CREDIT MARKETS

Treasuries:
Treasury prices dropped on Friday, pushing long-term yields up by the most since June, after Federal Reserve Chairman Ben Bernanke said the central bank has set no triggers for further monetary-policy easing and he sees continued economic growth. Yields on 10-year notes rose 17 basis points to 2.65%, the biggest increase since June. Yields on 2-year notes rose 4 basis points to 0.56%. 30-year bonds yields increased 17 basis points to 3.69%, also the biggest rise since June.
Economic Data: Personal Income, Personal Spending, S&P/CaseShiller Home Price Ind, Consumer Confidence, MBA Mortgage Applications, Initial Jobless Claims, Continuing Claims, Pending Home Sales.

Commentary/New Issues

Corporate:
$1B EBRD 1.625%, 9/3/15, AAA/AAA, +21.2 bp

Agency:
$5B FANNIE MAE 0.625%, 9/24/12, +18 bp

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 edged up yesterday on the back of solid results for a sale of 7-year notes, though gains were limited by a surprisingly better report on jobless claims. As prices rose, yields on benchmark 10-year notes fell 5 basis points to 2.48%. Yields on 30-year bonds also fell 5 basis points to 3.52%. Yields on two-year notes increased 1 basis points to close at 0.52%. The Treasury Department said it sold $29 billion in 7-year notes at a yield of 1.989%, to stronger demand than at recent auctions.
Economic Data: GDP QoQ (Annualized), Personal Consumption, GDP Price Index, University of Michigan Confidence.

Commentary/New Issues

Corporate:
$400M FPL GROUP 2.60%, 9/1/15, BAA1/BBB+, +125 bp
$300M RYDER SYSTEMS 3.60%, 3/1/16, BAA1/BBB+, +225 bp
$500M GEORGIA POWER 4.75%, 9/1/40, A3/A, +125 bp

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 remained firm yesterday following robust demand for U.S. government debt during a government auction to sell 2-year notes. The
Treasury Department sold $37 billion in 2-year notes at a record low yield of 0.498%. Yields on two-year notes, which tend to move along with
expectations for interest rates, fell 1 basis point to end at 0.47% after earlier falling to 0.45%, near a record low. The price of benchmark 10-year
Treasury notes rose, sending their yields 10 basis points lower to 2.49%. Yields on 30-year slumped 10 basis points to 3.56%.
Economic Data: MBA Mortgage Applications, New Home Sales, House Price Purchase Index QoQ, House Price Index MoM.

Commentary/New Issues

Corporate:
$750M AETNA 3.95%, 9/1/20, BAA1/A-, +160 bp
$350M YUM BRANDS 3.875%, 11/1/20, BAA3/BBB-, +140 bp

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 yesterday, pushing yields down, after the government met with good demand for its sale of 30-year inflation-indexed securities
in the first major auction of the week. Yields on 10-year notes fell 2 basis point to 2.59%. Yields on 2-year notes declined 2 basis point to 0.48%,
near the lowest level on record. Yields on 30-year bonds were unchanged at 3.66%, after being higher for most of the session. The Treasury
Department sold $7 billion in Treasury inflation-indexed securities at a yield of 1.768%.
Economic Data: Existing Home Sales, ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$500M SAN DIEGO G&E 4.50%, 8/15/40, AA3/A+, +88 bp
$250M NORFOLK & SOUTHERN 6.00%, 3/15/2105, BAA1/BBB+, +229.3 bp

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 yields fell in the week ending Friday, with short-term yields hitting a record low, after Thursday’s surprisingly weak data that called into question the ability of the U.S. — and therefore the world — to sustain a recovery. Yields on 2-year notes were at 0.5%, up 1 basis point week to week. Yields on 10-year notes turned higher by 4 basis points to 2.61%. Thirty-year bond yields rose 1 basis point to 3.66%.
Economic Data: Existing Home Sales, MBA Mortgage Applications, New Home Sales, Initial Jobless Claims, Continuing Claims, GDP Price Index, University of Michigan Confidence.

Commentary/New Issues

Corporate:
Nothing

Agency:
Nothing

ABS:
$280 MM, SVO 2010-A VOI

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 yesterday, pushing yields back toward multi-month lows, as many bond investors question the economic recovery and say bond
yields can stay down or move lower still. Yields on 10-year notes were flat at 2.644%. Yields on 2-year notes were nearly flat at 0.496% after
touching an intraday low of 0.48%. And yields on 30-year bonds declined 2 basis points to 3.739%. The Mortgage Bankers Association said its
refinance index increased 17.1% from the previous week, the highest level observed for the index since May 15, 2009.
Economic Data: Initial Jobless Claims, Continuing Claims.

