CREDIT MARKETS

Treasuries:
Treasuries rose on Friday pushing yields down sharply across the curve as concerns over protests in Egypt increased demand for the relative safer U.S. debt. 30-year bonds rose to close the week at 4.53 percent and benchmark 10-year note yield was down six basis points to 3.33 percent. 2-year debt was down four basis points to 0.55 percent and 5-year notes ended at 1.92 percent, down six basis points. The Commerce Department report showed that the U.S. GDP grew at a 3.2 percent annual pace for October-December period. The Fed bought Treasuries due between February 2018 and August 2020 as part of the program Quantitative Easing II.
Economic Data: Personal Income, Dallas Fed Manufacturing Activity, Construction Spending, ABC Consumer Confidence, Domestic Vehicle Sales, MBA Mortgage Applications, Initial Jobless Claims, Continuing Claims, Nonfarm Payroll and Unemployment Rate.

Commentary/New Issues

Corporate: Nothing

Agency: $5B, FANNIE MAE, 1.25%, 2/27/14, +26.5 bps

ABS: $384MM NSLT 2011-1

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 sending yields down across the curve with the gap between 2- and 30-year debt widening to almost record levels, indicating the risk of inflation in long term. 30-year bonds closed at 4.57 percent, down two basis points and benchmark 10-year notes ended at 3.391 percent, down three basis points. 2-year debt fell the most closing at 0.586 percent, down five basis points. The Fed sold $29 billion of 7-year notes at a yield of 2.744 percent and bid to cover ratio of 2.85. Indirects bought 52.1 percent versus an average of 50.9 percent at the last 10 auctions while Directs took 5.7 percent. Government bought $5.8 billion of debt maturing from November 2012 to July 2013 as part of the program Quantitative Easing II.
Economic Data: GDP, Personal Consumption, and University of Michigan Confidence.

Commentary/New Issues

Corporate:
$3B, MARATHON PETE., BAA2/BBB, 3 PT, $750MM, 3.50%, 3/1/16, +155bps; $1B, 5.125%, 3/1/21, +175bps; $1.25B, 6.50%, 3/1/41, +200bps$2B, ABN-AMRO, 2-PT, AA3/A, $1B, 3.00%, 1/31/14, +205 bps; $1B, 1/30/14, 3ML+77 bps$700MM, KIMBERLY-CLARK, 2PT, A2/A, $250MM, 3.875%, 3/1/21,+60 bps; $450MM, 5.30%, 3/1/41, +80 bps$676.4MM, US BANCORP, A2/BBB+, 3.442%, 2/1/16, +145 bps

Agency: Nothing

ABS:
$1B TAOT 2011-A

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 sending yields up across the curve after a report showed sales of new homes rose more than forecast in December. 30-year bonds ended at 4.59 percent, up 11 basis points and benchmark 10-year note yield was up 10 basis points at 3.42 percent. 2-year and 5-year note yields were up 6 basis points to 0.63 and 1.99 percent respectively. Fed sold $35 billion of 5-year notes at a yield of 2.041 percent versus the forecast of 2.061 percent with bid-to-cover ratio of 2.97. Indirect bidders bought 45 percent and directs took 9.6 percent. Government will sell $29 billion of 7-year notes on January 27.
Economic Data: Chicago Fed Nat Activity Index, Durable Goods Orders, Durables Ex Transportation, Initial Jobless Claims, Continuing Claims and Pending Home Sales.

Commentary/New Issues

Corporate:
$1.5B, BANK OF AMERICA, A2/A/A+, 1/30/14, 3ML+142 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 rose sharply yesterday sending yields down across the curve with 30-year bond yields falling the most this year. 30-year bonds closed at 4.49 percent, down seven basis points and benchmark 10-year note yield was down eight basis point to 3.33 percent. The Fed bought $7.7 billion of Treasuries maturing from February 2015 to June 2016 as part of program Quantitative Easing II. Fed auctioned 2-year notes at a yield of 0.65 percent versus the forecast of 0.663 percent and bid to cover ratio was 3.47 with indirects buying 27 percent. Government will sell 5-year notes on January 26. The S&P CaseShiller index of home values fell 1.6 percent in November from a year earlier.
Economic Data: MBA Mortgage Applications, New Home Sales, and FOMC Rate Decision.

