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PLANSPONSOR NEWSDASH LOGO July 10th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
DB Focus
Same but Different
Same but Different
Lessons on past market breaks, from seasoned bond investors.
Participants
401(k) Investors Continue to Move Into Fixed Income
There was also a slight uptick in trading during June.
Most Read
Benefits
Phased Retirement Programs Offer Perks for Employees and Employers

2020 Recordkeeping Survey
Compliance
VALIC Financial Advisors Charged With Disclosure Failures
Economic Events
May 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 $419.1 billion, up 5.4% from the revised April level, but down 16.2% from the revised May 2019 level, the Census Bureau reported.

Interest for a 30-year fixed-rate mortgage averaged 3.03% for the week ending July 9, down from 3.07%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.75%. Interest for a 15-year fixed-rate mortgage averaged 2.51%, down from last week when it averaged 2.56%. A year ago at this time, the 15-year FRM averaged 3.22%.

In the week ending July 4, the advance figure for seasonally adjusted initial claims for unemployment insurance was 1,314,000, a decrease of 99,000 from the previous week’s revised level of 1,413,000, the Labor Department reported. The four-week moving average was 1,437,250, a decrease of 63,000 from the previous week’s revised average of 1,500,250.
Market Mirror
Thursday, the Dow fell 361.19 points (1.39%) to 25,706.09, the NASDAQ gained 55.25 points (0.53%) to finish at 10,547.75, and the S&P 500 was down 17.89 points (0.56%) at 3,152.05. The Russell 2000 decreased 28.48 points (2.00%) to 1,398.92, and the Wilshire 5000 closed 190.12 points (0.59%) lower at 32,170.28.

The price of the 10-year Treasury note increased 28/32, bringing its yield down to 0.603%. The price of the 30-year Treasury bond climbed 2 2/32, points, decreasing its yield to 1.316%.
Data and Research
Do Employees Understand the Value of Their Equity Compensation?
With many employees using equity compensation for long-term savings goals and wealth accumulation, providing education and advice is important.
Products
Investment Product and Service Launches
ISS ESG expands Solactive index series; Vanguard reveals ESG U.S. corporate bond ETF; and more.
Small Talk
ON THIS DATE: In 1850, Vice President Millard Fillmore was sworn in as the 13th president of the United States. In 1890, Wyoming became the 44th state to join the United States. In 1913, the highest temperature ever recorded in the U.S. was 134 degrees in Death Valley, California. In 1919, the Treaty of Versailles was hand delivered to the Senate by President Woodrow Wilson. In 1925, in Dayton, Tennessee, the so-called Scopes Monkey Trial began with John Thomas Scopes, a young high school science teacher, accused of teaching evolution in violation of a Tennessee state law. In 1943, the Allies began their invasion of Axis-controlled Europe with landings on the island of Sicily, off mainland Italy. In 1962, the Telstar Communications satellite was launched. The satellite relayed TV and telephone signals between Europe and the U.S. In 1969, the National League was divided up into two baseball divisions. In 1991, President George H.W. Bush lifted economic sanctions against South Africa, citing its “profound transformation” toward racial equality.
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