Here's the wire story. LSST. You can just look at the URL, though the text says more.
https://www.businesswire.com/news/home/20240912751874/en/Natixis-Investment-Managers-to-Close-the-Natixis-Loomis-Sayles-Short-Duration-Income-ETF-NYSE-LSST

https://www.sec.gov/Archives/edgar/data/1526787/000119312524217981/0001193125-24-217981-index.htm
LSST is the symbol.

TCW MetWest AlphaTrak 500 Fund (M class)
This fund served as a competitor to PSTKX while being slightly cheaper and performing slightly better. It even bested VFIAX over the past decade by a hair, though hugely tax inefficient. But unlike PSTKX ($2.6B AUM) it didn't get much love ($30M AUM).

Portfolio Visualizer comparison
Both this fund and PSTKX go to show that building a better mousetrap with derivatives is relatively costly, often tax-inefficient, and at the end of the day doesn't come out any better than old, boring vanilla.

There are two different figures here, and they may be getting mixed up.
One is interest rate (not yield) assuming daily compounding. The other is total annual return. The former is indeed lower than the stated rate of a T-bill, though the latter is higher than the T-bill's stated rate.
Consider bank accounts at two banks. One bank compounds interest monthly, one compounds daily. For simplicity I'll work with 30 day months and 360 day years. It doesn't change the reasoning, it just makes the numbers easier to follow.
The monthly one says that it has an APR (not compounded yield) of 6%. Each month, it pays 1/2% interest. Its APY (compounding 12 times) is 6.17%.
The daily one says that it has an APR of 5.9855%. Each day, it pays 0.001663% (1/360th of the APR). With daily compounding that comes out to 1/2% each month and an APY of 6.17%. Same as the other bank.
Now instead of bank accounts, think of a T-bill with a one month maturity. (It's hypothetical, real T-bills mature in 4 weeks.) Let's say that like these banks, at maturity (in one month) you get back 1/2% more than you invested.
The stated yield on the T-bill would be 1/2% annualized, i.e. 12 x 1/2% = 6%. Assuming you reinvest each month in a T-bill with the same terms, you'd have 6.17% more than you started with at the end of the year because of monthly compounding. That's higher than the stated yield.
But if we hypothesize that the T-bill is actually compounding on a daily basis for a month, then it would be like the bank that compounds daily. Its daily APR would be 5.9855%. That's lower than the stated yield of 6% and lower still than the 6.17% you would get by reinvesting these T-bills for a year.
This is how one can come up with both a lower rate (assuming daily compounding) and a higher total return (by reinvesting over the course of a year) than the stated rate of a T-bill.

https://www.sec.gov/Archives/edgar/data/1526787/000119312524217981/d863235d497.htm
497 1 d863235d497.htm NATIXIS ETF TRUST - 497
Supplement dated September 12, 2024 to the Natixis Loomis Sayles Short Duration Income ETF’s Summary Prospectus, Prospectus and Statement of Additional Information, each dated May 1, 2024, as may be revised or supplemented from time to time.
Natixis Loomis Sayles Short Duration Income ETF
On September 12, 2024, the Board of Trustees of Natixis ETF Trust (the “Trust”), on behalf of the Natixis Loomis Sayles Short Duration Income ETF (the “Fund”), upon the recommendation of the Fund’s adviser, Natixis Advisors, LLC (“Natixis Advisors”) approved a Plan of Liquidation for the Fund pursuant to which the Fund will be liquidated (the “Liquidation”) on or about September 30, 2024 (“Liquidation Date”). Any shares of the Fund outstanding on the Liquidation Date will be automatically redeemed on that date.
Effective at the close of business on September 16, 2024, the Fund will no longer accept orders for the purchase of Creation Units. It is expected that September 25, 2024 will be the Fund’s last full day of trading on NYSE Arca, Inc. (“NYSE Arca”). Pursuant to this schedule, NYSE Arca is expected to halt trading in shares of the Fund after the market close on September 25, 2024.
Beginning when the Fund commences liquidation of its portfolio (expected on or around September 13, 2024), the Fund may not pursue its investment objective or engage in normal business activities, except for the purposes of winding up its business and affairs, preserving the value of its assets, paying its liabilities, and distributing its remaining assets to shareholders. During the time between market close on September 25, 2024 and the Liquidation Date, because the Fund’s shares will not be traded on NYSE Arca, there can be no assurance that there will be a market for the purchase or sale of the Fund’s shares.
In connection with the Liquidation, any shares of the Fund outstanding on the Liquidation Date will be automatically redeemed as of the close of business on the Liquidation Date. The proceeds of any such redemption will be equal to the net asset value of such shares after the Fund has paid or provided for all of its charges, taxes, expenses and liabilities, including certain operational costs of liquidating the Fund. The distribution to shareholders of these liquidation proceeds will occur as soon as practicable, and will be made to all Fund shareholders at the time of the Liquidation. Additionally, the Fund may declare and distribute to shareholders any realized capital gains and all net investment income no later than or in connection with the final Liquidation distribution. Natixis Advisors, investment manager to the Fund, may or may not, depending on the circumstances, distribute substantially all of the Fund’s net investment income and any net realized capital gains prior to the date of Liquidation.
Shareholders of the Fund may sell their shares of the Fund on NYSE Arca until the market close on September 25, 2024, and may incur customary transaction fees from their broker-dealer. Prior to the Liquidation Date, Authorized Participants may continue to submit orders to the Fund for the redemption of Creation Units. See “Buying and Selling Shares” in the Prospectus.
Although the Liquidation is not expected to be a taxable event for the Fund, for taxable shareholders, the automatic redemption of shares of the Fund on the Liquidation Date will generally be treated as a sale that may result in a gain or loss for federal income tax purposes. Instead of waiting until the Liquidation Date, a shareholder may voluntarily sell his or her shares on NYSE Arca until the market close on September 25, 2024, and Authorized Participants may voluntarily redeem Creation Units prior to the Liquidation Date, to the extent that the shareholder wishes to realize any such gains or losses prior thereto. See “Taxation” in the Prospectus. Shareholders should consult their tax advisers regarding the tax treatment of the Liquidation.

