Closed Board Meeting on October 3, 2022
Government in the Sunshine Meeting Notice
Advanced Notice of a Meeting under Expedited Procedures
It is anticipated that the closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, October 3, 2022, will be held under expedited procedures, as set forth in section 261b.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board’s offices at 20th and C Streets, N.W., Washington, D.C. and by audio/video conference call. The following items of official Board business are tentatively scheduled to be considered at that meeting.
Meeting Date: Monday, October 3, 2022
Matter(s) to be Considered:

The question on AKREX is a good one. A great fund for it's 1st 10 years with Aker managing. Hasn't been great since Chuck gave up the lead. Maybe this fact is coincidental but it certainly is something to point to. I have owned it for a while, but I am considering a dollar for dollar switch to something else.

I for one would be sorely tempted by guaranteed 5% returns. I once new someone who told me that during the Volcker era she bought very long term fixed income securities of some kind (CDs? Treasurys?) that paid a double-digit rate of interest and enjoyed that for many years, when all other returns were paltry.

I'm thinking to invest in longer-term CDs over the next quarter or two, but keep some cash aside (20%?) in Money Market Funds in case the Stock market really tanks. Or maybe go 100% CDs and take the early withdrawal penalty if need be.
Saw some Morgan Stanley 4.8% 10 year CDs at Fido today, though they are callable. Over 5% is soon to come.

The X shares are available exclusively via eligible defined contribution plans.
Go to the Dodge & Cox "funds at a glance" web page and click on the drop-down arrow for share classes.
The following info is listed for X shares: Class X (Defined Contribution Plans Only).
My 401(k) plan replaced DODIX with DOXIX on July 1.

Terrible last 9- 12 months

It is to be expected when both stocks and bonds are down simultaneously this year. The only bright spot among the TSP funds is the G fund which is a stable value fund and having a positive gain.

This was a surprise to me. Baron Funds made spillback distributions on 9/27. I thought I needed to worry only about tax year 2022, but 2021 is still taking a bite out of me. Here’s Baron’s explanation:
“Spillback distributions are distributions of ordinary and/or capital gains from the previous fiscal year that were not distributed by the end of that year. Spillback distributions must be declared within 9½ months (the fund’s extended tax return due date) of the end of the fund’s fiscal year. The extended tax return due dates are July 15th and October 15th for the September 30th and December 31st fiscal year end funds, respectively. Even though they represent ordinary income and/or capital gains earned by the fund in the previous fiscal year, they are taxable in the year in which they are paid.”
I was thinking I had plenty of time to sell BWBFX before distributions, but I was asleep at my iPad. Now I wonder what Baron will do for tax year 2022. Feeling like taxes fall on the middle class and me especially. Does baying at the moon do any good?

My jesting a few days ago (in response to @Derf’s question) about heaving the ship’s deck furniture and than lifeboats into the boiler to keep the ship sailing had a practical intent - possibly overlooked. The point was - as an investor’s ready cash on hand to add to riskier assets dwindles, the eventual last resort is to cannibalize other assets which are down less, selling them to buy riskier assets. Might be bond funds, allocation funds, long-short funds, an energy stock - anything thar’s still above water or has fallen less. Should the downturn last for many years, one might end up 100% weighted all in the growthiest stocks. This is not advice. It may not even make sense to most. A similar path worked for me in the ‘07-‘09 period. That was, however, by historical standards a somewhat short bear market. And, personally speaking, my time horizon was considerably longer then than it is today.

