CREDIT MARKETS
Treasuries:
Treasury prices eased on Thursday, pushing yields up for a fourth straight day, as the Federal Reserve conducted its last bond buyback, bringing an end to its second round of quantitative easing. However, month-end demand for bonds helped some debt to recover lost ground. The Federal Reserve Bank of New York bought $4.91 billion in Treasury debt, shutting down the program that’s the centerpiece of the central bank’s loose monetary policy. Yields on 10-year notes turned up by 5 basis points to 3.16%. This has been one of the roughest weeks for the benchmark with 10 year bonds yields jumping 24 basis points. Two year yields were mostly flat at .46%. Yields on 30-year bonds were also unchanged at 4.38%. The Fed has bought an additional $600 billion in Treasuries, which some analysts say has been in the hopes that investors would use the money to buy assets riskier than Treasuries such as equities, emerging markets, commodities and corporate bonds.
Economic Data: U of Michigan Confidence, ISM Manufacturing and Total Vehicle Sales.

Commentary/New Issues

Corporate:
Nothing

Agency:
$5B, FREDDIE MAC, 1.00%, 8/27/14, +29bps

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.