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@hank, at the bottom of M* emails, there are clicks to Unsubscribe and Update email preferences (it will show all current subscriptions and you can cancel one or all). I looked for ways to get to these tabs from M* Homepage or Account info, but coul…
@Mona, in 2023, USFR income was 99.9868% from US Government obligations (FRNs), and that was exempt from state taxes. The small nonexempt remainder was probably due to operational cash.
FZROX is a total STOCK market fund with zero ER. Fido makes money from securities lending and lower index fees from a former subsidiary. Despite its ticker, it isn't related to Treasury Zeros.
Yes, think of Zeros like brokered CDs and ignore their interim volatility. But Treasury Zeros are much more liquid than CDs, in case you have to liquidate the ladder early. With CD ladder, you may get a haircut for early liquidation.
Check out Fido'…
@hank, it's easy to setup, say, a DIY 5-yr Treasury Zeros-ladder. It will have a duration of approximately 2.5 years, comparable to a short-term bond fund.
For Zeros, duration = maturity, so a 30-yr Zero will have huge volatility.
@hank, these are target-maturity bond ETFs and mentioned were BSCP, IBTE, IBHF. These do have regular distributions. Within the last few months of termination date, their portfolio progressively turns into cash. But maturity price cannot be predicte…
I used ICSH for years. USFR was a recent addition. Different approaches to ultra-ST bond funds. On my watch list is JPST if I want another. I never warmed up to MINT.
These are genuine inv-grade funds. I don't use ST-HY for this purpose, but have IT…
I don't know if these Flow-tools can indicate data frequency from the data source. The line-plots are shown as continuous, sometimes with lines connecting the discrete points - an acceptable practice - so it can be confusing.
Also be sure to update…
FLOW tool is very interesting in that it shows how AUM, fund flows & TR are related (or not).
Asset and flows data are monthly for mutual funds/OEFs, daily for ETFs.
But in checking some TIAA/CREF VAs (QREARX, QCSTIX, etc), daily data are sho…
@rforno, new M* Investors (subscription) does have downloadable 1- or 2- page PDFs. Here is a sample for FMSDX that I uploaded to PDF Host and linked below for demonstration. More can get me into trouble. In the old days, these PDFs were free at M*,…
@Observant1, free Instant X-Ray is gone. But X-Ray still exists within the old M* Portfolio (Premium) and the new M* Investor (subscription).
Some of the reported problems may be just due to the old M* Portfolio Premium subscription expiring and ne…
Simple reason is that brokers' NTF platforms have fees in 25-50 bps range. Small firms without their own distribution units have no choice but to pay those. Even larger firms like Pimco, American Funs/Capital Group, etc pay those NTF platform fees f…
A great source of info on I-Bonds and TIPS is @TipsWatch (David Enna) at X/Twitter. LINK
From 4/10/24, https://tipswatch.com/tracking-inflation-and-i-bonds/
There is hardly any info on this new ETF WZRD at ETFdb, Yahoo Finance and M*. So, see my previous post for link to the ETF website with its own pitch, Prospectus & SAI.
ETFs are hot, so many people and firms are rushing to offer high ER ETFs instead of, say, more appropriate interval-funds for their strategies.
https://opportunistictraderetf.com/
Fido has a less volatile real estate hybrid FRIFX (RE equity & fixed income) in addition to all-equity FRESX. Rising rates have hit RE. Benchmark is ETF VNQ.
A new complaint about naked-short-selling filed by DJT.
"Reports indicate that, as of April 3, 2024, DJT was “by far” “the most expensive U.S. stock to short,” meaning that brokers have a significant financial incentive to lend non-existent shares.…
DJT has filed instructions on how to prevent shorting of the stock.
2 steps are common and typical - move stock to the cash side (from the margin side), discontinue securities lending program.
2 other steps mentioned may have fees - moving stock t…
At Vanguard, reinvestment isn't available for some ETFs. I suspect that it may have to do with liquidity as VG reinvestment program is VG (broker)-sponsored. VG accumulates all reinvestment orders and executes a market order soon after the payout da…
M-mkt regulations are quite tough now. Look around, there are hardly any small m-mkt funds - they have been merged or liquidated. It was unheard of just few years ago for firms to offer m-mkt funds from other firms, but now, some even offer a menu o…
There was indeed confusion in early-2021 and there were revised versions of IRS Publication 590-B. See the contemporaneous discussion at another site. So, it wasn't just the matter of carefully reading the regulations.
https://big-bang-investors.pro…
Unfortunately Move isn't accurate and can't tell you when to get out in a timely manner and why I don't look at it.
Link
Your link provided doesn't even mention MOVE, so it's unclear what you tested and why it "isn't accurate"?
Every data point d…
Ratio $MOVE:$VIX indicates relative bond (Treasury) & stock (SP500) volatilities. Ratio trend line has been rising (200-dMA 7.76) with wide swings around the trend line. Chart is for 3 yrs.
https://stockcharts.com/h-sc/ui?s=$MOVE&p=D&…
$MOVE is now recognized by StockCharts, but its history is from 03/2021 only; Yahoo finance has recognized ^MOVE for quite a while and has a longer history.
https://stockcharts.com/h-sc/ui?s=$MOVE&p=D&yr=1&mn=0&dy=0&a…
Interesting that Jamie Dimon's concerns have been quoted widely, but his wide rate range of 2-8% is skipped in these quotes. All he may be trying to say that as the largest bank in the US (TBTF, SIFI, etc; also largest globally by market-cap but not…
DJT secondary filed for 146,108,680 shares of common stock and 4,061,251 Warrants (exercisable at $11.50; STRANGE, as options/warrants typically have exercise prices ABOVE the current prices).
https://www.sec.gov/ix?doc=/Archives/edgar/data/00018496…
It's about oil that had runup already to WTI $85 and Brent $90. But it didn't move much after that. Similar for gold. Only cryptos showed real-time moves (at one point, Bitcoin -8%, digital-gold +32%) when none of the markets were trading, but those…
There is not much that trades over the weekend. VIX was to be trading 24/7 somewhere in the world, but it isn't there. Even gold trading takes a short break over the weekend.
But, cryptos trade all the time. So, looking at it over the last 12 hours…
There was some sort of breakdown in a major feed for PRWCX.
Prices were posted correctly YESTERDAY at Rowe Price and M* websites. But they are still stale at many places now on Saturday.
Yahoo is totally messed up - it shows stale price on the Su…
Fund NAVs are different for various classes, and for the ETF classes in case of Vanguard. Fund prices are set by the number of units outstanding for the respective classes. They all have the same underlying portfolios.
@hank, that is stale quote for PRWCX from yesterday. Many sites are still showing stale info from 4/11/24 (Yahoo Finance, MarketWatch, etc). Probably will fix in the next update of the evening.
But Price website, M*, etc are showing the correct inf…
