CREDIT MARKETS

Treasuries:
Treasury prices posted small declines on Friday, pushing yields towards a small but second weekly increase, as traders set up for debt issuance next week that will be more than many observers had anticipated. Treasury securities are headed toward their second weekly loss, though small. Yields on 10-year notes are up from 3.65 percent on July 17. Two-year yields are little changed on the week from 1 percent last Friday. Traders are also girding for the Treasury’s sale of $205 billion in short-term bills and notes next week. The government will start next week’s auctions with $6 billion in 20-year Treasury Inflation-Protected Securities. It will also sell $42 billion in two-year notes on Tuesday, followed by $39 billion in five-year notes on Wednesday and $28 billion in seven-year notes on Thursday. The amount of 2-year, 5-year and 7-year notes will all be the largest-ever auctions on record. The only economic data of note for Friday, the final reading of the University of Michigan/Reuters index of consumer confidence for July, also worked against Treasuries. The index rose to 66, more than some had expected. Economic news for next week will focus on new home sales, consumer confidence, durable goods and 2nd quarter GDP.

Commentary/New Issues

Corporate
Nothing

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.