|
March 1st, 2023
Insight on Plan Design & Investment Strategy Every Weekday
|
|
|
|
|
|
|
|
|
|
|
|
| ECONOMIC EVENTS |
|
The Conference Board Consumer Confidence Index decreased in February for the second consecutive month. The Index now stands at 102.9, down from 106.0 in January. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased to 152.8 from 151.1 last month. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell further to 69.7 from a downwardly revised 76.0 in January.
|
|
|
|
| MARKET MIRROR |
Tuesday, the Dow decreased 232.39 points (0.71%) to close at 32,656.70, the Nasdaq decreased 11.44 points (0.10%) to close at 11,455.54 and the S&P 500 lost 12.09 points (0.30%) to close at 3,970.15. The Russell 2000 gained 0.72 points (0.04%) to close at 1,896.99 and the Wilshire 5000 lost 104.71 points (0.26%) to close at 39,704.38.
The price of the 10-year Treasury note was unchanged, bringing the yield to 3.924%. The price of the 30-year Treasury bond increased 2/32, bringing the yield to 3.921%.
|
|
|
|
|
|
|
|
|
|
ON THIS DATE: In 1692, in the Massachusetts Bay Colony, the Salem witch trials started when four women were charged with illegal practice of witchcraft. In 1781, the Articles of Confederation were ratified. The Articles were initially signed by Congress and sent to the individual states for ratification in 1777, after 16 months of debate. In 1872, Yellowstone National Park was established by Congress as the country’s—and the world’s—first national park. In 1867, Nebraska was admitted to the United States as the 37th state. In 1932, the infant son of aviator Charles A. Lindbergh was abducted from his home. Bruno Hauptmann was later convicted of the baby’s kidnapping and murder. In 1936, after five years of construction, the Hoover Dam on the Colorado River at the Arizona–Nevada border was completed. In 1961, the Peace Corps was established by President John F. Kennedy . In 2005, the Supreme Court ruled that it was unconstitutional to execute convicts who were under age 18 at the time of their crimes.
|
|
|
| Industry Intel Roundup—Featured Webcasts | | PLANSPONSOR is pleased to present the next edition of our Industry Intelligence roundup. This week, we are featuring webcasts sponsored by experienced providers in the industry. The content was created to educate, inform and offer ideas for plan sponsors regarding plan design, investing, administration and compliance. | | | | |  | | SPONSORED BY: Franklin Templeton | | 2023 Coalition Greenwich LDI Research Study: Corporates Move to Secure Funded Status and Begin Endgame | | Join pension experts from Coalition Greenwich, Mercer, Sterling Capital and Franklin Templeton as they explore the new fully-funded landscape for corporate defined benefit plans.
Key Topics:
• Greenwich reveals the top findings from their new 2023 LDI investor study.
• Mercer discusses why other pension plans believe this is a critical time to evolve LDI allocations to be more diversified and defensively structured.
• Sterling Capital discusses the practical approaches they are taking to lower funded status volatility, protect gains, and reposition for endgame scenarios for their clients.
Each attendee will be sent a complimentary copy of the NEW Coalition Greenwich LDI study. |
|
| | | | |
Did someone forward you this newsletter? Sign up here to get NEWSDash directly in
your mailbox!
|
|
|
|
|
©2023 Asset International Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850
|
|
