January 2019

Allocation Percentages for January 2019
F Fund

0%

C Fund

100%

S Fund

0%

I Fund

0%

Happy New Year! This month has been the most volatile month I have ever seen. Obviously, the level of volatility corresponds to the level of uncertainty in company valuations, the economy, and larger macro-economic variables. With these uncertainties, it is unsettling to have any money in the markets. The Federal Reserve has been raising interest rates to levels we have not seen in a decade, and that is attracting a lot of investors for the safe harbor government bonds provide. So my position for the beginning of 2019 is the same as the last quarter of 2018, I'm still strong on the economy and the stock market. I'm long on the current economy, and while Sears is close to being liquidated, other companies are filling the void, and then some. I am concerned about the larger macro-economy, specifically tariffs and Brexit, and the impact these two events will have on the US economy and stock market. The tariff war is likely to continue for the next few months, if not longer, and this will create daily and monthly fluctuations in the stock market, but I believe, in the long term it will work out in our favor, and I see no need to invest in the F Fund as a protection. Brexit is also likely to continue to cause issues, both with the I Fund and the C Fund. I do not think any of the Brexit impacts are priced into the market at this point so when it is finally resolved, we will likely have a rally in the FTSE as certainty about the UK markets will return. Finally, I think corporate bonds (F Fund) might be riskier as well as many formerly strong companies (GE) are nearing junk status. Keep investing!
           
  

TSP FUND QUOTES

Date L Income L 2025 L 2030 L 2035 L 2040 L 2045 L 2050 L 2055 L 2060 L 2065 L 2070 G Fund F Fund C Fund S Fund I Fund
2025-06-13 27.6479 14.2316 52.9024 15.9824 60.8723 16.7473 36.8940 18.6869 18.6846 18.6821 11.0726 19.1308 20.0012 95.0040 88.2485 48.5492
2025-06-12 27.7407 14.2818 53.2972 16.1137 61.4173 16.9078 37.2703 18.9127 18.9104 18.9080 11.2064 19.1284 20.0748 96.0737 89.7781 49.1157
Daily Change -0.33%-0.35%-0.74%-0.81%-0.89%-0.95%-1.01%-1.19%-1.19%-1.19%-1.19%0.01%-0.37%-1.11%-1.7%-1.15%
Month to Date 0.44%0.46%0.79%0.85%0.91%0.96%1.01%1.18%1.18%1.19%1.19%0.16%0.24%1.17%1.05%1.28%
Year to Date 3.39%3.42%4.87%5.11%5.35%5.54%5.72%6.28%6.28%6.28%6.29%2.01%2.69%2.23%-2.11%15.88%
Details L Income L 2025 L 2030 L 2035 L 2040 L 2045 L 2050 L 2055 L 2060 L 2065 L 2070 G Fund F Fund C Fund S Fund I Fund
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