TEAM – Base Case iCDS 17bps
Negative Case iCDS 50bps, 2029 5.250% Bond YTW of 4.872%, iYTW of 3.834%
Baa2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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March 27, 2026
APP – Base Case iCDS 13bps
Negative Case iCDS 17bps, 2031 5.375% Bond YTW of 4.854%, iYTW of 3.825%
Baa3 Rating from Moody’s, IG2+ (equivalent to Aa1) Rating from Valens
Low Refinancing Need...
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March 26, 2026
CRWD – Base Case iCDS 25bps,
Negative Case iCDS 94bps, 2029 3.000% Bond YTW of 5.020%, iYTW of 4.006%,
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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March 26, 2026
CIEN – Base Case iCDS 38bps,
Negative Case iCDS 77bps, 2030 4.000% Bond YTW of 5.107%, iYTW of 4.188%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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March 25, 2026
Featured Top Idea
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XYZ – Block, Inc.
Action: Buy 2031 3.500% Bonds CUSIP: 852234AM5 (5.428% YTW, 4.523% iYTW)... -
March 24, 2026
XYZ – Base Case iCDS 65bps,
Negative Case iCDS 113bps, 2031 3.500% Bond YTW of 5.428%, iYTW of 4.523%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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March 11, 2026
Featured Top Idea
ON – ON Semiconductor CorporationAction: Buy 2028 3.875% Bonds CUSIP: 682189AQ8 (4.803% YTW, 3.996% iYTW)
March 11, 2026
March 4, 2026
ON – Base Case iCDS 53bps,
Negative Case iCDS 70bps 2028 3.875% Bond YTW of 4.803%, iYTW of 3.996%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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March 4, 2026
Featured Top Idea
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RCL – Royal Caribbean Cruises Ltd.
Action: Buy 2032 6.250% Bonds CUSIP: 780153BU5 (4.774% YTW, 3.924% iYTW)...
March 2, 2026
RCL – Base Case CDS 70bps, Base Case iCDS 27bps,
Negative Case iCDS 43bps, 2032 6.250% Bond YTW of 4.774%, iYTW of 3.924%,
Baa2 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens,
Low Refinancing Need...
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February 11, 2026
Featured Top Idea
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DFH – Dream Finders Homes Inc.
Action: Close Trade: 2030 6.875% Bonds CUSIP: 26154DAB6...
February 4, 2026
Featured Top Idea
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HLX – Helix Energy Solutions Group, Inc.
Action: Buy 2029 9.750% Bond CUSIP: 42330PAL (7.055% YTW, 6.256% iYTW)...
January 21, 2026
Featured Top Idea
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WMS – Advanced Drainage Systems, Inc.
Action: Buy 2030 4.000% Bonds CUSIP: 00790RAB0 (4.922% YTW, 4.546% iYTW)...
January 21, 2026
F – Base Case iCDS 78bps,
Negative Case iCDS 268bps, 2031 7.450% Bond YTW of 5.157%, iYTW of 4.541%,
Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens,
Low Refinancing Need...
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January 21, 2026
SWKS – Base Case iCDS 91bps,
Negative Case iCDS 153bps, 2031 3.000% Bond YTW of 5.058%, iYTW of 4.677%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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January 14, 2026
Featured Top Idea
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XYZ – Block Inc.
Action: Buy 2031 3.500% Bonds CUSIP: 852234AM5 (4.872% YTW, 4.438% iYTW)...
January 8, 2026
Featured Top Idea
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CIEN – Ciena Corporation
Action: Buy 2030 4.000% Bonds, CUSIP: 171779AL5 (5.069% YTW, 4.150% iYTW)...
December 29, 2025
CIEN – Base Case iCDS 49bps
Negative Case iCDS 87bps, 2030 4.000% Bond YTW of 5.069%, iYTW of 4.150%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
Read More
December 17, 2025
Featured Top Idea
AR – Antero Resources CorporationAction: Buy 2030 5.375% Bonds CUSIP: 03674XAS5 (5.023% YTW, 4.421% iYTW)...
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