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CUSIP: 3130B13H8 Security Type: Government Agencies Issuer Name: Federal Home Loan Bks Maturity Date: 05/03/2029 Coupon Rate: 6.250%
Thanks. I was going to buy it at Fidelity. The first settlement for this is May 14. It is not in the new issue inventory, which means the issuer is done accepting offers (bids) from Fidelity. I could not find it in the secondary list either but I was able to pull it up by the CUSIP # but it shows no bids and asks. Agencies bought in secondary market attract transaction fees (0.1% or $100 fees for 100K face amount?).
Politicians. Groucho on politics: "Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies."
Sold all my hedges.The near 2% weighting went into cash. Might put some to work late in day depending on course of markets. LCORX (already own) is one candidate - off quite a bit from its high. Hedges sold included SJB, CCOR, NSRGY. The last one is consumers staples (defensive sector) + was also a play on weaker dollar. Hated to sell. But market valuations have fallen in recent weeks.
@BaluBalu, bought at Schwab, yesterday in the A.M. It is not on the list this morning. .
Thanks. Last year I bought a few agencies and all those got called after rates bottomed in Dec / Jan. Fidelity is currently showing 6.1% for a first settlement on 5/15 and maturing in 2029.
Did you always get the new agencies at par or they charged a premium? At Fidelity there is no bid or ask price. So, you only know coupon when you submit an order for a settlement that is 2 weeks away and the order money is tied up until then, at least in MM at Fidelity- not sure if you have to move the order money to cash at Schwab.
05:19 PM EDT, 05/02/2024 (MT Newswires) -- Apple ( AAPL ) late Thursday reported a surprise increase in fiscal second-quarter earnings despite a slowdown in iPhone sales while the technology giant announced additional stock repurchase authorization of up to $110 billion.
Per-share earnings rose to $1.53 for the quarter ended March 30 from $1.52 a year earlier, compared with the GAAP consensus on Capital IQ for the metric to fall to $1.51. Net sales fell 4% to $90.75 billion, but came in ahead of Wall Street's $90.45 billion view. Shares were up 7.5% in after-hours trading Thursday.
The company's additional $110 billion buyback plan reflects "confidence in Apple's ( AAPL ) future and the value we see in our stock," Maestri said.
Apple ( AAPL ) raised its quarterly cash dividend by 4% to $0.25 per share, payable May 16 to shareholders of record on May 13. Price: 185.57, Change: +12.54, Percent Change: +7.25
Continuing to add to MM position at Schwab with a 5.03% yield. It's not a rate that's locked-in as with a CD, but I like the ride, so far. Small baby steps, gummint money fund.
c @Crash, this may be a dumb question, but are you taking these small baby steps from the sweep account to the MM account? Or is this new money you are adding to your Schwab account. Don't want to state the obvious, but the sweep should always hold as little as possible since it returns near to nothing.
Moved all our VSCSX to VG mmkt (5.28%) to be re-deployed into individual t-bills, notes, bonds (upcoming 3-yr and 10-yr auctions). Moved an overweight position in VWIAX to VG mmkt for future reinvestment to VTI, JQUA, and individual treasuries as well.
@Crash- in addition to @MikeM 's advice- the only reason that I personally keep any cash in the Schwab sweep account is in case I might need to move it somewhere else, like maybe our Schwab Bankchecking account in anticipation of checks to be written.
If you aren't using a Schwab checking account (and if you have a decent checking account elsewhere there's really no need to) then there's no reason to keep any cash in the sweep account- just put it all over to the MM account.
The only reason that we are using Schwab for bank services is because I don't care for Morgan Chase or BofA.
Moved all our VSCSX to VG mmkt (5.28%) to be re-deployed into individual t-bills, notes, bonds (upcoming 3-yr and 10-yr auctions). Moved an overweight position in VWIAX to VG mmkt for future reinvestment to VTI, JQUA, and individual treasuries as well.
Is it fair to say you are decreasing your allocation to equities on a temporary basis?
@BaluBalu - You are spot on! The shift away from VG Wellesley is to reallocate from a Value and interm bond fund, to separate equity and bond investments. These will go to a total equity index and individual treasuries.
c @Crash, this may be a dumb question, but are you taking these small baby steps from the sweep account to the MM account? Or is this new money you are adding to your Schwab account. Don't want to state the obvious, but the sweep should always hold as little as possible since it returns near to nothing.
Oh, yes--- it's all new money. Schwab takes $$ from my NFCU checking acct. and deposits it as Cash. The very next day, I move it to the MM. I keep zero in the Sweep. @Old_Joe
Slightly OT question (for a Buy/Sell thread), but we are moving to Schwab for good from TD Ameritrade next weekend: are the money market holdings at Schwab considered investable cash, or do you have to sell the money market funds first and then trade them the next day?
Slightly OT question (for a Buy/Sell thread), but we are moving to Schwab for good from TD Ameritrade next weekend: are the money market holdings at Schwab considered investable cash, or do you have to sell the money market funds first and then trade them the next day?
TIA
You need to sell first, which adds friction/delay to transactions you might want to pounce on. Though I think they are T+1 so there's only a day's delay, but still.
