CREDIT MARKETS

Treasuries:
Treasuries prices advanced Friday, adding to the longest streak of weekly yield declines this year, amid growing concerns about prospects for economic growth. The conclusion of $73 billion in U.S. debt auctions over the previous four days also eased some pressure on the bond market. The government has no note or bond auctions scheduled for two weeks. Ten-year note yields have fallen from 3.49 percent a week ago, in what would be the third decline in as many weeks. That would be the longest streak of weekly bond-price gains since December. Traders shrugged off a pair of economic reports that showed that prices of imported goods rose more than predicted and that the nation’s trade deficit unexpectedly narrowed. Import prices rose 3.2 percent in June, the largest increase since November 2007, as petroleum prices shot higher. Next week economic news will focus on PPI, CPI, initial jobless claims, housing starts and building permits.

Commentary/New Issues

Corporate:
$400 MM, Discover Fin Srvs, 10.25%, 7/15/19, Ba1/BBB-, +694.7bp

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 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.