10/1/2027 | Senior Notes | 400 | 99.794 | 5.2 | 128 |
| Ohio Edison Co. (USD) 5.5% 1/15/2033 | N/A | 300 | 99.791 | 5.53 | 185 |
Top 10 Winners
Showcases the top 10 IG Corp “winners” based on the largest bid price increases between 9/23/22 – 9/30/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | OXUNIV 2.544 12/8/2017 | 2.54% | 12/08/17 | 7.76% | 56.05 | 52.01 |
| 2 | UNCOLO 1.625 6/4/2061 | 1.63% | 06/04/61 | 6.46% | 50.47 | 47.41 |
| 3 | CAMBRG 2.35 6/27/2078 | 2.35% | 06/27/78 | 6.03% | 59.50 | 56.11 |
| 4 | TRANLN 4 4/7/2064 | 4.00% | 04/07/64 | 4.09% | 76.40 | 73.40 |
| 5 | ISLMAN 1.625 9/14/2051 | 1.63% | 09/14/51 | 3.32% | 52.11 | 50.44 |
| 6 | AIG 3.75 7/10/2025 | 3.75% | 07/10/25 | 3.18% | 99.89 | 96.81 |
| 7 | JERSEY 3.75 6/9/2054 | 3.75% | 06/09/54 | 3.13% | 85.36 | 82.77 |
| 8 | WELLTR 4 5/9/2059 | 4.00% | 05/09/59 | 2.83% | 91.42 | 88.90 |
| 9 | VW 0.875 4/12/2023 | 0.88% | 04/12/23 | 2.82% | 98.70 | 95.99 |
| 10 | TMO FLT 11/18/2023 | 1.36% | 11/18/23 | 2.60% | 99.62 | 97.10 |
Top 10 Losers
Showcases the top 10 IG Corp “losers” based on the largest bid price decreases between 9/23/22 – 9/30/22
| RANK | BOND NAME | COUPON | MATURITY | CHANGE | PX | PX-1W |
| 1 | SINOCE 5.95 2/4/2027 | 5.95% | 02/04/27 | -26.90% | 26.97 | 36.89 |
| 2 | ARNDTN 2.875 PERP | 2.88% | 07/11/99 | -16.05% | 65.60 | 78.14 |
| 3 | ADJGR 1.875 1/14/2026 | 1.88% | 01/14/26 | -14.11% | 50.98 | 59.36 |
| 4 | SVTLN 1.626 8/11/2051 | 1.63% | 08/11/51 | -13.40% | 85.80 | 99.08 |
| 5 | SHUION 5.5 6/29/2026 | 5.50% | 06/29/26 | -13.18% | 59.23 | 68.22 |
| 6 | ENFRAG 5.375 12/30/2030 REGS | 5.38% | 12/30/30 | -13.03% | 59.18 | 68.04 |
| 7 | ROMANI 4 2/14/2051 144A | 4.00% | 02/14/51 | -12.71% | 54.28 | 62.18 |
| 8 | KSS 6.875 12/15/2037 | 6.88% | 12/15/37 | -12.71% | 69.82 | 79.98 |
| 9 | SCOR 5.25 PERP | 5.25% | 03/13/99 | -12.49% | 69.06 | 78.91 |
| 10 | ALVGR 3.875 PERP | 3.88% | 12/31/49 | -11.91% | 60.48 | 68.65 |
Top 10 Industry Winners
Showcases the top 10 IG industry “winners” based on the largest yield increases between 9/23/22 – 9/30/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Metals & Mining | -49 bps | 5.82% | 6.32% |
| 2 | Consumer Goods: Non-Durable | 14 bps | 4.70% | 4.55% |
| 3 | Telecommunications | 17 bps | 4.93% | 4.76% |
| 4 | High Tech Industries | 19 bps | 5.42% | 5.23% |
| 5 | Forest Products & Paper | 19 bps | 4.93% | 4.74% |
| 6 | Wholesale | 20 bps | 5.10% | 4.90% |
| 7 | Environmental Industries | 23 bps | 5.05% | 4.82% |
| 8 | Media: Broadcasting & Subscription | 25 bps | 5.67% | 5.42% |
| 9 | Media: Advertising, Printing & Publishing | 25 bps | 5.88% | 5.64% |
| 10 | Energy: Oil & Gas | 26 bps | 6.22% | 5.96% |
Top 10 Industry Losers
