TV Appearances

Cumberland-Advisors-Market-Update-20210219

Cumberland Advisors Week in Review (Feb 15, 2021 – Feb 19, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Market Commentary - Cumberland Advisors - Week in Review - Saturday Recap

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


 

Matt McAleer & Equities / ETFs

-A lot of action in old industry names
-Don’t get stuck in only one approach to the market
-Nothing new in the market – new names, new companies, cycles are omnipresent
-Be careful how you’re allocated – Matt details
-Hat tip to the Moose in how he’s handling fixed income

John Mousseau & Fixed Income / Munis

-Bond Markets – more of the same!
-Yield Curves are becoming steeper
-This week, Muni Yields moved up 18bps
-We have a 10yr AAA Muni to Treasury Ratio chart to share and discuss
-We’re keeping our eyes on key metrics and what they portend
-Anecdotally, we’re seeing some positive post-COVID signposts

 

10yr AAA Muni to Treasury Ratio

 


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: https://youtu.be/MKMbO9ZI6JM

Have a great weekend
-Matt McAleer & Cumberland Advisors
Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


Israel & Vaccines

Author: David R. Kotok, Post Date: February 19, 2021

Market Commentary - Cumberland Advisors - Israel & Vaccines

Israel: The World’s COVID-19 Vaccination Case Study Imagine a country of 9.3 million with a well-designed vaccine program that has administered 70+ doses of the Pfizer vaccine per every 100 members of its population thus far. Israel’s policy has been to pay a premium for supply and to actively and effectively manage distribution. They recognized the […]


Polar Vortex

Author: David R. Kotok, Post Date: February 18, 2021

Market Commentary - Cumberland Advisors - Polar Vortex

A Feb.16 Bloomberg article delved into the somewhat surprising connection between a warming Arctic and the subzero temperatures and widespread blackouts in Texas: “How the Warming Arctic Helped Drive a Deep Freeze Into Texas,” https://www.bloomberg.com/news/articles/2021-02-16/how-the-warming-arctic-helped-drive-a-deep-freeze-into-texas. We recently featured a guest commentary by Bob Bunting, CEO of the Climate Adaptation Center (CAC), regarding the polar vortex. […]


Equity Risk Premia

Author: Leo Chen, Ph.D., Post Date: February 17, 2021

Market Commentary - Cumberland Advisors - Equity Risk Premia (by Leo Chen)

The US equity market continues to post new all-time highs week after week. While the equity market remains seemingly unstoppable regardless of the lack of fundamental support, many investors wonder how long the Fed-fueled market can go before we have a correction. It would be a fool’s errand to call a correction, but we want […]


Warren Buffett Indicator

Author: David R. Kotok, Post Date: February 16, 2021

Market Commentary - Cumberland Advisors - Warren Buffett Indicator

We include a link that will take the reader to a detailed four-minute essay (with good graphics) on the market value to GDP ratio, otherwise known as the “Warren Buffett indicator.” For a discussion about which market valuation to use, and for insights on whether GDP or GNP is the appropriate reference, we recommend reading the piece […]


Moscow & Presidents Day

Author: David R. Kotok, Post Date: February 14, 2021

Moscow-&-Presidents-Day

America’s January 6th nightmare was replayed for all to see again; previously unknown security video has been added. The Constitutionally prescribed Senate process and the outcome are determined by our system.  And now the national policy debate of who we are and how we do these things is again joined.  Tune in CNN, Fox, MSNBC, Newsmax […]


Struggling with the Pandemic and Brexit in the UK

Author: William Witherell, Ph.D., Post Date: February 12, 2021

Cumberland Advisors Market Commentary by William "Bill" Witherell, Ph.D.

The timing could not have been worse. The United Kingdom exited the European Union on January 1 in the middle of the second wave of the COVID-19 pandemic, which was striking the UK with particular force, driven by a new, more infectious strain. On January 6, the third strict lockdown affecting all parts of the […]


Don’t Fight the Fed — Yet

Author: Chris Whalen & David R. Kotok, Post Date: February 11, 2021

CA-Chris-Whalen-Guest-Commentary-2021

My friend Chris Whalen opened his Feb. 9 missive with profound words: “Don’t Fight the Fed – Yet” (https://www.theinstitutionalriskanalyst.com/post/don-t-fight-the-fed-yet). Here’s why we fully concur. Bullets follow. 1. The Federal Reserve’s policy is clear: above 2% inflation on a sustained averaging trajectory, as measured by year-over-year PCE. We are at least two years away from that […]


Silver

Author: David R. Kotok, Post Date: February 9, 2021

Silver

So now we’ve seen an asset-market reaction to the social media trolling regarding silver. Like GameStop, silver became the flavor of the week. At Cumberland, we don’t own silver. There is one strategy that may own it from time to time, and it doesn’t hold it now. We can also own the miners in ETF […]


Jobs – January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: February 8, 2021

Robert Eisenbeis

Progress in 2021 on one leg of the FOMC’s dual mandate, the jobs situation, has started to be revealed with the release of 5 weeks of data on new unemployment claims for January and the BLS January CES jobs numbers. These data suggest the pandemic is still having a significant negative impact on economic activity […]


Sir Tom Remembered

Author: David R. Kotok, Post Date: February 7, 2021

Sir Tom Remembered Remembering Captain Sir Tom Moore A cancer survivor recovering from a broken hip, Tom Moore looked for a way to say thanks to his National Health Service (NHS) caregivers in England. In the midst of a pandemic, he pondered the enormity of the need and considered what a 99 year old could do to help. […]


GameStop & SKEW!

Authors: Leo Chen Ph.D., David R. Kotok, & Matthew McAleer – Feb 1, 2021

Market Commentary - Cumberland Advisors - GameStop & SKEW!

There were two unusual events last week. One made massive headlines; the other flew under the radar. Unless an investor was on a Martian vacation, it was impossible to avoid the media battering that featured keywords like GameStop, Reddit, Robinhood, Citron, and WallStreetBets. And there was a cash requirement from brokers by DTCC, the stock […]


Veterans, Markets, & Impeachment

Author: David R. Kotok, Post Date: January 31, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-Veterans, Markets & Impeachment

We do not expect financial markets to be influenced by the coming Senate impeachment trial. It appears that most market agents expect the outcome to be a repeat of history, where the two-thirds threshold of a Senate conviction vote is not reached. If it is reached, there may be some market reaction; but we think […]


FOMC, January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: January 29, 2021

Robert Eisenbeis

To no one’s surprise, the FOMC kept its target range for the federal funds rate at 0–.25% and reaffirmed that it will continue adding to its portfolio at the rate of $120 billion per month, in a mix of at least $80 billion in US Treasuries and $40 billion in agency MBS. The Committee’s statement […]


ERP & The Stock Market

Author: David R. Kotok, Post Date:

CA-David-Kotok-Bio-2021

The tall man eats dinner every Tuesday at the same restaurant on 58th St. in NY. He loosens his bowtie after working late on Tuesday nights; he sits at his usual table; he orders the usual meal from the same waiter who has served him for the last 14 years. The waiter, Demetrius, brings the bowl […]


The Polar Vortex Is Coming To A State Near You!

Author: Bob Bunting, Post Date: January 28, 2021

Climate Adaptation Center

At Cumberland, we pay attention to weather trends and phenomena since severe weather and the destruction left in its wake can affect municipal bonds and reconstruction efforts may result in new bond offerings to meet repair and improvement costs. Bob Bunting, CEO of the Climate Adaptation Center (CAC), has given us permission to share his […]


COVID Legal liability & Markets

Author: David R. Kotok, Post Date: January 26, 2021

Market Commentary - Cumberland Advisors - COVID Legal liability & Markets

The political debate over COVID-related liabilities of businesses is intense. Companies want a federal shield, which McConnell-McCarthy haven’t been able to get for them. Trial lawyers want an open target, which Pelosi-Schumer haven’t been able to get for them. A bipartisan Senate group was trying to broker a compromise. (“No Agreement on Covid-Aid Liability Reached,” […]


US vs. China – Competition vs. Conflict

Author: William Witherell, Ph.D., Post Date: January 25, 2021

Market Commentary - Cumberland Advisors - US vs. China – Competition vs. Conflict

China’s economy grew at a 6.5% year-over-year rate in the fourth quarter, bringing growth for the full year 2020 to 2.3%. China’s was the only major economy to expand last year, despite the outbreak of the pandemic and the related economic shutdowns early in the year in China. That positive growth compares with a 3.5% […]

Cumberland Advisors is an Annual Sponsor of GIC

global interdependence center 
 

Fourth Annual Sovereign Debt Restructuring Conference:
Sovereign Debt, Restructuring, & Risk Management in the Post-COVID-19 Era

 

GIC invites you to join them for this virtual program, Friday Feb 26, 2021 from 12:00 PM – 2:00 PM.

The unprecedented contraction in global economic activity from the COVID-19 pandemic drew decisive domestic fiscal and monetary policy measures to ameliorate demand and supply implications, reduce systemic risks, and maintain financial stability. However, medium-term vulnerabilities have risen because of these measures. In particular, sovereign and corporate debt levels have increased amid massive fiscal stimulus spending, contributing to explosive debt accumulation in advance economies, emerging markets, and low-income countries.

