CREDIT MARKETS

Treasuries:
Treasuries fell on Thursday recording a fourth weekly drop and pushing yields up across the curve as reports showed initial jobless claims fell and consumer spending increased for a fifth month. Initial filings for unemployment insurance declined to 420,000, down 3,000 and in line with the median forecast in a Bloomberg survey according to a report by Labor Department. The Thomson Reuters/ University of Michigan final index of consumer sentiment rose to 74.5 in December, a six-month high and matching the median forecast of 59 economists in a Bloomberg survey. 30-year bond yield closed the week at 4.45 percent, up one basis point and benchmark 10-year bonds declined sending yields up by three basis points to 3.38 percent. 5-year bond yields rose five basis points to 2.05 percent and 2-year bond yield was up three basis points to close at 0.65 percent.
Economic Data: Dallas Fed Manufacturing Activity

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 were flat yesterday after reports that the U.S. economy expanded and existing home sales increased less than forecast. The U.S. economy expanded at a 2.6 percent annual rate in the third quarter and home purchases increased 5.6 percent from the prior month to a 4.68 million annual rate. The Fed bought $2.07 billion of Treasuries due from February 2021 to February 2027 today as part of Quantitative Easing II program. 30-year bonds were unchanged at 4.44 percent and 10-year benchmark notes fell pushing yields up by one basis point to 3.34 percent. 5-year note yield ended at 1.99 percent, up two basis points and 2-year note yield rose one basis point to 0.63 percent.
Economic Data: Initial Jobless Claims, Continuing Claims, Personal Income and Spending, Durable Goods Orders and PCE Deflator.

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 were mixed yesterday as the Federal Reserve purchased $9.4 billion of notes and inflation-indexed debt. Fed bought $7.790 billion of notes maturing from June 2016 to November 2017 and $1.619 billion of TIPS maturing from July 2012 to February 2040. 30-year bonds were unchanged at 4.44 percent and 10-year notes rose sending yields down by one basis points. 5-year notes fell pushing yields up by two basis points and 2-year note yield closed at 0.61 percent, up one basis point. Moody’s Investors Service put Portugal’s government bond ratings on watch yesterday.
Economic Data: MBA Mortgage Applications, GDP QoQ (Annualized), Personal Consumption, GDP Price Index, Existing Home Sales MoM, and House Price Index MoM.

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 treasuries fell yesterday while short-term debt was little changed as Fed concluded purchases of $14.6 billion in debt as part of quantitative easing II program. The central bank bought $7.790 billion in debt maturing from 2018 to 2020 and $6.779 billion of treasuries maturing from 2014 to 2016. The amount purchased yesterday was the largest since the start of QE II program. The difference between 10-year and 30-year yields shrank to 1.10 percent from a record 1.60 percent last month, the fastest contraction since the 1980s. 30-year bonds fell sending yields up by two basis points to 4.44 percent and benchmark 10-year note yield also rose two basis points to 3.34 percent. 5-year note yield ended at 1.96 percent, up one basis points and 2-year notes were unchanged at 0.60 percent.
Economic Data: ABC Consumer Confidence

Commentary/New Issues

Corporate:
$370MM, NASDAQ QMX, BAA3/BBB, 5.25%, 1/16/18, +270 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:
Treasuries rallied on Friday sending yields sharply down and 10-year note yield down the most over two days since June. Government bought $2.03 billion in Treasuries maturing from August 2028 to November 2040 on Friday, part of $105 billion in purchases in December. The New York-based Conference Board’s leading economic indicators rose 1.1 percent in November matching the median forecast of 59 economists in a Bloomberg survey and Moody’s Investors Service lowered Ireland’s credit rating to Baa1 from Aa2, down five levels. Congress passed $858 billion bill extending for two years all tax cuts of Bush administration. 30-year bonds rose pushing yields down 14 basis points to 4.41 percent and benchmark 10-year note ended at 3.32 percent, down 12 basis points. 2-year note yield closed at 0.60 percent and 5-year notes ended the week at 1.95 percent.
Economic Data: ABC Consumer Confidence, MBA Mortgage Applications, GDP QoQ (Annualized), Personal Consumption, GDP Price Index, Existing Home Sales, Initial Jobless Claims, Continuing Claims, and U. Michigan Confidence.

Commentary/New Issues

Corporate: Nothing

Agency: Nothing

ABS:
$750MM PENARTH MASTER

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 across the curve sending yields up and benchmark 10-year note yield touching seven-month highs. Government debt fell on speculation that the President Obama’s agreement to extend tax cuts will pass in Congress, thereby supporting economic growth. 30-year bond yield rose four basis points to 4.58 percent and 10-year note yield was up two basis points to 3.51 percent. 2-year and 5-year notes dropped pushing yields higher by one and two basis points respectively. Industrial production increased 0.4 percent, more than forecast in November while consumer prices increased 0.1 percent in November. The difference between yields on 10-year notes and TIPS widened to 2.33 percent, widest in more than six months.
Economic Data: Housing Starts, Building Permits, Initial Jobless Claims, and Continuing Claims.

