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June 26th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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PLANSPONSOR Plan Progress Webinar
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The Road Ahead for Plan Sponsors
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To get their plans and participants moving forward again, sponsors can perform several steps that examine multiple areas of plan management. Join PLANSPONSOR, industry experts and a plan sponsor to review what plan sponsors should evaluate once their operations start ramping up again. 
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| Economic Events |
Interest on a 30-year fixed-rate mortgage averaged 3.13% for the week ending June 25, unchanged from last week, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.73%. Interest on a 15-year fixed-rate mortgage averaged 2.59%, up slightly from last week when it averaged 2.58%. A year ago at this time, the 15-year FRM averaged 3.16%.
New orders for manufactured durable goods in May increased $26.6 billion or 15.8% to $194.4 billion, the U.S. Census Bureau announced. This increase, up following two consecutive monthly decreases, followed an 18.1% April decrease. Excluding transportation, new orders increased 4.0%. Excluding defense, new orders increased 15.5%. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $20.9 billion or 80.7% to $46.9 billion.
In the week ending June 20, the advance figure for seasonally adjusted initial claims for unemployment insurance was 1,480,000, a decrease of 60,000 from the previous week’s revised level of 1,540,000, the Labor Department reported. The four-week moving average was 1,620,750, a decrease of 160,750 from the previous week’s revised average of 1,781,500.
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| Market Mirror |
Thursday, the Dow gained 299.66 points (1.18%) to finish at 25,745.60, the NASDAQ closed 107.84 points (1.09%) higher at 10,017.00, and the S&P 500 increased 33.43 points (1.10%) to 3,083.76. The Russell 2000 was up 23.57 points (1.70%) at 1,413.31, and the Wilshire 5000 climbed 348.62 points (1.12%) to 31,454.25.
The price of the 10-year Treasury note was down 1/32, increasing its yield to 0.686%. The price of the 30-year Treasury bond was up 1/32, decreasing its yield to 1.435%.
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Products
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Investment Product and Service Launches
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Calvert launches institute for responsible investing; BNY Mellon and Wilshire Associates create TDF platform; and intellicents to use Morningstar managed account service.
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ON THIS DATE: In 1819, the bicycle was patented by W.K. Clarkson, Jr. In 1945, in the Herbst Theater auditorium in San Francisco, delegates from 50 nations signed the United Nations Charter, establishing the world body as a means of saving “succeeding generations from the scourge of war.” In 1948, U.S. and British pilots began delivering food and supplies by airplane to Berlin after the city was isolated by a Soviet Union blockade. In 1974, in Troy, Ohio, a Marsh supermarket installed the first bar code scanning equipment, made by IBM, and a product with a bar code was scanned for the first time. In 1996, the U.S. Supreme Court ordered the Virginia Military Institute to admit women or forgo state support. In 2003, Strom Thurmond, who served in the United States Senate for a record 46 years, died. In 2015, same-gender marriage was made legal nationwide with the Supreme Court’s Obergefell v. Hodges decision.
Sorry, no FRIDAY FUN this week.
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