CREDIT MARKETS

Treasuries:
Treasury 10-year note yields were near the lowest level in almost three weeks as a drop in crude oil made government debt more attractive. Bonds were supported as a gauge of inflation watched by the Federal Reserve was steady in January. The difference between the rates on 2- and 10-year notes was little changed after four days of decreases on speculation last week’s flattening in the Treasury yield curve was too much for the market to sustain. The 10-year note yield fell 1 basis points, to 3.61 percent after touching 3.58 percent on Feb. 26, the lowest since Feb. 9. The 2-year note’s yield slid 1 basis point to 0.80 percent. The spread between 2- and 10-year note yields was 280 basis points after narrowing by 5.7 basis points last week, the most since the beginning of the year. The difference widened to a record level of 294 basis points on Feb. 18. Economic news for tomorrow will focus on auto sales.

Commentary/New Issues
Corporate:
$2B GOLDMAN SACHS A1/A 5.375% 3/15/20 +190bp
$500M US BANCORP Aa3/A+ 3.15% 3/04/15 +90bp
$1.5B REPUBLIC SERVICES 2-PT Baa3/BBB $850M 5.00% 3/1/20 +140bp; $650M 6.20% 3/1/40 +165bp

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.