This conference will address issues of debt management, sovereign debt, and restructurings in the context of emerging risks in the global economy and provide tangible recommendations in managing debt and dealing with debt resolutions in case of emerging preemptive defaults or post-default situations.

Conference Co-Chairs:

Michael G. Papaioannou, Ph.D., Expert Advisor, International Monetary Fund
George Tsetsekos, Ph.D., GIC Secretary, Francis Professor of Finance and Dean Emeritus at LeBow’s College of Business at Drexel University

Click here for complimentary registration.

 


COVID-19 Education for Frontline Nurses

 USF’s (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is online. The program is free for any nurse anywhere in the world developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Program link and details: https://health.usf.edu/nursing/frontline-nursing


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 02/20/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20210212

Cumberland Advisors Week in Review (Feb 08, 2021 – Feb 12, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Market Commentary - Cumberland Advisors - Week in Review - Saturday Recap 2021

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


 

Matt McAleer & Equities / ETFs

-Never enough of your best trade! Matt details.
-This week we have a chart to share with you (see below).
-What worries us? A spike!
-Demand for munis continues

Dorsey Wright Chart


John Mousseau & Fixed Income / Munis

-Déjà vu. This week looks pretty familiar. John details.
-John talks about the “muni crush”
-Do people sense higher taxes down the road?
-Jobless claims disapointing this week.
-CPI – holding steady. Going a year out? Expectations are greater.
-Have a great Presidents Day Weekend!


Reminder: John presents at the MoneyShow, Feb 16th 2pm-4pm EST with a talk titled “Bond Markets through the Pandemic, the Election, and into 2021.” Learn more here: https://buff.ly/2LpDFxJ

John Mousseau talk titled "Bond Markets through the Pandemic, the Election, and into 2021"

 


Special Message from Matt: Meet Charles Metzler!

Charles Metzler

Charlie is our newest investment advisor. He is a University of Missouri Finance Major and he resides here in Sarasota, FL where our HQ is located.  Charles has passed his first level CFA, and he’s earned his CFP. Initially, he’ll be helping us internally with a variety of client enhancing tasks taking advantage of his robust skill set. We invite you to say hello via email or in person if you stop by the office.

 


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: https://youtu.be/azeiRoguTBg

Have a great weekend
-Matt McAleer & Cumberland Advisors

 

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


 


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


Struggling with the Pandemic and Brexit in the UK

Author: William Witherell, Ph.D., Post Date: February 12, 2021

Cumberland Advisors Market Commentary by William "Bill" Witherell, Ph.D.

The timing could not have been worse. The United Kingdom exited the European Union on January 1 in the middle of the second wave of the COVID-19 pandemic, which was striking the UK with particular force, driven by a new, more infectious strain. On January 6, the third strict lockdown affecting all parts of the […]


Don’t Fight the Fed — Yet

Author: Chris Whalen & David R. Kotok, Post Date: February 11, 2021

CA-Chris-Whalen-Guest-Commentary-2021

My friend Chris Whalen opened his Feb. 9 missive with profound words: “Don’t Fight the Fed – Yet” (https://www.theinstitutionalriskanalyst.com/post/don-t-fight-the-fed-yet). Here’s why we fully concur. Bullets follow. 1. The Federal Reserve’s policy is clear: above 2% inflation on a sustained averaging trajectory, as measured by year-over-year PCE. We are at least two years away from that […]


Silver

Author: David R. Kotok, Post Date: February 9, 2021

Silver

So now we’ve seen an asset-market reaction to the social media trolling regarding silver. Like GameStop, silver became the flavor of the week. At Cumberland, we don’t own silver. There is one strategy that may own it from time to time, and it doesn’t hold it now. We can also own the miners in ETF […]


Jobs – January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: February 8, 2021

Robert Eisenbeis

Progress in 2021 on one leg of the FOMC’s dual mandate, the jobs situation, has started to be revealed with the release of 5 weeks of data on new unemployment claims for January and the BLS January CES jobs numbers. These data suggest the pandemic is still having a significant negative impact on economic activity […]


Sir Tom Remembered

Author: David R. Kotok, Post Date: February 7, 2021

Sir Tom Remembered Remembering Captain Sir Tom Moore A cancer survivor recovering from a broken hip, Tom Moore looked for a way to say thanks to his National Health Service (NHS) caregivers in England. In the midst of a pandemic, he pondered the enormity of the need and considered what a 99 year old could do to help. […]


GameStop & SKEW!

Authors: Leo Chen Ph.D., David R. Kotok, & Matthew McAleer – Feb 1, 2021

Market Commentary - Cumberland Advisors - GameStop & SKEW!

There were two unusual events last week. One made massive headlines; the other flew under the radar. Unless an investor was on a Martian vacation, it was impossible to avoid the media battering that featured keywords like GameStop, Reddit, Robinhood, Citron, and WallStreetBets. And there was a cash requirement from brokers by DTCC, the stock […]


Veterans, Markets, & Impeachment

Author: David R. Kotok, Post Date: January 31, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-Veterans, Markets & Impeachment

We do not expect financial markets to be influenced by the coming Senate impeachment trial. It appears that most market agents expect the outcome to be a repeat of history, where the two-thirds threshold of a Senate conviction vote is not reached. If it is reached, there may be some market reaction; but we think […]


FOMC, January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: January 29, 2021

Robert Eisenbeis

To no one’s surprise, the FOMC kept its target range for the federal funds rate at 0–.25% and reaffirmed that it will continue adding to its portfolio at the rate of $120 billion per month, in a mix of at least $80 billion in US Treasuries and $40 billion in agency MBS. The Committee’s statement […]


ERP & The Stock Market

Author: David R. Kotok, Post Date:

CA-David-Kotok-Bio-2021

The tall man eats dinner every Tuesday at the same restaurant on 58th St. in NY. He loosens his bowtie after working late on Tuesday nights; he sits at his usual table; he orders the usual meal from the same waiter who has served him for the last 14 years. The waiter, Demetrius, brings the bowl […]


The Polar Vortex Is Coming To A State Near You!

Author: Bob Bunting, Post Date: January 28, 2021

Climate Adaptation Center

At Cumberland, we pay attention to weather trends and phenomena since severe weather and the destruction left in its wake can affect municipal bonds and reconstruction efforts may result in new bond offerings to meet repair and improvement costs. Bob Bunting, CEO of the Climate Adaptation Center (CAC), has given us permission to share his […]


COVID Legal liability & Markets

Author: David R. Kotok, Post Date: January 26, 2021

Market Commentary - Cumberland Advisors - COVID Legal liability & Markets

The political debate over COVID-related liabilities of businesses is intense. Companies want a federal shield, which McConnell-McCarthy haven’t been able to get for them. Trial lawyers want an open target, which Pelosi-Schumer haven’t been able to get for them. A bipartisan Senate group was trying to broker a compromise. (“No Agreement on Covid-Aid Liability Reached,” […]


US vs. China – Competition vs. Conflict

Author: William Witherell, Ph.D., Post Date: January 25, 2021

Market Commentary - Cumberland Advisors - US vs. China – Competition vs. Conflict

China’s economy grew at a 6.5% year-over-year rate in the fourth quarter, bringing growth for the full year 2020 to 2.3%. China’s was the only major economy to expand last year, despite the outbreak of the pandemic and the related economic shutdowns early in the year in China. That positive growth compares with a 3.5% […]


A message from David R. Kotok…

COVID-19 Education for Frontline Nurses

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Cumberland Advisors - Frontline Nurses - The USF Program and Why To Do It

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 02/13/2021 arrow Watch Video arrow

Cumberland Advisors Week in Review (Feb 01, 2021 – Feb 05, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Market Commentary - Cumberland Advisors - Week in Review - Saturday Recap 2021

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


 

John Mousseau & Fixed Income / Munis

-Bond Yields higher this week- John details the “why” behind the numbers
-Employments numbers are not where we’d like yet still positive
-Positive Yield Curve
-Muni Bond Yields this week were flat, John adds some color
-John talks about inflation and what’s behind projections
-John will be presenting at the MoneyShow next week, Feb 16th 2pm-4pm EST with a talk titled “Bond Markets through the Pandemic, the Election, and into 2021.” Learn more here: https://buff.ly/2LpDFxJ

 


John Mousseau talk titled "Bond Markets through the Pandemic, the Election, and into 2021"

Matt McAleer & Equities / ETFs

-Seeing strength across the board this week
-Many emails and calls in response to our update last week
-Matt recaps the importance of last week’s events and where we are today
-Is any of this new? Matt takes us through some history and fundamentals he feels you should take to heart.
-What things will cause you trouble?
-What’s your enemy in trading?
-If anything is foreign to you that Matt mentions, email him for details
-Who is “The Man” mentioned so often in forums about Wall Street and the Trading World?
-Matt leaves us with “Focus on the markets, focus on your capital.”

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: https://youtu.be/If3bXB-LEVw

Have a great weekend
-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


CUMBERLAND COMMENT: Municipal Credit 2020 & Beyond
by Patricia Healy – Herald Tribune – Feb 01, 2021

In the depths of the muni market plunge back in March, many feared that the sky had fallen and that municipalities would not be able to manage their services and debt repayment.