https://www.sec.gov/Archives/edgar/data/1028621/000182912624006250/tcwmetro_497.htm
497 1 tcwmetro_497.htm 497
TCW METROPOLITAN WEST FUNDS
TCW MetWest Corporate Bond Fund (the “Fund”)
(I Share: MWCBX; M Share: MWCSX)
Supplement dated September 12, 2024 to the Prospectus and
the Summary Prospectus, each dated July 29, 2024, as supplemented
This supplement provides new and additional information beyond that contained in the Prospectus and the Summary Prospectus and any previous supplements. It should be retained and read in conjunction with the Prospectus and the Summary Prospectus and any previous supplements.
On September 9, 2024, the Board of Trustees of the Fund, having determined that a reorganization of the Fund would be in the best interest of the Fund and its shareholders, voted to approve a form of Agreement and Plan of Reorganization (the “Plan”) to reorganize the Fund with and into TCW Corporate Bond ETF, a newly-created exchange-traded fund (“ETF”) (the “Acquiring Fund”), which will be a series of TCW ETF Trust (the “Reorganization”). Accordingly, the Fund will stop accepting purchase orders for Class M shares of the Fund prior to the Reorganization on or about October 28, 2024. In accordance with the Plan, Class M shares of the Fund will be converted into Class I shares of the Fund prior to the Reorganization on or about November 4, 2024.
Pursuant to applicable law (including the Investment Company Act of 1940) the Reorganization may be implemented without shareholder approval. The Reorganization is expected to occur in the fourth quarter of 2024 and is expected to be a tax-free reorganization for U.S. federal income tax purposes. Additional information about the Reorganization will be made available to shareholders in a combined information statement/prospectus prior to the Reorganization date.
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of the Acquiring Fund, nor is it a solicitation of any proxy. Because the Fund is expected to reorganize into the Acquiring Fund on its reorganization date, you should consider the appropriateness of making a new or subsequent investment in the Fund prior to its reorganization date. You should consider the investment objectives, risks, strategies, fees and expenses of the Acquiring Fund and/or the Fund carefully before investing.
Prior to the Reorganization date, a combined information statement/prospectus will be included in a registration statement on Form N-14 that will be filed with the U.S. Securities and Exchange Commission (the “SEC”). After the registration statement is filed with the SEC, it may be amended or withdrawn and the combined information statement/prospectus will not be distributed to shareholders unless and until the registration statement becomes effective. Investors are urged to read the materials and any other relevant documents when they become available because they will contain important information about the Reorganization. After the materials are filed, free copies of the materials will be available on the SEC’s web site at www.sec.gov. These materials also will be available at https://www.tcw.com and a paper copy can be obtained at no charge by calling 1-877-829-4768.
Shareholders should retain this Supplement for future reference.

