CREDIT MARKETS
Treasuries:
Treasuries rose yesterday sending yields down across the curve as a report by a private agency showed that companies added fewer jobs than forecast. 30-year bond yield dropped three basis points to 4.52 percent and benchmark 10-year notes saw yields falling by four basis points to 3.49 percent. 2- and 5- year debt saw yields falling by two basis points each to 0.80 percent and 2.21 percent respectively. The Fed sold $29 billion of 7-year notes at a yield of 2.895 percent with Bid-to-Cover ratio of 2.79. The Indirect bidders bought 49.4 percent of the notes and Direct bidders took 8.8 percent of the debt. According to ADP, companies added 201,000 jobs in March versus the median forecast of 208,000. Economic Data: Initial Jobless Claims, Continuing Claims, NAPM-Milwaukee, and Factory Orders.

Commentary/New Issues

Corporate:
$1.75B, ARCHER DANIELS MIDLAND 2-PT, A2/A, $750MM, 4.479%, 3/1/21, +95 bps; $1B, 5.765%, 3/1/41, +120 bps
$750MM, AVIATION CAPITAL GROUP, BBB-, 6.75%, 4/6/21, +329.6 bps
$450MM, VERISK ANALYTICS, BA1/BBB-, 5.80%, 5/1/21, +237.5 bps
$375MM, ANALOG DEVICES, A3/A-, 3.00%, 4/15/16, +90 bps
$325MM, BRANDYWINE OP PTNRS, BAA3/BBB-, 4.95%, 4/15/18, +230 bps
$292.75MM, DELTA AIR LINES, BAA2, 5.30%, 4/15/19, +310.4 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 sending yields up across the curve as the 5-year note auction could not find many buyers in the market. 30-year bond yield rose five basis points to 4.55 percent and benchmark 10-year notes dropped sending yields up by four basis points to 3.49 percent. 2- and 5- year debt yield rose six basis points and four basis points to 0.82 percent and 2.23 percent respectively. Government sold $35 billion of 5- year notes at a yield of 2.26 percent with a bid-to-cover ratio of 2.79. Indirect bidders took 42.4 percent of the notes. Fed will sell $29 billion of 7-year notes on March 30. Fed bought $1.568 billion of U.S. debt due from July 2017 to February 2041 as part of the program Quantitative Easing II.
Economic Data: MBA Mortgage Applications, and ADP Employment Change.

Commentary/New Issues

Corporate:
$4B, KFW, AAA/AAA, 1.50%, 4/4/14, +23.5 bps
$2.5B, HSBC HOLDINGS, AA2/AA-,5.10%, 4/5/21, +165 bps
$2B, TIME WARNER 2-PT, BAA2/BBB, $1B, 4.75%, 3/29/21, +140 bps; $1B, 6.25%, 3/29/41, +180 bps
$2B, NORDEA EIENDOMSKREDITT 2-PT, AAA/AAA, $1B, 4/7/14, 3ML+42 bps; $1B, 1.875%, 4/7/14, +68.5 bps
$1B, METLIFE INSTITUTIONAL FUNDING II, AA3/AA-, 4/4/14, 3ML+90 bps
$750MM, CITIGROUP, A3/A/A+, 4/1/14, 3ML+93 bps
$700MM, PTTEP CANADA INTL FINANCE, BAA1/BBB+, 5.692%, 4/5/21,+225 bps
$500MM, EKSPORTFINANSE, AA1/AA, 4/5/13, 3ML+20 bps

Agency:
$4B, FHLMC, 4/4/13, 1ML-5 bps

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:
Short-term Treasuries fell on 2-year notes auction while long-term debt was unchanged yesterday. 30-year debt yielded 4.50 percent and benchmark 10-year notes closed at 3.44 percent. 2-year notes dropped sending yields up by two basis points to 0.76 percent and 5-year note yield also increased two basis points to 2.18 percent. Government sold $35 billion of two-year notes at a yield of 0.789 percent and bid-to-cover ratio was 3.16. Indirect bidders purchased 33 percent of the debt and Directs bought 13.3 percent of the notes. The Fed purchased $6.753 billion of the U.S. debt due from March 2015 to August 2016 as part of the program Quantitative Easing II. Government will sell $35 billion of 5-year notes on March 29.
Economic Data: S&P CaseShiller Home Price Ind, S&P/ CS 20 City MoM% SA, and Consumer Confidence.

