CREDIT MARKETS

Treasuries:
Treasury prices declined Tuesday, pushing yields higher, with traders on edge as the Federal Reserve started its two-day meeting. Traders also kept an eye on the action in equities, pushing bond prices down as U.S. markets resumed last week’s gains. On the economic front, the Labor Department said producer prices rose 0.1 percent in February, while economists predicted prices would increase 0.4 percent. Excluding food and energy, wholesale prices increased 0.2 percent, more than expected. Housing starts surged last month, rising to a seasonally adjusted annual rate of 583,000, in a reflection of a jump in construction of apartment buildings. The U.S. sold $63 billion in notes and bonds last week and will likely sell $99 billion in notes next week. Economic news tomorrow will focus on CPI and the FOMC rate decision.

Commentary/New Issues

Corporate:
$2.45 BLN, State Street Bank, Aaa/AAA, 2 part $1.0 BLN, 1.85%, 3/15/11, M/S+15; $1.45 BLN, 9/15/11, 3ML+20bp
$13.5 BLN, Pfizer, Aa2/AAA, 5 part $1.25 BLN, 3/15/11, +3ML+195bp; $3.5 BLN, 4.45%, 3/15/12, +305bp; $3.0 BLN, 5.35%, 3/15/15, +340bp; $3.25 BLN, 6.20%,
3/15/19, +325bp; $2.5 BLN, 7.20%, 3/15/39, +345bp
$750 MM, So. Cal. Edison, 2 part $250 MM, 4.15%, 9/15/14, +220bp; $500 MM, 6.05%, 9/15/39, +235bp

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 offering mentioned and therefore offerings will be subject to availability.
All statistical data is sourced from Bloomberg Financial Markets.