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Monday, July 10, 2023
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Gen X, the First 401(k) Generation, Is Least Prepared for Retirement
PA-070723-Gen-X-Retirement-Lag-1467939553-web
Gen Xers entered the workforce as pensions were fading and 401(k) plans were ‘primitive.’ Now they are closest to retirement but feel least ready for it, according to Transamerica research.
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FINRA Expels Brokerage Firm Monmouth for Violating Reg BI
Monmouth is the second firm to be expelled by FINRA for failing to supervise its representatives’ trading.
Today’s Most Read
1. It’s Time to Rethink Retirement, Says T. Rowe Price
2. ERISA Council Signals More Work Needed for Retirement Income Products in QDIA
3. Enhancing the Retirement Plan Digital Experience
Retirement Industry People Moves
Segal appoints Tauzer to senior VP; Cerulli promotes O’Brien to director; Newton announces Brain as deputy CIO; and more. 
Federal Agencies Propose Plugging Short-Term Health Plan Workaround
The Biden administration has proposed limiting short-term health plans it calls ‘junk insurance’ to four months instead of one year.
Supreme Court Accepts Case Challenging Legitimacy of SEC’s Adjudication System
The court has agreed to hear a case next session which could dramatically reduce the authority of in-house adjudication process for the SEC and other federal agencies.
Market Mirror Market Mirror Graph

Friday, the Dow fell 187.38 points (0.55%) to close at 33,734.88, the Nasdaq fell 18.33 points (0.13%) to close at 13,660.72 and the S&P 500 fell 12.64 points (0.29%) to close at 4,398.95. The Russell 2000 rose 22.43 points (1.22%) to close at 1,864.66 and the FT Wilshire 5000 Total Market Index fell 50.04 points (0.11%) to close at 44,374.71.

The price of the 10-year Treasury note fell 2/32, bringing the yield to 4.065%. The price of the 30-year Treasury bond fell 29/32, bringing the yield to 4.048%.

For the week ending July 7, the Dow fell 1.96%, the Nasdaq fell 0.92% and the S&P 500 fell 1.16%. The Russell 2000 fell 1.27%, and the FT Wilshire 5000 Total Market Index finished 1.13% lower.

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