CREDIT MARKETS

Treasuries:
Treasury two-year notes fell the most in three weeks as stocks gained and industrial production rose in August more than forecast, damping demand for the relative safety of US debt. Two-year notes declined for a fourth day as output at US factories, mines and utilities climbed 0.8 percent last month. The yield on the two-year note rose five basis points or 0.05 percentage point, to 0.98 percent. Ten-year note yields rose two basis points to 3.47 percent. The rate increased as much as four basis points and declined as much as seven during the day. Industrial production gained 1 percent in July, more than previously estimated. The government will announce today the amounts of 2-,5- and 7- year notes will sell next week.

Commentary/New Issues

Corporate:
$1B, Export Development Canada, 1.75%, 9/24/12, AAA/AAA, +28.3bp
$1.5B, Austria, 2.00%, 11/15/12, AAA/AAA, +51.7bp
$491.77MM, State of Utah; 2-Part: $74.145MM, 4.154%, 7/1/19, AAA/AAA, 4.154bp; 417.615MM, 4.554%, 7/1/24, 4.554bp
$3B, Morgan Stanley, 5.625%, 9/23/19, A2/A, +225bp
$600MM, GECC, 4.375%, 9/21/15, AA2/AA+, +200bp
$1.5B, Exelon Generation, 2-Part: $600MM, 5.20%, 10/1/19, A3/BBB, +175bp; $900MM, 6.25%, 10/1/39, +200bp
$500MM, PNC Funding Corp, 4.25%, 9/21/15, A3/A, +185bp

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 offerings mentioned and therefore offerings will be subject to availability.
All statistical data is sourced from Bloomberg Financial Markets.