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

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

CUMBERLAND ADVISORS’ WEEKLY RECAP

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.

Dear Clients & Friends,

Thank you for joining Cumberland Advisors for this end-of-week update on market conditions, bonds & equities with Matt McAleer. John Mousseau has the day off.

Matt McAleer & Equities / ETFs

– Nice volatile week!
– Volatility and Risk are not the same
– We like to use volatility to add to strong areas on weakness – Matt explains
– Opportunity shifts the risk/reward scale in your favor
– Powerful ratios can put you in strong names that withstand market headwinds – Matt details
– Matt gives quick overviews of some of our strategies and how/why we’re putting cash to work
– Thoughts on investing in Alibaba
– We talk about Life Insurance – let’s talk about dividend yields and interest rates and how it affects this instrument
– Matt asks for your input on this subject

John Mousseau & Fixed Income / Munis

– John provides where yields are
– Quiet week in munis
– We’re seeing election jitters enter markets – we’ve seen this before
– Jobless rates a little higher than expected
– Continuing jobless claims down a little
– Home sales? Rockin’!
– John talks about the bond landscape
– Airports are fairing better than convention centers and stadiums but they still “have wood to chop” before they get back to normal
– As we get closer to a vaccine, the ability to access capital markets is so important for municipal issuers
– Some good news? Looks like Pelosi and Mnuchin are hammering out an agreement for more stimulus/relief that will include relief to state and local governments
– Be sure to watch debates on coming Tuesday

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: https://youtu.be/aTaDczA6yEc

Have a great weekend.

-Matt McAleer & Cumberland Advisors

Matt enjoys your feedback. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013

Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


IN THE NEWS

 

Politico – Wall Street braces for election chaos

Quoted: David R. Kotok | Posted on: 09/25/2020 read more

The IRA: Powell Fed Embraces Monetary Relativity

Quoted: Robert Eisenbeis | Posted on: 09/23/2020 read more

Politico – Wall Street loses altitude

Quoted: David R. Kotok | Posted on: 09/18/2020 read more

BondBuyer – Puerto Rico debt deal reaches a turning point

Quoted: Shaun Burgess | Posted on: 09/11/2020 read more

July Labor Turnover Survey (JOLTS)

Quoted: David R. Kotok | Posted on: 09/09/2020 read more

Politico – Economy to dominate the stretch run

Quoted: David R. Kotok | Posted on: 09/08/2020 read more

David Kotok on the Markets (Radio)

Quoted: David R. Kotok | Posted on: 09/02/2020 read more

 


More Cumberland Advisors News here:

https://www.cumber.com/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 https://www.cumber.com/category/market-commentary/


Cumberland Responds to Barron’s

Author: David R. Kotok, John R. Mousseau, CFA & Patricia Healy, CFA, Post Date: September 23, 2020

Cumberland Advisors Market Commentary - Cumberland Responds to Barron's

Many municipal entities are under extreme stress and federal help is needed now, or these entities will have to reduce staff, swelling the ranks of the unemployed across the nation and reducing municipal services at the very time that demands for those services are at record levels. [Continued…]


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” https://www.cumber.com/cumberland-advisors-market-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 [Continued…]


Trump and Puerto Rico. Better late than never.

Author: David R. Kotok, Post Date: September 21, 2020

Market Commentary Puerto Rico

With much fanfare, on Friday, Sept. 18, President Trump abruptly shifted his policy on rebuilding Puerto Rico. Where he had often disparaged the island’s leaders and opposed rebuilding a power grid and other infrastructure that was destroyed by Hurricane Maria in September 2017, Trump now claimed, “I’m the best thing that ever happened to Puerto [Continued…]


Wildfire: More Than a Song

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

Cumberland Advisors Market Commentary - Wildfire More Than a Song

Let’s begin this missive with some remarks on wildfire issues from Philippa Dunne of TLR Analytics. Philippa has vast personal experience with fires and is one of our nation’s highly skilled analysts of labor data cohorts, including firefighters. “Over the last decades, yes decades, news pieces on short-handed fire-crews losing control of western fires have [Continued…]


