CREDIT MARKETS

Treasuries:
Treasury prices fell on Friday, sending yields sharply higher, after data showed consumer sentiment improved and General Electric and Citigroup reported better-than-expected results, reducing the appeal of government debt. The University of Michigan preliminary index of consumer sentiment rose to 61.9, the highest since September, from 57.3 in March. Treasuries tend to gain when risk aversion is high and the outlook for the economy darkens, which prompts investors to seek the safety of government debt. Trading volumes have declined even as the Treasury sells debt and the Fed purchases government securities. Since January 20th, the average daily volume of Treasuries is $178.5 billion. That’s down from an average of $248.5 billion back through June 1, 2004. Indiana in March joined seven other U.S. states with a jobless rate of at least 10 percent, and unemployment surged in Oregon, Washington and West Virginia as the worst employment slump in the postwar era rippled through the economy. Economic news for the week will focus on initial jobless claims, existing home sales, durable goods and new home sales.

Commentary/New Issues

Corporate:
Nothing

ABS:
(priced) $1.8 BLN, SLM Student Loan Trust 09-2, ABS

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.