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May 21st, 2021
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
Interest on a 30-year fixed-rate mortgage averaged 3.00% for the week ending May 20, up from last week when it averaged 2.94%, according to Freddie Mac. A year ago at this time, the 30-year FRM averaged 3.24%. Interest on a 15-year fixed-rate mortgage averaged 2.29%, up from last week when it averaged 2.26%. A year ago at this time, the 15-year FRM averaged 2.70%.
In the week ending May 15, the advance figure for seasonally adjusted initial claims for unemployment insurance was 444,000, a decrease of 34,000 from the previous week’s revised level of 478,000, the Labor Department reported. This is the lowest level for initial claims since March 14, 2020, when it was 256,000. The four-week moving average was 504,750, a decrease of 30,500 from the previous week’s revised average of 535,250. This is the lowest level for this average since March 14, 2020, when it was 225,500.
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| Market Mirror |
Thursday, the Dow was up 188.11 points (0.56%) at 34,084.15, the Nasdaq climbed 236.00 points (1.77%) to 13,535.74, and the S&P 500 closed 43.44 points (1.06%) higher at 4,159.12. The Russell 2000 increased 14.12 points (0.64%) to 2,207.76, and the Wilshire 5000 gained 478.66 points (1.12%) to finish at 43,344.19.
The price of the 10-year Treasury note was up 4/32, decreasing its yield to 1.628%. The price of the 30-year Treasury bond increased 8/32, bringing its yield down to 2.336%.
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Compliance
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New York Secure Choice Savings Program Could Become Automatic
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A proposal passed by a wide margin in the New York State Assembly would ensure that private-sector employees are automatically enrolled into the Secure Choice Savings Program, and if they do not want to participate, they must opt out. 
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ON THIS DATE: In 1602, Martha’s Vineyard was first sighted by Captain Bartholomew Gosnold. In 1881, in Washington, D.C., humanitarians Clara Barton and Adolphus Solomons founded the American National Red Cross, an organization established to provide humanitarian aid to victims of wars and natural disasters in congruence with the International Red Cross. In 1881, the United States Lawn Tennis Association was formed in New York City. In 1904, Fédération Internationale de Football Association (FIFA) was founded. In 1956, the U.S. exploded the first airborne hydrogen bomb in the Pacific Ocean over Bikini Atoll. In 1970, the National Guard was mobilized to quell disturbances at Ohio State University related to the escalation of the Vietnam War.
And now it’s time for some FRIDAY FUN!
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This is why you shouldn’t take a selfie while riding a bike.
This pug decided it is done walking.
A neat invention to help you zip through the airport.
In Chiang Mai Province, Thailand, the Mae Chaem district has come up with an enticing incentive for residents to get the COVID-19 vaccine. From next month, one lucky vaccinated villager will be randomly chosen every week to win a young cow worth around 10,000 baht ($319). The campaign, set to run for 24 weeks, has been met with enthusiasm in the town of 43,000 since it was announced earlier this week, Reuters reports. “Our vaccine registration numbers have gone from hundreds to thousands in a couple of days,” district chief Boonlue Thamtharanurak told Reuters.
Wishing everyone a safe and happy weekend!
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