The yield on the 10-year Treasury was as high as 2.73 percent on Monday morning, after a volatile Friday, when it ended the day at 2.74 percent.
Trading volume may have been low during the holiday-shortened week, but the equity markets made a strong push higher on Friday after a better-than-expected payroll report. The S&P 500 climbed 1.63 percent, but the small-cap Russell 2000 Index was the strongest performer with a gain of 2.87 percent.
Wyatt Lafreniere of Lincolnville is Allen Insurance and Financial’s 2013 summer intern.
Lafreniere, a 2012 graduate of Camden Hills Regional High School, is double majoring in finance and resource economics at the University of Massachusetts’ Isenberg School of Management in Amherst, Mass.
“My goal for my internship here at Allen Financial is to learn more about the business world — to just get a feel for how a business works and what I might be doing after I graduate. It is nice to see how what I am being taught in classes is applied in the real world with actual problems,” said Lafreniere.
Allen Insurance and Financial’s summer internship program allows a local high school graduate the opportunity to learn about each of the company’s insurance and financial planning departments. Lafreniere’s desk is based in the personal insurance department, where he is working with Account Executives Cale Pickford and Jennifer Coffin.
In the fall, Lafreniere plans to play club ultimate Frisbee and club soccer.
For plan years beginning on or after Jan. 1, 2014, the Affordable Care Act (ACA) prohibits group health plans and group health insurance issuers from applying any waiting period that exceeds 90 days.
ACA’s 90-day waiting period limit does not require an employer to offer coverage to any particular employee or class of employees, including part-time employees. It only prevents an otherwise eligible employee (or dependent) from having to wait more than 90 days before coverage under a group health plan becomes effective.
Allen Insurance and Financial’s Insured Benefits Division is available to answer your questions about the Affordable Care Act and what it means for you.
While many agree that Treasury yields present a decent opportunity at current levels, there’s no lack of volatility in the market. After bouncing as high as 2.64 percent last Monday, yields on the 10-year Treasury fell as low as 2.45 percent late in the week. The 10-year begins what could be a slower holiday week slightly above 2.50 percent.
Read our Weekly Market Summary.
NEW: Brad McMillan, vice president, chief investment officer of the Commonwealth Financial Network, talks with Maria Considine King, vice president of practice management, about the Fed’s announcement of a reduction in stimulus. Brad also offers updates on China and Europe, as well as his thoughts on what to look for in the financial markets going forward. Click for the video.
Stephanie Davis of Safeco Insurance and Tom Nanof of Peerless Insurance, visited Allen Insurance and Financial’s Camden office recently to congratulate the company on being named a President’s Award winner and member of the Safeco Premier Partner program. With them, at left, is Allen Insurance and Financial Executive Vice President Michael Dufour.
Allen Insurance and Financial has earned two top honors from Safeco Insurance® — the distinguished President’s Award and membership in the Premier Partner program.
Approximately 200 agencies that sell Safeco Insurance in the United States earn the President’s Award each year, which celebrates their success with Safeco. The Premier Partner distinction recognizes excellent performance as well, providing agencies with access to special programs designed to help grow their business while maintaining high standards of service for customers.
“President’s Award and Premier Partner agencies are among the best independent insurance agencies that sell Safeco,” said Matt Nickerson, president of Safeco Insurance. “These awards celebrate the hard work, dedication and success of Allen Insurance and Financial as a loyal Safeco partner who works with us to be there when customers need us most.”
The yield on the 10-year Treasury was as high as 2.63 percent early Monday morning. This move seems to be in reaction to last Wednesday’s Federal Open Market Committee (FOMC) meeting, during which Chairman Bernanke gave us more clarity on the Fed’s exit plan. Read more now in our Weekly Market Summary.
When it comes to planning for retirement, the more you save today, the better prepared you’ll be tomorrow. That’s why we are sharing five easy steps to take right now that could make all the difference in reaching your goals.
1 Periodic investment plans and dollar cost averaging do not assure a profit or protect against losses in declining markets. Such plans involve continuous investment regardless of market conditions. Markets will fluctuate, and clients must consider their ability to continue investing during periods of low price levels. The above hypothetical example illustrates the potential value of regular monthly investments and assumes an average annual rate of return of 7 percent. The end value doesn’t reflect taxes or fees. Earnings and pretax contributions from Traditional IRAs are subject to taxes when withdrawn. IRA distributions taken before age 59½ may also be subject to a 10-percent penalty. Earnings distributed from Roth IRAs are free from income tax, provided certain requirements are met.
Little movement is expected in the Treasury market to start off the week, as investors wait for notes from the Federal Open Market Committee (FOMC) meeting this Tuesday and Wednesday. The 10-year Treasury stood at 2.12 percent early Monday morning.
Given volatility in the markets and a slowing economy, many expect Federal Reserve Chairman Ben Bernanke to confirm a continued commitment to quantitative easing. Read more now .
Volatility continues to be the main theme in the Treasury space. In the past week, the yield on the 10-year Treasury has moved
from 2.17 percent, down to 2 percent late Friday, and back up to 2.17 percent early Monday morning. Read more in our Weekly Market Summary.
