CREDIT MARKETS

Treasuries:
Treasury two-year notes rose for a second day as stocks fluctuated and Federal Reserve Bank of San Francisco President Janet Yellen said the U.S. economy will operate below potential this year and next. Yields on longer-term debt were little changed as the U.S. sold $8 billion in 30-year TIPS in the first auction of the maturity in more than eight years. The offering led off a record $126 billion of note and bond sales this week. The yield on the two-year note fell three basis points to 0.88 percent. The 30-year bond yield rose three basis points to 4.73 percent, while the 10-year note yield increased two basis points to 3.79 percent after touching 3.82 percent on Feb. 19, the highest level since Jan. 11. The difference in yields between 2- and 10-year notes was 2.92 percentage points, compared with a record high of 2.94 percentage points on Feb. 18. Economic news tomorrow will focus on consumer confidence.

Commentary/New Issues

Corporate:
$250M WYNDHAM WORLDWIDE Ba1/BBB- 7.375% 3/1/20 +357bp

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.