I still have a large chunk of cash sitting in the Schwab sweep account b/c I don't want to play the game of buying/selling MMFs before making stock purchases. And since I really don't want interest income at the moment (taxed at my W-2 rate) I'm okay with Schwab making some $$ off of it by paying .001 or whatever it is nowdays.
How Schwab handles free cash is the only serious problem I've had with them since moving from TD back in Oct 2020.
Any possibility one could claim a loss on taxes ? One gets pd .5% interest vs 5% interest. Thus 4.5 % loss on amount held for quick buys. Or just the price of doing business ?!
Limit order went through on PSTL (sell.) At a -6.39% loss. It stung for half of a moment. It feels like a burden is lifted. I'll put a bit of the proceeds in gummint MM SNVXX and sit on the rest of it, waiting for a DOWN day. Everything is pretty much UP today. Near 52-week highs.
......And the lovely message on the trade ticket warns me to wait until settlement, anyhow. ORK. I've seen that happen to some of you others in here, too.
"How Schwab handles free cash is the only serious problem I've had with them since moving from TD back in Oct 2020."
I thought their handling cash has been the same ever since the acquisition was announced. So, even if you were to stay with TD until next week, the irritation would have been the same. The free cash situation has been worse at TD but I tolerated for the better customer service.
Bought a chunk of MNHAX for the IRA today. The money had been sitting in a MM. Most of my bond investments are higher-rated and shorter-duration, so, what the hey . . . It was that, or back into a bank-loan fund. I think I have sufficient floaters between VRIG and USFR.
If Mr. Market cooperates, I hope to be selling out some smaller equity funds sometime soon. We shall see. Mr. Market seems to become irascible after Fed Wednesdays.
Nothing worth buying in the taxable these days. I am looking at some small flyers in GRID, FIW, and PAVE. I don't feel the same need to consolidate the taxable. I'll leave that to my heirs.
Limit Order on EPRT is still open. But I'm not going to chase it. Let the price come down to where I want it. My chosen price-point is not radically low. In other news: FALN pays today.
Comments
When and at which brokerage did you buy it?
We must slow the implementation of the inflation reduction act to slow inflation
Clown world all around, no?
Groucho on politics:
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies."
Did you always get the new agencies at par or they charged a premium? At Fidelity there is no bid or ask price. So, you only know coupon when you submit an order for a settlement that is 2 weeks away and the order money is tied up until then, at least in MM at Fidelity- not sure if you have to move the order money to cash at Schwab.
05:19 PM EDT, 05/02/2024 (MT Newswires) -- Apple ( AAPL ) late Thursday reported a surprise increase in fiscal second-quarter earnings despite a slowdown in iPhone sales while the technology giant announced additional stock repurchase authorization of up to $110 billion.
Per-share earnings rose to $1.53 for the quarter ended March 30 from $1.52 a year earlier, compared with the GAAP consensus on Capital IQ for the metric to fall to $1.51. Net sales fell 4% to $90.75 billion, but came in ahead of Wall Street's $90.45 billion view.
Shares were up 7.5% in after-hours trading Thursday.
The company's additional $110 billion buyback plan reflects "confidence in Apple's ( AAPL ) future and the value we see in our stock," Maestri said.
Apple ( AAPL ) raised its quarterly cash dividend by 4% to $0.25 per share, payable May 16 to shareholders of record on May 13.
Price: 185.57, Change: +12.54, Percent Change: +7.25
@Crash, this may be a dumb question, but are you taking these small baby steps from the sweep account to the MM account? Or is this new money you are adding to your Schwab account. Don't want to state the obvious, but the sweep should always hold as little as possible since it returns near to nothing.
If you aren't using a Schwab checking account (and if you have a decent checking account elsewhere there's really no need to) then there's no reason to keep any cash in the sweep account- just put it all over to the MM account.
The only reason that we are using Schwab for bank services is because I don't care for Morgan Chase or BofA.
@Old_Joe
TIA
I still have a large chunk of cash sitting in the Schwab sweep account b/c I don't want to play the game of buying/selling MMFs before making stock purchases. And since I really don't want interest income at the moment (taxed at my W-2 rate) I'm okay with Schwab making some $$ off of it by paying .001 or whatever it is nowdays.
How Schwab handles free cash is the only serious problem I've had with them since moving from TD back in Oct 2020.
......And the lovely message on the trade ticket warns me to wait until settlement, anyhow. ORK. I've seen that happen to some of you others in here, too.
I thought their handling cash has been the same ever since the acquisition was announced. So, even if you were to stay with TD until next week, the irritation would have been the same. The free cash situation has been worse at TD but I tolerated for the better customer service.
@Graust,
I moved most of the positions that are not somewhat permanent out of TD so they do not go to Schwab, and moved somewhat permanent positions to Schwab.
If Mr. Market cooperates, I hope to be selling out some smaller equity funds sometime soon. We shall see. Mr. Market seems to become irascible after Fed Wednesdays.
Nothing worth buying in the taxable these days. I am looking at some small flyers in GRID, FIW, and PAVE. I don't feel the same need to consolidate the taxable. I'll leave that to my heirs.