Bernanke, Equities and the November Election

In the course of his address, whose meaning was as usual camouflaged in Fed-jargon and stippled with acronyms, Bernanke more or less assured the markets that his motto remains, “Easy does it.”

Wells Fargo’s New Annuity Wagon

Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
Featured
News

Japan gets younger, but still struggles with longevity risk

“Traditionally children would inherit their parents’ longevity risk. However, family sizes are shrinking, and the economic circumstances of parents and children have reversed. The last bastion has thus disappeared," a report from Japan says.

“Quote” of the Week

“Today’s stock market is a constantly evolving, bewilderingly complex electronic labyrinth. Not even sophisticated traders can say with certainty what happens to their order when they buy or sell shares of stock" -- from The Payoff: Why Wall Street Always Wins (Perseus 2012), by Jeff Connaughton.

The Bucket

Late-breaking item on The Hartford's sale of its retirement plans business to MassMutual. The Hartford’s institutional retirement business includes 33,000 mainly DC plans with $54.9 billion in AUM and over 1.5m participants. Also, items from Symetra and ING Group, which is selling its stake in Capital One, and MetLife, which has changed its income annuity.

“America the Undertaxed”

Compared with 33 other industrialized nations, total tax revenues in the U.S. were the third lowest as a percent of GDP in 2009. But MIT's Andrea Campbell doesn't necessarily think that's something to brag about.