Cumberland Advisors Week in Review (Feb 08, 2021 – Feb 12, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Market Commentary - Cumberland Advisors - Week in Review - Saturday Recap 2021

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 is always welcome.


As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


Matt McAleer & Equities / ETFs

-Never enough of your best trade! Matt details.
-This week we have a chart to share with you (see below).
-What worries us? A spike!
-Demand for munis continues

Dorsey Wright Chart

John Mousseau & Fixed Income / Munis

-Déjà vu. This week looks pretty familiar. John details.
-John talks about the “muni crush”
-Do people sense higher taxes down the road?
-Jobless claims disapointing this week.
-CPI – holding steady. Going a year out? Expectations are greater.
-Have a great Presidents Day Weekend!

Reminder: John presents at the MoneyShow, Feb 16th 2pm-4pm EST with a talk titled “Bond Markets through the Pandemic, the Election, and into 2021.” Learn more here:

John Mousseau talk titled "Bond Markets through the Pandemic, the Election, and into 2021"


Special Message from Matt: Meet Charles Metzler!

Charles Metzler

Charlie is our newest investment advisor. He is a University of Missouri Finance Major and he resides here in Sarasota, FL where our HQ is located.  Charles has passed his first level CFA, and he’s earned his CFP. Initially, he’ll be helping us internally with a variety of client enhancing tasks taking advantage of his robust skill set. We invite you to say hello via email or in person if you stop by the office.


Please reach out with any questions/comments you may have about this update; we appreciate your calls, comments, and emails. Watch in the player above or at this link:

Have a great weekend
-Matt McAleer & Cumberland Advisors


Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email:
-Link to Matt’s Twitter:
-Link to Matt’s LinkedIn:
-Call Matt: (800) 257-7013Other questions or comments? Email us at or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link:


Cumberland Advisors Market Commentary

Cumberland Advisors Market Commentary offers insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies. Our readers appreciate its timeliness, depth of analysis, and quality of research.

Read current and past commentaries here:

Struggling with the Pandemic and Brexit in the UK

Author: William Witherell, Ph.D., Post Date: February 12, 2021

Cumberland Advisors Market Commentary by William "Bill" Witherell, Ph.D.

The timing could not have been worse. The United Kingdom exited the European Union on January 1 in the middle of the second wave of the COVID-19 pandemic, which was striking the UK with particular force, driven by a new, more infectious strain. On January 6, the third strict lockdown affecting all parts of the […]

Don’t Fight the Fed — Yet

Author: Chris Whalen & David R. Kotok, Post Date: February 11, 2021


My friend Chris Whalen opened his Feb. 9 missive with profound words: “Don’t Fight the Fed – Yet” ( Here’s why we fully concur. Bullets follow. 1. The Federal Reserve’s policy is clear: above 2% inflation on a sustained averaging trajectory, as measured by year-over-year PCE. We are at least two years away from that […]


Author: David R. Kotok, Post Date: February 9, 2021


So now we’ve seen an asset-market reaction to the social media trolling regarding silver. Like GameStop, silver became the flavor of the week. At Cumberland, we don’t own silver. There is one strategy that may own it from time to time, and it doesn’t hold it now. We can also own the miners in ETF […]

Jobs – January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: February 8, 2021

Robert Eisenbeis

Progress in 2021 on one leg of the FOMC’s dual mandate, the jobs situation, has started to be revealed with the release of 5 weeks of data on new unemployment claims for January and the BLS January CES jobs numbers. These data suggest the pandemic is still having a significant negative impact on economic activity […]

Sir Tom Remembered

Author: David R. Kotok, Post Date: February 7, 2021

Sir Tom Remembered Remembering Captain Sir Tom Moore A cancer survivor recovering from a broken hip, Tom Moore looked for a way to say thanks to his National Health Service (NHS) caregivers in England. In the midst of a pandemic, he pondered the enormity of the need and considered what a 99 year old could do to help. […]

GameStop & SKEW!

Authors: Leo Chen Ph.D., David R. Kotok, & Matthew McAleer – Feb 1, 2021

Market Commentary - Cumberland Advisors - GameStop & SKEW!

There were two unusual events last week. One made massive headlines; the other flew under the radar. Unless an investor was on a Martian vacation, it was impossible to avoid the media battering that featured keywords like GameStop, Reddit, Robinhood, Citron, and WallStreetBets. And there was a cash requirement from brokers by DTCC, the stock […]

Veterans, Markets, & Impeachment

Author: David R. Kotok, Post Date: January 31, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-Veterans, Markets & Impeachment

We do not expect financial markets to be influenced by the coming Senate impeachment trial. It appears that most market agents expect the outcome to be a repeat of history, where the two-thirds threshold of a Senate conviction vote is not reached. If it is reached, there may be some market reaction; but we think […]

FOMC, January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: January 29, 2021

Robert Eisenbeis

To no one’s surprise, the FOMC kept its target range for the federal funds rate at 0–.25% and reaffirmed that it will continue adding to its portfolio at the rate of $120 billion per month, in a mix of at least $80 billion in US Treasuries and $40 billion in agency MBS. The Committee’s statement […]

ERP & The Stock Market

Author: David R. Kotok, Post Date:


The tall man eats dinner every Tuesday at the same restaurant on 58th St. in NY. He loosens his bowtie after working late on Tuesday nights; he sits at his usual table; he orders the usual meal from the same waiter who has served him for the last 14 years. The waiter, Demetrius, brings the bowl […]

The Polar Vortex Is Coming To A State Near You!

Author: Bob Bunting, Post Date: January 28, 2021

Climate Adaptation Center

At Cumberland, we pay attention to weather trends and phenomena since severe weather and the destruction left in its wake can affect municipal bonds and reconstruction efforts may result in new bond offerings to meet repair and improvement costs. Bob Bunting, CEO of the Climate Adaptation Center (CAC), has given us permission to share his […]

COVID Legal liability & Markets

Author: David R. Kotok, Post Date: January 26, 2021

Market Commentary - Cumberland Advisors - COVID Legal liability & Markets

The political debate over COVID-related liabilities of businesses is intense. Companies want a federal shield, which McConnell-McCarthy haven’t been able to get for them. Trial lawyers want an open target, which Pelosi-Schumer haven’t been able to get for them. A bipartisan Senate group was trying to broker a compromise. (“No Agreement on Covid-Aid Liability Reached,” […]

US vs. China – Competition vs. Conflict

Author: William Witherell, Ph.D., Post Date: January 25, 2021

Market Commentary - Cumberland Advisors - US vs. China – Competition vs. Conflict

China’s economy grew at a 6.5% year-over-year rate in the fourth quarter, bringing growth for the full year 2020 to 2.3%. China’s was the only major economy to expand last year, despite the outbreak of the pandemic and the related economic shutdowns early in the year in China. That positive growth compares with a 3.5% […]

A message from David R. Kotok…

COVID-19 Education for Frontline Nurses

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details:

Cumberland Advisors - Frontline Nurses - The USF Program and Why To Do It

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.

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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.