CREDIT MARKETS

Treasuries:
Treasuries gained on Friday as Standard & Poor’s downgraded Anglo Irish Bank Corp. Ltd., and as tensions between North and South Korea increased the demand for the safest assets. The yield on the benchmark 10-year note fell four basis points to 2.87 percent. Ten-year yields have increased 27 basis points since Oct.29. Thirty-year bond yields fell seven basis points to 4.21 percent. They are down seven basis points this week. Two-year and five-year notes rose sending yields down by two and four basis points respectively. The U.S. government sold $99 billion of notes this week and the final two sales drew higher-than-forecast yields and reduced bidding compared with previous sales.
Economic Data: S&P/ CaseShiller Home Price Ind, Consumer Confidence, ABC Consumer Confidence, MBA Mortgage Applications, Fed’s Beige Book, 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:
Treasuries rose yesterday as a clash between North and South Korea and a concern that the Ireland’s financial crisis will spread encouraged demand for the safety of U.S. debt. The rise pushed the 10-year note yield down five basis points to 2.76 percent. The five-year note yield fell four basis points to 1.38 percent. Thirty-year bond yields fell three basis points to 4.17 percent. At the U.S. five-year note auction, the securities drew a yield of 1.411 percent, compared with the average forecast of 1.404 percent in a Bloomberg News survey. The bid-to-cover ratio was 2.65 and Indirect bidders bought 31.5 percent of the notes, compared with the 10-sale average of 44.5 percent. Direct bidders bought 15.6 percent at the auction, compared with an average of 11.2 percent at the past 10 sales.Treasury will sell $29 billion of seven-year debt today.
Economic Data: MBA Mortgage Applications, Personal Income and Spending, and PCE Core (MoM& YoY).

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:
Treasuries rose yesterday pushing down the yields as Moody’s Investors Service said it may downgrade Ireland’s debt by more than anticipated, increasing demand for the relative safety of U.S. government securities. The Federal Reserve bought $8.3 billion of Treasuries as part of program QE2. Two-year notes yields fell after higher-than-average bidding at a $35 billion auction of the securities as part of $99 billion of note sales this week. The auction drew a yield of 0.52% as against market expectations of 0.54%. The bid to cover ratio was 3.70 and directs took 14.4 % and indirects took 38.3%. The yield on 2 year notes closed at 0.464 percent, down 5 basis points and yield on five year notes fell ten basis points to 1.423 percent. The yield on the 10-year note fell seven basis points to 2.80 percent. 30 year bonds rose sending yields down by four basis points to 4.21 percent.
Economic Data: GDP QoQ (Annualized), Personal Consumption, Existing Home Sales, FOMC Minutes, and ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$1B POTASH 2-PT BAA1/A-, $500MM 3.25%, 12/01/17, +122 bps; $500MM 5.625%, 12/01/40, +152 bps

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 rose Friday, with yields hitting the lows of the day in Asian trading hours just after Federal Reserve Chairman Ben Bernanke adamantly defended the U.S. central bank’s latest bond-buying program. Bernanke also used the speech to point a finger at China’s currency policy as the main cause of instability in the global economy. Yields on 10-year notes fell 3 basis points on the day to 2.87%. Yields on 2-year notes were little changed at 0.51%. Thirty-year bond yields slipped 4 basis points to 4.24%. The Fed’s Treasury buyback lent some support as the only scheduled event for the session. The central bank has bought bonds every day this week and is scheduled to continue operations on almost every business day until early December. Next week’s sales of 2-year, 5-year and 7-year notes will begin on Monday, a day earlier than usual because of the Thanksgiving holiday. Economic Data: Existing Home Sales, FOMC Minutes, Durable Goods Orders, New Home Sales, Personal Income and Spending and Jobless Claims.

