CREDIT MARKETS

Treasuries:
Treasury five-year notes dropped the most in seven months after a record-tying $42 billion auction of the securities sold at the widest difference in yield over the average forecast of primary dealers since July. Yields on 10-year notes increased to the highest level since January as demand from a group of investors that includes foreign central banks was the lowest in eight months. U.S. interest-rate swap spreads plunged to the lowest levels in more than two decades after Fitch Ratings’ downgrade of Portugal raised the risk of owning sovereign debt and corporate bond issuance surged. The five-year note’s yield increased 15 basis points to 2.58 percent. The yield advanced as much as 18 basis points in the biggest intraday increase since Aug. 3. A decrease of more than one point in the 10-year note pushed its yield to 3.85 percent, the highest level since Jan. 8. Economic Data: Jobless Claims, Natural Gas

Commentary/New Issues

Corporate:
$3.25B ANHEUSER-BUSCH INBEV BAA2/BBB+ $500M 3/26/13 3ML+73bp; $1B 2.50% 3/26/13 +87.5bp; $750M 3.625% 4/15/15 +108bp; $1B 5.00% 4/15/20 +123bp
$2B WAL-MART AA2/AA $750M 2.875% 4/1/15 +45bp; $1.25B 5.625% 4/1/40 +95bp
$750M BRAMBLES BAA1/BBB+ $250M 3.95% 4/1/15 +137.5bp; $500M 5.35% 4/1/20 +150bp

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.