Market Commentary


Tax Bill & Shrinkage Tantrum

Author: David R. Kotok, Post Date: December 2, 2017
Cumberland Advisors Market Commentary by David Kotok

The Congressional Budget Office (CBO) scoring of the tax bill was released at 8:49 PM on Friday night, and this link will take you to it: The title of this one-page document is a mouthful: “Summary of the Deficit Effects of a Bill to Provide for Reconciliation Pursuant to the Concurrent Resolution on the […]

Marvin Goodfriend: What You Get

Author: Robert Eisenbeis, Ph.D., Post Date: December 1, 2017
Cumberland Advisors Market Commentary by Robert Eisenbeis, Ph.D.

Marvin Goodfriend’s nomination represents what will be a welcomed and outstanding addition to a depleted Board of Governors of the Federal Reserve System.[1] He brings a lot to the table. First, he is a first-rate economist with a truly international reputation. He has held visiting, consulting, and evaluative positions at numerous central banks and international […]

Richard Yamarone

Author: David R. Kotok, Post Date: November 30, 2017

By now many know that Richard Yamarone passed away on November 28th, 2017 at age 55. There are many of us who enjoyed his company in Montana and in Maine as part of annual gatherings of fishing, discussions, and camaraderie. We mourn his loss. I can picture in my mind when he picked up the […]

Merkel Matters

Author: Bill Witherell, Ph.D., Post Date: November 29, 2017
Cumberland Advisors Market Commentary - Bill Witherell, Ph.D.

German Chancellor Angela Merkel faced a crisis when coalition talks broke down on November 19th. Germany could have endured months of political uncertainty, and it suddenly became possible that Merkel would be forced to resign. The German public and the world awoke to find that the continuation of Germany’s solid, centrist government was threatened. Germany’s […]

Fed, Bonds & Interest Rates

Author: David R. Kotok, Post Date: November 27, 2017
Cumberland Advisors Market Commentary by David Kotok

Ben White had this to say about Fed appointments last week in his Politico “Morning Money” column: “FED TALK – Look for the vice chair nomination to come fairly soon. Mohamed El-Erian remains in the mix but could also be a candidate for the New York Fed. John Taylor sounds like a no-go for vice […]

Chair Yellen Resigns

Author: Robert Eisenbeis, Ph.D., Post Date: November 24, 2017
Cumberland Advisors Market Commentary by Robert Eisenbeis, Ph.D.

To no one’s surprise, Chair Yellen has announced her intention to resign effective upon the swearing in of her successor, Jerome Powell. Since Governor Powell’s confirmation hearing is set for November 28 of this year, it is possible for him to be confirmed and sworn in before the January 30–31, 2018, initial FOMC meeting, meaning […]

Thanksgiving and Mythology

Author: David R. Kotok, Post Date: November 22, 2017
Thanksgiving 2017

Our American mythology of Thanksgiving is imparted to us as schoolchildren, or at least it used to be. The Pilgrims had voyaged to North America on the Mayflower to escape persecution and had been in Plymouth, Massachusetts, less than a year. They were hungry. A cold winter was setting in, and they lacked food. The […]

Tech Sector: Bubble or Not?

Author: David R. Kotok, Post Date: November 20, 2017
Cumberland Advisors Market Commentary by David Kotok

Seventeen and a half years ago, on April 1, 2000, we published a piece entitled “Will the NASDAQ sell-off become a crash?” We have now retrieved that piece from our archives and posted it on our website. Here is the link to the original piece: In preparing that piece in 1999–2000, we evaluated the […]

Puerto Rico and Recurring Hurricanes

Author: John R. Mousseau, CFA and Alex J. Pollock, Post Date: November 17, 2017
Cumberland Advisors Market Commentary - Hurricanes & Puerto Rico

Last Monday, November 6th, I was privileged to serve on a panel discussion at the American Enterprise Institute in Washington DC, where the topic was Puerto Rico after Hurricane Maria. The discussion covered a wide range in topics that included the damage to Puerto Rico as well as issues of finance, law, and markets.   The […]

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