Commentary/New Issues

Corporate:
$250 MM, Unitrin, BAA3/BBB, 6.00%, 11/30/15, +448.8bp

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:
Treasuries fell yesterday as an advance in stocks exhausted demand for the safest assets and as reports showed that manufacturing in the Philadelphia-area expanded at the fastest pace this year. Ten-year note yields were near a three-month high as the index of U.S. leading indicators rose for a fourth consecutive month, manufacturing surged in mid-Atlantic manufacturing and jobless claims climbed less than forecast, signaling the world’s largest economy is accelerating. The Federal Reserve today bought $7.2 billion of Treasuries. Ten-year note yields climbed one basis points to 2.90 percent and 30 year bonds rose sending yields down by two basis points to 4.28 percent. Five-year notes fell pushing yields higher by three basis points to 1.50 percent. The Treasury announced it will sell $35 billion of two-year notes, $35 billion in five-year debt and $29 billion of seven-year securities during three days starting Nov. 22.
Economic Data: Nothing

Commentary/New Issues

Corporate:
$1.5B EOG RESOURCES 3-PT A3/A- $350MM 2/13/14, +75 bps, $400MM 2.50%, 2/1/16, +105 bps, $750MM 4.10%, 2/1/21,+125 bps$700MM ACE INA HOLDINGS A3/A-/A 2.60%, 11/23/15, +108 bps

Agency: Nothing

ABS:
$900MM SDART 10-3$347.7MM NSLT 2010-4

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 fell yesterday sending yields on bonds higher by three basis points to close at 4.3 percent. The 10-year note yield rose four basis points to 2.89 percent.Two-year note yields touched the lowest level for the week, down two basis points to 0.484 percent. The Fed bought $8.2 billion of government debt as part of its $600 billion quantitative easing plan and the four top Republicans in Congress wrote to Federal Reserve Chairman Ben S. Bernanke expressing “deep concerns” about the central bank’s second round of debt purchases. Consumer prices excluding food and fuel increased 0.6 percent from October 2009 according to a report by Labor Department.
Economic Data: Initial Jobless Claims, Continuing Claims, MBA Mortgage Foreclosures, and Philadelphia Fed.

Commentary/New Issues

Corporate:
$1B LOWES 2-PT A1/A/A $475MM 2.125%, 4/15/16, +68 bps, $525MM 3.75%, 4/15/21, +88 bps$1B GAZPROM BAA1/BBB 5.092%, 11/29/15, +365 bps$427.151MM CONTINENTAL AIR 2-PT $64.492MM 6.00%, 1/12/19, +453.3 bps, $362.659MM 4.75%, 1/12/21, +263 bps$400MM GENWORTH FINANCIAL BAA3/BBB 7.20%, 2/15/21,+438.3 bps$300MM DUN & BRADSTREET A-/A- 2.875%, 11/15/15, +150 bps

Agency:
$3B FHLB 0.875%, 12/27/13, +17.5 bps

ABS:
$600MM HDMOT 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:
Treasuries rose yesterday as the Federal Reserve reinforced support for the $600 billion asset purchase program. Yields on 10-year notes fell ten basis points to 2.85 percent. Thirty-year notes yields fell fourteen basis points to 4.27 percent, the sharpest drop since May 20. Two-year note yields declined three basis points to 0.50 percent. Five-year notes rose sending yields down by four basis points to 1.47 percent. The producer price index climbed 0.4 percent in October from the prior month, Labor Department said in its report. The central bank today bought $5.4 billion of Treasuries maturing from July 2012 to May 2013. Net buying of long-term equities, notes and bonds totaled $81.0 billion during the month compared with net buying of $128.7 billion in August.
Economic Data: MBA Mortgage Applications, Consumer Price Index, Housing Starts and Building Permits.

Commentary/New Issues

Corporate:
$925MM LAB CORP OF AMERICA BAA2/BBB+, $325MM 3.125%, 05/15/16, +168bps, $600MM 4.625%, 11/15/20, +183 bps$250MM GATX CORP LONG BAA1/BBB 3.50%, 7/15/16, +200 bps