The initial fall in prices was due to a collapse of liquidity, when muni money market funds had no one to sell to – until the Fed stepped in. Concern lingered because no one knew what the pandemic would bring. The Cumberland Despair Index combines the COVID-19 infection rate of a municipality with its unemployment rate – and in some cases this is a big number. The index highlights possible stress and helps to direct our analysis.

Those who are familiar with the municipal market know that municipalities are resilient and have tools to manage through a crisis. Additionally, by means of the CARES Act, the federal government stepped in to support the increased costs of the pandemic and to provide additional relief to businesses and individuals to “get over the hump.”

Continued at the Herald Tribune: https://www.heraldtribune.com/story/business/briefs/2021/02/01/patricia-healy-municipal-credit-2020-and-beyond/4261819001/


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


GameStop & SKEW!

Authors: Leo Chen Ph.D., David R. Kotok, & Matthew McAleer – Feb 1, 2021

Market Commentary - Cumberland Advisors - GameStop & SKEW!

There were two unusual events last week. One made massive headlines; the other flew under the radar. Unless an investor was on a Martian vacation, it was impossible to avoid the media battering that featured keywords like GameStop, Reddit, Robinhood, Citron, and WallStreetBets. And there was a cash requirement from brokers by DTCC, the stock […]


Veterans, Markets, & Impeachment

Author: David R. Kotok, Post Date: January 31, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-Veterans, Markets & Impeachment

We do not expect financial markets to be influenced by the coming Senate impeachment trial. It appears that most market agents expect the outcome to be a repeat of history, where the two-thirds threshold of a Senate conviction vote is not reached. If it is reached, there may be some market reaction; but we think […]


FOMC, January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: January 29, 2021

Robert Eisenbeis

To no one’s surprise, the FOMC kept its target range for the federal funds rate at 0–.25% and reaffirmed that it will continue adding to its portfolio at the rate of $120 billion per month, in a mix of at least $80 billion in US Treasuries and $40 billion in agency MBS. The Committee’s statement […]


ERP & The Stock Market

Author: David R. Kotok, Post Date:

CA-David-Kotok-Bio-2021

The tall man eats dinner every Tuesday at the same restaurant on 58th St. in NY. He loosens his bowtie after working late on Tuesday nights; he sits at his usual table; he orders the usual meal from the same waiter who has served him for the last 14 years. The waiter, Demetrius, brings the bowl […]


The Polar Vortex Is Coming To A State Near You!

Author: Bob Bunting, Post Date: January 28, 2021

Climate Adaptation Center

At Cumberland, we pay attention to weather trends and phenomena since severe weather and the destruction left in its wake can affect municipal bonds and reconstruction efforts may result in new bond offerings to meet repair and improvement costs. Bob Bunting, CEO of the Climate Adaptation Center (CAC), has given us permission to share his […]


COVID Legal liability & Markets

Author: David R. Kotok, Post Date: January 26, 2021

Market Commentary - Cumberland Advisors - COVID Legal liability & Markets

The political debate over COVID-related liabilities of businesses is intense. Companies want a federal shield, which McConnell-McCarthy haven’t been able to get for them. Trial lawyers want an open target, which Pelosi-Schumer haven’t been able to get for them. A bipartisan Senate group was trying to broker a compromise. (“No Agreement on Covid-Aid Liability Reached,” […]


US vs. China – Competition vs. Conflict

Author: William Witherell, Ph.D., Post Date: January 25, 2021

Market Commentary - Cumberland Advisors - US vs. China – Competition vs. Conflict

China’s economy grew at a 6.5% year-over-year rate in the fourth quarter, bringing growth for the full year 2020 to 2.3%. China’s was the only major economy to expand last year, despite the outbreak of the pandemic and the related economic shutdowns early in the year in China. That positive growth compares with a 3.5% […]


Palindromes

Author: David R. Kotok, Post Date: January 24, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-Palindromes

When I was in the first grade, my teacher said, “David, do you know what you are?” She was reading my last name. In the second grade, the same thing happened. By the fifth grade, I could deliver the lecture: “I’m a palindrome.” The word originates with the Greek palindromos, which means running back again. […]


Week in Review (Jan 18, 2021 – Jan 22, 2021)

Author: Cumberland Advisors, Post Date: January 23, 2021

Cumberland-Advisors-Market-Update-20210122

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.


Fed Attack Responses

Author: David R. Kotok, Post Date: January 21, 2021

Fed Attack Responses

Fed Attack Responses We promised we would present responses to our “Attack on the Fed” discussion (https://www.cumber.com/cumberland-advisors-market-commentary-attack-on-the-fed-market-reaction-a-one-day-saga/). But before we do, we must offer an apology to Senator Pat Toomey, whom we criticized in that commentary for appearing to attempt to limit the Federal Reserve’s emergency lending authority. The back story reveals that Senator Toomey […]


Cash!

Author: David R. Kotok, Post Date: January 19, 2021

CA-Market-Commentary-Cash-by-Kotok We would like to suggest that readers take time to read Josh Brown’s December 29 column at The Reformed Broker, “How to avoid bear markets” (https://thereformedbroker.com/2020/12/29/how-to-avoid-bear-markets/). We thank Josh’s colleague Barry Ritholtz for including it in the daily Ritholtz Reads column. Here’s a summary excerpt from Barry Ritholtz’s daily column (January 2, 2020): “There’s a very simple way […]


A message from David R. Kotok…

Frontline Nurses: The USF Program & Why To Do It

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Cumberland Advisors - Frontline Nurses - The USF Program and Why To Do It

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 02/06/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20210129

Cumberland Advisors Week in Review (Jan 25, 2021 – Jan 29, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Market Commentary - Cumberland Advisors - Week in Review - Saturday Recap 2021

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


 

Matt McAleer & Equities / ETFs
-Lots of headlines
-We reiterate over and over: What can go right? What can go wrong?
-Take your eye off those scenarios and your performance tends to wane
-What blew up this week and why?
-We talk about the mechanics behind the week’s headlines
-A keen point we underscore: who is in the position with you?
-The market is a beautiful gauge of who ignores risk
-What did we do this week? Matt details this and elaborates on “feeding the ducks.”
-How about systemic risk? What do we look at?
-Keep your head on straight, understand risk/reward, and see you next week!

John Mousseau & Fixed Income / Munis
-Quiet week in Bond Market
-What do we make of the spread between Treasurys and Munis? And does the Bond Market care about what’s happening in equities?
-What would a tax hike do to markets?
-Employment numbers and spending bills are something to watch

We had two commentaries go out Friday and they’re linked here in case you missed them or aren’t a subscriber:
1) ERP & The Stock Market by David R. Kotok
2) FOMC, January 2021 by Robert Eisenbeis, Ph.D.

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: https://youtu.be/U9KCUn_LtQ0

Have a great weekend
-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


FOMC, January 2021

Author: Robert Eisenbeis, Ph.D., Post Date: January 29, 2021

Robert Eisenbeis

To no one’s surprise, the FOMC kept its target range for the federal funds rate at 0–.25% and reaffirmed that it will continue adding to its portfolio at the rate of $120 billion per month, in a mix of at least $80 billion in US Treasuries and $40 billion in agency MBS. The Committee’s statement […]


ERP & The Stock Market

Author: David R. Kotok, Post Date:

CA-David-Kotok-Bio-2021

The tall man eats dinner every Tuesday at the same restaurant on 58th St. in NY. He loosens his bowtie after working late on Tuesday nights; he sits at his usual table; he orders the usual meal from the same waiter who has served him for the last 14 years. The waiter, Demetrius, brings the bowl […]


The Polar Vortex Is Coming To A State Near You!

Author: Bob Bunting, Post Date: January 28, 2021

Climate Adaptation Center

At Cumberland, we pay attention to weather trends and phenomena since severe weather and the destruction left in its wake can affect municipal bonds and reconstruction efforts may result in new bond offerings to meet repair and improvement costs. Bob Bunting, CEO of the Climate Adaptation Center (CAC), has given us permission to share his […]


COVID Legal liability & Markets

Author: David R. Kotok, Post Date: January 26, 2021

Market Commentary - Cumberland Advisors - COVID Legal liability & Markets

The political debate over COVID-related liabilities of businesses is intense. Companies want a federal shield, which McConnell-McCarthy haven’t been able to get for them. Trial lawyers want an open target, which Pelosi-Schumer haven’t been able to get for them. A bipartisan Senate group was trying to broker a compromise. (“No Agreement on Covid-Aid Liability Reached,” […]


US vs. China – Competition vs. Conflict

Author: William Witherell, Ph.D., Post Date: January 25, 2021

Market Commentary - Cumberland Advisors - US vs. China – Competition vs. Conflict

China’s economy grew at a 6.5% year-over-year rate in the fourth quarter, bringing growth for the full year 2020 to 2.3%. China’s was the only major economy to expand last year, despite the outbreak of the pandemic and the related economic shutdowns early in the year in China. That positive growth compares with a 3.5% […]


Palindromes

Author: David R. Kotok, Post Date: January 24, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-Palindromes

When I was in the first grade, my teacher said, “David, do you know what you are?” She was reading my last name. In the second grade, the same thing happened. By the fifth grade, I could deliver the lecture: “I’m a palindrome.” The word originates with the Greek palindromos, which means running back again. […]


Week in Review (Jan 18, 2021 – Jan 22, 2021)

Author: Cumberland Advisors, Post Date: January 23, 2021

Cumberland-Advisors-Market-Update-20210122

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.


