| | Products, Deals & People | | Legg Mason Launches Long Duration Credit CIT | | Legg Mason, Inc. launched the Hands Benefit
& Trust Long Duration Credit Collective Investment Fund (CIF) which is
sub-advised by Western Asset. The fund is benchmarked to the Barclays Long
Credit index and the company says it will allow eligible retirement plans the
efficiency and flexibility to better align assets with their liabilities.Read more > | | | Economic Events | | In the week ending March 28, the advance
figure for seasonally adjusted initial claims for unemployment insurance was
268,000, a decrease of 20,000 from the previous week’s revised level, the Labor
Department reported. The four-week moving average was 285,500, a decrease of
14,750 from the previous week’s revised average.
The average interest rate for a 30-year fixed-rate
mortgage is 3.70%, up from 3.69% one week ago, according to Freddie Mac. The
average interest rate for a 15-year fixed-rate mortgage is 2.98%, up from
2.97%.
| | | Market Mirror | | Thursday, the
Dow rose 65.06 points (0.37%) to 17,763.24, the NASDAQ was up 6.71 points
(0.14%) at 4,886.94, and the S&P 500 closed 7.17 points (0.35%) higher at
2,066.86. The Russell 2000 increased 3.94 points (0.32%) to 1,255.65, and the
Wilshire 5000 gained 77.56 points (0.35%) to finish at 21,946.62.
On the NYSE,
3.2 billion shares traded, with 1.7 advancing issues for every declining issue.
On the NASDAQ, 2.8 billion shares changed hands, with a 1.5 to 1 ratio of
advancers to decliners.
The price of the 10-year Treasury note decreased
15/32, bringing its yield up to 1.910%. The price of the 30-year Treasury bond
fell 1 9/32, increasing its yield to 2.527%.
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