Commentary/New Issues

Corporate:
$1.75B, UBS AG 2PT, AA3/A+, $1B, 2.25%, 1/28/14, +127 bps; $750MM, FRN, 1/28/14, 3ML+100 bps$1.2B, BANK OF NY MELLON 3-PT, AA2/AA-, $350MM, FRN, 1/31/14, 3ML+28bps; $350MM, 1.50%, 1/31/14, +55bps; $500MM, 4.15%, 2/01/21, +85 bps

Agency: Nothing

ABS:
$1.137B, FORD 2011-A

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 little changed yesterday with difference between 2-year and 30-year debt still around record high levels. 30-
year bonds closed at 4.56 percent, down one basis point and benchmark 10-year debt was also down one basis point to 3.4 percent. 2-year notes were unchanged at 0.62 percent while 5-year notes closed above 2 percent. Government will sell $99 billion of notes this week. The Fed bought $8.9 billion of Treasuries due from August 2016 to December 2017, 39.7 percent of the amount holders offered, as part of the program Quantitative Easing II.
Economic Data: S&P/ CaseShiller Home Price Index, Consumer Confidence, Richmond Fed Manufacturing Index, and ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$1.65B, ANHEUSER-BUSCH 3PT, BAA2/BBB+, $650MM, FRN, 1/27/14, 3ML+55bps; $500MM, 2.875%, 2/15/16, +90bps; $500MM, 4.375%, 2/15/21, +105 bps$1B, NATL BK OF CANADA, AAA/-/AAA, 1.65%, 1/30/14, +62.2 bps

Agency: Nothing

ABS:
$686.5MM GE CAP Card$150MM FIAOT 2011-1

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 on Friday sending yields down across the curve as the Fed bought more U.S. debt than it normally buys as part of Quantitative Easing II. The Fed purchased $8.36 billion in the 7-10 year sector and more than half of the purchases were in the 2019 sector. 30-year bonds closed at 4.57 percent, down three basis points and benchmark 10-year notes were down three basis points too at 3.41 percent. 2-year notes were little changed at 0.613 percent while 5-year note yield was down two basis points to 2.02 percent. Next week Treasury will sell $99 billion in 2-, 5- and 7- year notes in daily auctions beginning on January 25.
Economic Data: S&P/ CaseShiller Home Price Ind, S&P/ CS Composite-20 YoY, Consumer Confidence, House Price Index MoM, ABC Consumer Confidence, MBA Mortgage Applications, Initial Jobless Claims, Continuing Claims, and Pending Home Sales.

Commentary/New Issues

Corporate:
$2.5B, GOLDMAN SACHS, A1/A, 6.25%, 2/1/41, +170 bps$2B, CNOOC FINANCE, 2-PT, AA3/AA-, $1.5B, 4.25%, 1/26/21, +100 bps; $500MM, 5.75%, 1/26/41, +120 bps$2B, LLOYDS TSB BANK FRN, AA3/A+, 1/24/14, 3ML+235 bps$2B, TOTAL CAPITAL 3-PT, AA1/AA, $750MM, 1/17/14, 3ML+38 bps; $750MM, 1.625%, 1/28/14, +65 bps; $500MM, 4.125%, 1/28/21,+80 bps$1.3B, ONEOK PARTNERS 2-PT, BAA2/BBB, $650MM, 3.250%, 2/1/16, +125 bps; $650MM, 6.125%, 2/1/41,+160 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 rose yesterday sending yields down across the curve after a report showed that the housing starts declined more than forecast last month and the difference between 30- and 2- year debt remained near the record high over the concerns that the inflation will accelerate in the long run. According to Commerce Department, housing starts fell 4.3 percent to a 529,000 annual rate versus forecast of 550,000, the lowest level since October 2009. The Fed purchased $7.7 billion in Treasuries due from December 2013 to January 2014 as part of the program Quantitative Easing II. Treasury will announce on Jan 20 the size of 2-, 5-, and 7- year note auctions next week.
Economic Data: Initial Jobless Claims, Continuing Claims, Existing Home Sales, and Philadelphia Fed.

