CREDIT MARKETS

Treasuries:
Treasuries rallied on Friday recording biggest weekly gain in almost ten months as unstable conditions in middle-east made investors move to the safe U.S. debt. 30-year bonds gained sending yields down by three basis points to 4.51 percent and benchmark 10-year note yield was also down three basis points to 3.42 percent. 2-year debt closed at 0.72 percent and 5-year notes ended the week at 2.16 percent. The Fed continued its buying of U.S. debt under the program Quantitative Easing II and bought $7.2 billion of debt maturing from May 2018 to February 2021. The difference between 10-year notes and TIPS widened to 244 basis points, the most in last eleven months. According to the Commerce Department, the U.S. economy grew at a rate of 2.8 percent annualized in the last quarter of 2010. Economic Data: Personal Income and Spending, Pending Home Sales, Dallas Fed Manufacturing Activity, MBA Mortgage Applications, ADP Employment Change, Initial Jobless Claims, Continuing Claims, and Unemployment Rate.

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 rose on Thursday, pushing yields down, as investors sought the shelter of U.S. debt on worries about rising oil prices crimping the global recovery, though gains cooled as oil turned lower. The government sold $29 billion in seven-year notes, with sufficient demand, but not weak or strong enough to sway the market. Yields on 10-year notes fell four basis points to 3.45 percent. Yields on two-year notes slipped one basis point to 0.74 percent. Thirty-year bond yields declined five basis points to 4.54 percent. Yields on the current seven-year notes slid 1 basis point to 2.86 percent after the Treasury Department announced results for $29 billion in seven-year notes, its final auction of the week. The sale garnered a yield of 2.854 percent. Bidders offered 2.86 times the amount bond bonds on offer, slightly more than the average of 2.85 in the last four monthly auctions. Indirect bidders, purchased 50 percent versus an average of 52.2 percent in recent sales.
Economic Data: GDP (second reading), Personal Consumption and U. of Michigan Confidence.

Commentary/New Issues

Corporate:
$500MM, VIRGIN MEDIA, BAA3/BBB-, 5.25%, 1/15/21, +187.5 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 dropped yesterday as government sold $35 billion of 5-year notes that drew lower demand than forecast. The auction went at a yield of 2.19 percent versus the forecast of 2.17 percent and bid-to-cover ratio was 2.69. Indirect bidders took 34.2 percent of the notes and directs bought 7.7 percent of the securities. In today’s buy-back, the Fed purchased securities maturing from August 2028 to February 2041 as part of the $600 billion program Quantitative Easing II. Purchases of existing homes rose 2.7 percent last month to 5.36 million annual rate, versus the forecast of 1.1 percent drop. Economic Data: Durable Goods Orders, Cap Goods Orders, New Home Sales, and House Price Index.

Commentary/New Issues

Corporate:
$1.7B, MCKESSON CORP 3-PT, BAA2/A-, $600MM, 3.25%, 3/1/16, +115 bps; $600MM, 4.75%, 3/1/21,+130 bps; $500MM, 6.00%, 3/1/41, +150 bps$1.1B, KINDER MORGAN ENERGY PTNRS 2-PT, BAA2/BBB, $500MM, 3.50%, 3/1/16, +135bps; $600MM, 6.375%, 3/1/41, +180 bps$450MM, AMERICAN HONDA FINANCE, A1/A+, 8/28/12, 3ML+22 bps$400MM, WASTE MANAGEMENT, BAA3/BBB, 4.60%, 3/1/21,+118 bps$285MM, CATERPILLAR FINANCIAL, A2/A, 2/22/13, 3ML+16 bps$250MM, WYNDHAM WORLDWIDE, BA1/BBB-, 5.625%, 3/1/21, +225 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, on concerns of violence in Libya, sending yields down across the curve and the $35 billion of 2-year note auction drew the highest demand since November last year. The auction went at a yield of 0.745 percent versus the forecast of 0.752 percent and bid-to-cover ratio was 3.03 as compared to an average of 3.40 for last 10 auctions. Indirects bought 31.3 percent of the notes and directs took 6.8 percent of the securities. The Fed bought $7.2 billion of Treasuries due from August 2016 to February 2018 as part of the buy-back program Quantitative Easing II. Government will sell $35 billion of 5-year notes on February 23.
Economic Data: MBA Mortgage Applications, and Existing Home Sales.

