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.

CREDIT MARKETS

Treasuries:
Treasury prices slid Wednesday, lifting yields, but bounced off their lows after the U.S. government’s auction of 10-year notes garnered the most demand since April. At its second of three note and bond auctions this week, the Treasury Department sold $21 billion in the benchmark notes at a yield of 3.388 percent. Bidders sought 3.3 times the amount of bonds on offer, the highest ratio since April, and well above the 12-auction average of 3.09. Indirect bidders snapped up 53.6 percent vs. an average 42.3%, while direct bidders bought 8 percent compared with 13.5 percent in past auctions. On Thursday, the Treasury is selling $13 billion in 30-year bonds. Yields on the long bond were up 4 basis points at 4.53 percent.
Economic Data: Initial Jobless Claims, Continuing Claims, PPI and Trade Balance.

Commentary/New Issues

Corporate:
$4.0B, HSBC BANK PLC, AA2/AA, 4PT, $900MM, 1/18/13, +3ML+40bps; $1.35B, 1/17/14, +3ML+80bps; $750MM, 2.00%, 1/19/14, +105bps; $1.0B, 4.75%, 1/19/21, +140bps$2.0B, BNP PARIBAS, AA2/AA, 5.00%, 1/15/21, +175bps$1.25B, NOMURA HOLDINGS, BAA2/BBB+, 4.125%, 1/19/16, +225bps$420MM, ELM ROAD GENERATING, A2/A-, 2PT, $205MM, 4.673%, 1/19/31, +130bps; $215MM, 5.848%, 1/19/41, +130bps

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 as traders looked past lower than forecast yields at a U.S. sale of three year debt and focused on $34 billion of note and bond auctions scheduled for the next two days. Yields on the 10-year note were up 5 basis points at 3.34%, breaking with three days of declines. Yields on the 2-year note stayed up 3 basis points at 0.59%. The Treasury Department sold $32 billion in 3-year notes for a yield of 1.027%. Bidders offered to buy 3.06 times the amount of bonds on offer, close to an average of 3.08 for the last four 3-year auctions. Indirect bidders, bought 39.4%, up from an average 35.8%. Direct bidders, including money managers, bought 16.2% vs. a past average of 13.9%. On Wednesday, Treasury will sell $21 billion in 10-year notes, with another auction, $13 billion in 30-year bonds set for Thursday.
Economic Data: MBA Mortgage Applications, Import Price Index and Fed’s Beige Book.

Commentary/New Issues

Corporate:
$2.05B, CREDIT SUISSE, AA1/A+, 2PT, $1.25B, 2.20%, 1/14/14, +128bps; $800MM, 1/14/14, +3ML+96bps$500MM, O’REILLY AUTOMOTIVE, BAA3/BBB-, 4.875%, 1/14/21, +162.5bps$500MM, BANCO SANTANDER (CHILE), AA3/A+, 1/19/16, +3ML+160bp

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 to a month low. Thirty-year bond yield lost one basis point to 4.47 percent and benchmark 10-year notes ended at 3.29 percent, down three basis points. 2-year and 5-year note yield lost two and three basis points respectively to close at 0.57 percent and 1.92 percent. The Fed bought $7.79 billion in Treasuries due from February 2018 to August 2020 as part of the program Quantitative Easing II. The government will sell $32 billion in three-year debt tomorrow as part of the $66 billion in securities it plans to sell this week.
Economic Data: NFIB Small Business Optimism, JOLTs Job Openings, Wholesale Inventories and ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$250MM, ANZ NATIONAL INT’L, AA2/AA/AA-, 12/20/13, 3ML+100 bps$600MM, COMMONWEALTH EDISION, 1.625%, 1/15/14, +70 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 for a second day in a row on Friday after a report that the U.S. employers added fewer jobs in December than forecast and on remarks of Fed Chairman Ben Bernanke that it can take up to five years for the labor market to “normalize fully”. The unemployment rate dropped to 9.4 percent, the lowest level since May 2009. 30-year bonds gained sending yields down by five basis points to 4.48 percent. Benchmark 10-year note yield lost ten basis points to close at 3.32 percent and 5-year notes closed at 1.95 percent, down 13 basis points. 2-year note yield lost nine basis points to end the week at 0.59 percent. The Fed purchased $7.2 billion of Treasuries due from July 2013 to November 2014. Government will sell $66 billion of debt in the week of January 10.
Economic Data: NFIB Small Business Optimism, Wholesale Inventories, ABC Consumer Confidence, MBA Mortgage Applications, Fed’s Beige Book, Initial Jobless Claims, Continuing Claims, Consumer Price Index, University of Michigan Confidence.

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 sending yields down on speculation that the employment data on January 7 won’t be very optimistic for the Fed to raise interest rates. The central bank bought 36.5 percent of the $18.6 billion in Treasuries, due from January 2015 to June 2016 as part of the program Quantitative Easing II. 30-bonds ended flat at 4.53 percent and benchmark 10-year notes gained pushing yields down by four basis points to 3.42 percent. 5-year notes rose the most sending yields down five basis points to 2.08 percent and 2-year notes closed at 0.68 percent, down three basis points.
Economic Data: Unemployment Rate, Change in Private and Manufacturing Payrolls, Consumer Credit, and Average Hourly Earning MoM & YoY.

