Cumberland Advisors Week in Review (Nov 23, 2020 – Nov 27, 2020)

Author: Cumberland Advisors, Post Date: November 28, 2020

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

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.

John Mousseau & Fixed Income / Munis / Equities / ETFs
-Pretty good week for equities. Equity markets up over 2%, Dow up about 2%, NASDAQ up about 2 1/2%
-This was a reflection of a couple of things:
(1) More good vaccine news
(2) Higher comfort level with new Biden Administration, markets clearly embraced pick of Yellen
-Bond market yields slightly higher this week, both 10yr & 30yr slightly up
-Increase volatility in bonds
-Some pretty good buys in the bond market today
-We’re seeing the theme we’ve been talking about continue with higher yields slowly over time
-Munis? Quiet week, not much issuance. We expect issuance to pick up next week, particularly toward end of year.
-JFK Airport deal tremendously oversubscribed. We think it reflects demand for yield, even pandemically affected yield.
-All this means markets are in pretty good shape as we head toward year-end.

Watch this week’s update in the player above or at this link:

Please reach out with any questions/comments you may have about this update; we appreciate your calls, comments, and emails.

We hope you had a great Thanksgiving and we’ll see you next week.
-John Mousseau & Cumberland Advisors

Please send Matt McAleer any feedback from today’s email/video. 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:

David R. Kotok Interviewed – Reviving Immigration Is Key To U.S. Turnaround
Nov 24, 2020 – Hosted by Paul Sweeney and Vonnie Quinn at Bloomberg Radio
Cumberland's David Kotok on Bloomberg Radio
David R. Kotok, Chairman & Chief Investment Officer at Cumberland Advisors, on immigration, the Fed, Yellen as Treasury pick, and outlook for markets.

“Markets, as we see it, are looking beyond next spring. Its the classic 6 or 9 months forward looking, post-vaccine recovery. And you see some forecasts of the roaring 2020s…”

David R. Kotok (Radio)

Listen here:

Small Business Saturday is sandwiched between Black Friday and Cyber Monday. It’s a national initiative to shop local and support mom-n-pops and your hometown businesses.

Small Business Saturday

Learn more about Small Business Saturday at the following links:

#ShopSmall along the Suncoast for Small Business Saturday
By Alejandro Romero – SNN TV

COVID-19 makes Small Business Saturday all the more important
Laura Finaldi – Sarasota Herald-Tribune

Giving Tuesday and Small Business Saturday
WWSB newscast

Small Business Saturday brings hope to local businesses

Manatee retailers feel boost from Small Business Saturday

Small Business Saturday has new meaning during pandemic
By Laura Layden – Naples Daily News

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.

To read current and past commentaries, visit


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

Sturgis! Dear readers, this piece about Sturgis and its aftermath has been weeks in preparation. We are sending it now because we believe that Sturgis was the largest of the super-spreader events that have occurred in the United States – half a million people without any restrictions. And we believe that learning can occur from examining what […]

Fed Vacancies – the Dilemma As of 11/23/2020

Author: Robert Eisenbeis, Ph.D., Post Date: November 23, 2020

Federal Reserve Building As the Biden administration begins to float the names of potential cabinet members, an interesting scenario and potential dilemma faces the Federal Reserve Board. Normally, there are seven members of the Federal Reserve Board, but at present there are only five, with two vacant positions. One vacancy has existed since March 2014 when Sarah Bloom […]

The Ballet

Author: David R. Kotok, Post Date: November 22, 2020

Market-Commentary-Cumberland-Advisors-David-Sunday-The-Ballet My friend Steve sent this terrific musical dance video. Enjoy. Please notice how deeply you see ballet training in so many of the dancers we recognize.   Here it is:     The second time I watched it, I thought more particularly about ballet and, then, memories of performances unfurled in my mind. With […]


