CREDIT MARKETS

Treasuries:
Treasury 10-year notes fell, pushing the yield to the highest level in almost two weeks, on concern the government may struggle to find buyers for $74 billion of securities this week at current rates. Demand for the safest assets decreased as France’s President Nicolas Sarkozy said the Euro region is ready to help Greece should the nation struggle to fund its budget deficit. Traders added to bets that the Federal Reserve will raise interest rates by September. The yield on the benchmark 10-year note climbed 3 basis points to 3.71 percent. It earlier reached 3.73 percent, the highest level since February 23. The 30-year bond yield increased 3 basis points to 4.68 percent. The difference in yield between 2- and 10-year notes fell as low as 2.71 percentage points on March 5 as rates on shorter maturities climbed faster than those on longer-term debt. The spread reached a record 2.94 percentage points on February 18. It was at 2.82 percentage points yesterday.

Commentary/New Issues

Corporate:
$750M BNP PARIBAS Aa2/AA 3.25% 3/11/15 +97bp
$612.5M CME GROUP Aa3/AA 4.40% 3/15/18 +130bp
$600M DCP MIDSTREAM Baa2/BBB 5.35% 3/15/20 +165bp
$500M SO CAL EDISON A1/A 5.50% 3/15/40 +90bp
$750M AMERIPRISE FINANCIAL A3/A 5.30% 3/15/20 162.5bp
$500M HASBRO Baa2/BBB 6.35% 3/15/40 +170bp

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.