AMG TimesSquare Global Small Cap Fund
https://www.sec.gov/Archives/edgar/data/1089951/000119312524218099/d854878d497.htm
AMG TimesSquare Emerging Markets Small Cap Fund
https://www.sec.gov/Archives/edgar/data/1089951/000119312524218098/d866318d497.htm

TCW Enhanced Commodity Strategy Fund
https://www.sec.gov/Archives/edgar/data/892071/000119312524218100/d864384d497.htm
TCW MetWest AlphaTrak 500 Fund (M class)
https://www.sec.gov/Archives/edgar/data/1028621/000119312524218115/d861738d497.htm
TCW Short Term Bond Fund (I class)
https://www.sec.gov/Archives/edgar/data/892071/000119312524218109/d868523d497.htm

1 yr Treasuries down to 4%. A bit faster than I expected. Bond yields want Fed to go 50 bps on Wednesday. Should we expect a violent reaction to a 25 bps FF rate cut?

More sinking:
"According to Barron’s calculations, if Trump Media’s share price falls below $13 a share, Trump’s paper gains since his company’s merger with the special purpose acquisition company Digital World Acquisition Corp. rapidly vanish. That’s because as the share price declines, the value of Trump’s 114,750,000 shares also drops. A share price of $12.88 would send the value of his shares below the $1.478 billion private valuation of his stake in Trump Media as of Dec. 15, 2023.
As of Thursday’s close, Trump’s stake was valued around $1.8 billion, down from more than $5.7 billion on March 26, when the merger took place."
Barrons Article today.
With apologies because I cannot find a non-paywalled link.

"The corporate tax rate changes introduced by the Tax Cuts and Jobs Act (TCJA) have different expiration dates:
Main corporate tax rate:
The TCJA lowered the main corporate tax rate from 35% to 21%. This change is permanent and does not have a set expiration date. It will remain in effect unless new legislation is passed to change it.
Full expensing of capital investments:
The TCJA allowed for 100% bonus depreciation (full and immediate expensing) of certain capital investments. This provision began phasing out in 2023 and is set to fully expire after 2026, unless extended by new legislation.
Interest expense limitations:
The TCJA introduced new limitations on the deductibility of business interest expenses. These rules are permanent, but some specific provisions have different phase-in periods.
International tax provisions:
Many of the international tax provisions introduced by the TCJA, such as the Global Intangible Low-Taxed Income (GILTI) rules, are permanent.
It's important to note that while the main corporate tax rate change is permanent, many other business-related provisions of the TCJA are set to expire or change after 2025.
As always with tax law, there's the possibility of new legislation being introduced that could alter these expiration dates or make other changes to the corporate tax structure."
[Bold Added]
The above commentary is from Claude and is consistent with my recollection of the current tax laws and as such at this time I am good with my first question.

@yogibearbull,
"2017 TCJA is good until 12/31/25. That means that not much will change for individual or corporate tax rates for the tax filing years 2025 and 2026. But things would change after 2 tax filing years."
Congress can change existing laws, notwithstanding the effective date of the those laws.
Below are some answers from Claude -
"The Tax Cuts and Jobs Act (TCJA) of 2017 did not significantly change the individual long-term capital gains tax rates. Here's an overview of what remained the same and what minor adjustments were made:
Basic rate structure:
The TCJA maintained the same three-tier rate structure for long-term capital gains that existed before the law:
0%
15%
20%
Income thresholds:
The income thresholds at which these rates apply were kept, but they are now indexed to inflation using a different measure (chained CPI) which generally results in slower increases over time.
Additional Net Investment Income Tax:
The TCJA did not change the additional 3.8% Net Investment Income Tax that applies to individuals with income above certain thresholds.
Collectibles and certain small business stock:
The 28% maximum rate on long-term capital gains from collectibles and certain small business stock was maintained.
Unrecaptured Section 1250 gain:
The 25% maximum rate on unrecaptured Section 1250 gain (related to depreciation on real estate) was also kept in place.
Holding period:
The one-year holding period to qualify for long-term capital gains treatment remained unchanged.
While the TCJA made significant changes to many areas of the tax code, the treatment of individual long-term capital gains remained largely the same. The most notable impact on capital gains taxation was indirect, through changes to ordinary income tax rates and brackets, which can affect the overall tax situation of investors."

