CREDIT MARKETS

Treasuries:
Treasury prices headed for a weekly slide as U.S. equities posted impressive gains, indicating investors are more willing to take on more risk than U.S. debt. Treasuries are headed for a loss on the week, with 10-year yields up from 2.83 percent and 2-year yields up from 0.92 percent last Friday. The Standard & Poor’s 500 index is on track to gain 10 percent since last Friday, the first positive week in five and the biggest jump since November. Treasury prices were also under pressure Friday as Chinese Premier Wen Jiabao expressed concern about the safety of its U.S. bonds. China is the largest holder of Treasuries and has been increasingly vocal in recent times about how the U.S. is dealing with its economy and deficits.
Also pressuring bonds, an index of consumer sentiment index unexpectedly improved slightly up inn early March to 56.6 from 56.3 in February, but remains at relatively low levels amid mounting job losses. The Treasury Department sold $34 billion in 3-year notes The Treasury Department sold $34 billion in 3-year notes. Economic news for next week highlights CPI, PPI and FOMC meeting.

Commentary/New Issues

Corporate:
$350 MM, Union Electric, 8.45%, 3/15/39, Baa1/BBB, +482.5bp

ABS:
Nothing

Agency:
Nothing

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