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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, VP, Member Strategies - 10/27/2021

U.S. stocks inched higher Wednesday morning as investors continue to monitor corporate earnings. Both the S&P 500 and DJIA closed at record highs yesterday as earnings remain strong. Thus far, 30% of S&P companies have reported earnings and over 80% have exceeded earnings and/or revenue estimates.

Looking at economic data today, durable goods orders fell 0.4% in the preliminary September report. The decline was less than expected, though it was the first drop in orders since April. Core capital goods orders, which closely resemble business investment for GDP, rose 0.8% for the month, the seventh straight increase.

Elsewhere, MBA mortgage applications edged 0.3% higher last week. Purchase activity increased 4%, while refinance activity fell 2%. The report showed that the average interest rate of a conforming 30-year mortgage increased seven basis points to 3.30%, the highest level in eight months.

U.S. Treasury yields are flatter this morning, with the 2-year Treasury yield up 2.5 basis points to 0.51%, the 5-year Treasury yield up 0.5 basis points to 1.19% and the 10-year Treasury yield down 4.3 basis points to 1.58%. Advance rates are mostly unchanged today.

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Educational Resources

Q2 2021 Economic Update Article Q2 2021 Economic Update Each quarter our Member Strategies Team takes an in-depth look at the economic issues facing the nation while providing a unique commentary on the effects they may have on our members. Q1 2021 Economic Update Article Q1 2021 Economic Update Each quarter our Member Strategies Team takes an in-depth look at the economic issues facing the nation while providing a unique commentary on the effects they may have on our members. Opening the Door to Early Withdrawal Video/Webinar Opening the Door to Early Withdrawal This hour-long webinar hosted by The CorePoint Founder and CEO, Neil Stanley, illustrates how some financial institutions have found a unique strategy to improve their net interest margin by providing their depositors with a reward option for early redemption of their time deposits. Q4 2020 Economic Update Article Q4 2020 Economic Update Each quarter our Member Strategies Team takes an in-depth look at the economic issues facing the nation while providing a unique commentary on the effects they may have on our members.

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