Commentary/New Issues

Corporate:
$750MM, CR BARD 2-PT, A3/A, $250MM, 2.875%, 1/15/16, +83 bps; $500MM 4.40%, 1/15/21, +100 bps$500MM, AGRIUM INC, BAA2/BBB, 6.125%, 1/15/41, +160 bps$250MM, TYCO ELECTRONICS GROUP SA, BAA2/BBB, 4.875%, 1/15/21, +145 bps

Agency: Nothing

ABS:
$1.1B BRHEA 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 fell yesterday pushing yields up and 30-year bond yield touching seven-month high. Government report showed that the retail sales rose more than forecast and producer prices increased the most in last eight months. Retail sales gained 0.8 percent in November versus the median forecast of 0.6 percent. The producer price index increased 0.8 percent in November. Thirty-year bond yield increased 13 basis points to 4.54 percent and benchmark 10-year notes fell sending yields up by 21 basis points to 3.48 percent. Two-year note yield gained six basis points to 0.64 percent and 5-year note yield touched 2.1 percent, up 19 basis points. The extra yield investors demand on ten-year notes over 2-year notes touched the highest level in more than six months.
Economic Data: MBA Mortgage Applications, Consumer Price Index, and Empire Manufacturing.

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:
Treasury prices turned higher on Monday, pushing 10-year yields down from the highest since May, after the Federal Reserve finished the first of four bond buybacks this week. Yields on 10-year notes , fell 3 basis points to 3.28%. Earlier, yields on the benchmark securities reached 3.40%, the highest since May. Yields have risen sharply in four of the past five weeks, up from 2.54% in early November. Yields on 2-year notes turned down by 4 basis points to 0.58%. Yields on 30-year bonds declined 2 basis point to 4.41%, after also touching the highest level since May. The Fed will hold four buyback operations this week, lending some support to the market. Bond dealers and investors expect Treasury yields to rise more convincingly next year, after it looks more likely that Congress and the White House will approve a tax package expected to boost consumer spending and growth.
Economic Data: PPI, Retail Sales and FOMC Meeting.

Commentary/New Issues

Corporate:
$2.6B, Occidental Petroleum, 3-pt, A2/A, $600MM, 1.45%, 12/13/13, +50bps; $700MM, 2.50%, 2/01/16, +60bps; $1.3B, 4.10%, 2/01/21, +80bps$1.0B, IBM, AA3/A+, 6/15/12, +3ML+3$750MM, SAIC, Inc., 2-pt, A3/A-, $450MM, 4.45%, 12/1/20, +120bps; $300MM, 5.95%, 12/1/40, +155bps$500MM, Caterpillar Financial, A2/A, 1.55%, 12/20/13, +60bps

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 on Friday on reports of increases in U.S. exports and consumer confidence, which reduced the demand for the safe government debt. Yields approached the highest level in more than six months as investors felt confident that the tax cuts will help spur the economic recovery. Benchmark 10-year notes dropped sending yields up by 10 basis points to 3.31 percent. 30-year bond yield rose 2 basis points to 4.43 percent. 2-year notes were flat at 0.62 percent and 5-year note yield rose 9 basis points to 1.97 percent. The trade deficit narrowed 13 percent to $38.7 billion, which was less than the lowest estimate, according to a report by Commerce Department.
Economic Data: NFIB Small Business Optimism, Retail Sales, FOMC Rate Decision, ABC Consumer Confidence, MBA Mortgage Applications, Consumer Price Index, Housing Starts, Initial Jobless Claims, Continuing Claims, and Philadelphia Fed.

Commentary/New Issues

Corporate: Nothing

Agency: Nothing

ABS:
$1.161B NCUA (NGN) 10-A1 $948MM SDART 2010-B

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 gained yesterday sending yields down on benchmark 10-year notes and 30-year bonds. Government sold 30-year debt at a yield of 4.41 percent versus the forecast of 4.477 percent. Indirect bidders bought 49.5 percent and direct bidders bought 8.1 percent. Bid-to-cover ratio was 2.74. The central bank bought $8.31 billion of Treasuries maturing from November 2016 to November 2017 as part of $600 billion QE2 program. The 30-year bond yield fell two basis points to 4.41 percent and 10-year bond yield closed at 3.2 percent, down two basis points. Five-year note yield gained four basis points to end at 1.89 percent and two-year notes were little changed at 0.62 percent.
Economic Data: Trade Balance, Import Price Index, University of Michigan Confidence, and Monthly Budget Statement.

Commentary/New Issues

Corporate:
$800MM LIFE TECHNOLOGIES 2-PT, BA1/BBB, $400MM, 3.50%, 1/15/16, +165 bps; $400MM, 5.00%, 1/15/21, +185 bps$400MM UNION BANK, A2/A+, 2.125%, 12/16/13, +125 bps$250MM SNAP-ON, BAA1/A-, 4.25%, 1/15/18, +170 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.