The Daily Advisor: April 23, 2024
Three Things To Know Today
1. FHLBank Chicago Announces Q1 2024 Financial Highlights
We're pleased to share our Q1 2024 Financial Highlights. We have committed $110 million in affordable housing and community development initiatives in 2024, using our financial strength to support you and your communities. The Q1 2024 dividend will be declared on May 3.
2. This Thursday at 3 p.m. – Institutional Insights Webinar
Join our FHLBank Chicago Solutions team on April 25 for our next Institutional Insights Webinar! In our April presentation, we will focus on current market trends, rates, and an update on the economy as Q2 gets underway. Register today!
3. What Is This Late Default Reporting Fee, and How Can I Avoid It?
Late default reporting fees are assessed to participating financial institutions (PFIs) and servicers who fail to upload a complete and accurate Exhibit B on time. In our white paper, we review the default reporting requirements and offer common causes of the late default reporting fee and their corresponding remedies.
Market Commentary
Equities rallied while U.S. Treasuries finished little changed from Friday's close. Yields opened higher on Monday after a quiet weekend and overnight session. Yields moved lower after the open and continued to decline through most of the day with no major economic data releases to guide markets. Most tenors ended unchanged from the prior close.
The Chicago Fed National Activity Index rose to 0.15 in March, up from 0.09 in February. The greater-than-expected improvement was supported by positive contributions from production-related indicators and employment-related indicators. Sales, orders, and inventories made a neutral contribution while personal consumption and housing made a negative contribution of -0.01 in March.