From the Desk

This daily newsletter conveniently delivers financial and economic commentary from around the globe, updated FHLB Des Moines advance rates and Bank announcements right to your inbox.

Recent Economic Commentary

Brandon Casey, Member Strategies - 9/26/2022

U.S. stocks are mixed to begin the week as investors assessed the global economy. The DJIA is lower today, while both the S&P 500 and Nasdaq are higher. The British pound fell to a record low before recovering some after the U.K. announced the biggest tax cuts in 50 years. 

The lone data release today, the Chicago Fed National Activity Index, fell to a 0.0 reading in August. Fifty-five of 85 indicators were worse month-over-month. The three-month average rose to 0.01, up from -0.08.

U.S. Treasury yields are higher this morning, with the 2-year Treasury yield up 0.8 basis points to 4.22%, the 5-year Treasury yield up 5.7 basis points to 4.04%, and the 10-year Treasury yield up 7.8 basis points to 3.77%. Advance rates are higher throughout most of the curve today.

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