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): Patricia Healy, CFA | Wed October 9, 2024
The election, the election, the election… not so much when it comes to muni credit quality.
Of course, the ideas being bandied about by the presidential candidates – if implemented, and depending on whether we have a divided government – could have ramifications for municipalities. But…
Author(s): Daniel Himelberger | Thu October 3, 2024
Total Return Gov/Credit Third-Quarter Review
Author(s): David W. Berson, Ph.D. | Wed October 2, 2024
The key points you should know:
This is what a soft landing looks like.Economic growth, especially the job market, is slowing – but not dangerously so.Inflation continues to slow but is still modestly above the Fed’s longer-term goal.The Federal Reserve has begun to ease and expects to…Author(s): Patricia Healy, CFA | Wed October 2, 2024
When we wrote our commentary last week on climate week and the ninth named storm, little did we know that Helene would cause such a huge swath of damage and destruction.
Author(s): John R. Mousseau, CFA | Fri September 27, 2024
The third quarter of 2024 saw a rally in both the Treasury bond market and the municipal bond market.
The Treasury bond market saw the 10-year US Treasury bond yield move from 4.479 at the beginning of the quarter to 3.797 on September 26th. The move in munis was more muted, with 10-year…
Author(s): David R. Kotok | Wed September 25, 2024
Recently I received a well-thought-out communication from a reader offering the following:
Author(s): Patricia Healy, CFA | Wed September 25, 2024
Climate Week in NYC Sept. 23–29 brings many of those interested in climate and resiliency together. It overlaps with the UN General Assembly and attracts high level government and business speakers. It is a hybrid conference, and many of the sessions have been or will be live streamed at https…
Author(s): Robert Eisenbeis, Ph.D. | Fri September 20, 2024
The FOMC has now significantly revised its policy path going forward, dropping its target rate by a somewhat surprising 50 basis points, and is now on track to reduce rates by 25 basis points two more times in 2024 and as many as four more times in 2025. This is the first rate cut in four years…
Author(s): John R. Mousseau, CFA | Wed September 18, 2024
The Federal Reserve cut the short-term federal funds rate on Wednesday from 5.25–5.50% to 4.75–5.00%. This is the first rate cut since the Fed began to raise rates in March of 2022 coming out of Covid. It has long been expected that the Fed would cut at today’s meeting. The Fed has hinted at…
Author(s): David W. Berson, Ph.D. | Wed September 18, 2024
The Federal Open Market Committee announced that it was cutting the target federal funds rate to a range of 4.75-5.00 percent – a 50 basis point cut in rates. The Summary of Economic Projections (SEPs, otherwise known as the dot plots) shows that a majority of FOMC members projects a year-end…