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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, Member Strategies - 3/24/2025

U.S. stocks are higher to begin the week as the market looks to build off last week. Stocks rallied on Friday, propelling all three major averages to finish the week higher, ending a four-week losing streak. Investor sentiment improved Friday when it was reported that the U.S. would potentially narrow the scope of the previously announced tariffs for April 2.

Looking at economic data today, the S&P U.S. Manufacturing PMI fell to a reading of 49.8 in the preliminary March reading, missing expectations of 51.5 and falling into contraction territory. The Services PMI rose to a reading of 54.3, above expectations of 51.5. The Composite PMI increased toa reading of 53.5.

U.S. Treasury yields are higher this morning, with the 2-year Treasury up 7.2 basis points to 4.02%, the 5-year Treasury yield up 7.8 basis points to 4.09%, and the 10-year Treasury yield up 7.1 basis points to 4.32%. Advance rates are higher throughout most of the curve today.

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