CREDIT MARKETS

Treasuries:
Treasury 10-year notes rose for a third day on speculation the decline that last week pushed the yield to 4 percent for the first time since June was unsustainable with inflation expectations subdued. The difference between two- and 10-year yields narrowed to 2.77 percentage points from a record 2.94 percentage points in February as investors sought longer maturities. Consumer prices gained 0.1 percent in March after stagnating in February, a report today is forecast to show before Federal Reserve Chairman Ben S. Bernanke’s testimony before Congress on the outlook for the economy. The 10-year note yield fell three basis point to 3.82 percent. It earlier touched 3.80 percent, the lowest since March 24. Economic Data: MBA Mortgage Applications, CPI, Retail Sales, Business Inventories

Commentary/New Issues

Corporate:
$1.5BLN SOUTHERN COPPER CORP 2-PT BAA2/BBB- $400MM 5.375% 4/16/20 +162bp; $1.1BN 6.750% 4/16/40 +212bp

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.

CREDIT MARKETS

Treasuries:
Treasury 30-year bonds gained for a second day as yields close to the highest level since October 2007 attracted value-conscious investors. Treasuries had slumped earlier as a European rescue plan for debt-plagued Greece reduced demand for the relative safety of U.S. government securities. The committee responsible for determining when U.S. recessions begin and end said it’s premature to declare an end to the current slump. Thirty-year yields reached 4.86 percent on April 7, the highest intraday level since touching 4.91 percent on Oct. 17, 2007. The yield on the 30-year bond fell 4 basis points to 4.69 percent. Bonds may be attractive at these levels with the outlook for inflation subdued. The Labor Department may say April 14 that consumer prices excluding food and energy rose 1.2 percent in March from a year earlier, the smallest annual increase since February 2004, according to the median estimate of 35 economists in a Bloomberg News Survey. Economic Data: International Trade, Import and Export Prices, ABC Consumer Confidence

Commentary/New Issues

Corporate:
$500M DISCOVER BANK BA1/BBB- 7.00% 4/15/20 +325bp
$500M HYUNDAI MOTOR BAA3/BBB- 4.50% 4/15/15 +197.5bp
$1B LOWE’S 2-PT A1/A $500M 4.625% 4/15/20 +80bp; $500M 5.80% 4/15/40 +110bp

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.

CREDIT MARKETS

Treasuries:
Treasuries headed for their best week since February as traders speculated borrowing costs will stay low for most of the year and an auction of 10-year notes last week drew the strongest demand in16 years. Ten-year yields fell on Friday to the lowest level since April 1. Investors raised bets that the Federal Reserve will hold its target rate for overnight lending unchanged through August after Chairman Ben S. Bernanke said last week that foreclosures and weak lending are dragging on the recovery. The 10-year note yield fell 1 basis point to 3.88 percent. The yield dropped 7 basis points last week in the biggest decrease since the five days ended Feb. 26. It reached 3.83 on Friday, the lowest level since April 1. It rose above 4 percent for the first time since June on April 5. Economic Data: Monthly Budget Statement, International Trade, Import and Export Prices, MBA Purchase Applications, Consumer Price Index, Retail Sales, Jobless Claims, Housing Starts, Consumer Sentiment

Commentary/New Issues

Corporate:
Nothing

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.

CREDIT MARKETS

Treasuries:
Treasuries fell as U.S. stocks rose and the U.S. sold $13 billion of 30-year bonds, the last of four note and bond auctions this week totaling $82 billion. The so-called long bond gained the most in six weeks yesterday after a $21 billion sale of 10-year notes drew the strongest demand in at least 16 years. The 30-year bonds sold yesterday drew a yield of 4.77 percent, compared with an average forecast of 4.768 percent in a Bloomberg News survey of six of the Federal Reserve’s 18 primary dealers. The yield on the 30-year bond gained one basis point to 4.75 percent. The yield Wednesday declined 9.5 basis points on a closing basis, the most since Feb. 23, after reaching 4.8559 percent, the highest level since October 2007. Economic Data: Wholesale Inventories

Commentary/New Issues

Corporate:
$250M AVERY DENNISON BAA2/BBB 5.375% 4/15/20 +150bp
$700M BOSTON PROPERTIES BAA2/A- 5.625% 11/15/20 +175bp

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.

