Tag Archives: Municipal Bonds

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Is the Municipal Bond Market Sleepy?! Pension Doomsday?

Author: Patricia Healy, CFA, Post Date: November 19, 2018
Market Commentary - Cumberland Advisors - Is the Municipal Bond Market Sleepy - Pension Doomsday

Today’s municipal bond market is anything but “sleepy,” as Spencer Jakab characterized it in his Wall Street Journal article “Prophet of Muni Market Doom Wasn’t Wrong, Just Early” (10/26/2018). The Prophet of Doom he referred to was Meredith Whitney, who shortly before the financial crisis successfully predicted the damage to Citibank by bad mortgages. In […]

California, Land of Natural Disasters?

Author: Patricia Healy, CFA, Post Date: November 13, 2018
Market Commentary - Cumberland Advisors - California, Land of Natural Disasters

Last week we conducted a review of our California municipal bond holdings along the San Andreas Fault looking for holdings that may be more susceptible to credit deterioration in the event of a disaster. At the time, little did we know that wildfires would engulf large swaths of California. First, our hearts and prayers go […]

Investors speculate on return of crisis-era Build America infrastructure bonds under split Congress

Author: , Post Date: November 9, 2018
Cumberland Advisors John Mousseau

Investors speculate on return of crisis-era Build America infrastructure bonds under split Congress This infrastructure-bond structure, backed by federal subsidies, could face uphill battle in Congress. With Democrats sweeping into the House in the midterm elections, analysts are touting the potential comeback of crisis-era municipal bonds as part of a broader infrastructure bill. Talk of […]

Midterm Elections – The Quick Muni Note

Author: John R. Mousseau, CFA, Post Date: November 7, 2018
Market Commentary - Cumberland Advisors - Midterm Elections – The Quick Muni Note

Here’s our first take after the midterm elections. The polls actually got it right, with the Democrats taking the House of Representatives and the Republicans enjoying a slight pickup in the Senate. Divided government, with different parties in control of the House and Senate, has sometimes led to gridlock.  It also tends to keep spurious […]

Hurricane Michael and Bond Portfolio Management

Author: Patricia Healy, CFA, Post Date: October 17, 2018
Cumberland Advisors Market Commentary

The devastation from Michael in terms of lives and property damage is still being assessed. Our hearts go out to those affected. We have written (http://www.cumber.com/wildfires-abound/) about the general uptick in economic activity in a municipality after a storm or other natural disaster and the resulting maintenance of credit ratings. However, there could be a period […]