CREDIT MARKETS

Treasuries:  

Treasuries turned lower Friday, pushing yields up, as equities climbed steadily higher on the first trading day of 2009.  U.S. debt had gained earlier after a private report said manufacturing in the U.S. contracted more than predicted last month.  The Institute for Supply Management’s index of manufacturing activity declined to 32.4 percent in December, from 36.2 percent in the previous month, the fifth monthly drop and the lowest in more than 20 years.  The dollar gained for a third day against the yen after falling 19 percent against Japan’s currency in 2008.  The curve was slanted well steeper with the 2-10 year yield spread running at 154.  Next week offers up a more legitimate week for trade, with a batch of (likely bad) data on the calendar culminating in Friday’s payroll report which economists are calling near a loss of 500K.

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Commentary/New Issues 

Corporate: 
Nothing

ABS: 
Nothing

Agency: 
Nothing

New Issues larger than $250mm.   The fixed income offerings mentioned above are for informational purposes only. Toussaint Capital Partners, LLC, member NASD/SIPC, and/or its affiliates may be a participant in the offerin mentioned and therefore offerings will be subject to availability.
All statistical data is sourced from Bloomberg Financial Markets