Commentary/New Issues

Corporate:
$2B, BARCLAYS BANK PLC 2-PT, AA3/AA-, $1.25B, 2.375%, 1/13/14, +135bps; $750MM, 1/13/14, 3ML+104 bps$1.5B, NETWORK RAIL INFRASTRUCTURE FINANCE, AAA/AAA, 1.50%, 1/13/14, +51.2 bps$1.5B, SUMITOMO MITSUI BANKING 2-PT, AA2/A+, $650MM, 1.95%, 1/14/14, $850MM 3.10%, 1/14/16, +103 bps$1.25B, BANK OF NOVA SCOTIA 2-PT, AA1/AA-, $500MM, 2.375%, 12/17/13, +60 bps; $750MM, 4.375%, 1/13/21, +100 bps$1B, JAPAN FINANCE ORGANIZATION, AA2/AA, 4.00%, 1/13/21, +68.5 bps$750MM, MACQUARIE GRP, A2/A-, 6.25%, 1/14/21, +300 bps$500MM, DR PEPPER SNAPPLE, BAA2/BBB, 2.90%, 1/15/16, +85 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 after better than expected ADP report showing that the U.S. employers increased payrolls by 163,000 in December, beating the highest forecast in a Bloomberg News survey. 30-year bonds fell sending yields up by 11 basis points to 4.53 percent and the benchmark 10-year note yield rose by 13 basis points to 3.46 percent. Five-year notes fell pushing yields up by 12 basis points to 2.13 percent and two-year notes closed at 0.71 percent, up nine basis points. The Institute for Supply Management’s non-manufacturing index rose from 55 to 57.1, signaling growth. The Fed bought $1.5 billion of U.S. debt due from August 2028 to November 2040 as part of the program Quantitative Easing II.
Economic Data: ICSC Chain Store Sales, Initial Jobless Claims, and Continuing Claims.

Commentary/New Issues

Corporate:
$5B, KFW, AAA/AAA, 1.375%, 1/13/14, +36.5 bps$2.75B, ANZ BANKING GROUP 3-PT, AA1/AA, $1B, 2.125%, 1/10/14, +102 bps; $750MM, 1/10/14, 3ML+74 bps; $1B, 4.875%, 1/12/21, +145 bps$1.6B, TOYOTA MOTOR CREDIT 2-PT AA2/AA, $900MM, 2.80%, 1/11/16, +70bps; $700MM, 4.25%, 1/11/21, +80 bps$1B, BNP PARIBAS FRN, AA2/AA, 1/10/14, 3ML + 90 bps$500MM, TYCO INT’L FINNCE 2-PT, BAA1/A-, $250MM, 3.75%, 1/15/18, +95bps; $250MM, 4.625%, 1/15/23, +125 bps$400MM, ORIX CORP, A3/A-, 5.00%, 1/12/16, +290 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 as minutes of the Federal Reserve’s last meeting showed that the economy was improving, since the Quantitative Easing II program began. 30-year bonds fell pushing yields up by five basis points to 4.42 percent and benchmark 10-year note yield gained one basis point to 3.33 percent. 5-year notes were unchanged at 2 percent while 2-year notes closed at 0.62 percent, up two basis points. Factory Orders unexpectedly rose 0.7 percent in November, as against a forecast of a 0.1 percent drop, according to a report by Commerce Department. The Treasury will sell $66 billion of securities next week.
Economic Data: MBA Mortgage Applications, ADP Employment Change, and ISM Non-Manf. Composite.

Commentary/New Issues

Corporate:
$6B, GE CAPITAL 4-PT, AA2/AA+, $1B, 3ML+57bps, 1/7/13,+57bps; $1.25B, 3ML+85bps, 1/7/14, +85bps; $1.75B, 2.10%, 1/7/14, +110bps; $2B, 4.625%, 1/7/21, +135 bps$3.5B, EIB, AAA/AAA, 2.25%, 3/15/16, +38.55 bps$2.75B, RABOBANK 2-PT, AAA/AAA, $1.25B, 1.85%, 1/10/14, +85 bps; $1.50B 4.50%, 1/11/21, +120 bps$2B, ROYAL BANK OF SCOTLAND 2-PT, AA3/A+, $500MM, 3.25%, 1/11/14, +235bps; $1.5B, 6.125%, 1/11/21, +285 bps$1.5B METLIFE GLOBAL FUNDING 3-PT, AA3/AA-, $500MM, 3ML+75bps, 1/10/14; $500MM, 2.00%, 1/10/14, +100bps; $500MM, 3.125%, 1/11/16, +115 bps $1B, DEUTSCHE BANK AG, AA3/A+, 3.25%, 1/11/16, +130 bps$650MM, BUCKEYE PARTNERS, BAA2/BBB, 4.875%, 2/1/21,+160 bps$550MM, CENTERPOINT ENERGY 2-PT, BAA3/BBB, $250MM, 4.50%, 1/15/21, +120bps; $300MM, 5.85%, 1/15/41, +145 bps$500MM HEALTH CARE SERVICES, A2/AA-, 4.70%, 1/15/21, +140 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 after the report showed that in December the manufacturing grew at the fastest pace in seven months and in November the construction spending increased. 30-year bonds fell, sending yields up by five basis points to 4.38 percent and benchmark 10-year note yield increased four basis points to 3.33 percent. 5-year notes were unchanged at 2 percent and 2-year notes ended at 0.60 percent, up one basis point. Fed bought $7.79 billion of Treasuries maturing from February 2018 to August 2020 as part of the program Quantitative Easing II. On January 4, government will purchase $1 to $2 billion of TIPS due from July 2012 to February 2040.
Economic Data: Factory Orders, Minutes of FOMC Meeting, ABC Consumer Confidence and Total Vehicle Sales.

Commentary/New Issues

Corporate:
$1.5B, BERKSHIRE HATHAWAY FINANCE, 3-PT; AA2/AA+, $375MM, 1/10/14, 3ML+33 bps; $375MM, 1.50%, 1/10/14, +58 bps; $750MM, 4.25%, 1/15/21, +95 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.