Fed Attack Responses

Author: David R. Kotok, Post Date: January 21, 2021

Fed Attack Responses

Fed Attack Responses We promised we would present responses to our “Attack on the Fed” discussion (https://www.cumber.com/cumberland-advisors-market-commentary-attack-on-the-fed-market-reaction-a-one-day-saga/). But before we do, we must offer an apology to Senator Pat Toomey, whom we criticized in that commentary for appearing to attempt to limit the Federal Reserve’s emergency lending authority. The back story reveals that Senator Toomey […]


Cash!

Author: David R. Kotok, Post Date: January 19, 2021

CA-Market-Commentary-Cash-by-Kotok We would like to suggest that readers take time to read Josh Brown’s December 29 column at The Reformed Broker, “How to avoid bear markets” (https://thereformedbroker.com/2020/12/29/how-to-avoid-bear-markets/). We thank Josh’s colleague Barry Ritholtz for including it in the daily Ritholtz Reads column. Here’s a summary excerpt from Barry Ritholtz’s daily column (January 2, 2020): “There’s a very simple way […]


A Sunday Potpourri

Author: David R. Kotok, Post Date: January 17, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-A Sunday Potpourri This Sunday morning, we would like to whisk you away from the world of politics for a few minutes. First, we’ll consider the outsized consequences of acting without thinking. We thank Bill D. for forwarding this 30-second clip: “Why we don’t do fireworks at Christmas,” https://www.youtube.com/watch?v=ycviJ-421Z8 Second, we offer, as a counterpoint, an extraordinary human […]


Week in Review (Jan 11, 2021 – Jan 15, 2021)

Author: Cumberland Advisors, Post Date: January 16, 2021

Cumberland-Advisors-Market-Update-20210115(NEW)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team. These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback […]


JOLTS and a Sobering View of Labor Market Conditions

Author: Robert Eisenbeis, Ph.D., Post Date: January 15, 2021

Robert Eisenbeis Although the news is somewhat stale, the January 12 release of the BLS’s Job Openings and Labor Turnover Survey (JOLTS) for November provides some additional information about the underlying dynamics of the labor market as we approached the December virus surge. The picture we see reflects some calming in the labor market after a huge […]


The Blue Wave & What is Means for the Bond Markets:

https://www.cumber.com/cumberland-advisors-market-commentary-the-blue-wave-and-the-bond-markets/

CA-John-R-Mousseau-The Blue Wave and the Bond Markets


A message from David R. Kotok…

Frontline Nurses: The USF Program & Why To Do It

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Cumberland Advisors - Frontline Nurses - The USF Program and Why To Do It

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 01/30/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20210122

Cumberland Advisors Week in Review (Jan 18, 2021 – Jan 22, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

Market Commentary - Cumberland Advisors - Week in Review - Saturday Recap 2021

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


 

Matt McAleer & Equities / ETFs
-AAA

John Mousseau & Fixed Income / Munis
-AAA

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: https://youtu.be/k9s-2nEh8Cs

 

-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


A message from David R. Kotok…

Frontline Nurses: The USF Program & Why To Do It

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Frontline Nurses USF Program

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


Fed Attack Responses

Author: David R. Kotok, Post Date: January 21, 2021

Fed Attack Responses

Fed Attack Responses We promised we would present responses to our “Attack on the Fed” discussion (https://www.cumber.com/cumberland-advisors-market-commentary-attack-on-the-fed-market-reaction-a-one-day-saga/). But before we do, we must offer an apology to Senator Pat Toomey, whom we criticized in that commentary for appearing to attempt to limit the Federal Reserve’s emergency lending authority. The back story reveals that Senator Toomey […]


Cash!

Author: David R. Kotok, Post Date: January 19, 2021

CA-Market-Commentary-Cash-by-Kotok We would like to suggest that readers take time to read Josh Brown’s December 29 column at The Reformed Broker, “How to avoid bear markets” (https://thereformedbroker.com/2020/12/29/how-to-avoid-bear-markets/). We thank Josh’s colleague Barry Ritholtz for including it in the daily Ritholtz Reads column. Here’s a summary excerpt from Barry Ritholtz’s daily column (January 2, 2020): “There’s a very simple way […]


A Sunday Potpourri

Author: David R. Kotok, Post Date: January 17, 2021

Market-Commentary-Cumberland-Advisors-David-Sunday-A Sunday Potpourri This Sunday morning, we would like to whisk you away from the world of politics for a few minutes. First, we’ll consider the outsized consequences of acting without thinking. We thank Bill D. for forwarding this 30-second clip: “Why we don’t do fireworks at Christmas,” https://www.youtube.com/watch?v=ycviJ-421Z8 Second, we offer, as a counterpoint, an extraordinary human […]


Week in Review (Jan 11, 2021 – Jan 15, 2021)

Author: Cumberland Advisors, Post Date: January 16, 2021

Cumberland-Advisors-Market-Update-20210115(NEW)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team. These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback […]


JOLTS and a Sobering View of Labor Market Conditions

Author: Robert Eisenbeis, Ph.D., Post Date: January 15, 2021

Robert Eisenbeis Although the news is somewhat stale, the January 12 release of the BLS’s Job Openings and Labor Turnover Survey (JOLTS) for November provides some additional information about the underlying dynamics of the labor market as we approached the December virus surge. The picture we see reflects some calming in the labor market after a huge […]


South Africa Facing a Resurgence of the Virus

Author: William Witherell, Ph.D., Post Date: January 14, 2021

Cumberland Advisors Market Commentary by William "Bill" Witherell, Ph.D.

In recent weeks, a new and more contagious variant of COVID-19 has been surging in South Africa, with per capita new infections and deaths approaching the globally leading rates being experienced in the UK and the USA. While on December 26 the seven-day rolling average of new South African cases per 100,000 people was 19.86, […]


Markets and Another Impeachment

Author: David R. Kotok, Post Date: January 13, 2021

CA-David-Kotok-Bio-2021

The response of the markets to a potential second impeachment of President Trump is impossible to predict now. History shows why this may not be a market moving event. The new Senate under Schumer will decide what to do with Speaker Pelosi’s new articles of impeachment. How and when is not clear. In the meantime […]


In-The-News-Banner

Wall Street rallies as Biden enters the White House

Quoted: David R. Kotok | Posted on: 01/21/2021 read more

Recovery hopes help markets start with a pop

Quoted: David R. Kotok | Posted on: 01/07/2021 read more

Muni market unperturbed amid mob violence in U.S. Capitol

Quoted: John R. Mousseau | Posted on: 01/06/2021 read more

David Kotok on the Markets (Bloomberg Radio)

Quoted: David R. Kotok | Posted on: 01/05/2021 read more

Munis flat as traders look ahead to next year’s supply slate

Quoted: John R. Mousseau, CFA | Posted on: 01/01/2021 read more


The Blue Wave & What is Means for the Bond Markets:

https://www.cumber.com/cumberland-advisors-market-commentary-the-blue-wave-and-the-bond-markets/

The Blue Wave and the Bond Markets


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 01/23/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20210115(NEW)

Cumberland Advisors Week in Review (Jan 11, 2021 – Jan 15, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


Matt McAleer & Equities / ETFs
-We’re seeing a little pullback this week, Matt explains.
-Sectors? Strategies? Matt details.
-Good performance news by some names in banks last night. Today, we’re seeing a selloff on the news, nothing unexpected.
-We look to buy on pullbacks.
-Alternative Energy? Solar, Wind, Water has performed well for us since David Kotok directed trades here.
-Energy? Best performing sector this week.
-Yield can be a big dictator of money flows. This might be what’s happening in Energy.
-Monday is MLK Day and Cumberland Advisors will be closed. Observed each year on the third Monday in January as “a day on, not a day off,” the Martin Luther King Jr. holiday is the only federal holiday designated as a “national day of service” to encourage all Americans to volunteer to improve their communities. Learn more at the AmeriCorps website: https://americorps.gov/newsroom/events/mlk-dayJohn Mousseau & Fixed Income / Munis
-Quiet week in bond market
-10yr and 30yr bond down a little this week, we think due to jobless claims being higher than expected
-Biden announced this week a future stimulus package (almost two trillion) that will benefit municipalities, a feature that has been missing until now. The final package is expected to be smaller than announced but still substantial.
-Inflation? Pretty well behaved. As we move toward summer, numbers will move higher along with expectations.
-We have a new look at Cumberland! A new logo has been adopted for the future, something we don’t do very often.
-There have only been a few logo changes since David R. Kotok co-founded the firm in 1973, so we’re excited to share this with you.
Cumberland Advisors

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: https://youtu.be/kmRrK0smsTI

-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


In the News…

 

Recovery hopes help markets start with a pop

Quoted: David R. Kotok | Posted on: 01/07/2021 read more

Muni market unperturbed amid mob violence in U.S. Capitol

Quoted: John R. Mousseau | Posted on: 01/06/2021 read more

David Kotok on the Markets (Bloomberg Radio)

