Dear Clients & Friends,
Thank you for watching Cumberland Advisors' Q4 2024 Quarterly Review, a recap on market conditions and trading decisions that impacted our primary equity and fixed income investment strategies throughout the past year.
Matt McAleer on Equities –
Growth continued to outperform in Q4 while equal weight lagged in U.S. Core ETF
Argentina was a star for International Equity ETF, but Europe & Asia continued to struggle
Solid performance from S&P 500 with Mid-Caps fading in December for Active Passive
Growth remained the top performer for U.S. Equity ETF as well
Although QQQ & Tech traded well overall, Industrials took a breath in Tactical Trend
John Mousseau on Fixed Income –
Q4 saw a rise in yields across the Treasury curve from intermediate to out long
Although the Fed continued to cut rates into year-end, the timing of additional cuts will be data dependent as they turn their focus back towards containing inflation
Since REAL yields are higher, bonds are now more attractive heading into 2025
The rise in Muni yields was a little more muted in Q4 vs. Treasuries
Many Muni issuers moved up issuance to September & October in front of the election.
View the charts featured in our Q4 2024 review –
Broad Equities Size vs. Style Performance:
#1 Performance Review Q4 2024
https://mcusercontent.com/d6f020f3bd6a1e2c4eb254e6c/images/61967571-8125-3b83-6d93-075401cb6568.png
#2 INTL vs ACWX Country Weights Q4 2024
Fixed Income Yields:
#3 Trump Betting & the Bond Market Q4 2024
https://mcusercontent.com/d6f020f3bd6a1e2c4eb254e6c/images/50e120ac-9dcc-d857-fa9a-bcab11e813cf.jpg
#4 10 Year Yields Q4 2024
https://mcusercontent.com/d6f020f3bd6a1e2c4eb254e6c/images/bde53c54-7423-ea40-3a4c-2dc5913d23a8.jpg
U.S. Equity ETF vs. S&P 500 Index Sector Weightings:
#5 U.S. Sector Weightings Q4 2024
Have any questions or thoughts regarding this review video? Please feel free to leave a comment with any feedback from today’s email/video or give us a call at (800) 257-7013.
Matthew C. McAleer
President and Director of Private Wealth
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