CREDIT MARKETS
Treasuries:
Treasuries were mixed yesterday as long term debt rose and short term notes were little changed. The nuclear problems in Japan exaggerated and worried investors preferred to keep their money in safe U.S. debt. Thirty-year bonds rose sharply sending yields down by seven basis points to 4.46 percent and benchmark 10-year note yield was down four basis points to close at 3.32 percent. Two-year and five-year debt closed little changed at 0.61 and 1.98 percent respectively. The Fed in FOMC meeting said that the U.S. economic recovery is gaining strength and that it will stick with its plan to buy back $600 billion of U.S. debt.
Economic Data: MBA Mortgage Applications, Housing Starts, Building Permits, Producer Price Index, and Current Account Balance.

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 across the curve, on concerns that the high crude oil prices due to tensions inLibya can prove detrimental to economic recovery. Thirty-year bond yield dropped six basis points to 4.60 percent and benchmark 10-year notes saw yields falling eight basis points to 3.47 percent. Two- and five-year debt yields ended the day at 0.69 and 2.14 percent respectively. Government sold $21 billion of 10-year notes at a yield of 3.499 percent with bid-to-cover ratio of 3.32. The Direct bidders bought 6.5 percent of the debt and Indirects took 53 percent of the notes. Fed bought $6.7 billion of the debt due from April 2015 to May 2016 as part of the program Quantitative Easing II. The central bank will sell $13 billion of 30-year bonds today.
Economic Data: Initial Jobless Claims, Continuing Claims, Trade Balance, and Monthly Budget Statement.

Commentary/New Issues

Corporate:
$4B, CISCO SYSTEMS 3-PT, A1/A+, $1.25B, 3/14/14, 3ML+25bps;
$2B, 1.625%, 3/14/14, +50 bps; $750MM, 3.15%, 3/14/17, +105 bps
$3.5B, EIB GLOBAL, AAA/AAA, 2.50%, 5/16/16, +33.4 bps
$1.25B, KFW, AAA/AAA, 3/17/14, 3ML+0 bps
$1.1B, VODAFONE 2-PT, BAA1/A-, $600MM, 2.875%, 3/16/16, +85 bps;
$500MM, 4.375%, 3/16/21, +100 bs

Agency:
Nothing

ABS:
$650MM, CarMax 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 fell yesterday as macro-economic conditions improved with crude oil falling from its highest level in more than two years and as the stock market rose with Dow Jones gaining more than 120 points. Thirty-year bonds dropped sending yields up by four basis points to 4.66 percent and benchmark 10-year note yield also gained four basis points to close at 3.55 percent. Two- and five-year debt gained two basis points each to close the day at 0.72 percent and 2.21 percent respectively. The Fed sold $32 billion in three-year notes at a yield of 1.298 percent with bid to cover ratio of 3.22 and Indirects buying 34.4 percent of the debt. The central bank bought $7.7 billion of the debt due from September 2016 to February 2018 under the program Quantitative Easing II. Government will sell $21 billion of 10-year notes on March 9.
Economic Data: MBA Mortgage Applications, and Wholesale Inventories.

Commentary/New Issues

Corporate:
$3.5B, BP CAPITAL MARKETS PLC 3-PT, A2/A, $500MM, 3/11/14, 3ML+60 bps; $1.6B, 3.20%, 3/11/16, +100bps; $1.4B, 4.472%, 3/11/21, +120 bps$1B, BEST BUY 2-PT, BAA2/BBB-, $350MM, 3.75%, 3/15/16, +162.5 bps; $650MM, 5.50%, 3/15/21, +200 bps$500MM, BUNGE LTD FINANCE, BAA2/BBB-, 4.10%, 3/15/16, +190 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 and the Fed continued its buying of the U.S. debt under the $600 billion buy-back program Quantitative Easing II. The Fed bought $6.6 billion of debt due from September 2013 to February 2015 and so far has purchased $404.2 billion worth of debt. Thirty-year bonds closed at 4.62 percent, yield up two basis points and benchmark 10-year notes also saw yields rising by two basis points to 3.51 percent. Two- and five-year debt also saw yields rising by two basis points each to 0.70 and 2.19 percent respectively. Government will sell $32 billion of three-year notes on March 8 as part of $66 billion of notes and bonds auction this week.
Economic Data: NFIB Small Business Optimism, and IBD/ TIPP Economic Optimism.

