|
June 21st, 2024
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
Data and Research
|
|
Annuities Embedded in TDFs: The Way Forward?
|
 |
Vanguard research suggests that hybrid annuity target-date funds can potentially benefit for less engaged participants, but effectively implementing the solution will likely pose challenges. 
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
In the week ending June 15, the advance figure for seasonally adjusted initial claims was 238,000, a decrease of 5,000 from the previous week’s revised level of 243,000, the Department of Labor reported. The four-week moving average was 232,750, an increase of 5,500 from the previous week’s revised average of 227,250.
Privately‐owned housing starts in May were at a seasonally adjusted annual rate of 1,277,000, the Census Bureau reported. This is 5.5% below the revised April estimate of 1,352,000 and is 19.3% below the May 2023 rate of 1,583,000. Single‐family housing starts in May were at a rate of 982,000; this is 5.2% below the revised April figure of 1,036,000. The May rate for units in buildings with five units or more was 278,000.
Interest on a 30-year fixed-rate mortgage averaged 6.87% for the week ending June 20, down from last week when it averaged 6.95%, Freddie Mac reported. A year ago at this time, the 30-year FRM averaged 6.67%. Interest on a 15-year fixed-rate mortgage averaged 6.13%, down from last week when it averaged 6.17%. A year ago at this time, the 15-year FRM averaged 6.03%.
|
|
|
|
| MARKET MIRROR |
Thursday, the Dow rose 299.90 points (0.77%) to close at 39,134.76, the Nasdaq fell 140.65 points (0.79%) to close at 17,721.59 and the S&P 500 fell 13.86 points (0.25%) to close at 5,473.17. The Russell 2000 fell 7.84 points (0.39%) to close at 2,017.39, and the FT Wilshire 5000 Index fell 144.13 points (0.26%) to close at 54,493.88.
The 10-year Treasury note decreased 25/32, bringing the yield to 4.266%. The 30-year Treasury bond decreased 29/32, bringing the yield to 4.398%.
|
|
|
|
|
|
|
|
PRODUCTS
|
|
Product & Service Launches
|
|
State Street Global Advisors launches IncomeWise solution; BlackRock expands active ETF platform with 2 ETFs; Vanguard reopens actively managed funds to all investors; and more.
|
|
|
|
|
ON THIS DATE: In 1893, the first Ferris wheel (invented by George Washington Gale Ferris, Jr., a Pittsburgh-based engineer) made its debut, at the World’s Columbian Exposition in Chicago. In 1905, Jean-Paul Sartre, a French novelist, playwright and exponent of existentialism who was awarded but declined the Nobel Prize for Literature in 1964, was born. In 1945, Japanese resistance on Okinawa was finally crushed, less than three months after U.S. troops landed there as the last stepping-stone before the planned assault on Japan’s main islands in World War II. In 1963, Paul VI was elected pope of the Roman Catholic Church. In 1982, Prince William of Wales (later Prince William, duke of Cambridge) was born to Charles, prince of Wales and heir to the British throne, and Diana, princess of Wales. The same year, John Hinckley, Jr., was ruled to be innocent by reason of insanity in the shooting of President Ronald Reagan. In 1997, the Women’s National Basketball Association debuted with the league’s first game, in which the New York Liberty defeated the Los Angeles Sparks. In 2009, Greenland became self-governing as an expanded home-rule agreement with Denmark took effect.
|
|
|
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
Copyright ©2025 Asset International, Inc. All rights reserved.
No reproduction without prior authorization.
|
|
702 King Farm Boulevard, Suite 300, Rockville, MD 20850
|
|
|