Commentary/New Issues

Corporate:
$250M CHOICE HOTELS INTL BAA3/BBB, 5.70%, 8/28/20, +310 BP
$2B IBRD AAA/AAA, 1.125%, 8/24/14, +48.9 BP

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 declined yesterday, pushing long-term yields up from the lowest since at least April 2009 and reversing part of the prior session’s
gains, as stocks rallied and investors felt less need for the relative safety of U.S. debt. The fall in prices came alongside the Federal Reserve’s first
formal purchase of U.S. Treasury debt since last year, in which the central bank bought $2.551 billion in bonds. Yields on 2 -Year notes rose 1 basis
points to 0.5%. Yields on 10-year notes rose 6 basis points to 2.64%. Thirty-year bond yields rose 4 basis points to 3.76%, after having touched the
lowest level since April 2009 on Monday.
Economic Data: MBA Mortgage Applications

Commentary/New Issues

Corporate:
$750M ING Bank AA3/A+ 3.00%, 9/01/15, + 162.5bp
$1.5B BANK OF AMERICA A2/A/A 3.70%, 9/1/15, +230bp
$1.25B HSBC BANK USA A1/AA- 4.875%, 8/24/20, +225bp
$1.5B APACHE CORP A3/A- 5.10%, 9/1/40, +140bp

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 advanced yesterday, pushing 10-year yields to the lowest since March 2009, after reports on manufacturing in the New York region,
U.S. home-builder confidence and Japan’s growth fueled worries over the global economy and had investors buying assets perceived as safer. Yields
on 10-year notes fell 11 basis points to 2.69% after touching the lowest since March 2009. Yields on 2-year notes declined 4 basis points to 0.49%.
Yields on 30-year bonds dropped 16 basis points to 3.72%, the biggest decline since June 4. The National Association of Home Builders confidence
index unexpectedly declined to 13 in August. New York Federal Reserve Bank’s Empire State Manufacturing index rose to 7.1 in August from 5.1 in
July, a smaller improvement than many analysts expected.
Economic Data: Producer Price Index, Housing Starts, Building Permits, Industrial Production, ABC Consumer Confidence.

Commentary/New Issues

Corporate:
$300M INGRAM MICRO 5.25%, 9/1/17, BAA3/BBB-, +326.7BP

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 Friday, pushing yields back toward significant lows, after a trio of reports on U.S. retail sales, inflation and consumer confidence
added to evidence that economic growth is slowing. Long-term Treasury yields have fallen since last Friday, while 2-year yields touched an all-time
low during the week, as data and comments from the Federal Reserve about the economy fueled a renewed interest in the relative safety of U.S.
government debt. Yields on 10-year notes fell 5 basis points to 2.69%, near the lowest point since April 2009. That’s down from 2.82% a week ago,
the biggest drop since the beginning of July and the third weekly decline. Two-year yields declined 1 basis points to 0.53%, after having touched a
record low set earlier this week. Yields on 2-year notes are up slightly from 0.51% last week, after falling for the past four weeks. Yields on 30-year
bonds fell 6 basis points to 3.88%. Thirty-year yields were at 3.92% a week ago. The Commerce Department said retail sales increased 0.4% in July,
a little less than economists expected.
Economic Data: Empire Manufacturing, Producer Price Index, Housing Starts, Building Permits, ABC
Consumer Confidence, MBA Mortgage Applications, Initial Jobless Claims, 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.

CREDIT MARKETS

Treasuries:
Treasury prices declined yesterday, pushing yields up from recent lows, as U.S. stocks stabilized following early losses, limiting demand for the 
relative safety of U.S. debt. Still, money managers and international investors were drawn to the government’s sale of 30‐year bonds, despite yields
coming at the lowest since March 2009. Two‐year yields rose 2 basis points to 0.54%, after having touched an all‐time low on Wednesday. Yields on
10‐year notes increased 5 basis points to 2.74%. On Wednesday, yields on the benchmark security fell to the lowest since April last year as 
investors around the world interpreted the Federal Reserve’s plan to recycle holdings into Treasurys as they mature as a sign of much deeper 
economic problems. Yields on the current 30‐year bond rose 2 basis points to 3.94%. Traders said that investors remain interested in fixed‐income 
assets but that the market is due for a correction after the recent rally. 
Economic Data: Consumer Price Index, Advance Retail Sales, Business Inventories.

Commentary/New Issues

Corporate:
$1.1B JOHNSON & JOHNSON 2PT AAA/AAA $550M 2.95% 9/1/20 +43bp; $550M 4.50% 9/1/40 +68bp
$300M DETROIT ED A2/A- 3.45% 10/01/20 +80bp
$1B ASIAN DEVELOPMENT BANK AAA/AAA 2.25% 8/18/17 +22.8bp

Agency:
Nothing

ABS:
$1.09B ALLYA 10-3

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.