Commentary/New Issues

Corporate:
$4B, DIRECTV 3-PT, BAA2/BBB, $1.5B, 3.50%, 3/1/16, +135 bps; $1.5B, 5.00%, 3/1/21, +155 bps; $1B, 6.35%, 3/1/41, +175 bps

Agency:
Nothing

ABS:
$250MM, DSC Floorplan Master Owner Trust

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 on Friday as a government report showed that the U.S. economy added fewer jobs than many expected and as the wage growth numbers came in flat for the last month. Thirty-year bonds ended at 4.60 percent, yield down two basis points and benchmark 10-year note yield was down seven basis points to 3.49 percent. Two- and five-year debt saw good buying with yields falling nine and 12 basis points to 0.68 and 2.17 percent respectively. The unemployment rate declined to 8.9 percent, the lowest in two years, and companies added 192,000 jobs last month. The Fed bought $1.5 billion of U.S. debt as part of the program Quantitative Easing II. The Fed will sell $66 billion in notes and bonds next week.
Economic Data: Consumer Credit, NFIB Small Business Optimism, MBA Mortgage Applications, Wholesale Inventories, Initial Jobless Claims, Continuing Claims, Monthly Budget Statement, and Advance Retail Sales. Composite, and ICSC Chain Store Sales YoY.

Commentary/New Issues

Corporate:
$500MM, RENTENBANK, AAA/AAA, 3/15/16, 3ML+20 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 on a report that the U.S. job market is improving at a faster pace than expected and thus reducing the demand for the U.S. debt. Thirty-year bonds closed at 4.55 percent, yield up six basis points and benchmark 10-year notes’ yield was up five basis points at 3.45 percent. 2-year debt yield rose two basis points to 0.68 percent and five-year notes closed at 2.16 percent. According to ADP, U.S. added 217,000 workers last month versus the median estimate of 180,000. The Fed continued with its program Quantitative Easing II and bought $6.7 billion of Treasuries due from April 2015 through February 2016.
Economic Data: Initial Jobless Claims, Continuing Claims, Nonfarm Productivity, ISM Non-Manf. Composite, and ICSC Chain Store Sales YoY.

Commentary/New Issues

Corporate:
$2B, STATE STREET BANK, 3-PT, A1/A+, $250MM, 3/7/14, 3ML+35bps; $1B, 2.875%, 3/7/16, +80 bps; $750MM, 4.375%, 3/7/21, +95 bps
$900MM, DOMINION RE, 2-PT, BAA2/A-, $400MM, 1.80%, 3/15/14, +68bps; $500MM, 4.45%, 3/15/21, +105 bps$750MM, KOREA DEVELOPMENT BANK, A1/A, 4.00%, 9/9/16, +195 bps
$750MM, REP OF LITHUANIA, BAA1/BBB, 6.125%, 3/9/21, +294 bps
$600MM, CIGNA CORP 2-PT, BAA2/BBB, $300MM, 4.50%, 3/15/21,+112.5bps;
$300MM, 5.875%, 3/15/41, +137.5 bps$300MM, WESTERN UNION, A3/A-, 3/7/13, 3ML+58 bps
$300MM, DEV DIVERSIFIED RLTY, BAA3/BB+, 4.75%, 4/15/18,+205 bps

Agency:
$4B, FANNIE MAE, 2.375%, 4/11/16, +30 bps

ABS:
$798.7MM, World Omni 11-ATreasuries

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 sending yields down across the curve as the unrest in the Middle East increased the demand for the safe U.S. debt and as the crude oil rose to almost $100 a barrel. Thirty-year bond yield was down one basis point to 4.49 percent and the benchmark 10-year notes rose, sending yield down by two basis points to 3.41 percent. Two-year and five-year debt saw their yields falling by two basis points each to 0.66 and 2.12 percent respectively. The Fed bought $1.9 billion of Treasuries due from August 2028 to February 2041 as part of the program Quantitative Easing II to help spur the economy. According to the Institute for Supply Management, manufacturing in the U.S. grew last month as the factory index increased from 60.8 in January to 61.4 in February.
Economic Data: MBA Mortgage Applications, ADP Employment Change, and Fed’s Beige Book.

Commentary/New Issues

Corporate:
$1.5B, CFF, AAA/AAA, 2.25%, 3/7/14, +111.2 bps
$500MM, PRAXAIR, A2/A, 4.05%, 3/15/21,+67 bps
$450MM, HARLEY DAVIDSON, BAA1/BBB, 3.875%, 3/15/16, +175 bps
$400MM, DIGITAL REALTY TRUST, BAA2/BBB, 5.25%, 3/15/21, +185, 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.

3,500,000 Shares

$ Amount: $64,225,000

146,800,000 Shares

$ Amount: $6,349,100,000

Coupon: 7.00%

Maturity: 03/15/60

Shares: 12,000,000

Deal size: 300,000,000