Since 1973, Cumberland Advisors has been a trusted source for market expertise, personal service, and individual and institutional money management. We are an independent, fee-for-service money management firm managing over $3 billion in assets.
2019 saw bond yields turn around from their climb in 2018 and move lower. Since the Federal Reserve changed their language last December to being accommodative and data-driven, we have seen yields across the board come down a lot. There is no question that this drop in yields was driven, in large part, by what […]
Excerpt from… It’s a wrap: Munis end on a quiet note By Chip Barnett Dec 31, 2019 The municipal bond market finished out the last day of 2019 on a quiet note, with no deals priced and yields ending little changed. Seasonal sluggishness hit the municipal market as participants and investors paused to prepare for […]
The Year 2019 in Bonds recapped by John Mousseau Dec 31, 2019 John R. Mousseau sums up performance for municipal bonds and talks about Cumberland Advisors’ defensive strategy.
Worried About a Bear Market? Bonds Pose More Danger Than Stocks. Excerpt from Barron’s – Nov. 22, 2019 By Randall W. Forsyth Andrew Bary contended that Treasury bonds are now riskier than stocks in this space a few months ago. Moreover, given their low yields, which don’t have much room to fall further, bonds are […]
Excerpt from… IHS Markit’s enhanced Ipreo platform directly connects buy-side to dealers By Lynne Funk Nov 20, 2019 Digital workflow tools in the municipal market are increasing efficiency, freeing up talent to focus on the end client without completing tasks that would take far longer manually. All of these tools flooding the market aim to […]
Excerpt from… Lower tuition rates may mean more downgrades in FY 2020 By Sarah Wynn Nov 18, 2019 Some analysts have decided to stick with highly rated bonds in the higher education sector. “The higher education area, depending on if it’s public or private has seen some declines (in enrollment) over the years, especially in […]
The fires engulfing parts of California are feared to become the nation’s worst fire disaster, possibly surpassing 2017 and 2018 fire events. Spurred on by wind gusts of up to 80 mph, this disaster harkens back to Superstorm Sandy, which occurred seven years ago, in October 2012. Superstorm Sandy soaked the Northeast, and its 80-mph […]
Municipal bond credit quality remains relatively strong, as indications are still that upgrades are outpacing downgrades. S&P and Moody’s have both recently issued comments that corporate credit quality is weakening. Per S&P, credits rated AAA to B- with negative outlooks or CreditWatch-negative assignments have been increasing, indicating a negative bias. Similarly, Moody’s estimates that the […]
Excerpt from… Miami-Dade County jumps into legal fight over terminated toll-road agency By Shelly Sigo July 25, 2019 A court hearing Thursday and Friday could determine the fate of the Miami-Dade County Expressway Authority, and a new party in the case may sway the outcome. Miami-Dade County Commissioners decided Tuesday to become an amicus curiae, […]
Excerpt from “The Bond Buyer”… Shocking surge: Municipal bonds strength based on several fluid factors By Chip Barnett July 01 2019 With under a $1 billion of bonds and notes selling this week, municipal bond investors were looking beyond the week’s offerings — to fundamentals and performance. So far this year, muni yields have declined […]