CREDIT MARKETS

Treasuries:
Treasuries surged as 10-year note yields near 4 percent spurred the strongest demand in at least 16 years at a $21 billion offering of the securities.U.S. securities gained for a second day as speculation Greece may default boosted demand for the safest fixed-income assets. The bid-to-cover ratio at today’s auction, which gauges demand by comparing total bids with the amount of securities offered, was 3.72, the highest since at least 1994 and exceeding the 10-auction average of 2.87. The yield on the 10-year note fell eight basis points to 3.86 percent. The yield slid as much as 10 basis points, the most on an intraday basis since Feb. 23. The yield touched 4.0095 percent on April 5, the highest level since Oct. 16, 2008. Economic Data: Initial Jobless Claims, Continuing Claims, Chain Store Sales

Commentary/New Issues

Corporate:
$2B PROVINCE OF ONTARIO AA1/AA- 4.40% 4/14/20 +50bp
$1B LORILLARD TOBACCO 2-PT BAA2/BBB- $750M 6.875% 5/1/20+300bp; $250M 8.125% 5/1/40 +340bp
$1.25B CREDIT AGRICOLE AA1/AA- 3.50% 4/13/15 +100bp
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.

CREDIT MARKETS

Treasuries:
Treasury notes rose for the first time in four days as yields near the highest levels since June lured investors to a record-tying $40 billion auction of three-year notes. Ten-year note yields declined from the four percent level amid concern the European Union’s rescue plan for Greece may unravel. Investors bid for 3.10 times the amount of securities offered at yesterday’s three-year note sale, compared to a 10- auction average of 2.94. Some Federal Reserve officials warned of raising interest rates too soon, according to minutes of their March meeting. The yield on the current three-year note fell four basis point to 1.70 percent. The yield on the benchmark 10-year note fell three basis points to 3.95 percent. The yield on Monday touched 4.0095 percent, the highest level since Oct. 16, 2008.
Economic Data: MBA Mortgage Applications and Consumer Credit

Commentary/New Issues

Corporate:
Nothing

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.

CREDIT MARKETS

Treasuries:
Treasury 10-year note yields rose above 4 percent for the first time since June as evidence the economic recovery is gaining traction added to concern debt sales will overwhelm demand as the U.S. funds record deficits. Ten-year yields touched the highest level in 18 months as a gauge of service industries and pending sales of U.S. homes rose more than forecast. A report on April 2 showed the U.S. added the most jobs in three years last month. Further gains in 10-year yields may dampen the recovery if higher borrowing costs for the government are passed on to consumers. The 10-year note yield rose four basis points to 3.99 percent. The yield touched 4.0095 percent, the highest level since Oct. 16, 2008. Bond dealers forecast the yield on the 10-year note will climb to 4.2 percent at the end of this year. Economic Data: FOMC Minutes and ABC Consumer Confidence

Commentary/New Issues

Corporate:
Nothing

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.

CREDIT MARKETS

Treasuries:
Treasury 10-year notes fell for the first time in three days as an index of U.S. manufacturing activity rose in March and initial jobless claims dropped last week, reducing demand for relative safety. The yield was within 0.06 percentage point of its highest level since June before today’s payroll report, forecast to show employers added the most jobs in three years. Next week’s $82 billion in note and bond sales announced yesterday include a record-tying $40 billion sale of three-year securities. The 10-year note yield increased 3 basis points to 3.87 percent. The two-year note yield advanced 4 basis points to 1.06 percent. Treasuries lost 0.9 percent in March in the first monthly drop in 2010. The difference in yields between 2- and 10-year Treasuries will widen to a record, with the Fed reluctant to increase interest rates as the economic recovery takes hold, according to the primary dealer Credit Suisse. Economic Data: Nonfarm Payroll and Unemployment Rate

Commentary/New Issues

Corporate:
$500M BNP PARIBAS AA2/AA 4/08/13, 3ML+40bp

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.

Type: State Public Works Board A2/BBB+

Amount: $8,065,000,000

10,526,316 Shares

$ Amount: $147,368,424