A federal Judge ruled against CFTC saying that election betting is neither gambling nor illegal activity - because elections are neither.
Interactive Brokers/IBKR is ready to go on Monday, 9/16/24. Who else?
Edit/Add. Source cited is WSJ behind the paywall. X/Twitter LINK.
https://www.investing.com/news/stock-market-news/us-judge-allows-election-betting-dealing-blow-to-markets-regulator-3614495
https://www.forexlive.com/news/interactive-brokers-will-launch-us-election-betting-next-week-20240912/

2017 TCJA is good until 12/31/25. That means that not much will change for individual or corporate tax rates for the tax filing years 2025 and 2026. But things would change after 2 tax filing years.

Assuming there is a grid lock in the new Congress next year (House controlled by Democrats and Senate controlled by Republicans), from what I understand the subject tax rates should remain unchanged in 2025 as well. Is my understanding correct?
On the off chance, Democrats continue to hold the Senate majority (assume razor thin majority) (and assume Democrats return to controlling the House), how do you anticipate the subject tax rates to change?
Edit: Added "LT" in the title to eliminate needless discussion about LT vs ST
Thanks

Dropping 2% or so (from 5.375% to 3.375% +/-).

Hi guys,
Opened a new position in Man U yesterday at $15.50. So will see how it goes.
God bless
the Pudd

APY - annual percentage yield - the percentage increase in an investment value including reinvestments after holding one year.
This is a standard figure that is supposed to make comparing products easy.
It is simple enough for bank accounts. They calculate it for you based on the rate (APR) and frequency of compounding (daily, monthly). But it is not so simple for MMFs or T-bills. Rather than calculate compounded yield over a year as a bank does, the figures you see with MMFs and T-bills use simple interest to annualize.
The MMF 7 day SEC yield is just a daily yield multiplied by 365 (or 366), i.e. simple interest.
For a MMF, to get the effective annual yield (APY), the formula is:
APY = (1 + 7 day SEC yield/365) ^ 365 - 1 (use 366 as needed)
Fidelity shows the effective yields for its MMFs on the funds' "performance and risk" page.
The annualized yield quoted for a T-bill is just the total return of the T-bill to maturity multiplied out to a year (simple interest). For example, with an 8 week T-bill (56 days), the total return of the T-bill is multiplied out by 365/56.
To compound interest, we reinvest the T-bill (including interest) at maturity, repeating until we've covered a whole year. That might result in a fractional number of reinvestments. For example, an 8 week (56 day) T-bill would get invested a total of 365/56 times, or roughly 6.5 times. No matter, the formula handles this.
T-bill total return = ($100 - purchase price)/ purchase price
APY = ((1 + T-bill total return)/T-bill days) ^ (365/T-bill days) - 1
Consider this 8 week (56 day) T-bill. Purchase price was $99.216.
T-bill rate = ($100 - $99.216)/ $99.216 = 0.7901951%
APY = (1 + 0.7901951) ^ (365/56) - 1 = 5.264%
The stated annualized yield (using simple interest) is 5.150378%.
A bank account with an APY of 5.0% looks better than SPAXX (current 7 day yield 4.94%), but SPAXX returns more (5.06%) with compounding. Similarly, between a T-bill and a bank account with the same rate, the T-bill is better. Its quoted rate doesn't include the effect of compounding.

Tax-Loss Harvesting (TLH), 2024
It’s never too late to plan for TLH. But some critical dates are approaching.
Funds are allowed to close their books for the year in OCTOBER so that they can timely announce yearend distributions in November/December for fund investors to plan. But some funds still follow the old practice of closing the books in December, but then their distributions may be in the next year (2025) with taxes due in the current year (2024).
Retail investors often wait until DECEMBER for TLH. The market has regular hours on the last day of trading & that is Tuesday, 12/31/24.
The last day to DOUBLE-UP & sell the older lot by the yearend is Friday, 11/29/24 (early market close at 1 PM ET) in order to avoid wash-sale. With commission-free trading, this practice is less popular now. It is easily possible to sell & simultaneously buy something SIMILAR BUT NOT IDENTICAL.
With TLH spread out in October & December, the related JANUARY EFFECT (in 2025) for losing stocks in 2024 will also be weak.

Robert Frost might be impressed to know his simple 20-line poem has prompted someone to write a 1000 + word explanation. This poem’s never been a favorite of mine. But I hold his longer “The Death of the Hired Man" in high regard. With all due respect to Frost, I think Poe was the better poet.
“And the stars never rise, but I feel the bright eyes Of the beautiful Annabel Lee …”