CREDIT MARKETS

Treasuries:
Treasuries gained yesterday after the government’s $36 billion auction of two-year notes drew the highest level of demand since August 2007 with bid-to-cover ratio at 3.78 and on speculations that the Federal Reserve will buy more government bonds. The 10-year note yield dropped 9 basis points to 2.52 percent The two-year note yield dropped 2 basis points to 0.42 percent, compared with the all-time low of 0.41 percent touched Sept. 22. The 30-year bond yield slid 9 basis points to 3.70 percent. The Treasury will auction $35 billion in five-year notes tomorrow and $29 billion in seven-year notes on Sept. 29.
Economic Data: S&P/ CaseShiller Home Price Ind and Consumer Confidence.

Commentary/New Issues

Corporate:
$1.5B NORDEA BANK 144A REG S 2-PT AA2/AA-, $1B 1.75%, 1/14/13, +115 bp $500MM 4.875%, 1/27/20, +135 bp
$1.15B JPMORGAN 2-PT AA3/AA-, $600MM FRN, 9/30/13, +75 bp, $550MM 1.65%, 9/30/13, +100 bp
$1B KOMMUNALBANKEN AAA/AAA, 1.75%, 10/05/15, +49.1 bp
$1B OKB AAA/AAA, 1.75%, 10/05/15, +49 bp
$900M EXELON GENERATION 2-PT A3/BBB, $550MM 4.00%, 10/1/20, +150 bp, $350MM 5.75%, 10/1/41, +208 bp
$700MM KEPCO A1/A, 3.00%, 10/05/15, +180 bp
$250MM PEPCO HOLDINGS BAA3/BBB, 2.70%, 10/1/15, +145 bp
$250MM AIRGAS BAA3/BBB, 3.25%, 10/1/15, +200 bp
$250MM ALABAMA POWER A2/A, 3.375%, 10/1/20, +87.5 bp
$250MM ENTERGY GULF STATES A3/BBB+, 3.95%, 10/01/20 , +145 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.

The Treasuries dropped on Friday, pushing the yields up for the first time in six days, after the report showed orders for durable goods excluding transportation items increased in August more than analysts forecast. The benchmark 10-year note pared its weekly advance as evidence of an economic recovery discouraged speculations of the Federal Reserve boosting purchases of U.S. debt. The yield on the 10-year note increased 7 basis points to close at 2.61 percent. The two-year note yield gained today 2 basis points to 0.44 percent, compared with the record low of 0.41 percent reached Sept. 22. Thirty-year bond yield increased 7 basis points to 3.79 percent.
Economic Data: S&P CaseShiller Home Price Index, Consumer Confidence, ABC Consumer Confidence, MBA Mortgage Applications and GDP Price Index.

Commentary/New Issues

Corporate:
Nothing

Agency:
$5.5B FANNIE MAE 1.625%, 10/26/15, +36 bp

ABS:
$2B CFAST 10-A
$458.319MM ALLSL 2010-I
$303MM Tax Liens Securitization Trust 2010-1

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:
The Treasuries gained yesterday on speculation that the Federal Reserve may increase purchases of U.S. debt to support the economy and on report that initial jobless claims unexpectedly climbed last week. Initial Jobless claims increased 465,000 in the week ended September 18 from a revised 453,000 in the previous week. The 10-year note yield fell below 2.50 percent during the day for the first time in three weeks and closed at 2.54 percent. The 2-year yield ended unchanged at 0.42 percent, compared with the record 0.41 percent reached yesterday. The 5-year note ended at 1.31 percent and the 30-year bond yield fell 2 basis points to 3.72 percent. The Treasury announced today that it will sell $100 billion in two-, five- and seven-year notes at auction next week.
Economic Data: Durable Goods Orders, Durables Ex Transportation and New Home Sales.

Commentary/New Issues

Corporate:
$1.25B GERDAU BBB-/BBB-, 5.75%, 1/30/21, +333.8 bp
$500MM MATTEL 2-PT BAA2/BBB, $250MM 4.35%, 10/1/20, +182 bp, $250MM 6.20%, 10/1/40, +250 bp
$250MM DCP MIDSTREAM OPERATING LP BBB-/BBB-, 3.25%, 10/1/15, +195 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.