Quoted: David R. Kotok | Posted on: 01/05/2021 read more

Munis flat as traders look ahead to next year’s supply slate

Quoted: John R. Mousseau, CFA | Posted on: 01/01/2021 read more


A message from David R. Kotok

Frontline Nurses: The USF Program & Why To Do It

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Frontline Nurses USF Program

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


 JOLTS and a Sobering View of Labor Market Conditions

Author: Robert Eisenbeis, Ph.D., Post Date: January 15, 2021

Robert Eisenbeis Although the news is somewhat stale, the January 12 release of the BLS’s Job Openings and Labor Turnover Survey (JOLTS) for November provides some additional information about the underlying dynamics of the labor market as we approached the December virus surge. The picture we see reflects some calming in the labor market after a huge […]


South Africa Facing a Resurgence of the Virus

Author: William Witherell, Ph.D., Post Date: January 14, 2021

Cumberland Advisors Market Commentary by William "Bill" Witherell, Ph.D. In recent weeks, a new and more contagious variant of COVID-19 has been surging in South Africa, with per capita new infections and deaths approaching the globally leading rates being experienced in the UK and the USA. While on December 26 the seven-day rolling average of new South African cases per 100,000 people was 19.86, […]


Markets and Another Impeachment

Author: David R. Kotok, Post Date: January 13, 2021

CA-David-Kotok-Bio-2021 The response of the markets to a potential second impeachment of President Trump is impossible to predict now. History shows why this may not be a market moving event. The new Senate under Schumer will decide what to do with Speaker Pelosi’s new articles of impeachment. How and when is not clear. In the meantime […]


Jobs, As the New Year Begins

Author: Robert Eisenbeis, Ph.D., Post Date: January 12, 2021

Robert Eisenbeis The jobs numbers released this week provide a sobering view of the pace of the recovery and provide clear evidence as to what we can expect from the FOMC. The Committee’s new strategy focuses on ensuring maximum employment, with policy designed to minimize downside deviations from that what the Committee views as full employment. The […]


Q4 Quarterly Credit Commentary – Municipal Credit 2020 and Beyond

Author: Patricia Healy, CFA, Post Date: January 11, 2021

Patricia Healy In the depths of the muni market plunge back in March, many feared that the sky had fallen and that municipalities would not be able to manage their services and debt repayment. The initial fall in prices was due to a collapse of liquidity, when muni money market funds had no one to sell to […]


Mourning

Author: David R. Kotok, Post Date: January 10, 2021

Mourning When we mourn for a person, that is a certain kind of experience. Lose an aged parent and you feel the loss. But that loss is also a part of a repeating life cycle. Lose a pet? Not the same, but there is a sense of loss of a different type. But lose an idea? […]


Author: John R. Mousseau, CFA, Post Date: January 8, 2021

CA-John-R-Mousseau-The Blue Wave and the Bond Markets

The Democrat Party won both Senate seats in Georgia on Tuesday, January 5th. Our own math had a split decision, with each party capturing a Senate seat; but with the sweep the Democrats will now control the White House, the House of Representatives, and the Senate, where a 50-50 split will now be broken by […]


Census Update

Author: David R. Kotok, Post Date: January 7, 2021

CA-David-Kotok-Portrait-With-Title-Blue-2020

According to the Brookings Institution, “Newly released Census Bureau population estimates through mid-year 2020 reveal record lows in U.S. population growth, both annually and for the 2010-to-2020 decade…. “The new estimates indicate that over the period from July 1, 2019 to July 1, 2020, the nation grew by just 0.35%. This is the lowest annual […]


Breakeven Inflation

Author: Robert Eisenbeis, Ph.D., Post Date: January 6, 2021

Robert Eisenbeis

In a recent review of fixed-income security returns, Cumberland Chairman, David Kotok, raised a question concerning what looked to him to be an anomaly with respect to the spread between the 5-year and 10-year breakeven inflation rates on US Treasures, which had narrowed to only 5 basis points. Both market-based measures of inflation expectations, calculated […]


Attack on the Fed, Market Reaction: A One-Day Saga

Author: David R. Kotok, Post Date: January 5, 2021

CA-David-Kotok-Portrait-With-Title-Blue-2020

Dear readers, we narrowly avoided a catastrophe. I use that word because an action by Congress to eliminate or neuter the power of the central bank to intervene as lender of last resort in a crisis is exactly the way to create a catastrophe. The 1929–1933 period of American history is evidence of how a […]


A message from David R. Kotok

Frontline Nurses: The USF Program & Why To Do It

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Frontline Nurses USF Program

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 01/16/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20210108

Cumberland Advisors Week in Review (Jan 04, 2021 – Jan 08, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.Week In Review

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.


Matt McAleer & Equities / ETFs
-Strong week across the board
-Nice bid internationally
-Emerging and developed markets doubled the S&P & Qs here
-Market ignored politics from a price standpoint this week
-Extreme politics can undermine confidence in markets. We’re not seeing that yet.
-Let’s keep our eyes on interest rates
-The rise in interest rates this week changing some risk/reward dynamics

John Mousseau & Fixed Income / Munis
-Georgia Senators now Democrat
-What did turmoil this week mean to the bond market?
-Blue wave underlining an expectation of spending/stimulus
-10yr bond yield up 18 ticks, 30yr nond yield up 23 ticks
-Yield Curve has become steeper
-Inflation expectations are picking up. Expectations in the bond markets is just as important as outright inflation itself.
-Muni Bond yields? Not much of an uptick. They continue to be in demand with expectations of tax rates going up in the future.
-Muni Bond supply expected to increase, maybe a flood of supply this late winter, early spring.
-We’re fairly defensively positioned right now and we’re looking to take advantage of an increase new issuance.
-Municipal Credit looks good going forward and an expectation of an infrastructure program under a Biden government
-We’re watching the CPI closely
-Have a good weekend after this tumultuous week
-I’d appreciate it if you’d read my commentary if you haven’t already, The Blue Wave and the Bond Markets, which you can find here:
https://www.cumber.com/cumberland-advisors-market-commentary-the-blue-wave-and-the-bond-markets/

The Blue Wave and the Bond Markets

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: https://youtu.be/k9s-2nEh8Cs

-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


In the News…

 

Recovery hopes help markets start with a pop

Quoted: David R. Kotok | Posted on: 01/07/2021 read more

Muni market unperturbed amid mob violence in U.S. Capitol

Quoted: John R. Mousseau | Posted on: 01/06/2021 read more

David Kotok on the Markets (Bloomberg Radio)

Quoted: David R. Kotok | Posted on: 01/05/2021 read more

Munis flat as traders look ahead to next year’s supply slate

Quoted: John R. Mousseau, CFA | Posted on: 01/01/2021 read more


A message from David R. Kotok

Frontline Nurses: The USF Program & Why To Do It

Now, there’s a new USF (University of South Florida) program for nurses, “Frontline Nursing During COVID-19: A New Paradigm,” is coming online. It includes four webinars and focuses on helping nurses, who dedicate their careers to caring for others, to take care of themselves in the midst of and beyond the crisis.

The program is free for any nurse anywhere in the world and especially in the United States. It was developed by the USF College of Nursing. It will give nurses continuing education credits, and it will do so at zero cost to the nurses who sign up.

Here’s the program link and the details: https://health.usf.edu/nursing/frontline-nursing

Frontline Nurses USF Program

Please share the link and spread the word about this program. We want to protect our nurses. We want them alive and healthy. The ancient words apply: “If you save a single life, it is as if you have saved the entire world.” Join me, and let’s try to save nurses’ lives and patients’ lives, too.


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


The Blue Wave and the Bond Markets

Author: John R. Mousseau, CFA, Post Date: January 8, 2021

CA-John-R-Mousseau-The Blue Wave and the Bond Markets

The Democrat Party won both Senate seats in Georgia on Tuesday, January 5th. Our own math had a split decision, with each party capturing a Senate seat; but with the sweep the Democrats will now control the White House, the House of Representatives, and the Senate, where a 50-50 split will now be broken by […]


Census Update

Author: David R. Kotok, Post Date: January 7, 2021

CA-David-Kotok-Portrait-With-Title-Blue-2020

According to the Brookings Institution, “Newly released Census Bureau population estimates through mid-year 2020 reveal record lows in U.S. population growth, both annually and for the 2010-to-2020 decade…. “The new estimates indicate that over the period from July 1, 2019 to July 1, 2020, the nation grew by just 0.35%. This is the lowest annual […]


Breakeven Inflation

Author: Robert Eisenbeis, Ph.D., Post Date: January 6, 2021

Cumberland Advisors' Robert "Bob" Eisenbeis, Ph.D.

In a recent review of fixed-income security returns, Cumberland Chairman, David Kotok, raised a question concerning what looked to him to be an anomaly with respect to the spread between the 5-year and 10-year breakeven inflation rates on US Treasures, which had narrowed to only 5 basis points. Both market-based measures of inflation expectations, calculated […]


Attack on the Fed, Market Reaction: A One-Day Saga

Author: David R. Kotok, Post Date: January 5, 2021

CA-David-Kotok-Portrait-With-Title-Blue-2020

Dear readers, we narrowly avoided a catastrophe. I use that word because an action by Congress to eliminate or neuter the power of the central bank to intervene as lender of last resort in a crisis is exactly the way to create a catastrophe. The 1929–1933 period of American history is evidence of how a […]


Politics: Aaarrgh!

