CREDIT MARKETS

Treasuries:
Treasury two-year notes fell the most in a week after as a gauge of US consumer confidence rose this month more than estimated, adding to evidence the economy is recovering from recession. The difference in yields between two- and ten-year notes narrowed for a fourth day to 2.34 percentage points. The yield on the two-year rose five basis points to 0.98 percent. Longer-maturity debt gained as stocks fell. Ten-year note yields dropped five basis points to 3.34 percent. Yields on the 30-year bonds dropped eight basis points to 4.09 percent. A $40 billion five-year sale on Sept 23 drew bids for 2.4 times the amount of debt offer, versus an average of 2.23 at the prior 10 auctions. The Treasury’s $43 billion sale of two-year notes on Sept. 22 attracted bids for 3.23 times the available securities, the highest since 2007. Economic news for this week: Initial Jobless Claims, Change in Non-Farm Payrolls, and Pending Home Sales.

Commentary/New Issues

Corporate:
$1B, Total Capital SA, 3.125, 10/02/15, AA1/AA, +88bp
$350MM, Unum Group, 7.125%, 9/30/16, BA1/BBB-, +416.5bp

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.