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| Products, Deals and People | |
| Retirement Industry People Moves | |
| Industry veteran joins Meeder as SVP; PGIM appoints chief marketing officer to drive global expansion; FS Investments hires national sales manager to oversee sales professionals; and more.Read more > | |
| Economic Events | |
Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,290,000, the Census Bureau reported. This is 13.7% above the revised September estimate of 1,135,000. THE ECONOMIC WEEK AHEAD: Tomorrow, the National Association of Realtors will report about existing home sales for October. Wednesday, the Census Bureau will report about durable goods orders for October, and the Labor Department will issue its initial claims report. | |
| Sponsored message from AVIVA INVESTORS | |
| Stock correlations are down. What does it mean for investors? Correlations in U.S. and European equity markets have fallen dramatically this year, as investors focus on improving fundamentals rather than external events. Aviva Investors explores the implications of this developing trend for global markets.Read more > | |
| Market Mirror | |
Friday, the Dow lost 100.12 points (0.43%) to finish at 23,358.24, the NASDAQ decreased 10.50 points (0.15%) to 6,782.79, and the S&P 500 was down 6.79 points (0.26%) at 2,578.85. The Russell 2000 was up 5.94 points (0.40%) at 1,492.82, and the Wilshire 5000 closed 60.50 points (0.23%) lower at 26,790.38.
The yield for the 10-year Treasury note was 2.344%. The yield for the 30-year Treasury bond was 2.779%. WEEK’S WORTH: For the week ending November 17, the Dow decreased 0.27%, the NASDAQ increased 0.47%, and the S&P 500 was down 0.13%. The Russell 2000 gained 1.19%, and the Wilshire 5000 was up 0.06%. | |
| Compliance | |
| Report Highlights Dramatic Multiemployer Insurance Deficit | |
| The Pension Benefit Guaranty Corporation’s (PBGC) Fiscal Year 2017 Annual Report shows that the deficit in its insurance program for multiemployer plans rose to $65.1 billion at the end of FY 2017, up from $58.8 billion a year earlier. According to PBGC, the increase was driven primarily by the ongoing financial decline of several large multiemployer plans that are expected to run out of money in the next decade.Read more > | |
| From the Magazine | |
| The Middle Ground | |
| After years of receiving disappointing returns from the great majority of traditional active equity managers and paying high fees in return, many U.S. corporate defined benefit (DB) plan sponsors have voted with their wallets and opted for the simplicity, and market returns, of passive equity strategies at minimal cost. There is a middle ground, however, known, among other names, as “factor” investing.Read more > | |
| Small Talk | |
| ON THIS DATE: In 1789, New Jersey became the first state to ratify the Bill of Rights. In 1943, during World War II, U.S. Marines began their landing on Tarawa and Makin atolls in the Gilbert Islands. In 1945, 24 Nazi leaders went before an international war crimes tribunal in Nuremberg, Germany. In 1962, the Cuban Missile Crisis ended. The Soviet Union removed its missiles and bombers from Cuba and the U.S. ended its blockade of the island. In 1962, Mickey Mantle was named the American League Most Valuable Player for the third time. In 1983, an estimated 100 million people watched the controversial ABC-TV movie “The Day After.” The movie depicted the outbreak of nuclear war. In 1986, the one billionth Little Golden Book was printed. The title was The Poky Little Puppy. In 1993, the U.S. Senate passed the Brady Bill and legislation implementing the North American Free Trade Agreement (NAFTA). In 2001, the U.S. Justice Department headquarters building was renamed the Robert F. Kennedy building by President George W. Bush. The event was held on what would have been Kennedy’s 76th birthday. | |
| SURVEY SAYS RESPONSES: Last week, I asked NewsDash readers, “What days off does your employer provide for Thanksgiving and are you asking for more?” More than half of responding readers (52.2%) said they get Thanksgiving Day and the day after off, while 21.1% get Thanksgiving Day only. Twenty percent reported they leave early the day before and get both Thanksgiving and the day after off. Most (55.6%) of respondents have not asked for any more days off for the Thanksgiving holiday. Slightly more than 12% have asked for the day before. In verbatim comments some said working the day after Thanksgiving is productive for them, while one said the opposite. One reader said everyone should get Thanksgiving and the day after. A few readers noted that even though they get the day off, they still work. Some readers explained that their reasons for taking an extra day were not just to have a day of rest or fun, like the reader who said children are out of school the day before. Editor’s Choice goes to the reader who said: “I can turn 3 days of PTO into 9 straight days of vacation with Thanksgiving and that Friday off. That’s a value play!” Thank you to everyone who participated in the survey!Read more > | |
| Share the news with a friend! Pass the NewsDash along and tell your friends/associates they can sign up for their own copy.Read more > |
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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