The 20 most liquid issuers by weekly turnover in the USD IG market

Goldman Sachs analysts listed the top 20 most liquid companies, measured by weekly turnover, in the U.S. dollar investment grade market.

• Tapestry Inc. (TPR) – Notional bonds outstanding: $5B; Weekly turnover ratio: 3.3%; Average duration of bonds outstanding: 4.4 years
• Intel Corp. (INTC) – Notional bonds outstanding: $45.8B; Weekly turnover ratio: 2%; Average duration of bonds outstanding: 9.8 years
• The Estee Lauder Companies Inc. (EL) – Notional bonds outstanding: $6.3B; Weekly turnover ratio: 1.7%; Average duration of bonds outstanding: 8 years
• Sands China Ltd. (OTCPK:SCHYY) – Notional bonds outstanding: $7.1B; Weekly turnover ratio: 1.4%; Average duration of bonds outstanding: 3 years
• KeyBank NA [Not covered] – Notional bonds outstanding: $9.7B; Weekly turnover ratio: 1.4%; Average duration of bonds outstanding: 4 years
• Warner Bros Discovery (WBD) – Notional bonds outstanding: $33B; Weekly turnover ratio: 1.4%; Average duration of bonds outstanding: 8.2 years
• Diamondback Energy Inc. (FANG) – Notional bonds outstanding: $11.4B; Weekly turnover ratio: 1.4%; Average duration of bonds outstanding: 8.9 years
• Tyson Foods Inc. (TSN) – Notional bonds outstanding: $7.9B; Weekly turnover ratio: 1.3%; Average duration of bonds outstanding: 7.4 years
• AutoZone Inc. (AZO) – Notional bonds outstanding: $5.6B; Weekly turnover ratio: 1.3%; Average duration of bonds outstanding: 5.6 years
• Mondelez International Inc. (MDLZ) – Notional bonds outstanding: $5.6B; Weekly turnover ratio: 1.2%; Average duration of bonds outstanding: 7.2 years
• Vale Overseas Ltd. (VALE) – Notional bonds outstanding: $6.6B; Weekly turnover ratio: 1.2%; Average duration of bonds outstanding: 8.2 years
• United Parcel Service Inc. (UPS) – Notional bonds outstanding: $14.5B; Weekly turnover ratio: 1.2%; Average duration of bonds outstanding: 10.7 years
• Sysco Corp. (SYY) – Notional bonds outstanding: $9B; Weekly turnover ratio: 1.2%; Average duration of bonds outstanding: 8.2 years
• Micron Technology Inc. (MU) – Notional bonds outstanding: $9.5B; Weekly turnover ratio: 1.1%; Average duration of bonds outstanding: 5.7 years
• Fox Corp. (FOXA) – Notional bonds outstanding: $6.7B; Weekly turnover ratio: 1.1%; Average duration of bonds outstanding: 7.9 years
• Waste Management Inc. (WM) – Notional bonds outstanding: $9.7B; Weekly turnover ratio: 1.1%; Average duration of bonds outstanding: 6.4 years
• Santander Holdings USA Inc. (SAN) – Notional bonds outstanding: $7.7B; Weekly turnover ratio: 1.1%; Average duration of bonds outstanding: 3.2 years
• CVS Health Corp. (CVS) – Notional bonds outstanding: $54.2B; Weekly turnover ratio: 1.1%; Average duration of bonds outstanding: 8.2 years
• Humana Inc. (HUM) – Notional bonds outstanding: $11.2B; Weekly turnover ratio: 1.1%; Average duration of bonds outstanding: 7.1 years
• McDonald’s Corp. (MCD) – Notional bonds outstanding: $22.4B; Weekly turnover ratio: 1%; Average duration of bonds outstanding: 8.6 years