Cumberland Advisors Week in Review (July 05, 2021 - July 09, 2021)

Cumberland Advisors
Sat Jul 10, 2021

Thank you for joining Cumberland Advisors for this Friday, July 09, 2021, end-of-week update on market conditions, equities & bonds with our Executive Vice President & Director of Equity Strategies, Matt McAleer and our Senior Vice President of Research & Portfolio Manager, Patricia Healy, CFA.


Matt McAleer - Equities / ETFs:

- Some volatility in Equity Market this week
- Has the economy peaked and is that a problem?
- There's been a change in character in this market. Matt provides color.
- We have charts to share pertaining to the first half of 2021
- We first look at the chart, Max Drawdown by Calendar Year
- The next chart explores various years by halves to illustrate the lack of a clear correlation to drawdowns in any first half of a year to the year's second half.
- We have to trade what we see from day to day, week to week and remain flexible.
- Matt explains cash levels and how he's positioning portfolios based upon current conditions in the market.
- Our International Portfolio works to weight heavier in developed markets vs. emerging.
- Matt talks about other strategies and what's behind the changes we've made

Patricia Healy, CFA - Fixed Income:

- Short week, many on vacation too. Reason for volatility?
- Patty provides numbers on Treasuries & Munis and gives us her perspective as to why they're at their current levels.
- FOMC meeting indicates for now that the Fed won't move too much, with inflation spike seen as only transitory.
- Patty has a chart to share tracking US Treasury rates
- We expect rates to creep slowly upward as normalcy returns
- Not much issuance this week with Munis. Demand, payments, and taxes all in play affecting Munis.
- Unemployment a little higher than expected this week.
- About nine billion in Muni supply coming online next week.
- Enjoy your weekend!


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

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) 257-7013

Other questions or comments? Em
ail us at or give us a call at (800) 257-7013.



The Bond Buyer | Market debates whether Illinois can capitalize on rating momentum
 Quoted: John R. Mousseau, CFA | Tue July 6, 2021

Bloomberg | S&P 500 Perfect Earnings Record Is on the Line With Peak Growth
 Quoted: David R. Kotok | Sat July 10, 2021

Fintech ZOOM | Global stocks tumble on worries about latest Covid wave
 Quoted: David R. Kotok | Fri July 9, 2021

U.S. News & World Report | Fed Minutes Reveal Little for Markets
 Quoted: Robert Eisenbeis, Ph.D. | Thu July 8, 2021

U.S. News & World Report | ADP: Employers Added 692,000 Jobs in June
 Quoted: David R. Kotok | Wed June 30, 2021

Bloomberg | 'Strategic Shock' From Covid Will Take Years: David Kotok
 Quoted: David R. Kotok | Mon June 28, 2021

U.S. News & World Report | ADP: Employers Added 692,000 Jobs in June
 Quoted: David R. Kotok | Wed June 30, 2021

Bloomberg | Cumberland Advisors: Credit Spreads Are Tight (Video)
 Quoted: David R. Kotok | Tue June 15, 2021


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