CREDIT MARKETS

Treasuries:
Treasuries were little changed after the US sold a record-tying $44 billion of 2-year debt at the lowest yield ever, the first of three note sales this week totaling a record $118 billion. The 2-year securities drew a yield of 0.802 percent, compared to the forecast of 0.786 percent. The bid-to-cover ratio was 3.16 compared to 3.63 at the previous auction. The average at the last two auctions was 2.92. 2-year yields last week fell to the lowest level this year as the Federal Reserve signaled it may keep interest rates near record lows for longer. The yield on the current 2-year note rose one basis point, or 0.01 percentage point, to 0.73 percent. Both 10 year and 30 years remained unchanged at 3.36 and 4.29 percent respectively. The Treasury is scheduled to sell $42 billion of 5-year securities Tuesday and $32 billion of debt maturing in 7-years on Wednesday, both are record amounts.

Commentary/New Issues

Corporate:
$600M, GRUPO TELEVISA, 6.625%, 1/15/40, BAA1/BBB+, +245bp
$500M, AEGON, 4.625%, 12/1/15, A3/A-, +250bp

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.