The Daily Advisor: August 4, 2021

Three Things to Know Today

1. Community First Capacity-Building Grant Program Open
We are now accepting applications for 2021 Community First® Capacity-Building Grant Program. Now in its fifth year, this program provides flexible grant funds to nonprofit, non-depository lenders that support affordable housing, economic development, and small businesses in Illinois and Wisconsin.

2. FHLBank Chicago Announces Q2 2021 Financial Highlights and Declares Dividend
In an evolving business landscape, we continue to adapt our products and services to meet our members’ needs and support the communities they serve. 

3. Re-Introducing the Putable Floating-to-Fixed Rate Advance (A370)
As we continue to add value to your business and transition away from LIBOR, we announced a revised Putable Floating-to-Fixed Rate advance (A370) linked to the Federal Funds effective rate. Take advantage of extremely low rates during the initial floating rate period.

Market Commentary for Tuesday

Commentary for Tuesday: Treasuries were unchanged as equities gained off the back of positive earnings reports. Yields were up in overnight trading following a rebound in Asian markets. They reversed course in the morning as markets worried over increased virus outbreaks despite positive economic news. Yields rebounded back in afternoon, ending the day mostly unchanged from the prior close.

Durable Goods Orders were reported at a better-than-expected 1.5% vs estimates of 1% in June. May's figures were upwardly revised from 1.7% to 1.5%. Construction goods within the machinery component grew the fastest at 10.9% month-over-month. Primary metals offset the gains, with aluminum falling 2.7%. Factory Orders also beat expectations of 1%, growing 1.5% in June.


The morning market update is provided by: 

solutionsheadshots_hotchkiss_smJames Hotchkiss, Director, Member Strategy and Solutions


The data and valuations provided in this document are for information purposes only and are provided as an accommodation and without charge. The Federal Home Loan Bank of Chicago makes no representations or warranties about the accuracy or suitability of any information in this document. This document is not intended to constitute legal, investment, or financial advice or the rendering of legal, consulting, or other professional services of any kind.

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