| Sponsored message from J.P. Morgan Asset Management | Three retirement spending surprises | J.P. Morgan’s research into real-life retirement spending patterns suggests it may be a good time to re-examine popular replacement income strategies.Read more > | | Market Mirror | Wednesday, the Dow was up 38.46 points (0.15%) at 26,504.00, the NASDAQ climbed 33.44 points (0.42%) to 7,987.32, and the S&P 500 increased 8.71 points (0.30%) to 2,926.46. The Russell 2000 climbed 5.35 points (0.35%) to 1,555.58, and the Wilshire 5000 closed 100.29 points (0.33%) higher at 30,128.96. The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.982%. The 30-year Treasury bond increased 13/32, bringing its yield down to 2.479%. | | From the Magazine | Pension Risk Transfers Increase | Matt McDaniel, leader of the financial strategies group at consulting firm Mercer in New York, points to the “glacially” slow pace at which the pension industry moves—although not the entire industry. “Within it, the most dynamic part is probably pension risk transfer. It didn’t really exist until six or seven years ago and has gone from nothing to a pace of $30 billion per year, and with that has been an evolution in the players and strategies,” he says. Several trends drive the dynamic growth.Read more > | | Small Talk | ON THIS DATE: In 1782, Congress approved the Great Seal of the United States. In 1863, West Virginia became the 35th state to join the U.S. In 1863, the National Bank of Philadelphia became the first bank to receive a charter from the U.S. Congress. In 1928, Washburn-Crosby Company merged with 26 other mills to become General Mills. In 1955, the AFL and CIO agreed to combine names and a merge into a single group. In 1967, Muhammad Ali was convicted in Houston of violating Selective Service laws by refusing to be drafted. The U.S. Supreme Court later overturned the conviction. In 1977, the Trans-Alaska Pipeline began operation. In 1983, the U.S. Supreme Court ruled that employers must treat male and female workers equally in providing health benefits for their spouses. In 1997, the tobacco industry agreed to a massive settlement in exchange for major relief from mounting lawsuits and legal bills. No SURVEY SAYS this week. | 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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