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April 8th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
Interest on a 30-year fixed-rate mortgage averaged 4.72% for the week ending April 7, up from last week when it averaged 4.67%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.13%. Interest on a 15-year fixed-rate mortgage averaged 3.91%, up from last week when it averaged 3.83%. A year ago at this time, the 15-year FRM averaged 2.42%.
In the week ending April 2, the advance figure for seasonally adjusted initial claims for unemployment insurance was 166,000, a decrease of 5,000 from the previous week’s revised level of 171,000, the Labor Department reported. The four-week moving average was 170,000, a decrease of 8,000 from the previous week’s revised average of 178,000.
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| Market Mirror |
Thursday, the Dow closed 87.06 points (0.25%) higher at 34,583.57, the Nasdaq was up 8.48 points (0.06%) at 13,897.30, and the S&P 500 increased 19.06 points (0.43%) to 4,500.21. The Russell 2000 was down 7.14 points (0.35%) at 2,009.80, and the Wilshire 5000 gained 120.37 points (0.27%) to finish at 45,088.73.
The price of the 10-year Treasury note was down 5/32, increasing its yield to 2.656%. The price of the 30-year Treasury bond decreased 30/32, bringing its yield up to 2.675%.
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Products
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Investment Product and Service Launches
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New York Life Investments announces new brand for its private markets alternatives boutique; State Street Global Advisors launches ESG-focused ETF. 
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ON THIS DATE: In 1789, the House of Representatives held its first meeting. In 1834, in New York City, Cornelius Lawrence became the first mayor to be elected by popular vote in a city election. In 1913, the Seventeenth Amendment was ratified, requiring direct election of senators. In 1946, the League of Nations assembled in Geneva for the last time. In 1974, Hank Aaron of the Atlanta Braves hit his 715th career home run, breaking Babe Ruth’s legendary record of 714 homers. In 1975, Frank Robinson of the Cleveland Indians became first black manager of a major league baseball team. In 1993, the space shuttle Discovery, lifted off from the Kennedy Space Center, with astronaut Ellen Ochoa, soon to become the first Hispanic woman in space, on board. In 2002, Suzan-Lori Parks became the first African American woman to win a Pulitzer Prize for drama for her play “Topdog/Underdog.”
And now it’s time for some FRIDAY FUN!
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A boy has a bumpy ride down the slide.
In Richmond, California, the National Park Service announced the retirement of its oldest active ranger. According to UPI, Betty Reid Soskin has served as a ranger at Rosie the Riveter/WWII Home Front National Historical Park for more than a decade and a half. Soskin turned 100 last September. She took a temporary position working with the NPS at age 84 and became a permanent employee in 2011.
Have a great weekend, everyone!
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