Commentary/New Issues

Corporate:
$250MM, WELLS OPERATING PARTNERSHIP, BAA3/BBB-, 5.875%, 4/1/18, +313 bps
$300MM, NEW YORK LIFE GLBL FNDG, AAA/AAA, 4/4/14, 3ML+26 bps
$500MM, KEYSPAN GAS EAST CORP, A3/A, 5.819%, 4/1/41, +130 bps
$500MM, SHINHAN BANK, A1/A-, 4.125%, 10/4/16, +205 bps
$1.4B, WESTPAC BANKING, AA1/AA, 3/31/14, 3ML+73 bps
$1.5B, DELL 4-PT, A2/A-, $300MM, 4/1/14, 3ML+60 bps; $400MM, 2.10%, 4/1/14, +85 bps; $400MM, 3.10%, 4/1/16, +95 bps; $400MM, 4.625%, 4/1/21, +125 bps
$2B, HOME DEPOT 2-PT, BAA1/BBB+, $1B, 4.40%, 4/1/21, +97 bps; $1B, 5.95%, 4/1/41, +147 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 investors preferred to move to stock markets from debt markets as companies reported better than expected profits. 30 - year bond yield rose five basis points to 4.48 percent and benchmark 10-year notes dropped sending yields up by seven basis points to 3.41 percent. 2- and 5- year notes closed at 0.69 percent and 2.12 percent, yields up four basis points and eight basis points respectively. The Fed bought $6.987 billion of securities due from October 2013 to November 2014 as part of the program Quantitative Easing II. Government will sell $35 billion of 2-year debt on March 28, $35 billion of 5-year notes on March 29 and $29 billion of 7-year notes on March 30. Economic Data: GDP QoQ (Annualized), GDP Price Index, Personal Consumption, and University of Michigan Confidence.

Commentary/New Issues

Corporate:
$3.75B, REPUBLIC OF HUNGARY 2-PT, BAA3/BBB-, $3B, 6.375%, 3/29/21, +310 bps; $750MM, 7.625%, 3/29/41, +330 bps
$500MM, VIACOM, BAA1/BBB+, 3.50%, 4/1/17, +155 bps
$500MM, GOODMAN FUNDING, BAA3/BBB, 6.375%, 4/15/21, +312.5 bps

Agency:
Nothing

ABS:
$1.5 B,Volkswagen Auto Loan 11-1Treasuries

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 on Tuesday as concerns over Japanese nuclear plants eased and as investors got nervous about conflict in Libya and its threat to global recovery. 30-year bond yield dropped two basis points to 4.43 percent and benchmark 10-year notes were unchanged at 3.32 percent. 2- and 5- year note yields were up two basis points and one basis point to 0.65 percent and 2.03 percent respectively. The Fed bought $7.6 billion of U.S. debt due from September 2016 and February 2018 as part of the $600 billion program Quantitative Easing II. Analysts are forecasting new home sales to increase by 2.1 percent ahead of the data from the Commerce Department on March 23.
Economic Data: New Home Sales, and New Home Sales MoM.

Commentary/New Issues

Corporate:
$7B, SANOFI-AVENTIS 6-PT, A2/AA-, $1B, 3/28/12, 3ML+5 bps; $1B, 3/28/13, 3ML+20 bps; $750MM, 3/28/14, 3ML+31bps; $750MM, 1.65%, 3/28/14, +55 bps; $1.5B, 2.375%, 3/29/16, +70 bps; $2B, 4.00%, 3/29/21, +80 bps
$2.5B, WELLS FARGO, A1/AA-, 4.60%, 4/1/21, +130 bps
$2B, DUPONT 4-PT, A2/A/A, $400MM, 1.75%, 3/25/14, +65 bps; $600MM, 3/25/14, 3ML+42 bps; $500MM, 2.75%, 4/1/16, +75 bps; $500MM, 4.25%, 4/1/21, +95 bps
$1B, BANK OF NOVA SCOTIA, AA1/AA-, 2.90%, 3/29/16, +90 bps
$600MM, NATIONWIDE FINANCIAL, BAA2/BBB-, 5.375%, 3/25/21, +212.5 bps
$500MM, INDUSTRIAL BANK OF KOREA, A1/A, 3.75%, 9/29/16, +183 bps
$350MM, APPALACHIAN POWER, BAA2/BBB, 4.60%, 3/30/21, +130 bps
$300MM, PUGET SOUND ENERGY, A3/A-, 5.638%, 4/15/41, +118 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 Monday as situation in Japanese nuclear plants seemed to improve and as U.S. planned to sell its mortgage- backed securities, which were bought during the financial crisis. 30-year bond yields rose two basis points to 4.45 percent and benchmark 10-year notes dropped sending yields up by five basis points to 3.32 percent. 2- and 5-year debt saw yields rising four basis points and eight basis points to 0.63 percent and 2.02 percent respectively. The Fed continued with its purchases of U.S. debt and bought $2.07 billion of Treasuries due from August 2028 to February 2041 under the program Quantitative Easing II. Government decided to sell nearly $10 billion of its mortgage-backed securities per month out of $142 billion of the portfolio.
Economic Data: House Price Index MoM, and Richmond Fed Manufacturing Index.

