CREDIT MARKETS

Treasuries:
Treasury prices rose Tuesday, helped by disappointing economic data and investors buying U.S. debt at the end of the quarter to show less risky holdings in their accounts. U.S. debt reversed earlier losses as confidence among U.S. consumers stayed near a record low. Consumer confidence increased to 26 from 25.3, its lowest reading since data began in 1967. Treasuries are headed for the worst yearly start since 1996 as increased issuance amid U.S. efforts to revive economic growth dampen investor demand.
The Institute for Supply Management—Chicago, Inc. decreased to 31.4 percent, lower than forecast, from 34.2 the prior month. The Fed will buy Treasuries tomorrow due May 2012 through August 2013. The following day it plans to purchase notes due from September 2013 through February 2016. The non-farm payroll report this Friday is likely to report the U.S. economy lost over 650,000 jobs for a fourth consecutive month.

Commentary/New Issues

Corporate:
$655 MM, Ingersoll-Rand Global Holding Co., 9.50%, 4/15/14, Baa1/BBB+, +783.8bp
$350 MM, Black & Decker, 8.95%, 4/15/14, Baa3/BBB, +755bp

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.