Market Commentary


Cumberland Advisors Market Commentary – Hope – An Update

Author: Robert Eisenbeis, Ph.D., Post Date: October 2, 2020
Cumberland Advisors Market Commentary - Hope – An Update - Robert-Eisenbeis, Ph.D.

Our commentary “FOMC: Hope Now Seems to Be a Strategy” ( focused on the FOMC’s latest decision to keep its target for the federal funds rate between 0–.25%, to change its strategy for policy going forward to focus on shortfalls in labor markets from what the Committee perceives to be full employment, and to shift […]

Cumberland Advisors Market Commentary – Taxable Total Return 3rd Quarter Review

Author: Daniel Himelberger, Post Date: October 1, 2020
Cumberland Advisors Market Commentary - Taxable Total Return 3rd Quarter Review

Markets experienced volatility in the third quarter of 2020 as COVID-19 and the looming election continued to drive uncertainty regarding an economic rebound. The net result of the volatility left the Treasury market little changed on the quarter, while spreads on investment-grade corporates and taxable municipals continued to grind lower from the peaks set at […]

Cumberland Advisors Market Commentary – Beware of Private Equity in Retirement Plans – 3(38) Fiduciary Advisors Are Needed Instead

Author: Michael McNiven, Ph.D., Post Date: September 30, 2020
Cumberland Advisors Market Commentary - Michael McNiven, Ph.D.

Over the summer, the private equity industry received a very favorable ruling from the Department of Labor, allowing 401(k) plans to invest in private equity funds. Of course, the private equity industry and their lobbyists have long desired the opportunity to access 401(k) assets, and they are ecstatic. This opportunity opens up several trillion dollars […]

Cumberland Advisors Market Commentary – UK Facing Virus Second Wave and Brexit Deadline

Author: William Witherell, Ph.D., Post Date: September 29, 2020
Market Commentary - Cumberland Advisors - UK Facing Virus Second Wave and Brexit Deadline

United Kingdom stocks are underperforming the Eurozone markets as the nation faces the double challenges of an upsurge in virus infections and time running out in the deadlocked negotiations with the EU on Brexit. Over the past three months through September 24, the iShares MSCI United Kingdom ETF, EWU, lost 5.0% on a total return […]

Cumberland Advisors Market Commentary – CIO Overview & Outlook

Author: David R. Kotok, Post Date: September 28, 2020
David R. Kotok

The second quarter of 2020 saw the worst quarterly decline in economic terms since the Great Depression of the 1930s. The US economy literally fell off the COVID cliff. This downdraft side of a very sharp “V” has already made an economic bottom. (It was foretold by the March 23 low in the stock market.) […]

Cumberland Advisors Market Commentary – Three Super New Moons (#28)

Author: David R. Kotok, Post Date: September 27, 2020
Market Commentary - Cumberland Advisors - Three Super New Moons (#28)

Sentiment & Statistical Indicators +Three Super New Moons (Item #28) Some indicators offer guidance. None is perfect. All stimulate thinking. Here’s a sampling about economics, financial markets, health, climate, politics, and, yes, even a forecast from astrology. We’ve saved that for last (#28). 1. The misery index is a long-established statistic. It is simply adding […]

Cumberland Advisors Week in Review (Sept 21, 2020 – Sept 25, 2020)

Author: Cumberland Advisors, Post Date: September 26, 2020

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team. These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback […]

Cumberland Advisors Market Commentary – Interest Rates and Yield Curve Control, Part 3

Author: David R. Kotok, Post Date: September 24, 2020

To understand US interest rates and how yield curve control works, it is critical to consider the effects of negative interest rates coupled with yield curve control, as already applied outside the US. We have written several times about the impact of negative interest rate policy (NIRP) on worldwide interest rates. In the current pandemic […]

Cumberland Advisors Market Commentary – Wildfire: Correction and Addition

Author: David R. Kotok, Post Date: September 22, 2020
Cumberland Advisors Market Commentary - Wildfire Correction and Addition

In our recent commentary “Wildfire: More Than a Song”, we stated that our nation’s federally owned forests “are housed in the Department of the Interior.” That is true up to a point: The Bureau of Land Management (BLM), which is an arm of the Department of the Interior, does manage 246 million acres of […]

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