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Investing for retirement: a long-term game many workers aren’t even playing

“The recent volatility of the stock market represents an important teachable moment about investing and saving for retirement” writes Angela Antonelli for marketwatch.com. The lesson from this: highlighting short-term gains to retirement portfolios can do more harm than good to long-term retirement savings and can weaken the financial well-being of today’s workers.We are seeing this now as a rising stock market increased the size of retirement portfolios.More than half today’s private sector workers – an estimated 55 million Americans – do not have access to an employer-sponsored retirement savings program.But…

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Fidelity prevents retail clients from trading short volatility products

“The collapse of short volatility products earlier this week prompted Fidelity, one of the largest retail brokerage companies, to prevent clients from trading ProShares Short VIX Short-term Futures ETF SVXY, +10.54% temporarily, the Financial Times reports” writes Anora M for marketwatch.com. According to a Fidelity spokesperson, cited in the Financial Times, retail clients cannot buy or sell SVXY, while margin requirements on other products betting on volatility have been increased.Fidelity expects to lift the temporary restriction on trading in “foreseeable future provided the market cooperates,” according to the FT report. Source:…

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US Treasury yields steady at end of volatile week

“Shorter-end U.S. Treasury yields fell in midday Friday trading as traders bet on fewer rate hikes by the Federal Reserve this year” writes Evelyn Cheng for cnbc.com. The rate-sensitive 2-year Treasury yield fell to around 2.07 percent as of 12:16 p.m., ET. The benchmark 10-year Treasury yield also fell, trading near 2.82 percent.As measured by CME’s fed funds futures, the probability of a June rate hike fell below 50 percent from near 55 percent a week ago.On Thursday, the yield came close to a 4-year high of 2.885 percent that…

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OMB warns government agencies to prepare for government shutdown

“The government was partially shut down for three days last month due to an impasse over the last short-term spending deal” writes Diana Stancy Correll for washingtonexaminer.com. The deal as it stands aims to ignore budget caps in order to increase national security spending and nondefense spending in the omnibus bill that is expected to be passed next month. Source: washingtonexaminer.com Share This:

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Congress on track to avoid another shutdown

“More significantly, Democrats agreed to drop a demand that spending legislation include a provision to protect so-called Dreamers from deportation” writes Susan Ferrechio for washingtonexaminer.com. Proponents of the budget deal said it would finally provide adequate and reliable funding for the military after years of spending reductions caused by the 2011 Budget Control Act.The House and Senate were on track Thursday to pass legislation that funds the government through late March, and allows unlimited federal borrowing for one year. Source: washingtonexaminer.com Share This:

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Get ready for a game of chicken on government funding this week

“Defense Secretary James Mattis urged GOP lawmakers at their retreat last week to end the short-term funding because it is harming military readiness” writes Susan Ferrechio for washingtonexaminer.com. But, House Republicans — facing pressure from defense hawks and conservatives — have warned House GOP leaders they won’t vote for any more short-term bills without full defense funding.Senate Democrats have long pledged to filibuster a short-term spending measure that fully funds defense for fiscal 2018 and exceeds federally mandated spending caps.But that would require Democrats to pass the bill since so…

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How fast has the Dow risen? It would take an 800-point tumble to take it below its short-term average

“Despite an ugly weekly decline for the Dow Jones Industrial Average, the blue-chip gauge has risen so far and so fast that it would require a roughly 900-point drop to push it below its 50-day moving average” writes Mark Decambre for marketwatch.com. In order to slump under its longer-term, 200-day moving average it would need to plunge to 22,704.53, or a whopping 3,100 points, a drop of about 12%.However, the equity gauge would need to slump to 25,023.91, a decline of 775 points, of about 3%, from its current level.The…

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Myths about short-term health insurance

“The typical short-term health insurance application includes five to seven eligibility questions depending on the insurance company” writes Bruce Telkamp for marketwatch.com. Some critics of short-term health insurance argue the product is “junk insurance.” However, when comparing average deductibles in 2017, short-term insurance averaged $3,434, which was $2,658 less than the average deductible for an entry-level bronze plan.President Donald Trump intends to reverse the late-2016 Obama administration regulation that restricted short-term health insurance coverage to less than three months. Source: marketwatch.com Share This:

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