CREDIT MARKETS

Treasuries:
Treasury prices rose yesterday, pushing yields back toward multi-month lows, as many bond investors question the economic recovery and say bond
yields can stay down or move lower still. Yields on 10-year notes were flat at 2.644%. Yields on 2-year notes were nearly flat at 0.496% after
touching an intraday low of 0.48%. And yields on 30-year bonds declined 2 basis points to 3.739%. The Mortgage Bankers Association said its
refinance index increased 17.1% from the previous week, the highest level observed for the index since May 15, 2009.
Economic Data: Initial Jobless Claims, Continuing Claims.

Commentary/New Issues

Corporate:
$250M CHOICE HOTELS INTL BAA3/BBB, 5.70%, 8/28/20, +310 BP
$2B IBRD AAA/AAA, 1.125%, 8/24/14, +48.9 BP

Agency:
Nothing

ABS:
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.