Author: David R. Kotok, Post Date: December 30, 2020

Market Commentary - Cumberland Advisors - Politics Aaarrgh!

About 20 million people in America were at sharply increased financial risk if Trump hadn’t signed the new stimulus bill. I asked Mike Englund of Action Economics for a breakdown. Here’s what he sent. “This is taken straight from the initial claims report from the DOL: Unemployment Insurance Benefits in All Programs Week ending December […]


Taxable Total Return 4th Quarter Review

Author: Daniel Himelberger, Post Date: December 29, 2020

Cumberland Advisors - Dan Himelberger - Portfolio Manager & Fixed Income Analyst

The buildup to and launch of a COVID-19 vaccine during the fourth quarter of 2020 led to record highs being set in the stock market and a steeper Treasury yield curve. The news of the vaccine also benefits spreads on investment-grade corporates and taxable municipals. These spreads continue to grind lower from their highs earlier […]


The Long Strange Trip of the Muni Market in 2020

Author: John R. Mousseau, CFA, Post Date: December 28, 2020

CA-Market-Commentary - The Long Strange Trip of the Muni Market in 2020 - Mousseau

Sometimes the light’s all shinin’ on me Other times I can barely see Lately it occurs to me What a long strange trip it’s been “Truckin,” by the Grateful Dead (Lyrics by Robert Hunter)   Those great lines from a great song sum up the 2020 investment year in general and particularly in munis, as […]


Ave Maria & More

Author: David R. Kotok, Post Date: December 27, 2020

Market-Commentary-Cumberland-Advisors-David-Sunday-Ave-Maria-&-More

We hope that you’ve made the most of your holidays during this extraordinary year and have found safe ways to connect with family and friends. On this Sunday poised just before the new year, we would like to wish you and yours a better and brighter 2021. We are hopeful although, we know that we […]


International Equities at Year-end 2020 & the Promise Ahead

Author: Bill Witherell, Ph.D., Post Date: December 23, 2020

Market Commentary - Cumberland Advisors - International Equities at Year-end 2020 and the Promise Ahead by William Witherell, Ph.D.

During March and April of this year, the global economy and equity markets were hit with a severe shock from the COVID-19 pandemic and the widespread lockdown measures governments imposed in response. In May and June, the spread of infection lessened in many economies, lockdowns were largely ended, and restrictions eased. Equity markets started a […]


CIO Overview – 2021 Market & Macro Outlook

Author: David R. Kotok, Post Date: December 21, 2020

“Now what?” we are asked after a 2020 that saw a full-year market whipsaw round trip, coupled with a COVID-induced economic deep dive in the spring. The V-shaped recovery that followed is starting to falter. Let’s take a look in this 2021 market & macro outlook. Jim Bianco has given us permission to use a […]


Cumberland Advisors is an Annual Supporter of

the Global Interdependence Center

GIC Event

The Global Interdependence Center is delighted to partner with Yeshiva University for their first Executive Briefing of 2021. Join them on January 14 at 4PM (ET) for their Macroeconomic Outlook.

There is no cost to register: https://register.gotowebinar.com/register/4721950953747038992


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 01/09/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20201231

Cumberland Advisors Week in Review (Dec 28, 2020 – Jan 01, 2021)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.Week In Review

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.

John Mousseau & Fixed Income / Munis
-Bond Market- basically unchanged since Christmas Eve. 10yr bond at .92% & 30yr bond at 1.65%
-Muni Bond yields running about 75-80% of those numbers
-We’re keeping an eye on the Georgia election. Will the Republicans hold the Senate? John gives his take on what may happen under neutral or Republican/Democrat control.
-Initial jobless claims came in a little lower than expected. That’s a good thing.
-We thank the Federal Reserve and Treasury for coming to rescue of markets by acting as a backstop
-We wish you all a happy and healthy new year

Matt McAleer & Equities / ETFs
-17+ in total return this year – a big surprise
-Liquidity and the Fed’s backing of debt was key
-Headlines shook people out of the market
-But what’s important? Not the headlines, but how the markets react to the headlines.
-2021 will have twists and turns that we don’t have in our playbook today, just like every new year
-Could a bump in vaccine delivery roil markets?
-Have a great Christmas, Happy Holidays, let’s get 2021 off to a great start.
-I have a chart to share with you to put 2020 into perspective and share my take along with market events
-Year to year, different asset classes will lead
-Always be respectful of risk and reward
-We want as much reward for each dollar of invested capital with the least amount of risk
-For the future, we’ll stay flexible, continue to measure risk/reward, and put capital to work where the ratio delivers the best bang for the buck
-Have a great news years weekend, see you next year!

Video Chart

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:  https://youtu.be/aXz1hg_6iJw

 

-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


In the news… The stock market is ending 2020 at record highs, even as the virus surges and millions go hungry

By Hamza Shaban and Heather Long – Dec. 31, 2020

CA-In-The-News-David-R-Kotok-WaPo-20201231

The U.S. stock market ended 2020 at all-time highs, enriching the wealthy and capping off a soaring comeback despite a deadly pandemic that has killed more than 340,000 Americans and left millions jobless and hungry.

As the extent of the coronavirus became clear in March, investors sent stocks tumbling 34 percent, a bear market. But it turned out to be the shortest downturn in U.S. history. Since the U.S. stock market bottomed on March 23, the S&P 500 has risen 68 percent, shattering all-time records along the way. The rebound reflects Wall Street’s optimism about 2021, but it also underscores the disconnect between the stock market’s wild success and struggling American households.

“The markets are dominated by the folks who are in the upper echelons. They don’t feel any pain. They read about it, but they don’t experience it,” said David Kotok, founder of Cumberland Advisors. “What they do experience is the flip side: We have had very substantial productivity gains with Zoom and other daily life efficiencies.”

Read the full story at WaPo’s site: https://www.washingtonpost.com/business/2020/12/31/stock-market-record-2020/


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


Politics: Aaarrgh!

Author: David R. Kotok, Post Date: December 30, 2020

Market Commentary - Cumberland Advisors - Politics Aaarrgh!

About 20 million people in America were at sharply increased financial risk if Trump hadn’t signed the new stimulus bill. I asked Mike Englund of Action Economics for a breakdown. Here’s what he sent. “This is taken straight from the initial claims report from the DOL: Unemployment Insurance Benefits in All Programs Week ending December […]


Taxable Total Return 4th Quarter Review

Author: Daniel Himelberger, Post Date: December 29, 2020

Cumberland Advisors - Dan Himelberger - Portfolio Manager & Fixed Income Analyst

The buildup to and launch of a COVID-19 vaccine during the fourth quarter of 2020 led to record highs being set in the stock market and a steeper Treasury yield curve. The news of the vaccine also benefits spreads on investment-grade corporates and taxable municipals. These spreads continue to grind lower from their highs earlier […]


The Long Strange Trip of the Muni Market in 2020

Author: John R. Mousseau, CFA, Post Date: December 28, 2020

CA-Market-Commentary - The Long Strange Trip of the Muni Market in 2020 - Mousseau

Sometimes the light’s all shinin’ on me Other times I can barely see Lately it occurs to me What a long strange trip it’s been “Truckin,” by the Grateful Dead (Lyrics by Robert Hunter)   Those great lines from a great song sum up the 2020 investment year in general and particularly in munis, as […]


Ave Maria & More

Author: David R. Kotok, Post Date: December 27, 2020

Market-Commentary-Cumberland-Advisors-David-Sunday-Ave-Maria-&-More

We hope that you’ve made the most of your holidays during this extraordinary year and have found safe ways to connect with family and friends. On this Sunday poised just before the new year, we would like to wish you and yours a better and brighter 2021. We are hopeful although, we know that we […]


International Equities at Year-end 2020 & the Promise Ahead

Author: Bill Witherell, Ph.D., Post Date: December 23, 2020

Market Commentary - Cumberland Advisors - International Equities at Year-end 2020 and the Promise Ahead by William Witherell, Ph.D.

During March and April of this year, the global economy and equity markets were hit with a severe shock from the COVID-19 pandemic and the widespread lockdown measures governments imposed in response. In May and June, the spread of infection lessened in many economies, lockdowns were largely ended, and restrictions eased. Equity markets started a […]


CIO Overview – 2021 Market & Macro Outlook

Author: David R. Kotok, Post Date: December 21, 2020

“Now what?” we are asked after a 2020 that saw a full-year market whipsaw round trip, coupled with a COVID-induced economic deep dive in the spring. The V-shaped recovery that followed is starting to falter. Let’s take a look in this 2021 market & macro outlook. Jim Bianco has given us permission to use a […]


Florida-COVID Update

Author: David R. Kotok, Post Date: December 20, 2020
Market-Commentary-Cumberland-Advisors-David-Sunday-Florida-COVID-Update
As much as you may know about airborne transmission of COVID-19, something new may be learned from this video. How risky is it, for instance, to stand in line behind someone who is wearing a loosely fitted mask? Find out. See “Military-grade camera shows risks of airborne coronavirus spread,” https://www.washingtonpost.com/investigations/2020/12/11/coronavirus-airborne-video-infrared-spread/ We thank all the readers […]

The December FOMC

Author: Robert Eisenbeis, Ph.D., Post Date: December 18, 2020

Federal Reserve - FOMC

Prior to the Fed’s December FOMC meeting there was a general consensus among economists (see the December NABE forecast, for example) that the Committee would not change its federal funds rate target. But the media was filled with speculation that the FOMC would possibly increase its asset purchase program or begin to purchase longer-maturity Treasuries. […]


Fed: Data-driven?

