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PLANSPONSOR NEWSDASH LOGO October 28th, 2022
Insight on Plan Design & Investment Strategy Every Weekday
Deals and People
Investment Bank’s Policy Strategist Says Republicans Likely to Take House of Representatives
Investment Bank’s Policy Strategist Says Republicans Likely to Take House of Representatives
The Chief Washington Strategist at Stifel believes Republican control could lead to headline and potential policy risks for 'woke capital.'
Data and Research
Satisfaction with Work-Life Balance Has Dropped
Across several key workplace metrics, worker satisfaction has declined, in 2022.   
Most Read
Compliance
Senator Cardin Worried SECURE 2.0 Won’t Pass This Year
Investing
Morgan Stanley Expands Robo-Advising Tech with Blooom Purchase
Compliance
Republicans Move to Prevent SEC Climate Disclosure Requirements
ECONOMC EVENTS
In the week ending October 22, the advance figure for seasonally adjusted initial claims for unemployment insurance was 217,000, an increase of 3,000 from the previous week’s unrevised level of 214,000, Labor Department reported. The four-week moving average was 219,000, an increase of 6,750 from the previous week’s unrevised average of 212,250.

Interest on a 30-year fixed-rate mortgage averaged 7.08% for the week ending October 27, up from last week when it averaged 6.94%. A year ago at this time, the 30-year FRM averaged 3.14%. Interest on a 15-yer fixed-rate mortgage averaged 6.36%, up from last week when it averaged 6.23%. A year ago at this time, the 15-year FRM averaged 2.37%.

New orders for manufactured durable goods in September, up six of the last seven months, increased $1.0 billion or 0.4% to $274.7 billion, the Census Bureau reported. This followed a 0.2% August increase. Excluding transportation, new orders decreased 0.5%. Excluding defense, new orders increased 1.4%. Transportation equipment, up five of the last six months, drove the increase, $1.9 billion or 2.1% to $95.4 billion.
MARKET MIRROR
Thursday, the Dow gained 194.17 points (0.61%) to close at 32,033.28, the Nasdaq lost 178.32 points (1.63%) to end trading at 10,792.67 and the S&P 500 decreased 23.30 points (0.61%) to close at 3,807.30. The Russell 2000 gained 1.99 points (0.11%) to close at 1,806.32 and the Wilshire 5000 lost 190.28 points (0.50%) to close at 38,071.34.

The price of the 10-year Treasury note increased 28/32 lowering the yield to 3.924%. The price of the 30-year Treasury bond increased 31/32 lowering the yield to 4.087%.
UpFront
Treat Health-Care Debt With Joint Education
Teach employees about medical costs along with their plan savings account, in retirement.
EVENTS
Exploring ESG Investing Conference
Join us Thursday, November 10, for a virtual conference to learn about regulations for environmental, social and governance investing in retirement plans; the debate over whether ESG factors are financial/performance factors; and what allocators, plan sponsors and advisers should consider when deciding whether and how to use ESG investments.
SURVEYS
DC Survey Now Open
For more than 20 years, PLANSPONSOR’s annual Defined Contribution Survey has provided benchmarking data for nearly 50 industries/business sectors and for 401(k), 403(b), and other DC plans, as well as nonqualified plans. Represent your industry and plan type by participating, and you’ll receive a free benchmarking report.
SMALLL TALK
ON THIS DATE: In 1636, Harvard University, the oldest institute of higher learning in the United States, was founded. In 1776, the Battle of White Plains, a battle in the New York and New Jersey campaign of the American Revolutionary War, took place near White Plains, New York. In 1793, Eli Whitney applied for a patent for his cotton gin. In 1886, the Statue of Liberty was dedicated in New York Harbor by President Grover Cleveland. In 1919, Congress passed the Volstead Act over President Woodrow Wilson’s veto, which provided for the enforcement of the 19th Amendment to the U.S. Constitution, allowing guidelines for prohibition. In 1965, the Gateway Arch along the waterfront in St. Louis, was completed. In 1996, the Dow Jones Industrial Average gained a record 337.17 points, one day after the Dow had dropped 554.26 points. In 2007, lawyer and politician Cristina Fernández de Kirchner became the first woman elected president of Argentina.
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