Treasuries ended the week flat after two big moves in opposite directions earlier in the week. The 10-year ended the week close to 2 percent while the rest of the curve ended the week flat, with the 2-year at 0.23 percent and the 30-year at 3.1 percent.
Europe was once again the lead story in the headlines and helped dictate equity market direction last week. The market experienced large swings, but the S&P 500 ended with a gain of nearly 1 percent.
The unexpected announcement by Greek Prime Minister Papandreou that he would put the European Union’s (EU) most recent bailout package to a referendum was not well received by equity markets and contributed to declines across the board last week.
Amid international and domestic pressures, Papandreou has agreed to step down as Greek prime minister. Opposition leader Antonis Samaras will lead a new interim unity government.
Equity markets posted strong gains across the board last week. The S&P 500 gained 3.79 percent.
Treasuries sold off throughout the week before turning around on Friday, as Italy sold 10-year debt at the highest levels on record. The risk is still in place, and investors jumped back into “safety” heading into the weekend. Read more now.
For the second consecutive year, Joella Rossignol, a personal insurance specialist at Allen Insurance and Financial has been honored with the Award of Excellence for her superior underwriting skills and long-term commitment to Safeco® Insurance, member of Liberty Mutual Group.
In 2011, this award was given to only two personal insurance specialists in Maine.
“Joella understands, with extraordinary attention to detail, both the needs of her clients and the needs of the insurance company she is working with,” said Joanne Van Vactor, senior personal insurance underwriter at Safeco. “This award is a recognition of extraordinary skills.”
Joella Rossignol, personal insurance specialist, Allen Insurance and Financial and
Stephanie Davis, right, territory manager for Safeco Insurance.
The Award of Excellence celebrates those individuals with superior underwriting skills who have developed a solid underwriting partnership with Safeco and have qualified for membership in
Safeco’s H.K. Dent Society, the company’s elite agency recognition program. Agents who earn this prestigious designation will have the ability to make selected underwriting decisions, attend an awards ceremony and receive a recognition gift.
Rossignol joined Allen Insurance and Financial in 1999. A native of Island Falls, she grew up in Belfast and now lives in Monroe. She is a Certified Insurance Counselor (CIC), a designation showing commitment to continuing education in her field.
About Safeco
In business since 1923 and based in Seattle, Washington, Safeco sells insurance to drivers and homeowners through a network of independent agents and brokers in eight regions throughout the United States.
Safeco is part of Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group, consisting of property and casualty and specialty insurance carriers that distribute their products and services primarily through independent agents and brokers.
Jennifer Coffin, ACSR
“Jen is dedicated to improving her technical knowledge and enhancing her professionalism, taking steps to solidify her career,” said Gil Fifield, company president. “The ACSR designation shows our people are well-educated members of the insurance industry.”
The ACSR designation program was developed to recognize the contribution made to each customer by the service they are provided through independent insurance agencies such as Allen Insurance and Financial.
Coffin, a graduate of Medomak Valley High School, lives with her husband and their two daughters in Nobleboro. She joined Allen Insurance and Financial in 2004.
Independent Insurance Agents & Brokers of America is the nation’s oldest and largest national association of independent insurance agents & brokers with more than 300,000 members. Find them online at independentagent.com.
Allen Insurance and Financial recently made a cash donation to the Area Interfaith Outreach. AIO food collection barrels will be placed in the greater Rockland community through November 15. Look for one in the Allen Insurance and Financial office on School Street in Rockland. Pictured here are Joanne Billington, business insurance specialist at Allen Insurance and Financial and Joyce Burnham, AIO president.
Economic reports have continued to show modest improvements in the economy. Better-than-expected manufacturing numbers and a surprise increase in housing starts appeared to boost market sentiment last week. Read more now.
Equity markets surged higher last week, led by technology and small-cap stocks. The S&P 500 gained 6.01 percent.
While the S&P 500 is still slightly in the red, both the Nasdaq and Dow Jones Industrial Average are back in positive territory for the year-to-date period. International indices and smaller-cap stocks have a larger hole to dig out of before they get close to breaking even. Read more now.
Look for the release of the Federal Open Market Committee (FOMC) minutes on Oct. 12 to help give us a sense of the Federal Reserve’s intentions and its assessment of the economic outlook.
Treasuries sold off last week on better-than-expected economic numbers and more positive news coming out of Europe earlier in the week. Read more now.
A challenging economy. A competitive funding environment. It is now more important than ever for non-profit organizations to equip themselves with the tools needed to capture attention, support and donations in order to carry out their mission.
The Penobscot Bay Regional Chamber is excited to offer a new, free seminar series designed to tackle five big issues in the non-profit world: raising unrestricted funds from the business community and individuals; collaboration between organizations; board development; generating press and PR; and staging truly special events.
The seminars will be offered the second Wednesday of the month (starting Oct. 12) from 9:15 to 10:45 a.m. at the Rockland Public Library. They are open to all and will be free to attend (although a suggested donation of $5 per person to defray costs would be greatly appreciated by the Chamber, a fellow non-profit).
More information is available on the Pen Bay chamber website.
