CREDIT MARKETS

Treasuries:
Short-term Treasury prices rose on Tuesday, while longer-dated debt erased a small, earlier decline as investors waded through more news out of Greece. Longer-term Treasuries were under pressure earlier amid reports that further budget cuts will be forthcoming from Greece, easing fears about a new debt-driven meltdown and reducing the relative investment appeal of U.S. debt. Late in the session, U.S. stocks pared their gains and the U.S. dollar fell further as the euro turned positive. Yields on 2-year notes fell 2 basis points to 0.79, erasing a prior move higher. Yields on 10-year notes were little changed at 3.61. Greek bond prices improved, pushing yields down, as Athens is expected to announce more ways to reduce its deficit before bringing a much-needed bond deal to the market. All eyes are focused on the nonfarm payroll report on Friday, a loss of 50K jobs is expected for February.

Commentary/New Issues
Corporate:
$300M PSE&G A2/A- 5.50 % 3/1/40 +95bp
$1B KEXIM A2/A 4.125% 9/09/15 +195bp
$4BLN DEXIA CREDIT LOCAL Aa1/AA+ $1.75BLN 3/5/13 3ML+40bp; $2.250BLN 2.00% 3/5/13 +71.2bp
$2B REPUBLIC OF SOUTH AFRICA A3/BBB+ 5.50% 3/9/20 +197bp

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.