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| Interest Rates Affect Timing for PRT Annuity Purchases | |
| Mark Unhoch, with October Three, explains why annuity costs for pension risk transfers (PRTs) are greater when interest rates are lower.Read more > | |
| Economic Events | |
| Existing-home sales weakened in June, as total sales saw a small decline after a previous month of gains, according to the National Association of Realtors. While two of the four major U.S. regions recorded minor sales jumps, the other two—the South and the West—experienced greater declines last month. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June. Sales as a whole are down 2.2% from a year ago (5.39 million in June 2018). | |
| Market Mirror | |
Tuesday, the Dow gained 177.29 points (0.65%) to finish at 27,349.19, the NASDAQ closed 47.27 points (0.58%) higher at 8,251.40, and the S&P 500 climbed 20.44 points (0.68%) to 3,005.47. The Russell 2000 was up 10.18 points (0.66%) at 1,554.96, and the Wilshire 5000 gained 200.90 points (0.65%) to close at 30,888.60. The price of the 10-year Treasury note decreased 3/32, bringing its yield up to 2.077%. The price of the 30-year Treasury bond was down 31/32, increasing its yield to 2.618%. | |
| Compliance | |
| Lawsuit Says Money Market Fund Was Like ‘Stuffing Cash Into a Mattress’ | |
| BBVA Compass Bancshares is accused of failing to monitor investments and remove imprudent ones.Read more > | |
| Ask the Experts | |
| Including Rollover Balances for Auto Cashouts | |
| “Our plan automatically cashes out small balances under $5,000, with rollovers to an IRA for balances between $1,000 and $5,000. We recently had a participant terminate employment with a $3,000 account balance, but an additional $15,000 in rollover assets. Should we automatically cash out her account balance, or not?”Read more > | |
| Small Talk | |
ON THIS DATE: In 1866, Tennessee became the first state to be readmitted to the Union after the U.S. Civil War. In 1948, Soviet occupation forces in Germany blockaded West Berlin. In 1956, Dean Martin and Jerry Lewis ended their partnership a decade after it began on July 25, 1946. In 1969, the Apollo 11 astronauts splashed down safely in the Pacific Ocean. In 1987, Hulda Crooks, at age 91, climbed Mt. Fuji—the oldest person to climb Japan’s highest peak.
WEDNESDAY WISDOM: “Remember upon the conduct of each depends the fate of all.”—Alexander the Great | |
| Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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