FOMC: Hope Now Seems to Be a Strategy

Author: Robert Eisenbeis, Ph.D., Post Date: September 18, 2020

Cumberland Advisors Market Commentary - FOMC Hope Now Seems to Be a Strategy (Eisenbeis)

The FOMC finished its September deliberations and published its first statement and Summary of Economic Projections (SEPs) since the revision of its policy strategy was announced on the eve of the Kansas City Fed’s annual August Jackson Hole Symposium. The statement began by reiterating that the FOMC stands ready to employ its full range of [Continued…]


Bipartisan House Members: “Enough Is Enough”

Author: David R. Kotok, Post Date: September 17, 2020

The bipartisan House Problem Solvers Caucus (https://problemsolverscaucus-gottheimer.house.gov), led by Reps. Josh Gottheimer (D-NJ) and Tom Reed (R-NY) includes around 50 House members, both Republicans and Democrats. They have proposed a US pandemic aid package that amounts to $1.5 trillion and continues unemployment aid at $450/week, increasing over time to $600/week but not to exceed a [Continued…]


JOLTS – July

Author: Robert Eisenbeis, Ph.D., Post Date: September 16, 2020

Cumberland Advisors' Robert "Bob" Eisenbeis, Ph.D.

The BLS Job Openings and Labor Turnover Survey (JOLTS) data come out with a lag, so we are now just getting a look at the July numbers. They do, however, help fill in some of the labor dynamics that are occurring within the economy as we adjust to the COVID-19 pandemic shock. We know that [Continued…]


The Rise of Separately Managed Accounts – 2020 Update

Author: Patricia Healy, CFA, Post Date: September 15, 2020

Cumberland has utilized separately managed accounts (SMAs) to execute its fixed-income strategy since the company’s inception in 1973, long before SMAs were popularized in the early 2000s. The reasons for managing money in this fashion are the same today as they were then: • Transparency (you know what you own) • Flexibility to make strategic [Continued…]


Insider Trading – the Case of Energy

Author: Leo Chen, Ph.D., Post Date: September 14, 2020

Cumberland Advisors Market Commentary - Insider Trading – the Case of Energy

Our last commentary on insider trading studied post-insider-purchase-spike (PIPS) market performance (https://www.cumber.com/cumberland-advisors-market-commentary-insider-trading-what-does-it-tell-us/). We found that the 6-month market return is 13.54% on average after the insider buy/sell ratio rises above 1. Today we will demonstrate the PIPS effect using the Energy sector as an example. Undoubtedly, corporate insiders possess an informational advantage over outsiders. The [Continued…]


Florida Schools & Florida’s Businesses?

Author: David R. Kotok, Post Date: September 13, 2020

Cumberland Advisors Market Commentary - Florida Schools & Florida's Businesses

Dear snowbirds and tourists: There is no question that Florida’s businesses, restaurants, hotels, fishing guides, and theme parks need you and want you. It’s simple, our state economy depends on visitors, and we want you to come and we want you to spend your money. We’re hurting. Some have asked us about visiting us at [Continued…]


Cuba and the Caribbean: What Now?

The Economies of Cuba & Puerto Rico Explored

February 22, 2018

USF Sarasota-Manatee, Cumberland Advisors, and the Global Interdependence Center hosted a series of talks on February 22, 2018 discussing current issues involving U.S. interests and current events in the Caribbean. In this video, economists have a look at the economic state of Cuba and Puerto Rico after a series of destructive storms.


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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.

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Cumberland Advisors® is registered with the SEC under the Investment Advisers Act of 1940. All information contained herein is for informational purposes only and does not constitute a solicitation or offer to sell securities or investment advisory services. Such an offer can only be made in the states where Cumberland Advisors is either registered or is a Notice Filer or where an exemption from such registration or filing is available. New accounts will not be accepted unless and until all local regulations have been satisfied. This presentation does not purport to be a complete description of our performance or investment services. Please feel free to forward our commentaries (with proper attribution) to others who may be interested. It is not our intention to state or imply in any manner that past results and profitability is an indication of future performance. All material presented is compiled from sources believed to be reliable. However, accuracy cannot be guaranteed.
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