Excerpt from...

Who’s Buying Evergrande? - New York Times DealBook Newsletter

By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Stephen Gandel, Lauren Hirsch, Ephrat Livni and Anna Schaverien
Sept. 23, 2021

As fears of the fallout from the Chinese property developer’s potential collapse fade, some investors see an opportunity.

For the Fed, is now the time?

The Federal Reserve said yesterday that it could soon slow the large-scale bond purchases that have propped up the economy during the pandemic. “It’s time for us to begin to taper them,” Jay Powell, the Fed chair, said. With that end in sight, DealBook asked some experts whether it was the right time to pull the plug on the extra support.

Robert Eisenbeis, a former top Fed staffer who is now the chief monetary strategist for Cumberland Advisors, is critical of the ambiguity around the Fed’s plan, which could stoke market volatility. Powell said that a specific timeline for tapering had not been set, and that at least one more month of solid job growth was necessary. “Powell has said the Fed has a ‘wonderful framework for communication,’” Eisenbeis said. “It’s garbage.”

Read the full story at NYT's website: https://www.nytimes.com/2021/09/23/business/dealbook/evergrande-debt-investors.html

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.

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.