Market Commentary


Cumberland Advisors Market Commentary – Fed Goes to War

Author: David R. Kotok, Post Date: April 16, 2020
Fed Goes to War

The April 12, 2020, posting on the Money, Banking and Financial Markets site, entitled “The Fed Goes to War: Part 3,” expands on the discussion of the extraordinary measures taken recently by the Federal Reserve. You can read the posting and learn more about this superb site and its authors here: Let me offer […]

Cumberland Advisors Market Commentary – A Very British Affair — Living with COVID-19 in the UK

Author: Kevin Humphreys, Post Date: April 15, 2020
A Very British Affair — Living with COVID-19 in the UK

Kevin Humphreys is a long-time commentary subscriber from the other side of the pond. He is a London-based independent financial market analyst and commentator with 23 years of trading and management in tier 1 UK banks followed by another 10 years in broking, management and market analysis roles, specializing in Eurozone and UK markets. Kevin […]

Cumberland Advisors Market Commentary –  Governors and the States

Author: David R. Kotok, Post Date: April 13, 2020
Market Commentary - Cumberland Advisors - Governors and the States

“Governor Gavin Newsom said that he would use the bulk purchasing power of California ‘as a nation-state’ to acquire the hospital supplies that the federal government has failed to provide. If all goes according to plan, Newsom said, California might even ‘export some of those supplies to states in need.’ “‘Nation-state.’ ‘Export.’ “Newsom is accomplishing […]

Cumberland Advisors Commentary – The Biblical Rembrandt

Author: David R. Kotok, Post Date: April 12, 2020
Rembrandt - Christ Before Pilate

In Amsterdam in 1632 , a talented young artist, Rembrandt Harmenszoon van Rijn, was commissioned to produce five etchings of biblical scenes. Rembrandt was born in 1606 and this was his breakthrough engagement, at age 26. His patron was Stadtholder Frederik Hendrik, Prince of Orange, the Dutch sovereign. Rembrandt was inspired by Rubens’s altarpiece in […]

Cumberland Advisors Market Commentary – Repos Revisited

Author: Robert Eisenbeis, Ph.D., Post Date: April 9, 2020
Market Commentary - Cumberland Advisors - Repos Revisited

On March 12, a Wall Street Journal headline announced, “Fed to Inject $1.5 Trillion in Bid to Prevent ‘Unusual Disruptions’ in Markets” ( The inference was that the Fed was embarking upon a massive injection of funds into short-term money markets. That is, the first three offerings of $500 billion each were but the first […]

Cumberland Advisors Guest Commentary – Timely Data Matters

Author: Samuel E. Rines, Post Date: April 8, 2020
Guest Commentary - Timely Data Matters

My friend and Camp K veteran, Sam Rines ( Chief Economist at Avalon Investment and Advisory), has an excellent discussion on high frequency data and how critical it is in the current environment. He is kind enough to give us permission to share the entire piece entitled, “Timely Data Matters,” with our readers. Thank you, […]

Cumberland Advisors Market Commentary –  WW2 versus WWC: The Doolittle Moment

Author: David R. Kotok, Post Date: April 7, 2020
WW2 versus WWC - The Doolittle Moment 1280x720

We’re going to look at World War 2 (WW2) versus the World War COVID-19 (WWC) events now unfolding and see what we can glean about markets, economies, interest rates, inflation rates, and the overall outlook. Let’s start with the stock market.  We expect this will be a multi-part series. Below is a chart that shows […]

Cumberland Advisors Market Commentary – Understand Leveraged ETFs*

Author: Leo Chen, Ph.D., Post Date: April 6, 2020
Understand Leveraged ETFs 1280x720

The first leveraged ETF was launched in 2006, 13 years after the first ETF was rolled out back in 1993. Although there has been much debate over whether leveraged ETFs add to market volatility and risk, the market size of leveraged ETFs has topped $100 billion since their launch. Evidently, investors’ appetite for leveraged ETFs […]

Cumberland Advisors Market Commentary –  Wuhan to Pharaoh & 3 Musical Messages

Author: David R. Kotok, Post Date: April 5, 2020
David R. Kotok

We especially thank Gary Shilling and Fred Rossi for help with this list. 1. Coronavirus. First officially appeared in Wuhan, China in December 2019. (We now know it was there in November). It spread through China, then elsewhere in Asia, and now throughout the world. 2. MERS (Middle East respiratory syndrome). Originated in Saudi Arabia […]

Cumberland Advisors Week in Review (Mar 30, 2020 – Apr 03, 2020)

Author: Cumberland Advisors, Post Date: April 4, 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 […]

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