CREDIT MARKETS

Treasuries:
Treasury 10-year notes rose yesterday for a fourth day in the longest stretch of gains since June on speculations that the Federal Reserve is preparing to increase purchases of U.S. debt. The yield on the two-year note touched a record low for a second day and ended flat at 0.42 percent. The central bank bought $2.07 billion of Treasuries maturing from March 2013 to April 2014. The benchmark 10-year note yield dropped 6 basis points to 2.54 percent. The 30-year bond yield fell 5 basis points to 3.74 percent and 5-year note yield closed at 1.310 percent, down 1 basis point.
Economic Data: Initial Jobless Claims, Continuing Claims and Existing Home Sales.

Commentary/New Issues

Corporate:
$4.75Bln MICROSOFT 4-PT, AAA/AAA, $1.0Bln, 0.875%, 9/27/13, +25bp; $1.75Bln, 1.625%, 9/25/15, +40bp; $1.0Bln, 3.00%, 10/1/20, 55bp; $1.0 Bln, 4.50%,
10/1/40, +83bp
$500MM KKR GROUP A-/A, 6.375%, 9/29/20, +387.5 bp
$850MM METLIFE GLOBAL FUNDING AA3/AA-, 2.50%, 9/29/15, +120 bp
$300MM ALTERRA FINANCE LLC BAA2/BBB, 6.25%, 9/30/20, +371.5 bp
$350MM LIBERTY PROPERTY LP BAA2/BBB, 4.75%, 10/1/20, +225 bp

Agency:
Nothing

ABS:
$1.294Bln TAOT 2010-C

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:
The Treasuries rallied yesterday, pushing the yields down. Yield on the two-year note fell to a record low, as the Federal Open Market Committee said it’s willing to ease monetary policy further to boost the economy and lower unemployment. The benchmark 10-year note yield dropped to 2.6 percent. The 2-year note yield dropped 4 basis points to 0.42 percent. The extra yield investors demand to hold 10-year notes compared with 2-year securities dropped to 2.22 percent, the lowest level in almost two weeks. The 30-year bond yield slid 8 basis points to 3.79 percent and 5-year note yield ended the day at 1.32 percent.
Economic Data: MBA Mortgage Applications, and House Price Index.

Commentary/New Issues

Corporate:
$250MM ENTERGY LOUISIANA A3/A- 4.44%, 1/15/16, +185 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.

CREDIT MARKETS

Treasuries:
Long term Treasuries rose yesterday sending yields down. The central bank purchased $5.19 billion of U.S. debt maturing from September 2016 to August 2019 in an attempt to prevent money from being drained out of the financial system. The yield on the 30-year bond dropped 4 basis points to 3.87 percent. The two-year note yield was unchanged at 0.46 percent after dropping 10 basis points last week in its biggest five-day decrease since May 7. The 10-year note yield fell 4 basis points to 2.70 percent, compared with a 19-month low of 2.42 percent reached Aug. 25. The five-year note yield fell 3 basis points to 1.41 percent.
Economic Data: Housing Starts, Building Permits, FOMC Rate Decision and ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$2B DUPONT 3-PT A2/A/A, $500MM, 1.95%, 1/15/16, +72 bp, $1B 3.625%, 1/15/21,+93 bp, $500MM, 4.90%, 1/15/41, +112.5 bp
$1.25B ANGLO AMERICAN CAPITAL 2-PART BAA1/BBB, $750MM, 2.15%, 9/27/13, +145 bp, $500MM, 4.45%, 9/27/20, +175 bp
$1B TRANSCANADA PIPELINE A3/A-, 3.8%, 10/1/20, +112.5 bp
$1B NATIONAL AUSTRALIA BANK AA1/AA, 2.75%, 9/28/15, +137 bp
$700MM MASSMUTUAL GLOBAL FUNDING 2-PT AA2/AA+, $300MM, 9/27/13, +50 bp, $400MM, 2.30%, 9/28/15, +90 bp
$500MM GEORGIA POWER A3/A, 1.30%, 9/15/13, +60 bp
$350MM CANADIAN PACIFIC RAILWAY BAA3/BBB, 4.45%, 3/15/23, +178 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.

CREDIT MARKETS

Treasuries:
The Treasuries rose on Friday as concerns about debt crisis in Ireland encouraged demand for the safety of government securities. Speculation on Ireland and Portugal will need outside assistance to fund deficits fueled concern that Europe’s sovereign-debt crisis still has the potential to derail the global economic recovery. A report by University of Michigan showed an unexpected drop in America’s consumer confidence to a one-year low. Yield on 2 year notes fell 2 basis points to close at 0.46 percent. The five-year note yield fell 2 basis points to 1.44 percent. The benchmark 10-year Treasury note yield slid 2 basis point to 2.74 percent and thirty-year bond yield fell 1 basis point to end at 3.91 percent.
Economic Data: Housing Starts, Building Permits, FOMC Rate Decision, ABC Consumer Confidence, MBA Mortgage Applications, Initial Jobless Claims and Continuing Claims.

