CREDIT MARKETS

Treasuries:
Treasury prices gained Friday, pushing 10-year notes towards the best weekly gain this year, after a government report on May personal income showed the lightest inflation since at least 1960. Treasuries looked set to end the week higher, after the government garnered plenty of demand at its auctions of $104 billion in debt. The Commerce Department said its measure of prices tied to spending patterns rose 0.1% from May 2008, the smallest annual gain since records began in 1960. Excluding food and fuel, prices rose 0.1% from a month earlier and were up 1.8% from a year earlier. The report also showed consumer spending rose 0.3% in May. Personal incomes jumped 1.4%, much more than the 0.5% anticipated, due to stimulus checks. At sales of 2-year, 5-year and 7-year debt this week, bidders offered to buy much more debt than was available at the sales. That factors out the changes to how different types of bidders are tallied, which dramatically pushed up the portion of each sale that went to indirect bidders. The shortened holiday week ahead will focus on the following: consumer confidence, ISM manufacturing, initial jobless claims, unemployment rate and non-farm payrolls.

Commentary/New Issues

Corporate:
$1.3 BLN, Credit Suisse, 3.496%, 7/2/2012, AA1/A+, +190bp
$300 MM, Campbell Soup Co., 3.375%, 8/15/2014, A2/A, +87.5bp

ABS:
(priced) $1.845 BLN, CHAIT 09-A5, ABS
(priced details) $259 MM, MSRR 2009-GG10, ABS
(announced) $1.1 BLN, SLMA 2009-C (TALF), ABS

Agency:
Nothing

New Issues larger than $250mm. The fixed income offerings mentioned above are for informational purposes only. Toussaint Capital Partners, LLC, member FINRA/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.