Tag Archives: Patricia Healy

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Cumberland Advisors Market Commentary – Managing Hurricane Risk in a Bond Portfolio

Author: John R. Mousseau, CFA & Patricia Healy, CFA, Post Date: August 10, 2020
Market Commentary - Cumberland Advisors - Managing Hurricane Risk in a Bond Portfolio

The Northeast continues to clean up from Hurricane Isaias, which swept up the Atlantic coast to New York and parts of New England on Thursday. Below is a slide from a presentation by our good friend Tom Doe, who heads up Municipal Market Advisors (http://www.mma-research.com). Tom’s firm does in-depth quantitative and qualitative research on the […]

Cumberland Advisors Market Commentary – Why States Are Not Going to Default from the Coronavirus Fallout

Author: Patricia Healy, CFA, Post Date: March 27, 2020
Market Commentary - Cumberland Advisors - Why States Are Not Going to Default from the Coronavirus Fallout

In our opinion this is a short-term shock, although it will likely change some behaviors for the long term that will need to be monitored. The initial concern is liquidity, not just in the bond market but also at the state level, where tax payment dates have been extended and economically sensitive revenues such as […]

Cumberland Advisors Market Commentary – COVID-19 and Municipal Credit Quality

Author: Patricia Healy, CFA, Post Date: March 2, 2020
Market Commentary - Cumberland Advisors - COVID-19 and Municipal Credit Quality

Until recently it was unclear if the new coronavirus would reach the United states. Now we have 88 reported cases in the US, at least two without a clear connection to travel to China, and as of Sunday night two deaths; so we feel it is time to comment on the ability of US municipalities […]

Market Commentary: Puerto Rico Earthquakes – Insult to Injury

Author: , Post Date: January 15, 2020
Market Commentary Puerto Rico

For the people of Puerto Rico, natural disasters have become all too commonplace. Two years ago there was Hurricane Maria, which claimed thousands of lives and caused billions in damages. Now the island has experienced a series of earthquakes (the largest being a magnitude 6.4), which have again caused destruction and again brought fear and […]

Cumberland Advisors Market Commentary – 4Q 2019 Credit Commentary

Author: Patricia Healy, CFA, Post Date: December 30, 2019
Market Commentary - Cumberland Advisors - Q4 2019 Municipal Credit Commentary

Pensions, budgets, state ratings, climate adaptation, cybersecurity, and investing   This fourth-quarter commentary continues discussion on key themes of the year. Many of the themes are long-term in nature and reveal the need for governments and businesses to continue to evolve. Pensions, cybersecurity, climate resiliency, evolving demographic changes, and a globalized world as well as […]

State credits stable in 2020 outlook

Author: , Post Date: December 6, 2019
Cumberland-Advisors-Patricia-Healy-In-The-News

Excerpt from… The Bond Buyer State credits stable in 2020 outlook https://www.bondbuyer.com/news/state-credits-stable-in-2020-outlook?feed=0000015a-fd07-d6dd-a9ff-ff07c9a50000 By Sarah Wynn – December 04, 2019 Analysts predict states will be in stable condition this coming year with continued revenue growth, leading to more willingness to issue debt. State revenues will continue to climb in fiscal 2020, though at a more moderate […]

BondBuyer – IHS Markit’s enhanced Ipreo platform directly connects buy-side to dealers

Author: , Post Date: November 20, 2019
Cumberland-Advisors-Patricia-Healy-In-The-News

Excerpt from… IHS Markit’s enhanced Ipreo platform directly connects buy-side to dealers By Lynne Funk Nov 20, 2019 Digital workflow tools in the municipal market are increasing efficiency, freeing up talent to focus on the end client without completing tasks that would take far longer manually. All of these tools flooding the market aim to […]

BondBuyer – Lower tuition rates may mean more downgrades in FY 2020

Author: , Post Date: November 18, 2019
Cumberland-Advisors-Patricia-Healy-In-The-News

Excerpt from… Lower tuition rates may mean more downgrades in FY 2020 By Sarah Wynn Nov 18, 2019 Some analysts have decided to stick with highly rated bonds in the higher education sector. “The higher education area, depending on if it’s public or private has seen some declines (in enrollment) over the years, especially in […]

Cumberland Advisors Market Commentary – Fire and Water

Author: Patricia Healy, CFA, Post Date: November 1, 2019
Market Commentary - Cumberland Advisors - California - A Note on the Fires

The fires engulfing parts of California are feared to become the nation’s worst fire disaster, possibly surpassing 2017 and 2018 fire events. Spurred on by wind gusts of up to 80 mph, this disaster harkens back to Superstorm Sandy, which occurred seven years ago, in October 2012. Superstorm Sandy soaked the Northeast, and its 80-mph […]

Q3 2019 Municipal Credit: Bond Market Dynamics, Natural Disasters, Green Bonds, State Rating Changes, & an Update on Single Ratings

Author: Patricia Healy, CFA, Post Date: October 24, 2019
Muniland - Municipal Credit & Bonds

Municipal bond credit quality remains relatively strong, as indications are still that upgrades are outpacing downgrades. S&P and Moody’s have both recently issued comments that corporate credit quality is weakening. Per S&P, credits rated AAA to B- with negative outlooks or CreditWatch-negative assignments have been increasing, indicating a negative bias. Similarly, Moody’s estimates that the […]