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December 20th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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MARKET MIRROR |
Monday, the Dow decreased 162.92 points (0.49%) to close at 32,757.54, the Nasdaq lost 159.38 points (1.49%) to close at 10,546.032 and the S&P 500 dropped 34.70 points (0.90%) to close at 3,817.66. The Russell 2000 decreased 24.84 points (1.413%) to close at 1,738.58 and the Wilshire 5000 lost 382.77 points (1.00%) to close at 37,834.23.
The price of the 10-year Treasury note rose 3/32, bringing the yield to 3.586%. The price of the 30-year Treasury bond rose 3/32, bringing the yield to 3.9634%.
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UpFront
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Considering PBGC Premium Strategies?
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PLAN SPONSORS of defined benefit plans have an opportunity each fall to change how their Pension Benefit Guaranty Corporation insurance premiums are calculated, factoring in current market dynamics, in order to save money. This year’s rising interest rates and inflation meant some sponsors deemed it sensible to change their calculations. Still, it is not a...
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SURVEYS
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CIO’s Transition Management Survey
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Are you a provider of transition management services and want to make your services known to institutional investors? If so, you are invited to respond to CIO’s Transition Management Survey.
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In 1790, The first successful cotton mill in the United States began operating at Pawtucket, RI. In 1803, The United States Senate ratified a treaty that included the Louisiana Territories from France for $15 million. In 1860, South Carolina became the first state to secede from the American Union. In 1880, New York’s Broadway became known as the “Great White Way” when it was lighted by electricity. In 1946, The film “It’s A Wonderful Life” had a preview showing for charity at New York City’s Globe Theatre, a day before its “official” world premiere. In 1968, Author John Steinbeck died at the age of 66. In 1990, The world’s first website and server go live at CERN. In 1999, The Vermont Supreme Court ruled that homosexual couples were entitled to the same benefits and protections as wedded couples of the opposite sex. In 2001, The U.S. Congress passed a $20 billion package to finance the war against terrorism taking place in Afghanistan.
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