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March 4th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
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Events
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HSA Conference
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Join us for the virtual HSA Conference April 13 and 14, which is designed to educate plan sponsors that currently offer, or are considering offering, these accounts. It’s also a great opportunity for advisers who want to get up to speed on this fast-growing benefit option. Through various panel discussions and presentations, employers will see how best to offer this benefit, and advisers will learn how to support them in the process. Topics to be discussed include how HSAs operate; best practices in HSA provider selection and ongoing administration; how to boost employees’ knowledge, and use, of their benefit; and more. 
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| Economic Events |
New orders for manufactured durable goods in January, up eight of the last nine months, increased $4.3 billion or 1.6% to $277.6 billion, unchanged from the previously published increase, the Census Bureau reported This followed a 1.2% December increase. Transportation equipment, up three consecutive months, led the increase, $2.9 billion or 3.4% to $87.7 billion. New orders for manufactured nondurable goods increased $3.3 billion or 1.2% to $266.7 billion.
Interest on a 30-year fixed-rate mortgage averaged 3.76% for the week ending March 3, down from last week when it averaged 3.89%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.02%. Interest on a 15-year fixed-rate mortgage averaged 3.01%, down from last week when it averaged 3.14%. A year ago at this time, the 15-year FRM averaged 2.34%.
In the week ending February 26, the advance figure for seasonally adjusted initial claims for unemployment insurance was 215,000, a decrease of 18,000 from the previous week’s revised level of 233,000, the Labor Department reported. The four-week moving average was 230,500, a decrease of 6,000 from the previous week’s revised average of 236,500.
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| Market Mirror |
Thursday, the Dow lost 96.69 points (0.29%) to finish at 33,794.66, the Nasdaq dropped 214.08 points (1.56%) to 13,537.94, and the S&P 500 closed 23.05 points (0.53%) lower at 4,363.49. The Russell 2000 decreased 26.46 points (1.29%) to 2,032.41, and the Wilshire 5000 fell 369.78 points (0.83%) to 44,996.14.
The price of the 10-year Treasury note was up 25/32, decreasing its yield to 1.841%. The price of the 30-year Treasury bond increased 30/32, bringing its yield down to 2.220%.
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Products
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Investment Product and Service Launches
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Goldman Sachs announces investment-grade debt private placements capability; FTSE Russell Equity Indices adjusts treatment of Russia; Dimensional adds three new U.S. equity ETFs; and more.
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ON THIS DATE: In 1789, the first session of the U.S. Congress was held in New York City as the U.S. Constitution took effect. In 1791, Vermont was admitted as the 14th state. In 1826, the first railroad in the U.S. was chartered. It was the Granite Railway in Quincy, Massachusetts. In 1877, Emile Berliner invented the microphone. In 1902, the American Automobile Association was founded in Chicago. In 1917, Jeanette Rankin of Montana took her seat as the first woman elected to the House of Representatives. In 1925, Calvin Coolidge took the oath of office in Washington, D.C. The presidential inauguration was broadcast on radio for the first time. In 1933, Franklin Delano Roosevelt was inaugurated as the 32nd president of the United States. In 1933, Labor Secretary Frances Perkins became the first woman to serve in a Presidential administrative cabinet. In 1950, Walt Disney’s “Cinderella” was released across the U.S. In 1954, in Boston, Peter Bent Brigham Hospital reported the first successful kidney transplant. In 1974, “People” magazine was available for the first time. In 1989, Time, Inc. and Warner Communications Inc. announced a plan to merge. In 1997, President Bill Clinton barred federal spending on human cloning.
And now it’s time for some FRIDAY FUN!
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If at first you don’t succeed, try, try again… and again, etc.
In Nova Scotia, Canada, a dog gave birth to a green puppy.
We all have bad hair days.
In New South Wales, Australia, a woman bought a ticket for the February 25 Lucky Lotteries drawing at thelott.com but forgot to check her account after the drawing. For days after, she ignored calls and emails she received, thinking they were scammers. When she finally logged in to her lottery account to check her numbers, that’s when she realized the calls and emails were not from scammers; she had won more than $72,000.
In Edinburgh, Scotland, a woman was cleaning her house, when she found a bank book for an account her grandmother opened for her when she was six years old. According to UPI, the woman said she had invested $3.35 in the account more than six decades ago. She discovered the account is now worth $335. The woman told the BBC that she found two other bank books and is planning to find out if they also bring her an unexpected windfall.
In New York City, a man went to the doctor complaining that he has had trouble breathing through his right nostril for six years. The doctor determined that he had a deviated septum. However, according to UPI, citing a case study published in the New England Journal of Medicine, a rhinoscopy conducted with a small camera discovered the cause—a tooth growing on “the floor of the right nostril.”
Have a great weekend, everyone!
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