Commentary/New Issues

Corporate:
$1B, ANZ BANKING GROUP, AA1/AA, 3.25%, 3/1/16, +120 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 on Friday sending long-term yields up after the European Central Bank indicated the need to raise the interest rates on inflation concerns. 30-year bond yield rose four basis points to 4.70 percent and benchmark 10-year notes closed at 3.59 percent, up two basis points. 2-year debt was little changed at 0.76 percent while 5-year notes were unchanged for the day at 2.28 percent. The Fed bought $6.7 billion of U.S. debt due from January 2014 to October 2014 as part of the program QE II to support the economic expansion. Treasury will sell $35 billion of 2-year notes on February 22 as part of the $99 billion of note auctions over a period of three days.
Economic Data: S&P/ CaseShiller Home Price Index, Consumer Confidence, MBA Mortgage Applications, Existing Home Sales, Initial Jobless Claims, Continuing Claims, GDP Price Index, Personal Consumption, and University of Michigan Confidence.
Economic Data: Nothing

Commentary/New Issues

Corporate: Nothing

Agency: Nothing

ABS:
$840MM, NGN 2011-C1$284.5MM, MEF 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 rose yesterday sending yields down across the curve as tensions rose in the Mideast region. 30-year bond yield fell one basis point to 4.66 percent and benchmark 10-year notes closed at 3.57 percent, down four basis points. 2- and 5-year notes both saw yields falling by seven basis points to 0.77 and 2.28 percent respectively. Government sold $9 billion of TIPS at a yield of 2.19 percent and bid-to-cover ratio of 2.54. Treasury told that it will sell $99 billion of notes next week. The Fed bought $7.2 billion of debt maturing from May 2018 to August 2020 as part of the program QE II and applications for jobless benefits increased by 25,000 to 410,000 in the week ended February 12 vs. expectations of 400,000.
Economic Data: Nothing

Commentary/New Issues

Corporate:
$1B, AFDB, AAA/AAA, 2.50%, 3/15/16, +26.6 bps$2B, BNP PARIBAS, AA2/AA, 3.60%, 2/23/16, +135 bps$3B, JPMORGAN CHASE, AA3/A+, 3.45%, 3/1/16, +120 bps

Agency: Nothing

ABS:
$441.2MM, Ally Master Owner Trust 2011-2$1B, HAROT 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 fell yesterday pushing yields up across the curve after the Fed released minutes of its January meeting where the policy makers voted to continue with the $600 billion program Quantitative Easing II. 30-year bond yield rose two basis points to 4.67 percent and benchmark 10-year notes closed at 3.62 percent, up one basis point. 2-year debt yield rose two basis points to 0.84 percent and 5-year note yield was up one basis point to 2.34 percent. The Fed bought $1.9 billion of Treasuries maturing from May 2021 to November 2027 as part of the program QE II to spur the economic growth.
Economic Data: Consumer Price Index, Initial Jobless Claims, Continuing Claims, MBA Mortgage Foreclosures, Leading Indicators, and Philadelphia Fed.

Commentary/New Issues

Corporate:
$800MM, DOVER CORP 2-PT, A2/A, $450MM, 4.30%, 3/1/21,+68 bps; $350MM, 5.375%, 3/1/41, +78 bps$350MM, RYDER SYSTEMS, BAA1/BBB+, 3.15%, 3/2/15, +125 bps

Agency:
$3B, FHLB, 1.00%, 3/27/13, +16.5 bps

ABS:
$1.092B MBALT 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:
Treasuries gained yesterday after the report showed that the retail sales rose less than forecast. Retail sales in January rose 0.3 percent versus median forecast of 0.5 percent. Yields of both 30-year bonds and benchmark 10-year notes declined by one basis point to 4.66 and 3.61 percent respectively. 2-year and 5-year notes both rose pushing yields down by two basis points to 0.82 and 2.33 percent respectively. The Fed purchased Treasuries due from February 2015 to August 2016 as part of the program Quantitative Easing II to spur the economy. The difference between 2- and 30-year debt was little changed from yesterday at 384 basis points showing the concern for higher inflation over the long term.
Economic Data: MBA Mortgage Applications, Housing Starts, Building Permits, Producer Price Index, and Minutes of FOMC Meeting.

