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December 10th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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SPONSORED BY: PIMCO
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Building the Retirement Tier
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The time has come for defined contribution plans to add a retirement tier – the investments, guidance and services needed… 
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| Economic Events |
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October sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were $496.6 billion, up 1.8% from the revised September level and up 0.9% from the revised October 2019 level, the Census Bureau reported. The August to September percent change was revised from the preliminary estimate of up 0.1% to up 0.4%.
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| Market Mirror |
Wednesday, the Dow was down 105.07 points (0.35%) at 30,068.81, the NASDAQ fell 243.82 points (1.94%) to 12,338.95, and the S&P 500 decreased 29.43 points (0.79%) to 3,672.82. The Russell 2000 closed 10.90 points (0.58%) higher at 1,902.15, and the Wilshire 5000 lost 390.47 points (1.00%) to finish at 38,473.77.
The price of the 10-year Treasury note was down 2/32, increasing its yield to 0.944%. The price of the 30-year Treasury bond decreased 28/32, bringing its yield up to 1.690%.
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SPONSORED BY: American Century Investments
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The Making of a Glide Path
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Investor reliance on TDFs underscores the importance of having a disciplined approach to glide path construction.
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ON THIS DATE: In 1817, Mississippi was admitted to the Union as the 20th American state. In 1869, women were granted the right to vote in the Wyoming Territory. In 1898, in France, the Treaty of Paris was signed, formally ending the Spanish-American War. In 1901, the first Nobel Prizes were awarded in Stockholm, Sweden, in the fields of physics, chemistry, medicine, literature and peace. In 1906, President Theodore Roosevelt became the first American to be awarded the Nobel Peace Prize, for helping mediate an end to the Russo-Japanese War. In 1920, the Nobel Prize for Peace was awarded to U.S. President Woodrow Wilson for his work in ending the First World War and creating the League of Nations. In 1931, Jane Addams became a co-recipient of the Nobel Peace Prize—the first American woman to do so. In 1948, the United Nations General Assembly adopted its Universal Declaration on Human Rights. In 1950, for his peace mediation during the first Arab-Israeli war, American diplomat Ralph Joseph Bunche received the Nobel Peace Prize in Oslo, Norway. Bunche was the first African American to win the award. In 1958, the first domestic passenger jet flight took place in the U.S. when 111 passengers flew from New York to Miami on a National Airlines Boeing 707. In 1964, in Oslo, Norway, Dr. Martin Luther King Jr. received the Nobel Peace Prize. He was the youngest person to receive the award. In 1984, South African Bishop Desmond Tutu received the Nobel Peace Prize. In 1996, South Africa’s President Nelson Mandela signed into law a new democratic constitution, completing the country’s transition from white-minority rule to a non-racial democracy. In 1998, six astronauts opened the doors to the new international space station 250 miles above the Earth’s surface.
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