Insights
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.
Author(s): David R. Kotok & Philippa Dunne | Fri August 18, 2017
This commentary was co-authored by Philippa Dunne (The Liscio Report) and David Kotok (Cumberland Advisors). It reflects their personal views.
A saga unfolds. First, snippets of online news, followed by TV images and “breaking news” reports. “Another one,” she thinks. “Ugh!” he exclaims…
Author(s): David R. Kotok | Tue August 15, 2017
“Geopolitical tensions reared up last week and eclipsed key fundamental data points. The escalating war of words between the US and North Korea resulted in a textbook flight to safety into bonds, and also provided an excuse to take profits on equities, especially after the Dow posted nine…
Author(s): David R. Kotok | Sat August 12, 2017
First to markets: We have raised a cash reserve in US ETF portfolios, and we are realigning bonds now that credit spreads are tightening and yields are low as quality flight occurs. We have rebalanced gold miners using an ETF. We remain overweight the financial sector and defense sector using…
Author(s): David R. Kotok | Tue August 8, 2017
When the Treasury Secretary of the United States has to manage federal finances as the calendar propels the country toward an artificially created fiscal cliff, he typically writes a letter like this one: treasury.gov/initiatives/Documents/Mnuchin to Ryan on DISP - 7-28-17 (2).pdf. Such is the…
Author(s): David R. Kotok | Thu August 3, 2017
In June, the European Central Bank published a must-read working paper entitled "Communication of monetary policy in unconventional times" (ecb.europa.eu/pub/pdf/scpwps/ecb.wp2080.en.pdf). We highly recommend this 46-page working paper for any serious investor, academic, student, or other person…
Author(s): John R. Mousseau, CFA | Tue August 1, 2017
As the summer doldrums roll on, we thought it was a good time to recap where the muni market has come since the Trump sell-off of last fall.
A number of factors have helped the overall muni market.
Author(s): David R. Kotok | Thu July 27, 2017
For an in-depth discussion of blockchain and cryptocurrencies see the June 2017 white paper published by the World Economic Forum: “Realizing the Potential of Blockchain: A Multistakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies” (www3.weforum.org/docs/…
Author(s): Bill Witherell, Ph.D. | Sat July 22, 2017
The European Central Bank (ECB) decided on July 20th to maintain its extraordinary monetary stimulus with no change in policy interest rates. ECB President Mario Draghi’s remarks reassured markets that the eventual move towards normalization of rates and the ECB’s balance sheet will not be made…
Author(s): David R. Kotok | Fri July 21, 2017
Jeff Uscher’s Japan Insider is one of my daily reads and regularly delivers insights I value and rely upon. Jeff has generously given me permission to share with you his research on why overall wages in Japan are stagnant despite a compelling labor shortage and thus why, despite the best efforts…
Author(s): David R. Kotok | Wed July 19, 2017
"Since the Great Recession, which is now 8 years old, we've been growing at 1.5 to 2 percent in spite of stupidity and political gridlock, because the American business sector is powerful and strong. What I'm saying is it would be much stronger growth had we made intelligent decisions and were…