F – Base Case iCDS 96bps, Negative Case iCDS 181bps
2031 7.450% Bond YTW of 5.791%, iYTW of 4.994%
Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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July 17, 2025
SWKS – Base Case iCDS 75bps,
Negative Case iCDS 104bps, 2031 3.000% Bond YTW of 5.385%, iYTW of 4.734%,
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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July 17, 2025
UAA – Base Case CDS 269bps, Base Case iCDS 168bps,
Negative Case iCDS 224bps, 2030 7.250% Bond YTW of 6.947%, iYTW of 5.611%,
Ba3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need...
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July 16, 2025
Featured Top Idea
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MUR – Murphy Oil Corporation
Action: Close Trade: 2028 6.375% Bonds CUSIP: 626717AN2
2029 7.050% Bonds CUSIP: 626717AA0... -
July 11, 2025
MUR – Base Case iCDS 212bps,
Negative Case iCDS 322bps, 2029 7.050% Bond YTW of 6.132%,
iYTW of 6.081%, Ba2 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens,
Low Refinancing Need
...
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July 9, 2025
Featured Top Idea
NRG – NRG Energy Inc.Action: Buy 2028 5.750% Bonds CUSIP: 629377CE0 (5.153% YTW, 4.219% iYTW)
Buy 2029 3.375% Bonds CUSIP: 629377CQ3 (5.411% YTW, 4.292% iYTW)
Buy 2029 5.250% Bonds CUSIP: 629377CH3 (5.619% YTW, 4.292% iYTW)
Buy 2031 3.625% Bonds CUSIP: 629377CR1 (5.496% YTW, 4.292% iYTW)...
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July 2, 2025
Featured Top Idea
CRWD – CrowdStrike Holdings, Inc.Action: Buy 2029 3.000% Bonds CUSIP: 22788CAA3 (5.037% YTW, 4.348% iYTW)
June 23, 2025
NRG – CDS 90bps, iCDS 28bps,
Negative Case iCDS 41bps, 2028 5.750% Bond YTW of 5.153%, iYTW of 4.219%,
Ba1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens,
Low Refinancing Need...
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June 23, 2025
XYZ – Base Case iCDS 71bps,
Negative Case iCDS 100bps, 2031 3.500% Bond YTW of 5.391%, iYTW of 4.756%,
Ba2 Rating from Moody’s, IG3+ (equivalent to A1) Rating from Valens,
Low Refinancing Need...
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June 18, 2025
Featured Top Idea
ON – ON Semiconductor CorporationAction: Buy 2028 3.875% Bonds CUSIP: 682189AQ8 (5.581% YTW, 4.600% iYTW) 
June 18, 2025
June 17, 2025
BRBR – Base Case iCDS 105bps
Negative Case iCDS 167bps, 2030 7.000% Bond YTW of 5.780%, iYTW of 5.058%
B1 Rating from Moody’s, IG4 (equivalent to Baa2) Rating from Valens
Low Refinancing Need...
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June 13, 2025
CRWD – Base Case iCDS 25bps
Negative Case iCDS 81bps, 2029 3.000% Bond YTW of 5.037%, iYTW of 4.348%
Baa3 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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June 11, 2025
Featured Top Idea
WMS – Advanced Drainage Systems, Inc.Action: Buy 2030 6.375% Bonds CUSIP: 00790RAB0 (5.840% YTW, 5.045% iYTW)
June 9, 2025
AMCX – Base Case iCDS 660bps
Negative Case iCDS 741bps, 2029 4.250% Bond YTW of 12.342%, iYTW of 10.567%
B2 Rating from Moody’s, XO (equivalent to Baa3) Rating from Valens
Moderate Refinancing Need...
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June 4, 2025
Featured Top Idea
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MU – Micron Technology, Inc.
Action: Buy 2029 6.750% Bonds CUSIP: 595112BV4 (5.120% YTW, 4.253% iYTW)
Buy 2030 4.663% Bonds CUSIP: 595112BQ5 (5.182% YTW, 4.372% iYTW)
Buy 2031 5.300% Bonds CUSIP: 595112CD3 (5.286% YTW, 4.372% iYTW)...
June 2, 2025
ON – Base Case iCDS 65bps
Negative Case iCDS 92bps 2028 3.875% Bond YTW of 5.581%, iYTW of 4.600%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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May 28, 2025
Featured Top Idea
CRS – Carpenter Technology CorporationAction: Buy 2030 7.625% Bonds CUSIP: 144285AM5 (5.816% YTW, 4.759% iYTW)...
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May 23, 2025
AR – Base Case CDS 112bps, Base Case iCDS 90bps
Negative Case iCDS 98bps, 2029 7.625% Bond YTW of 5.640%, iYTW of 4.875%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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May 23, 2025
WMS – Base Case iCDS 107bps
Negative Case iCDS 128bps, 2030 6.375% Bond YTW of 5.840%, iYTW of 5.045%
Ba1 Rating from Moody’s, IG4+ (equivalent to Baa1) Rating from Valens
Low Refinancing Need...
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