Author: David R. Kotok, Post Date: November 20, 2020

Cumberland Advisors Market Commentary - COVID, COVID, COVID! Recovery

A Bleak Short-Term COVID Outlook, Then Recovery Dawns Fact is, during the darkest hours before light breaks, dawn is already racing toward us across the surface of the turning world. That’s an image – a reassuring metaphor – that can sustain us now. America’s darkest hours in the COVID-19 pandemic lie just ahead, over the […]

Hurricanes, Bob Bunting, CAC

Author: Bob Bunting, Post Date: November 18, 2020

Bob Bunting - CEO, Climate Adaptation Center (CAC)

Municipal bond ratings are affected by the preparedness of the issuers for severe weather, the impacts of climate change, and other factors that may affect credit ratings. Cumberland Advisors takes a keen interest in the micro and macro details surrounding municipalities and weather events. Our colleague Bob Bunting, meteorologist, professor, and former executive at both […]

Will the NASDAQ Crash? Also: Helping Nurses!

Author: David R. Kotok, Post Date: November 16, 2020

Market Commentary - Cumberland Advisors - Will the NASDAQ Crash? - Also Helping Nurses!

Will the NASDAQ crash? We get that question often. Here’s a Bloomberg discussion on that subject and a Bloomberg chart comparing the NASDAQ bubble 20 years ago with the NASDAQ spike this year: “Nasdaq-100 Stumbles Near Dot-Com Era Record Versus Dow,” And here’s a Cumberland commentary we wrote at the peak of the NASDAQ […]

Flying to Florida

Author: , Post Date: November 15, 2020

Market Commentary - Cumberland Advisors - Flying to Florida

Investors and clients ask about the transportation sector and specifically airlines.  The outlook is dependent on travelers’ perceived personal safety (COVID vaccines and treatment options) in addition to economic recovery that can generate the incomes to cover the costs.  There isn’t much more we can add to that investment perspective. We do field direct questions […]

Municipal Employment

Author: Patricia Healy, CFA, Post Date: November 12, 2020

Market Commentary - Cumberland Advisors - Municipal Employment - Patricia Healy, CFAThe positive jobs growth news, showing an increase of 638,000 jobs in October and a full one percent reduction in the unemployment rate to 6.9%, masked a decline in government employment. Private jobs were up by 906,000, led by an increase of 271,000 in hospitality and leisure, a sector that has been hit particularly hard […]


Author: David R. Kotok, Post Date: November 11, 2020


On November 11, 1918, President Woodrow Wilson signed the agreement that ended the fighting in World War 1, a conflict that engulfed 30 nations and cost millions of lives (estimates vary). In June of 1919, the Treaty of Versailles would attempt to forge the terms of the peace. Months later, on November 11, 1919, Wilson […]

Singles’ Day and Alibaba

Author: Leo Chen, Ph.D., Post Date: November 10, 2020

Market Commentary - Cumberland Advisors - Singles’ Day and Alibaba (Leo Chen)

November 11 is Singles’ Day in China. It is an unofficial shopping holiday that was started by Alibaba in 2009. It is called Singles’ Day because the repeated number “1” in “11.11” refers to single people in Chinese. Although Singles’ Day is often compared to Black Friday in the US, it is actually more similar […]

China Update – Ant Versus the State

Author: William Witherell, Ph.D., Post Date: November 9, 2020

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

Last week, the Ant Group was expected to list in Shanghai and Hong Kong the largest IPO in history. However, on Tuesday, November 3, the Shanghai Stock Exchange announced it had postponed the company’s listing, citing “major issues” that might cause it “not to meet the listing conditions or disclosure requirements.” The IPO listing was […]

The Role of Nurses

Cumberland Advisors is an Annual Sponsor
of the Global Interdependence Center

The Role of Nurses

About the Briefing

The Role of Nurses is the theme of this Executive Briefing. Attendees are offered context and perspective regarding the critical role that nurses play in the response to COVID-19 as well as changes to the nursing curriculum as a result of the pandemic.

Thursday, December 3, 2020 | 12:00 – 1:00 p.m. ET

When registering, GIC encourages you to participate in their
audience Q&A by submitting a question for the speakers.

This Executive Briefing will be held via Zoom.


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