Commentary/New Issues

Corporate:
Nothing

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.

CREDIT MARKETS

Treasuries:
Long-term Treasury prices fell yesterday, pushing the yields higher, after better than expected numbers on U.S. jobless claims. Two-year note
yields ended at 0.48% as the central bank bought $1.379 billion of securities maturing from December 2012 to February 2013. The yield on the
30-year bond increased 6 basis points to 3.92 percent. The 10-year note yield climbed 4 basis points to 2.76 percent. The 2-year yield was little
changed at 0.48 percent, compared with the record low of 0.45 percent reached Aug. 24. The Philadelphia Fed reported that manufacturing in
eastern Pennsylvania, southern New Jersey and Delaware contracted at slower pace.
Economic Data: Consumer Price Index, University of Michigan Confidence.

Commentary/New Issues

Corporate:
$2B TRANSOCEAN INC 2-PT BAA3/BBB $1.1B 4.95%, 11/15/15,+350 bp; $900MM 6.50% 11/15/20, +375 bp
$1.4B WEATHERFORD INT’L 2-PT BAA2/BBB $800MM 5.125%, 9/15/20, +237.5 bp; $600MM 6.750%, 9/15/40, +285 bp
$1B TVA AAA/AAA 4.625%, 9/15/60, +77 bp
$600MM NUCOR CORP A2/A, 4.125%, 9/15/22, +140 bp

Agency:
Nothing

ABS:
$562.985 MM SMALL BUSINESS ADMINISTRATION, 9/10/2020

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:
Long term Treasury prices fell yesterday, pushing yields up. Yields on 2-year notes fell 1 basis point to 0.48%. Yields on 5-year notes increased
3 basis points to close at 1.45%. Yields on 10-year notes rose 6 basis points to 2.72%. Thirty-year bond yields increased 9 basis points to 3.87%.
To support the economic recovery, the Federal Reserve Bank of New York reinvested the cash from maturing mortgage-backed securities and
housing agency debt in Treasury debt, purchasing $3.89 billion in notes maturing from 2014 to 2016. Economic Data: Producer Price Index,
Initial Jobless Claims, Continuing Claims.

Commentary/New Issues

Corporate:
$1B CLIFFS NATURAL RESOURCES 2-PT BAA3/BBB-, $500MM, 4.80%, 10/1/20, +210 bp; $500MM 6.25%, 10/1/40, +250 bp
$400MM BLACKSTONE GROUP A/A+ 5.875%, 3/15/21, +325 bp
$350MM SVB FINANCIAL A3/BBB, 5.375%, 9/15/20, +275 bp
$250M JPMORGAN CHASE FRN, AA3/A+, 9/22/15, +112.5 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.

CREDIT MARKETS

Treasuries:
Treasury prices gained yesterday, pushing yields down, as analysts pointed to continued demand for bonds after a three-week selloff, shrugging off solid data on retail sales and business inventories. Yields on 10-year notes fell 6 basis points to 2.66%. Yields on 2-year notes declined 3 basis points to 0.49%. Thirty-year bond yields slid 4 basis points to 3.78%. Bonds stayed higher after another report said U.S. business inventories rose 1% in July.
Economic Data: MBA Mortgage Applications, Import Price Index, Empire Manufacturing, Industrial Production, Capacity Utilization.

Commentary/New Issues

Corporate:
$1.75B AMERICAN HONDA FINANCE A1/A+ - $250MM, 1.625%, 9/20/13, +87.5 bp; $1B, 2.50%, 9/21/15, +110 bp; $500MM, 3.875%, 9/21/20, +125 bp
$1.5B JBIC AA2/AA, 1.875%, 9/24/15, +46.7 bp
$1.25B WOOLWORTHS LTD A3/A -$500MM, 2.55%, 9/22/15, +115 bp; $750MM, 4.00%, 9/22/20, +135 bp
$750MM FISERV BAA2/BBB- $300MM, 3.125%, 10/1/15, +175 bp; $450MM, 4.625%, 10/1/20, +200 bp
$400MM EDISON INT’L BAA2/BBB-, 3.75%, 9/15/17, +170 bp
$400MM CELULOSA ARAUCO BAA2/BBB, 5.00%, 1/21/21, +245 bp
$350MM RABOBANK AAA/AAA, 5.80%, 9/30/2110, 5.80 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.