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December 9th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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| ECONOMIC EVENTS |
Interest on a 30-year fixed-rate mortgage averaged 6.33% for the week ending December 8, down from last week when it averaged 6.49%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.10%. Interest on a 15-year fixed-rate mortgage averaged 5.67%, down from last week when it averaged 5.76%. A year ago at this time, the 15-year FRM averaged 2.38%.
In the week ending December 3, the advance figure for seasonally adjusted initial claims for unemployment insurance was 230,000, an increase of 4,000 from the previous week’s revised level, the Labor Department reported. The previous week’s level was revised up by 1,000 from 225,000 to 226,000. The four-week moving average was 230,000, an increase of 1,000 from the previous week’s revised average. The previous week’s average was revised up by 250 from 228,750 to 229,000.
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| MARKET MIRROR |
Thursday, the Dow increased 183.56 points (0.55%) to close at 33,781.48, the Nasdaq increased 123.45 points (1.13%) to close at 11,082.00 and the S&P 500 increased 29.59 points (0.75%) to end trading at 3,963.51. The Russell 2000 gained 11.39 points (0.63%) to close at 1,818.29 and the Wilshire 5000 gained 292.76 points (0.75%) to close at 39,313.43.
The price of the 10-year Treasury note decreased 5/32, bringing the yield up to 3.483%. The price of the 30-year Treasury bond increased 1/32, bringing the yield down to 3.434%.
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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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EVENTS
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Plan Progress Webinar: Student Loan Debt Benefits
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Join PLANSPONSOR and a panel of experts on December 15 to learn what options are available for student loan debt benefits, their structure and cost; how student loan repayment help fits into an employer’s overall financial wellness benefits; what communications employees need about student loan debt and saving for retirement, and more.
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ON THIS DATE: In 1793, The American Minerva was published for the first time: It was the first daily newspaper in New York City and was founded by Noah Webster. In 1803, the 12th Amendment to the Constitution was passed by Congress. With the amendment, electors were directed to vote for a president and for a vice president, rather than for two choices for president. In 1961, Tanganyika became independent, and in 1964 the territory united with the island of Zanzibar to form Tanzania. In 1990, in Poland, Lech Walesa, founder of the Solidarity trade union, won a landslide election victory to become the first directly elected Polish leader. In 1992, British Prime Minister John Major announced the formal separation of King Charles, then Prince of Wales, and his wife, Princess Diana. In 1998, the United Nations General Assembly declared anti-Semitism a form of racism. In 2002, United Airlines filed for Chapter 11 bankruptcy. In 2013, AMR Corporation and US Airways Group completed a merger and were listed on NASDAQ under the ticker AAL, as American Airlines Group, Inc.
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