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End of an era.
LOMMX is among the oldest allocation/balanced funds with inception 11/6/1929. Very ironic that Barron's cover story this week mentions that after historic selloff due to simultaneous stock and bond bear markets, the allocation/balanc…
TIAA Traditional Rates, October 1, 2022
Restricted RC 6.00%, RA 5.75%
Flexible RCP 5.25%, SRA 5.00%, Newer IRA 3.05%
Across the board increases +0.25%.
Tiny increases in lifetime payout rates.
#TIAA #StableValue #GuaranteedIncome #403b
https://ybbpe…
It's over! The end of awful week, month and quarter, as well-put by CNBC.
https://www.cnbc.com/2022/09/29/stock-futures-are-flat-following-thursdays-broad-sell-off.html
June-low-test has also FAILED.
Nasdaq Comp sank past its June low (10,646) to …
Fed closed board meeting under expedited procedures are routine. Other federal agencies also hold meetings under expedited procedures. The expedited procedures are related to Congressional notification and/or Congressional approval/disapproval of ag…
As for corrected 1099 from Schwab, several have reported the issue here. Seems to be a Schwab cost-basis recordkeeping issue. But there were no real explanations from Schwab with the corrected 1099, only some vague references that this can happen fo…
@Observant1, most low-tests fail like waterfalls with all major indexes collapsing on the same day or the next day. But this week+ long low-test is like water-torture. It started last week on Thursday and here we are a week later, and only DJ Transp…
Fund Allocations (Cumulative), 8/31/22
There were minor declines in the stock funds. The changes in the totals were based on a total OEFs & ETFs AUM of about $29.95 trillion in the previous month, so +/- 1% change was about +/- $299.5 billion. …
TSP L funds are TDFs with lower equity exposures than commercial TDF peers & with the SV Fund G as fixed-income. These factors caused performance lag when markets were rising, but are helping now in this dual stock-bond bear market.
9/28/22
Bond/Treasury ^MOVE 158.99, up on a historic day when the BOE intervened with QE to support the UK bonds and pound (a dramatic reversal to the QT announced just past Friday).
SP500 ^VIX 30.18, down but high
SP500 ^SKEW 120.38, flat and OK
In reading about central banks recently, I found that the Treasury in the UK contractually indemnifies the BOE on its QE operations, i.e., any profits net of expenses go to Treasury, and any losses will be absorbed by the Treasury. BOE uses Treasury…
9/27/22
SPY -0.26%, BND -0.44%, LQD -1.50%, VBINX -0.23%
So, the problem with VWINX -0.78% was its corporates.
Nonetheless, VWINX had the largest decline among the hybrid funds (MA, CA, multi-asset) on my watchlist, and FPURX -0.14% the smallest…
From what I understand, even idle natural gas pipelines under sea-water are kept pressurized. May be not to full pressure. Otherwise, any leaks will cause salt water to slowly seep into the pipes.
There are all kinds of speculations on Twitter.
Could be Russia to get out of any contract obligations.
Could be the US - there are videos circulating of Biden threatening NS1 & NS2 in Feb 2022 and other US spokesmen issuing statements on NS.
…
I may inject my typical cautions about ST-HY. Many think, mistakenly, what can go wrong in few months. Plenty, if credit conditions tighten. Then the rollover/re-fi of maturing HY becomes difficult. Defaults don't have to happen. Investors then wond…
@Derf, a minor bounce today will create more mess. The 3+ day low-June-test isn't over yet as Nasdaq Comp and R2000 haven't fallen through. So, I hope that today is either a huge up-day that will say low-test was a success (minor breaches are OK), o…
Bonds were so weak today, 9/26/22, that several allocation funds lost MORE than SP500. Here are several familiar ones:
Moderate-allocation BALFX, DODBX, FBALX, FPURX, VBINX, VGSTX, VSMGX, VWELX
Conservative-allocation TRRIX, VTINX, VSCGX, VWINX
…
Bond volatility ^MOVE (153.61) is now quite high. This may be a warning of some credit-event or financial storm - in the US or globally.
On the other hand, high ^VIX (32.26) and low/reasonable ^SKEW (120.01) is an interesting setup that is more lik…
The SP500 also fell below its mid-June low today, 9/26/22. The DJIA and DJ Transports did that last week, but new today was that DJIA was also in the bear market with -21% decline from January high (1st time in 2022). The Nasdaq Comp and small-cap R…
There may be some large CG distributions by mutual funds/OEFs this year. Some ETFs can have those too. There is a current article on this in the current Barron's by @LewisBraham.
https://www.barrons.com/articles/capital-gains-taxes-mutual-funds-down…
FXB is an ETF. It holds UK pounds and doesn't seem to be futures-based. ETFs are not insured (whether for stocks, bonds, currency). But it would have liquidation value.
ETNs don't hold anything but are just the IOUs of the sponsor.
https://connect…
@Sven, I got the gist of what you are trying to say. But the problem now is that stocks and bonds have high correlation. It used to be that only stocks and HY had high correlation.
https://twitter.com/charliebilello/status/1573684964465549315?t=v0rN…
This has been a very difficult environment for the bond market. It is being called a bond crash and one has to go back to 1931 or 1949 to find similar times for bonds (see image link below from Twitter Link1). While equities are also suffering, ther…
A critical mid-JUNE LOW-TEST day today, 9/23/22. Transports are already below, DJIA is so at the open, watch the other indexes in this live chart.
https://stockcharts.com/h-perf/ui?s=$SPX&compare=$COMPQ,$INDU,$TRAN,IWM&id=p57120171090
Both …
A critical mid-JUNE LOW-TEST day today, 9/23/22. Transports are already below, DJIA is so at the open, watch the other indexes in this live chart.
https://stockcharts.com/h-perf/ui?s=$SPX&compare=$COMPQ,$INDU,$TRAN,IWM&id=p57120171090
Note the new tone in these new SEC settlements under Gensler. This may be 3rd or 4th where the settlement announcements includes admission of guilt by parties, or clear finger pointing by the SEC. This is different from the past practice of just set…
Good Q&A.
Portfolio being down in itself is not a ground for lawsuit.
Most brokerage account contracts require arbitration.
Brokers have safe-harbor protections if they follow KYC, Reg BI and fiduciary rules.
I already mentioned that the Survey was the most negative since 3/5/2009 (memorable SP500 at 666 on 3/9/09). Also this week was among the 5 worst sentiments since the Survey inception in 1987.
Being a contrarian indicator, the Survey is significan…
While the debate continues on whether the mid-June lows would hold for major indexes, the Transportation index today was below, and the DJIA barely above. Strange that more volatile Nasdaq Comp and SC R2000 are comfortably above.
So, if the future…
This happens when you sold some stock/ETF but the cash isn't available until T+2. The position screen may show the credit immediately but the amount isn't really available yet (and in your case, on the morning of the day of T-Bill auction).
A foolp…