Commentary/New Issues

Corporate:
$5B, IBRD, AAA/AAA, 2.125%, 3/15/16, +28 bps$2.4B, HCP INC BAA2/BBB, 4PT, $400MM, 2.70%, 2/1/14/19, +175bps; $500MM, 3.750%, 2/1/16, +190bps; $1.2B, 5.375%, 2/1/21, +210bps; $300MM, 6.750%, 2/1/41, +230bps$1.75B, ESKOM HOLDINGS, BAA2/BBB+, 5.75%, 1/26/21, +250 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 fell yesterday pushing yields up across the curve and the difference in yields between 2- and 30- year Treasuries increased to a record on speculation that the inflation will accelerate in long-term. 30-year bonds fell sending yields up by two basis points to 4.56 percent and benchmark 10-year note yield also increased two basis points to end at 3.36 percent. 5-year notes ended at 1.94 percent, up two basis points and 2-year notes ended flat at 0.58 percent. Government will announce auctions of 2-, 5-, and 7-year notes on January 20. China reduced its U.S. Treasuries holdings by 1.2 percent to $895.6 billion whereas Japan increased its U.S. debt holding by 0.3 percent to $877.2 billion.
Economic Data: MBA Mortgage Applications, Housing Starts MoM, and Building Permits MoM.

Commentary/New Issues

Corporate:
$4.5B, EIB, AAA/AAA, 1.25%, 2/14/14, +34.65 bps$1.5B, BANK OF MONTREAL, AAA/AAA, 2.625%, 1/25/16, +67.75 bps$500MM, PROGRESS ENERGY, BAA2/BBB, 4.40%, 1/15/21, +108 bps$300MM, BACARDI LTD, BAA1/BBB, 4.50%, 1/15/21, +115 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:
Treasury prices turned lower in afternoon trading Friday, pushing yields higher, as some relief over largely expected U.S. reports on inflation and retail sales gave way to profit-taking after the 10-year yield touched the low end of a recent range. Yields on 10-year notes rose 3 basis points to 3.33% as prices declined. Data released Friday showed that U.S. consumer prices rose 0.5% in December, the largest increase since June 2009. The numbers matched economists’ expectations. Meanwhile, the Commerce Department reported that sales at U.S. retail stores rose 0.6% in December — the sixth straight month of increases. Treasuries’ moves will likely hinge on a deterioration in Europe’s debt crisis, which seemed to stabilize this week.
Economic Data: Empire Manufacturing, NAHB Housing Market Index, Housing Starts, Initial Jobless Claims and Existing Home Sales.

Commentary/New Issues

Corporate:
$3.25B, JPMORGAN CHASE, AA3/A+, 2PT, $1.25B, 2.05%, 1/24/14, +110bps; $2.0B, 1/24/14, +3ML+80bps

Agency:
$1.3B, FFCB, 1.125%, 2/27/14, +22.5bps

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 rose Thursday, buoyed by Federal Reserve purchases and a rise in jobless claims, and after the latest bond auction removed the overhang from the week’s $66 billion in new government issues. Yields on the 10-year note fell 7 basis points to 3.30 percent, while yields on 2-year notes were off 2 basis points at 0.58 percent. Treasuries got an early lift after weekly U.S. jobless claims rose to their highest level in more than two months but bobbed between small gains and losses as institutional investors prepared for the 1 p.m. sale of 30-year bonds, the third of three debt sales this week. Bonds largely held to gains after the Treasury Department said it sold $13 billion in 30-year bonds at a yield of 4.515 percent. Bidders offered 2.67 times the amount of bonds on offer, matching an average of the past 12 auctions. Indirect bidders bought 38 percent of the bonds, up from a 12-auction average of 36.5 percent. Direct bidders, including took 12 percent vs. an average 16.4 percent.
Economic Data: CPI, Advance Retail Sales, U of Michigan Confidence and Industrial Production.

Commentary/New Issues

Corporate:
$4.75B, LLOYDS TSB BANK, AA3/A+, 2 PT, $2.25B, 4.875%, 1/21/16, +3–bps; $2.50B, 6.375%, 1/21/21, +312.50bps$1.75B, CREDIT AGRICOLE, AA1/AA-, $500MM, 2.625%, 1/21/14, +175bps; $1.25b, 1/21/14, +3ML+145bps$325MM, TEXAS GAS TRANSMISSION, BAA1/BBB, 4.50%, 2/1/21, +120BPS$300MM, GEORGIA POWER, A3/A, 1/15/13, +3ML+27bps$250MM, PS OKLAHOMA, BAA1/BBB, 4.40%, 2/1/21, +115bps

Agency:
$5B, FANNIE MAE, .75%, 2/26/13, +21.5bps

ABS:
$1.25B, AMOT 11-1

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.