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10 Things You Should Know This Week

Week of 12/15/24

One

Moving on down – The MOVE Index, which measures volatility in the bond market, is down nearly 40% since Election Day. The Index is at its lowest point since February 2022 as investors have become more confident that the Federal Reserve will continue cutting rates. (Source: Yahoo Finance)

Two

Just in time for holiday baking – November’s inflation figure ticked up just 0.3% in November, but in line with economic forecasts. The prices of used cars and trucks led the increases in November, while cereals and baking products got cheaper. (Source: The New York Times)

Three

If at first you don’t succeed, keep on cutting – Business activity across the euro zone fell sharply in November as both the manufacturing and services sectors experienced significant contractions. Faced with a sluggish economy, political turbulence, and prospects of renewed trade tensions, the European Central Bank cut interest rates by 25 basis points for its fourth straight reduction. (Source: CNBC)

Four

Doctor says it’s a case of the Trump bump – Investors have poured a record $1 trillion into US ETFs so far this year, reaching a new milestone for the industry. In November alone, despite having fewer-than-average trading days, ETFs attracted $155 billion, driven by market optimism following President-elect Donald Trump's election win and the anticipation of supportive economic policies. (Source: Bloomberg)

Five

Over the river and through the woods, but cheaper! – The national average for gas prices is set to hit its lowest rate since May 2021. Currently, the national average for a gallon of gas sits at $3.01, and 32 states already have an average below or well below $3. Gas is most expensive in Hawaii at $4.56 per gallon and cheapest in New Mexico at $2.76 per gallon. (Source: USA Today)

Six

A tough pill to swallow – In the week following the targeted attack on the UnitedHealthcare CEO, health-insurer stocks tumbled as the industry faced renewed scrutiny. Shares of UnitedHealth Group, UnitedHealthcare’s parent, declined more than 12% in just five days, while shares of other insurance carriers also fell. (Source: Axios)

Seven

Golden years? Or fool’s gold? – A new study has found that 80% of Americans 60 and older are either financially struggling now or are at risk for economic insecurity in retirement. Even more, nearly 50% of older adults have an average income below what they need to cover their basic needs. (Source: National Council on Aging)

Eight

No signs of Quasi Modo, though – Notre-Dame Cathedral has reopened five years after a massive fire in 2019. The restoration pulled in more than 2,000 workers and craftsmen who not only rebuilt portions that were destroyed by the actual fire but also removed smoke and water damage and layers of toxic dust from the cathedral's melted lead roof. All 8,000 pipes of the cathedral's grand organ were removed to be cleaned and returned. (Source: AP News)

Nine

And then she didn't even announce Rep TV – After 21 months and 149 shows spanning the globe, Taylor Swift gave her final Eras Tour performance in Vancouver, and the tour's numbers were predictably eye-popping. The Eras tour sold more than $2 billion in tickets—double the gross ticket sales of any other concert tour in history. (Source: The New York Times)

Ten

Swung for the stars and nailed it – At just 26 years old, superstar outfielder Juan Soto has landed the largest contract in pro sports history—a $765 million contract with the New York Mets paid out over 15 years. Soto already has a World Series ring (from the 2019 Washington Nationals), four all-star appearances, a batting title, and three top-five MVP finishes. (Source: MSNBC)

 

MOVE Index is a yield-curve-weighted index of the normalized implied volatility on one-month Treasury options. It’s a weighted average of one-month over-the-counter options on 2-year, 5-year, 10-year and 30-year Treasuries implied volatilities with weights of 0.2, 0.2, 0.4, and 0.2, respectively. 

A basis point is a unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument. The basis point is commonly used for calculating changes in interest rates, equity indices and the yield of a fixed-income security. 

Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results. Indices are unmanaged and not available for direct investment.

Hartford Mutual Funds may or may not be invested in the companies referenced herein; however, no particular endorsement of any product or service is being made.

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