Cumberland Advisors Week in Review + Digest Jan 29 - Feb 02, 2024

Norman J. Dempsey, MBA
Sat Feb 3, 2024
Our latest Week in Review Video is now available online. This end-of-week update on markets generally features equities, bonds, and trading highlights. Thank you for joining us.
Week in Review

Matt McAleer & Equities
- Large-cap factor dominating rally
- Breadth is poor right now
- Waiting for Nov/Dec bid to come back into Small/Mid-caps

John Mousseau & Bonds
- Treasury yields bounced wildly
- Strong jobs report took everyone by surprise
- Commercial properties weighing heavily on New York Community Bancorp

Watch using either the link above or the following:
Cumberland Advisors’ Week in Review on YouTube

Access past video updates including the most recent via this YouTube Playlist URL:

Matt McAleer Email

Please send any feedback from today’s email/video to Matt McAleer. You can reach him at:
Email: [email protected]
Call Matt: (800) 257-7013 ext. 346

Other questions or comments? Email us at [email protected] or give us a call at (800) 257-7013

Have a great weekend,
Cumberland Advisors


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Cumberland Advisors’ Private Wealth Practice offers institutional-level money management for individual investors. We have a multi-decade history of service to institutional clients – independent non-profits, foundations, qualified retirement plans, and government entities. As a private investor, you can leverage that same expertise in the management of your portfolio. More information is available at our website and in our private wealth digital brochure.

2024 Cumberland Advisors Markets Outlook

2024 Cumberland Advisors Markets Outlook

This is a brief overview of Cumberland Advisors’ thoughts on financial markets compiled in January for the year ahead. We are coming off an unusual 2023, which was helped by good bond and equity markets late in the year. One of our basic investment tenets is that markets revert to the mean over periods of time, and that is reflected in our outlook here as well. Read our thoughts here:


Featured Commentary:
The FOMC – No Surprises

Robert Eisenbeis, Ph.D. - Vice Chairman & Chief Monetary Economist

by Robert Eisenbeis, Ph.D.
Feb 02, 2024

Excerpt below...

Federal Reserve Chairman Jerome H. Powell began his press conference by stating that the Committee would not begin cutting rates until it was “confident” that the economy was on a path towards 2% inflation and full employment. A great deal of the subsequent Q&A focused on what kinds of evidence over what period of time would be required to ensure “greater confidence” that policy was on the desired path. In response, Powell declined to give specific numbers or time periods to obtain that confidence but instead pointed to evidence from incoming data, though the exact timing was considerably uncertain. For example, if incoming inflation data declined significantly, then cuts might come sooner. Conversely, if inflation plateaued or increased, then cuts might be delayed. Similarly, if there was significant evidence that unemployment suddenly increased or there was evidence of significant weakness in labor markets, then cuts might come sooner. Powell did, however, suggest that March would be too soon. Additionally, when it came to the three cuts that were penciled in for 2024, Powell did state that those were in the December SEPs, which were prepared when participants expected growth in Q4 2023 to be slower than it subsequently turned out to be. The March 2024 SEPs might reflect a different view on timing if growth continues to be strong.

Continue reading by following link:



PATRICIA HEALY - A look at credit quality after munis close strong in 2023

Continue reading by following link:


John R. Mousseau, CFA, in The Bond Buyer

Analysts offer thoughts on the muni market in 2024 - Bond Buyer

Continued at The Bond Buyer website (paywall w/ limited free access):

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