Fixed Annuity sales down 1st quarter 2009
August 28, 2009 by Don · Leave a Comment
Fixed Annuities sales were down for the 1st quarter of 2009 by $1.2 Billion. The decline is as a result of the increase in the market in 2009 resulting in a better return on CDs over Fixed Income products. In 2008, the Fixed Income sales were beating the CD sales as the markets took a turn for the worst with the treasury products having negative yeilds. CD rates have now overtaken the Fixed Income products with interest rates of 3.7% compared to 3.14%. www.onwallstreet.com/news/annuity-sales-bank-2663695-1.html