It's OK for now. Twitter LINK

This is just conceptual and largely off the top of my head, so take it for what it's worth. Also, I'm discussing taxable bonds with (original) maturities of more than one year that are not zeros. So this excludes T-bills and STRIPS. In addition, T-bills are non-covered, so unlike other bounds purchased since 2014, their purchase price may not be reported to the IRS.
OID accretes (it is gradually added to the "natural" price of a bond). This portion of "appreciation" is treated as interest. (Think of a zero; all of the interest is reflected in the increase in price of the bond over time). Since this OID interest comes from the original issuer, here the Treasury, it is taxed the same way as if that interest had been part of the coupon. IOW, state tax exempt, federally taxable.
Market premium or discount is relative to the OID-adjusted price. You will likely sell at a higher or lower discount (or premium) than you got at time of purchase. For example, you might buy bonds with a total discount of $50, but sell them with no discount. This "gain" of $50 is treated differently depending on the YTW at which you bought the bond.
If you bought that bond with the expectation (i.e. YTW) that you would get $30 more at sale (instead of the $50 you got), then $30 is treated as ordinary (not Treasury) interest. After all, you purchased the bond for that yield. Now you lucked out, rates dropped, and you got some extra (market) appreciation. That extra appreciation is taxed (fed and state) as a cap gain.
There's a de minimis rule: if the amount of market gain (i.e. excluding OID adjustments) is less than 0.25% x number of years you hold the bond, then the entire accretion (gain) is treated as a cap gain.
What if you bought a bond at a premium and sell it for less, or what if you even bought it at a discount but sold it at a bigger discount? That loss is used to reduce the amount of interest you receive. If you purchased a bond with a 3% coupon, but with a 2% premium, then you're effectively netting 1% in interest. This is reflected in how the bond is taxed.
I'm almost positive I've gotten something not exactly right here. Just trying to sketch the broad outlines.
There are some elections - basically how accretion is calculated (there are multiple methods) and whether one chooses to declare income annually or upon sale.
See Pub 550 generally. And look for explanatory pieces. The IRS is good at mechanics, not so good on explaining the concepts. I'm sure you can find better stuff than what I jotted down here. I haven't looked at this in depth in several years.

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 for many reasons.
FLTDX in August, then again in September.
VCFAX, TRBUX in September
FARIX in September (your OP)
If tax implications of corrections are "small", they may be ignored, IMO (but what do I know?). Keep in mind that the corrected 1099 do go to the IRS.
https://www.mutualfundobserver.com/discuss/discussion/59922/schwab-issued-corrected-1099-in-august

@catch22
you said..."be patient"
+1

@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 Transports, DJIA, SP500 have breached their lows by small amounts. If things were more normal, the more volatile Nasdaq Comp and R2000 would have been the first to breach their lows but they are quite resistant this time (although their hi-to-lo declines are larger).
One can read this in 2 ways.
First, that low-test may still fail. Then, there is quite a bit of underlying strength in the market.
Second, the last leg of decline is yet to come and that would be when Nasdaq Comp and R2000 are also taken down. Where would that go? SP500 3,500? 3,000?
Reasons can be found to support either scenario.
What is important for me is that I can add some to equities, but I want the above to be resolved one way or the other.

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. Also note that these changes were from both fund inflows/outflows & price changes.
OEFs: Stocks 51.77%, Hybrids 7.09%, Bonds 21.02%, M-Mkt 20.12%
ETFs: Stocks 80.49%, Hybrids 0.53%, Bonds 18.98%, M-Mkt N/A
OEFs & ETFs: Stocks 58.09%, Hybrids 5.65%, Bonds 20.57%, M-Mkt 15.70%
https://ybbpersonalfinance.proboards.com/thread/245/fund-allocations-cumulative-monthly?page=1&scrollTo=791

I haven't investigated the tax ramifications of selling Treasuries in the secondary market.
Except for I Bonds which I've been purchasing for years, I've started buying Treasuries
(13-week / 26-week T-Bills) only recently in May. I buy at auction and will hold to maturity.

+1
What’s in a name? I’m looking at some “conservative allocation” funds that are down over 16% this year.

Thanks. For the rest of us, since I had to look up, for reference, today's close are 10,737.51 and 1,674.93, respectively. Less than 1% and 2%, respectively, above June lows.

For this strange week-long June-low-test to fail, Nasdaq Comp has to close below 10,646 and R2000 below 1,650.

@larryB: +1.

The TSP is what it is. I might, however, point to the L income performance. While most elderly retirees have lost about 15% in most commercial target retirement income funds, retirees in L income have only lost 6%. The G has crept up a bit but doesn't seem to have the superior returns to many commercial vehicles that it once had. (Maybe it was always a myth; I don't know.) The equity funds are what they are - broad indexes. They probably mimic any other commercial offering for the same index fund. Truth be told, when income funds are down 15%, equity dominant funds being down more, even twice as much, isn't a stretch of my imagination. One might admit, however, that, when the G fund is available for ballast, it is a good thing. Many, like myself, are hoping that the recent changes that open the TSP to a commercial window don't drive up expenses for everyone and don't trash the plan entirely. Right now, it is reportedly non-functional. I haven't been able to fix my beneficiary after my husband's death. I don't think; who knows? Nothing is guaranteed updated or accurate. I am worried that RMDs won't come off in December as designed. With the disfunction, the only indicator might be whether you received the check or deposit. It is a mess, a royal, stupid, unnecessary mess with no real end in sight.