Agency: Nothing

ABS:
$500MM GRACECHURCH CARD 10-1

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:
Treasury 30-year bond yields rose yesterday to the highest level since May as a report showed retail sales increased. Retail sales rose 1.2 percent in October, stronger than forecast. Ten-year note yields touched the highest level since Aug. 6 as a group including former Republican government officials and economists urged the Federal Reserve Bank to rethink about quantitative easing. The yield on the 30-year bond rose fourteen basis points to 4.41 percent. Two-year note yields rose seven basis points to 0.53 percent and 10- year note yields increased 18 basis points to 2.95 percent. Five-year notes increased sixteen basis points to close at 1.51 percent. The difference between yields on 10-year notes and Treasury Inflation Protected Securities was 2.09 percentage points, matching the five-year average. Economic Data: Producer Price Index, Industrial Production, NAHB Housing Market Index, and ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$1.5B PROCTER & GAMBLE AA3/AA-, $500MM FRN, 11/14/12, +4 bps, $1B 1.80%, 11/15/15, +47 bps$1B PRUDENTIAL FINANCIAL 2-PT BAA2/A, $500MM, 4.50%, 11/15/20, +167 bps, $500MM, 6.20%, 11/15/40, +185 bps$500MM PACIFIC G&E 2-PT A3/BBB+, $250MM 3.50%, 10/1/20, +90 bps, $250MM 5.40%, 1/15/40, +118 bps$474.072MM DELTA AIR LINES BAA2/A-, 4.95%, 5/23/19, +364.4 bps$300MM SOUTHERN CALIFORNIA GAS AA3/A+, 5.125%, 11/15/40, +85 bps

Agency: Nothing

ABS:
$1.1B FREMF 10-K9$474MM Delta 2010-2A

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 dropped on Friday on speculation that the European leaders will strengthen the euro area’s most-indebted nations, reducing demand for safety. The Federal Reserve bought $7.229 billion of Treasuries as the central bank embarked on a second round of monetary easing to reduce unemployment and avert deflation. The acquisitions are part of the Fed’s plan to acquire $600 billion of Treasuries through June and reinvest maturing mortgage holdings.The yield on the two-year note increased two basis points to 0.46 percent. Benchmark 10-year note yields rose eleven basis points to 2.77 percent, and are up 28 basis points for the week, the most since the week ended Dec. 25, 2009. Thirty-year bond yields were up two basis points at 4.27 percent. Five-year notes were up thirteen basis points and closed at 1.35 percent.
Economic Data: Advance Retail Sales, Empire Manufacturing, Producer Price Index, ABC Consumer Confidence, MBA Mortgage Applications, Housing Starts, 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:
Treasuries fell yesterday after 30-year bond yields touched a six-month high following lower-than-average demand at a $16 billion auction. The 30-year bond auction drew a yield of 4.32 percent, compared with the average forecast of 4.288 percent in a Bloomberg News survey. The bid-to-cover ratio was 2.31, the lowest since November 2009. Indirect bidders bought 38.4 percent of the securities today. Direct bidders purchased 10.8percent of the bonds, compared with an average of 17.8 percent for the past10 offerings. The Fed announced plans to buy $105 billion of debt during the next 30 days. The yield on the current 30-year bond closed at 4.25 percent. The benchmark 10-year note yield fell five basis point to 2.66 percent. Two-year note yields fell one basis points to 0.43 percent after touching 0.48 percent, the highest since Sept. 17. The yield difference between Treasury 10-year notes and 30- year bonds was 159 basis points, an all-time high. The Bond Market is closed for Veterans Day.

Commentary/New Issues

Corporate:
$2B IFC GLOBAL AAA/AAA, 2.125%, 11/17/27, +31.25 bps$1.75B JPMORGAN CHASE AA3/A+ , 2.30%, 1/15/16, +140 bps$1.5B ODEBRECHT DRILLING BAA3/BBB, 6.35%, 6/30/21, +370.3 bps$1B REPUBLIC OF PERU BAA3/BBB-, 5.625%, 11/18/50, +160.3 bps$450MM HEALTH CARE REIT BAA2/BBB-, 4.95%, 1/15/21,+237.5 bps

Agency:
$1B FFCB 1.50%, 11/16/15,+24.5 bps

ABS:
$5.5B NGN 2010-R2$875.6MM CNH 10-C$750MM NALT 2010-B $700MM AMCAR 10-4

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.