|
December 23rd, 2022
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
Interest on a 30-year fixed-rate mortgage averaged 6.27% for the week ending December 22, down from last week when it averaged 6.31%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.05%. Interest on a 15-year fixed-rate mortgage averaged 5.69%, up from last week when it averaged 5.54%. A year ago at this time, the 15-year FRM averaged 2.30%.
In the week ending December 17, the advance figure for seasonally adjusted initial claims for unemployment insurance was 216,000, an increase of 2,000 from the previous week’s revised level, the Labor Department reported. The previous week’s level was revised up by 3,000 from 211,000 to 214,000. The four-week moving average was 221,750, a decrease of 6,250 from the previous week’s revised average and the previous week’s average was revised up by 750 from 227,250 to 228,000.
|
|
|
|
| MARKET MIRROR |
Thursday, the Dow decreased 348.99 points (1.05%) to close at 33,027.49, the Nasdaq decreased 233.25 points (2.18%) to close at 10,476.12 and the S&P 500 lost 56.05 points (1.45%) to close at 3,822.39. The Russell 2000 lost 22.85 points (1.29%) to close at 1,754.09 and the Wilshire 5000 lost 563.17 points (1.46%) to close at 37,899.75.
The price of the 10-year Treasury note fell 1/32, bringing the yield to 3.682%. The price of the 30-year Treasury bond decreased 4/32, bringing the yield to 3.743%.
|
|
|
|
|
|
|
|
AWARDS
|
|
Think Your Retirement Plan Adviser Should Be Recognized?
|
We need your help in identifying the best retirement plan advisers in the country. If you work with a great plan adviser or plan adviser team, nominate them to be recognized in the 2023 PLANADVISER Retirement Plan Adviser of the Year awards program. Nominations for the Plan Sponsor Service and Plan Adviser Service categories can only come from plan sponsor clients, so it is up to you to make their excellence known. 
|
|
|
SURVEYS
|
|
CIO’s Transition Management Survey
|
|
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.
|
|
|
|
ON THIS DATE: In 1783, George Washington resigned as commander in chief of the Continental Army to return home to Mount Vernon, following the disbandment of the army after the Revolutionary War. In 1788, Maryland voted to cede a 100-square-mile area for the seat of the national government. About two thirds of the area became the District of Columbia. In 1805, Joseph Smith, who provided the theological foundation of the Church of Jesus Christ of Latter-day Saints and other Mormon denominations, was born. In 1867, Sarah “Madam C. J.” Walker, an entrepreneur, philanthropist and the first woman and first African American woman self-made millionaire, was born. She is credited for having revolutionized the hair care and cosmetics industry. In 1888, Dutch painter Vincent Van Gogh cut off the lower part of his left ear with a razor while staying in Arles, France. In 1913, with the signing of the Federal Reserve Act by President Woodrow Wilson, the Federal Reserve System was created. In 1982, residents of Times Beach, Missouri were informed that their town was contaminated when the chemical dioxin was sprayed on its unpaved roads, and the town had to be evacuated and demolished.
EDITOR’S NOTE:
In observance of Christmas Day, ISS offices are closed Monday, December 26 and there will be no PLANSPONSOR NewsDASH newsletter for that day. A special holiday edition of the PLANSPONSOR NewsDASH will resume Tuesday, December 27.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2024 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