Commentary/New Issues

Corporate:
$300MM, TELEPHONE & DATA SYSTEMS, BAA2/BBB-,7.00%, 3/15/60, $25.00
$1B, KEYCORP, BAA1/BBB+, 5.10%, 3/24/21, +180 bps
$1B, SUNTRUST BANKS, BAA1/BBB, 3.60%, 4/15/16,+160 bps
$1.25B, QUEST DIAGNOSTICS 4-PT, BAA2/BBB+, $200MM, 3/24/14, 3ML+85 bps; $300MM, 3.20%, 4/1/16, +120 bps; $550MM, 4.70%, 4/1/21, +140 bps; $200MM, 5.75%, 1/30/40, +150 bps
$1.9B, DAIMLER FINANCE, 3-PT, A3/BBB+, $750MM, 3/28/14, 3ML+61 bps; $450MM, 1.95%, 3/28/14, +85 bps; $700MM, 3.00%, 3/28/16, +100 bps

Agency:
Nothing

ABS:
$526MM, SCART 2011-S1

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 as situation in Libya seemed to be improving after it said to cease all military action and as the Group of Seven nations intervened and sold the yen to stabilize the currency markets as the yen rose to a record high after the Japanese disaster. Thirty-year bond yield rose one basis point to 4.43 percent and benchmark 10-year note saw yield rising three basis points to 3.27 percent. Two- and five-year debt closed at 0.60 and 1.94 percent respectively. The Fed bought $1.568 billion of U.S. debt due from July 2020 to February 2041 as part of the $600 billion program Quantitative Easing II to lower the borrowing costs and help grow the economy.
Economic Data: Chicago Fed Nat Activity Index, Existing Home Sales, Richmond Fed Manufacturing Index, MBA Mortgage Applications, Initial Jobless Claims, Continuing Claims, GDP QoQ, and 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 fell yesterday sending yields up across the curve as a report showed that the initial jobless claims fell to 385,000 from 401,000 for the week ended March 5. 30- year bonds saw yield rising four basis points to 4.42 percent and benchmark 10-year notes yielded 3.24 percent, up by four basis points. 2- and 5-year debt yielded 0.59 percent and 1.90 percent, yields up four and five basis points respectively. The Fed purchased $6.989 billion of U.S. debt due from February 2014 to February 2015 as part of the $600 billion program Quantitative Easing II to keep interest rates low. According to the Labor Department, the consumer prices rose 0.5 percent last month versus the median forecast of .4 percent. Economic Data: Nothing

Commentary/New Issues

Corporate:
$500MM, AGL CAPITAL CORP, BAA1/BBB+, 5.875%, 3/15/41, +150 bps
$750MM, TEVA PHARMACEUTICAL 2-PT, A3/A-, $250MM, 1.70%, 3/21/14, +73 bps; $500MM, 3/21/14, 3ML+50 bps
$1B, CLIFFS NATURAL RES 2-PT, BAA3/BBB-, $700MM, 4.875%, 4/1/21, +170 bps; $300MM, 6.25%, 10/1/40, +190 bps
$1.5B, REPUBLIC OF CROATIA, BAA3/BBB, 6.375%, 3/24/21, +340 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 as Japan’s nuclear crisis further deepened, making investors move to safe U.S. debt. 30 year bond yield fell nine basis points to 4.38 percent and benchmark 10-year notes saw yields falling by 12 basis points to 3.2 percent. 2- and 5- year debt closed at 0.546 percent and 1.850 percent, yields down six basis points and 13 basis points respectively. The Fed bought $6.58 billion of U.S. debt due from March 2015 to June 2016 as part of the program Quantitative Easing II to help grow the economy. According to a report by Commerce Department, housing starts in the U.S. declined more than forecast last month, dropping 22.5 percent to 479,000.
Economic Data: Consumer Price Index, Initial Jobless Claims, Continuing Claims, and Industrial Production.

Commentary/New Issues

Corporate:
$500MM, AGL CAPITAL CORP, BAA1/BBB+, 5.875%, 3/15/41, +150 bps
$750MM, TEVA PHARMACEUTICAL 2-PT, A3/A-, $250MM, 1.70%, 3/21/14, +73 bps; $500MM, 3/21/14, 3ML+50 bps
$1B, CLIFFS NATURAL RES 2-PT, BAA3/BBB-, $700MM, 4.875%, 4/1/21, +170 bps; $300MM, 6.25%, 10/1/40, +190 bps
$1.5B, REPUBLIC OF CROATIA, BAA3/BBB, 6.375%, 3/24/21, +340 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 as the biggest ever earthquake in Japan’s history made investors move to safe U.S. debt. Thirty-year bond yield was down one basis point to 4.54 percent and benchmark 10-year debt closed at 3.36 percent, yield down four basis points. two-year and five-year notes advanced sending yields down by three basis points and six basis points to 0.60 percent and 1.99 percent respectively. Government bought $7.56 billion of U.S. debt maturing from May 2018 to February 2021 as part of the $600 billion Quantitative Easing Program II. The difference between two- and 30-debt yield rose to 394 basis points on speculation that the Japanese earthquake will make insurance companies sell longer maturity debt as compared to shorter maturity debt to cover claims.
Economic Data: Empire Manufacturing, Import Price Index, NAHB Housing Market Index, and FOMC Rate Decision.

Commentary/New Issues

Corporate:
$1.5B, ROYAL BANK OF SCOTLAND, AA3/A+, 4.375%, 3/16/16, +243 bps
$1.5B, BANK OF AMERICA, A2/A, 3.625%, 3/17/16, +172 bps
$800MM, WILLIS GRP HOLDINGS 2-PT, BAA3/BBB-, $300MM, 4.125%, 3/15/16, +225 bps; $500MM, 5.75%, 3/15/21, +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.