Author: David R. Kotok, Post Date: December 17, 2020

CA-David-Kotok-Portrait-With-Title-Blue-2020

In a Bloomberg column by John Authors, published on December 16 (“Fed’s Last Christmas Before Biden Is All About WAM,”), his chart shows Core PCE has emerged as the most important inflation measure, as it is likely to have a stronger influence on the Fed’s policy decisions than other inflation measures. Continued[…]


Drones

Author: David R. Kotok, Post Date: December 15, 2020

Market Commentary - Cumberland Advisors - Drones

Steve K. got us thinking about drones when he sent an email with three videos, one riveting, one marvelous, and one “downright scary,” all of them about drones. We decided to explore further. We note that we are overweight aerospace and defense in our US ETF portfolios. As you will see, drones are an increasingly […]


In the news… Munis flat as traders look ahead to next year’s supply slate

By Chip Barnett – December 29, 2020

CA-In-The-News-John-R-Mousseau-BondBuyer-20201229

Municipal bonds were little changed Tuesday as the market took stock of 2020 and looked ahead to what 2021 might have in store. Yields on top-rated munis were flat across AAA scales.

As the year comes to a close, the municipal bond market is essentially “cured from a functionality standpoint,” according to John Mousseau, president and chief executive officer of Cumberland Advisors.

“Muni yields across the board are significantly lower than they were at the start of the year, and in the short end they are MUCH LOWER,” he wrote in a Tuesday market commentary. “Compared to the end of March, when the muni market had righted itself, overall yields are also much lower, particularly in the shorter end of the yield curve, reflecting the lowering of short-term interest rates by the Fed in March and the return of liquidity to the market in general and the short-term market in particular.”

“Yes, there have been some downgrades, and there will be more. But the most salient feature of high-grade municipal bonds has shone through in 2020, and that is the fact that municipal issuers enjoy a monopoly on taxing power and the provision of essential services,”Mousseau said. “And as we have seen in this past year, the larger infrastructure-type issuers enjoy broad institutional support from both the investing public and Congress. And just as important, even issuers with structural problems, such as New Jersey and Illinois, still have broad municipal market access, albeit at higher yields than the market.”

But he noted that municipalities across the country still needed some help.

Continue reading the full story at The Bond Buyer’s site: https://www.bondbuyer.com/news/munis-flat-as-traders-look-ahead-to-next-years-healthy-supply-slate


CA-In-The-News-David-R-Kotok-Bloomberg-TV-20201229


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 01/02/2021 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20201223

Cumberland Advisors Week in Review (Dec 21, 2020 – Dec 25, 2020)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.Week In Review

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.

John Mousseau & Fixed Income / Munis
-Bond Market- quiet week for fixed income. 10 & 30yr bonds are exactly where we left them last Friday. 95bps on the 10yr & 170bps on the 30yr.
-Munis? No change since Friday. No deals.
-Muni market was hoping for direct aid to state and local gov’ts from the stimulus. They hopefully will benefit from the stimulus working its way through the economy.
-We expect to see increased spending from the next congress, even if the Republicans hold the Senate
-We expect more initial spending to occur during Biden’s honeymoon phase
-Therefore there could be a deal for direct aid to state and local gov’ts
-Spending should increase with vaccines
-Perception of inflation could affect bond yields
-We thank all of you for joining us week after week during these trying times
-Have a great holiday and a happy new year

Matt McAleer & Equities / ETFs
-It was nice to see volume and volatility take a little break this week: I explain.
-If you’ve traded the markets this year in a reasonable way, primarily equities but bonds also, you “really earned your spurs this year!”
-At Cumberland Advisors, we like to measure volatility in plus or minus two percent days in the S&P 500
-Average years see sixteen “volatile” days by our measure. This year? Forty+ and it’s not over.
-When we’re trying to allocate capital, positive returns take care of themselves, or to put it another way, the upside tends to take care of itself if the downside is handled appropriately.
Heading into Q1 we need to be cognizant of some of the speculative activity we’re currently seeing in the “call” market on the CBOE
-What’s speculative? Buyers & Sellers of contracts under twenty.
-Two weeks ago, over 29% of the options traded were of that nature (they were calls).
-That tends to be a signal that the upside from there may be limited. Maybe the market needs a reset?
-Don’t define what you’re expecting from the equity market: Watch, Analyze, & React!
-Have a great Christmas, Happy Holidays, let’s get 2021 off to a great start.
-Contact John or I with any questions you may have, thank you!

Cumberland Holiday Greetings
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: https://youtu.be/yypqjcobP04

-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


International Equities at Year-end 2020 & the Promise Ahead

Author: Bill Witherell, Ph.D., Post Date: December 23, 2020

Market Commentary - Cumberland Advisors - International Equities at Year-end 2020 and the Promise Ahead by William Witherell, Ph.D.

During March and April of this year, the global economy and equity markets were hit with a severe shock from the COVID-19 pandemic and the widespread lockdown measures governments imposed in response. In May and June, the spread of infection lessened in many economies, lockdowns were largely ended, and restrictions eased. Equity markets started a […]


CIO Overview – 2021 Market & Macro Outlook

Author: David R. Kotok, Post Date: December 21, 2020

“Now what?” we are asked after a 2020 that saw a full-year market whipsaw round trip, coupled with a COVID-induced economic deep dive in the spring. The V-shaped recovery that followed is starting to falter. Let’s take a look in this 2021 market & macro outlook. Jim Bianco has given us permission to use a […]


Florida-COVID Update

Author: David R. Kotok, Post Date: December 20, 2020
Market-Commentary-Cumberland-Advisors-David-Sunday-Florida-COVID-Update
As much as you may know about airborne transmission of COVID-19, something new may be learned from this video. How risky is it, for instance, to stand in line behind someone who is wearing a loosely fitted mask? Find out. See “Military-grade camera shows risks of airborne coronavirus spread,” https://www.washingtonpost.com/investigations/2020/12/11/coronavirus-airborne-video-infrared-spread/ We thank all the readers […]

The December FOMC

Author: Robert Eisenbeis, Ph.D., Post Date: December 18, 2020

Federal Reserve - FOMC

Prior to the Fed’s December FOMC meeting there was a general consensus among economists (see the December NABE forecast, for example) that the Committee would not change its federal funds rate target. But the media was filled with speculation that the FOMC would possibly increase its asset purchase program or begin to purchase longer-maturity Treasuries. […]


Fed: Data-driven?

Author: David R. Kotok, Post Date: December 17, 2020

CA-David-Kotok-Portrait-With-Title-Blue-2020

In a Bloomberg column by John Authors, published on December 16 (“Fed’s Last Christmas Before Biden Is All About WAM,”), his chart shows Core PCE has emerged as the most important inflation measure, as it is likely to have a stronger influence on the Fed’s policy decisions than other inflation measures. Continued[…]


Drones

Author: David R. Kotok, Post Date: December 15, 2020

Market Commentary - Cumberland Advisors - Drones

Steve K. got us thinking about drones when he sent an email with three videos, one riveting, one marvelous, and one “downright scary,” all of them about drones. We decided to explore further. We note that we are overweight aerospace and defense in our US ETF portfolios. As you will see, drones are an increasingly […]


The Frog & The Scorpion

Author: David R. Kotok, Post Date: December 13, 2020

Market-Commentary-Cumberland-Advisors-David-Sunday-The-Frog-&-The-Scorpion

We want to paraphrase and update an ancient parable which originated for us along the banks of the Jordan River, as it flows from the Sea of Galilee to the Dead Sea. The Jordan defines the border between modern-day Israel, Jordan, and Palestinian Authority territory. Here’s the modern American version. The river is the Potomac. The territory is the federal center of government called Washington, DC. There are two actors in our one-act, two-scene play. One is a scorpion; the other is a frog. Scene 1. […]


Siesta, Longboat, COVID, Masks & More

Author: David R. Kotok, Post Date: December 11, 2020

Market Commentary - Cumberland Advisors - Siesta, Longboat, COVID, Masks & More

Sarasota-based, Cumberland champions mask wearing and other COVID-prevention measures. We also champion business. We believe that Florida’s economics are better served with basic prevention measures in place. We would not lock down everything. We would require basic civic responsibilities, such as mask wearing in a deadly pandemic. The principle is the same as permitting or […]


Chris Whalen on GSEs

Author: David R. Kotok, Post Date: December 8, 2020

"C:\Users\Angela Colvin\Pictures\Screenshots\Nonbank Update_ PennyMac Financial Services.png"

Several folks have asked us about the status of the GSEs under the Biden regime. Some may be invested in some of the troubled securities issued by GSEs. Some argue that the US Treasury Secretary can rectify the problem without the help of Congress. We do not agree. We do not expect any help for […]


Jobs – As Yearend Approaches

Author: Robert Eisenbeis, Ph.D., Post Date: December 7, 2020

Cumberland Advisors Market Commentary - Jobs – As Yearend Approaches (Eisenbeis)

On Friday we got the last look at how the economy is performing, jobs-wise, before the end of the year. On the positive side, the economy did create 245,000 jobs in November, and the unemployment rate edged down to 6.7 percent. We note that critics argue the estimate is too low due to problems within […]


A Special Holiday Message from

John Mousseau, President & CEO Cumberland Advisors



Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 12/26/2020 arrow Watch Video arrow
Cumberland-Advisors-Market-Update-20201218

Cumberland Advisors Week in Review (Dec 14, 2020 – Dec 18, 2020)

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.Week In Review

These are not revised assessments, and circumstances may have changed in the market from the time of original publication. We also include older commentaries that our editors have determined may be of interest to our audience. Your feedback is always welcome.