Showcases the top 10 IG industry “losers” based on the largest yield decreases between 9/23/22 – 9/30/22
| RANK | INDUSTRY | CHANGE | YLD | YLD-1W |
| 1 | Transportation: Cargo | 158 bps | 8.97% | 7.39% |
| 2 | Capital Equipment | 99 bps | 5.42% | 4.42% |
| 3 | Transportation: Consumer | 98 bps | 6.86% | 5.89% |
| 4 | Sovereign & Public Finance | 97 bps | 5.24% | 4.27% |
| 5 | Containers, Packaging, & Glass | 77 bps | 6.08% | 5.31% |
| 6 | Construction & Building | 64 bps | 5.50% | 4.87% |
| 7 | Services: Business | 63 bps | 5.39% | 4.76% |
| 8 | Real Estate | 61 bps | 6.93% | 6.32% |
| 9 | Chemicals, Plastics & Rubber | 59 bps | 5.87% | 5.28% |
| 10 | Finance | 56 bps | 5.64% | 5.08% |
5 Year Yield By Industry
Displays the average IG Corp 5 year yield by industry between 9/23/22 – 9/30/22
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 9/23/22 – 9/30/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the IG Corps with the largest increase in quote volume for the week ending 9/23/22 vs. the week ending 9/30/22
| RANK | TRANCHE | COUPON | MATURITY | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | GYCGR 1.5 PERP | 1.50% | 06/09/99 | 23 | 116 | 93 | 404% |
| 2 | CMCSA 2.987 11/1/2063 | 2.99% | 11/01/63 | 137 | 206 | 69 | 50% |
| 3 | CMCSA 2.887 11/1/2051 | 2.89% | 11/01/51 | 151 | 198 | 47 | 31% |
| 4 | D 8.875 11/15/2038 | 8.88% | 11/15/38 | 67 | 113 | 46 | 69% |
| 5 | D 4.2 5/15/2045 | 4.20% | 05/15/45 | 62 | 105 | 43 | 69% |
| 6 | PYPL 3.9 6/1/2027 | 3.90% | 06/01/27 | 217 | 259 | 42 | 19% |
| 7 | D 2.95 11/15/2051 | 2.95% | 11/15/51 | 208 | 248 | 40 | 19% |
| 8 | BRKHEC 3.15 4/15/2050 | 3.15% | 04/15/50 | 168 | 208 | 40 | 24% |
| 9 | NSC 3.155 5/15/2055 | 3.16% | 05/15/55 | 207 | 246 | 39 | 19% |
| 10 | LITHUN 0.75 5/6/2030 | 0.75% | 05/06/30 | 57 | 95 | 38 | 67% |
Most Quoted IG Corps
Ranks the IG Corps that were quoted by the highest number of dealers between 9/23/22 – 9/30/22
| RANK | TRANCHE | COUPON | MATURITY | DEALERS |
| 1 | AAPL 3.95 8/8/2052 | 3.95% | 08/08/52 | 39 |
| 2 | LOW 3.75 4/1/2032 | 3.75% | 04/01/32 | 39 |
| 3 | INTC 4.15 8/5/2032 | 4.15% | 08/05/32 | 38 |
| 4 | DIS 2.65 1/13/2031 | 2.65% | 01/13/31 | 37 |
| 5 | WMT 1.8 9/22/2031 | 1.80% | 09/22/31 | 36 |
| 6 | VZ 3.55 3/22/2051 | 3.55% | 03/22/51 | 36 |
| 7 | LOW 5 4/15/2033 | 5.00% | 04/15/33 | 36 |
| 8 | TGT 4.5 9/15/2032 | 4.50% | 09/15/32 | 36 |
| 9 | DIS 3.6 1/13/2051 | 3.60% | 01/13/51 | 36 |
| 10 | ORCL 3.95 3/25/2051 | 3.95% | 03/25/51 | 36 |
Bid-Offer Spread by Industry
Displays the IG Corp average bid-offer spread by industry between 9/23/22 – 9/30/22
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 9/23/22 – 9/30/22
Stay up-to-date with weekly summaries.
