Since 1973, Cumberland Advisors has been a trusted source for market expertise, personal service, and individual and institutional money management. We are an independent, fee-for-service money management firm managing approximately $4 billion in assets.
This past week we celebrated the 50th anniversary of the Apollo 11 moon landing. Remarkably, only 1/3 of Americans today were alive when that happened. As a 12-year-old kid I was riveted by the space program and tried to digest the minutia of every flight. Like a lot of kids, we watched the moon landing […]
The muni bond market has been on a tear so far this year. Not only have yields dropped, but they have dropped relative to US Treasuries across the board. The chart below shows where we are now and where we were at the start of the year. The big squeeze has been caused by the […]
Sarasota financial advisor: Don’t panic over trade tariffs! By Ray Collins | May 15, 2019 John Mousseau says it is important not to get caught up in concerns about a trade tariff war with China. “If you’re sitting there and you read just the headlines, it looks like a cannon ball shot across the bow […]
The first quarter of 2019 was a good one for the tax-free bond market, with yields falling during the quarter. There are two main reasons that munis have had a good run so far this year. Muni supply is down. The drop last year has carried over to this year. Remember, 2018 supply was down […]
Muni yields rose in the first six weeks of this quarter – mostly in sympathy with US Treasuries (UST). We saw the 10-year and 30-year Treasury bonds rise 20 and 25 basis points respectively. Since early November, AAA muni yields (AAA) have dropped across the board, and the 10-year Treasury yield has fallen a whopping […]
In a year when we have seen commentators talking about the relative flatness of yield curves, we have a conundrum when we look at the US Treasury yield curve and the US muni yield curve.
In a year when we have seen commentators talking about the relative flatness of yield curves, we have a conundrum when we look at the US Treasury yield curve and the US muni yield curve.
The tax-free bond market has continued to benefit from the drop in supply so far in 2018. To recap, the end of 2017 saw a bulge in supply as issuers tried to beat the tax-cut bill that Congress was still massaging through joint Senate/House committee work. The final results of the bill were an elimination […]
There has been much written over the years about the effects of hurricanes on equity markets. Clearly, such calamities have caused drop-offs in economic activity, followed by upticks in spending and consumption as affected areas rebuild. There is also considerable literature on the effects of large storms on property and casualty (P&C) companies. Generally speaking, these companies pay out substantial claims after the storms but usually benefit down the road as they obtain pricing power for future insurance premiums.
We wanted to look at some of the major storms in the United States to see if we could discern any trends or effects from these meteorological events on the bond markets.