Commentary/New Issues

Corporate:
$1.5B, EBRD, AAA/AAA, 2.50%, 3/15/16, +25.1 bps$1B, BK OF TOKYO MITSUBISHI UFJ, AA2/A+, $500MM, 2/24/14, 3ML+66bps; $500MM, 2.25%, 2/24/14, +87.5 bps$850MM, NOBLE ENERGY, BAA2/BBB, 6.00%, 3/01/41, +137.5 bps$400MM, COCA COLA ENTERPRISES 2-PT, A3/BBB, $100MM, 2/18/14, 3ML+30bps; $300MM, 4.50%, 9/1/21, +93 bps$300MM, DEUTSCHE BANK, AA3/A+, 3.25%, 1/11/16, +116 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 gained for a second straight day as investors rushed in to lock yields almost at 10 month highs and as Obama administration submitted a budget to cut deficit over next 10 years. 30-year bonds rose sending yields down by three basis points to 4.67 percent and benchmark 10-year note yield ended at 3.62 percent, down two basis points. 2-year debt yield rose one basis point to 0.84 percent while 5-year note yield was down one basis point to 2.36 percent. The Fed bought $1.5 billion of TIPS due from January 2014 to February 2040 as part of the $600 billion program Quantitative Easing II to help grow the economy. The difference between 2- and 30-year debt narrowed to 383 basis points from a record 401 basis points early this month.
Economic Data: Empire Manufacturing, Import Price Index, Advance Retail Sales, Business Inventories, ABC Consumer Confidence, and NAHB Housing Market Index.

Commentary/New Issues

Corporate: $3B, INTESA SANPAOLO 2-PT, AA2/A+, 2/24/14, 3ML+240 bps; $1B, 6.50%, 2/24/21, +300 bps$2.75B, ADB, AAA/AAA, 2.50%, 3/15/16, +24.65 bps$2.2B, THERMO FISHER SCIENTIFIC 3-PT, BAA1/A-, $300MM, 2.05%, 2/21/14, +65bps; $900MM, 3.20%, 3/1/16, +85bps; $1B, 4.50%, 3/1/21, +95 bps$1.4B, HONEYWELL INT’L 2-PT, A2/A, $800MM, 4.25%, 3/1/21, +68bps; $600MM, 5.375%, 3/1/41, +78 bps$1B, UNITED MEXICAN STATES, BAA1/BBB, 5.125%, 1/15/20, +123 bps$750MM, UNITEDHEALTH GROUP 2-PT, BAA1/A-, $400MM, 4.70%, 2/15/21, +110bps; $350MM, 5.95%, 2/15/41, +130 bps$500MM, VIACOM, BAA3/BBB-, 4.50%, 3/1/21, +110 bps$400MM, NY LIFE GLOBAL FUNDING, AAA/AAA, 8/22/12, 3ML+5 bps$300MM, NATL RURAL UTILITIES, A1/A+, 3.05%, 3/1/16, +75 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 Treasuries rose on Friday sending yields down from ten-month highs as protests in Egypt increased the demand for U.S. debt. 30-year bonds ended at 4.70 percent and benchmark 10-year note yield was down five basis points to close at 3.64 percent. 2-year notes were little unchanged at 0.84 percent while 5-year notes rose sending yield down two basis points to 2.36 percent. The Fed bought $7.2 billion of debt maturing from August 2016 to January 2018 as part of its plan Quantitative Easing II to help grow the economy and so far the Fed has bought $320.7 billion of debt outstanding. The University of Michigan consumer sentiment index rose to 75.1 this month from 74.2 last month. Economic Data: Empire Manufacturing, Advance Retail Sales, Business Inventories, NAHB Housing Market Index, ABC Consumer Confidence, MBA Mortgage Applications, Housing Starts, Producer Price Index, Consumer Price Index, 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.