CUMBERLAND ADVISORS’ WEEKLY RECAP

As part of Cumberland Advisors’ continuous effort to maintain strong customer relationships, we offer this week’s short video discussing current market conditions and how we are positioning portfolios.

John Mousseau & Fixed Income / Munis
-Bond Market- quiet week. Yields ground a little higher. Why? Vaccines.
-Munis? Hardly a move.
-John talks about what’s happening behind the scenes in the muni world, as well as what expectations are at work in the market
-Next year will look a lot different than this one with vaccines making the difference

Matt McAleer & Equities / ETFs
-What a year!
-We’ve learned some of the same lessons traders have learned over the last 80/90/100 years, and that is to stay reasonable in the face of violent moves in the market
-In this market, it has paid to ask, “what can go right?” or “how much negativity is priced into the market?”
-After the run of spring, summer, and fall, we need to ask the same questions but with the other lens: “what can go wrong?”
-What are we not seeing? Lots of predictions talking about future gains, the loose Fed policy, vaccines. But those things are know and already baked in stocked prices.
-Right now, we’ll make no changes to our portfolios
-Asia continues to perform well. Sometimes when I mention China, I get negative feedback. Why?
-As traders, we need to battle any kind of emotional attachment to a market or security
-What I think about China and it’s trade policy or economic policy should not affect how I look at them as a trader
-Our philosophy: stay reasonable, and look at trading through a risk/reward prism
-Our last trade was last week when we let go of the banks in US ETF, sitting in about 18% cash
-We’ll look for opportunities and pullbacks to get some of that cash to work
-Our next update will be Wednesday, December 23rd. See you then.

Cumberland Holiday Greetings
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: https://youtu.be/qVdrRV_3Ijo

-Matt McAleer & Cumberland Advisors

Send your feedback from today’s email/video to Matt. You can reach him at:
-Link to Matt’s Email: Matthew.McAleer@Cumber.com
-Link to Matt’s Twitter: https://twitter.com/MattMcAleer4
-Link to Matt’s LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013.

Contact Matt or any one of our advisors by following this link: https://www.cumber.com/our-people/


Cumberland Advisors Market Commentary

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.

Read current and past commentaries here: https://www.cumber.com/category/market-commentary/


The December FOMC

Author: Robert Eisenbeis, Ph.D., Post Date: December 18, 2020

Federal Reserve - FOMC

Prior to the Fed’s December FOMC meeting there was a general consensus among economists (see the December NABE forecast, for example) that the Committee would not change its federal funds rate target. But the media was filled with speculation that the FOMC would possibly increase its asset purchase program or begin to purchase longer-maturity Treasuries. […]


Fed: Data-driven?

Author: David R. Kotok, Post Date: December 17, 2020

CA-David-Kotok-Portrait-With-Title-Blue-2020

In a Bloomberg column by John Authors, published on December 16 (“Fed’s Last Christmas Before Biden Is All About WAM,”), his chart shows Core PCE has emerged as the most important inflation measure, as it is likely to have a stronger influence on the Fed’s policy decisions than other inflation measures. Continued[…]


Drones

Author: David R. Kotok, Post Date: December 15, 2020

Market Commentary - Cumberland Advisors - Drones

Steve K. got us thinking about drones when he sent an email with three videos, one riveting, one marvelous, and one “downright scary,” all of them about drones. We decided to explore further. We note that we are overweight aerospace and defense in our US ETF portfolios. As you will see, drones are an increasingly […]


The Frog & The Scorpion

Author: David R. Kotok, Post Date: December 13, 2020

Market-Commentary-Cumberland-Advisors-David-Sunday-The-Frog-&-The-Scorpion

We want to paraphrase and update an ancient parable which originated for us along the banks of the Jordan River, as it flows from the Sea of Galilee to the Dead Sea. The Jordan defines the border between modern-day Israel, Jordan, and Palestinian Authority territory. Here’s the modern American version. The river is the Potomac. The territory is the federal center of government called Washington, DC. There are two actors in our one-act, two-scene play. One is a scorpion; the other is a frog. Scene 1. […]


Siesta, Longboat, COVID, Masks & More

Author: David R. Kotok, Post Date: December 11, 2020

Market Commentary - Cumberland Advisors - Siesta, Longboat, COVID, Masks & More

Sarasota-based, Cumberland champions mask wearing and other COVID-prevention measures. We also champion business. We believe that Florida’s economics are better served with basic prevention measures in place. We would not lock down everything. We would require basic civic responsibilities, such as mask wearing in a deadly pandemic. The principle is the same as permitting or […]


Chris Whalen on GSEs

Author: David R. Kotok, Post Date: December 8, 2020

"C:\Users\Angela Colvin\Pictures\Screenshots\Nonbank Update_ PennyMac Financial Services.png"

Several folks have asked us about the status of the GSEs under the Biden regime. Some may be invested in some of the troubled securities issued by GSEs. Some argue that the US Treasury Secretary can rectify the problem without the help of Congress. We do not agree. We do not expect any help for […]


Jobs – As Yearend Approaches

Author: Robert Eisenbeis, Ph.D., Post Date: December 7, 2020

Cumberland Advisors Market Commentary - Jobs – As Yearend Approaches (Eisenbeis)

On Friday we got the last look at how the economy is performing, jobs-wise, before the end of the year. On the positive side, the economy did create 245,000 jobs in November, and the unemployment rate edged down to 6.7 percent. We note that critics argue the estimate is too low due to problems within […]


A Twinkle for Sunday

Author: David R. Kotok, Post Date: December 6, 2020

Market Commentary - Cumberland Advisors - A Twinkle for Sunday

“Twinkle, Twinkle, Little Star” existed first as a poem. Written by Jane Taylor and first published in 1806, it was titled simply “The Star.” It was not until 1838 that “Twinkle, Twinkle, Little Star” appeared in print as a song, in a collection called The Singing Master: First Class Tune Book, paired with the tune […]


Interest Rates and Yield Curve Control, Part 4

Author: David R. Kotok, Post Date: December 4, 2020

Market Commentary - Cumberland Advisors - Interest Rates and Yield Curve Control, Part 4

In Part 4 of our series on interest rates and yield curve control, we will examine two charts and two related tables to help explain yield curve control and implications for the Treasurys market. The first three parts are available here: Part 1, https://www.cumber.com/cumberland-advisors-market-commentary-interest-rates-and-yield-curve-control-part-1/ Part 2, https://www.cumber.com/cumberland-advisors-market-commentary-interest-rates-and-yield-curve-control-part-2/ Part 3, https://www.cumber.com/cumberland-advisors-market-commentary-interest-rates-and-yield-curve-control-part-3/. The first chart and table […]


The Cumberland State of Despair Index

Author: John R. Mousseau, CFA & Patricia Healy, CFA & Tom Patterson, Post Date: December 3, 2020

Market Commentary - Cumberland Advisors - The Cumberland State of Despair Index (Mousseau & Healy + Patterson)

The Cumberland State of Despair Index tries to capture the despair caused by unemployment brought on by the pandemic and COVID-19 infection rates on a state-by-state basis. This State of Despair Index will be applied as a variable in our credit-scoring model. Continued […]


Raphael Bostic, President of the Federal Reserve Bank of Atlanta, was the keynote speaker at our invitation in 2018 for Financial Literacy Day at the Sarasota-Manatee campus of USF.



Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer 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.

Posted on: 12/19/2020 arrow Watch Video arrow
cumber map
Cumberland Advisors® is registered with the SEC under the Investment Advisers Act of 1940. All information contained herein is for informational purposes only and does not constitute a solicitation or offer to sell securities or investment advisory services. Such an offer can only be made in the states where Cumberland Advisors is either registered or is a Notice Filer or where an exemption from such registration or filing is available. New accounts will not be accepted unless and until all local regulations have been satisfied. This presentation does not purport to be a complete description of our performance or investment services. Please feel free to forward our commentaries (with proper attribution) to others who may be interested. It is not our intention to state or imply in any manner that past results and profitability is an indication of future performance. All material presented is compiled from sources believed to be reliable. However, accuracy cannot be guaranteed.
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