Cumberland Advisors Week in Review (Jul 13, 2020 - Jul 17, 2020)

Cumberland Advisors

Sun Jul 19, 2020

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.

</p> <p>Dear Clients & Friends,</p> <p>Thank you for joining Cumberland Advisors for this end-of-week update on market conditions, bonds & equities with Matt McAleer, David Kotok, and John Mousseau, CFA.</p> <div>This week:</div> <div></div> <div> <p><strong>Matt McAleer on ETFs & Equities</strong></p> <div>- Biotech & Pharma strong- solid week</div> <div>- Basic Materials continues to rally</div> <div>- Large cap growth mild pullback vs. value- we have seen this action before and it was short-lived.....Banks are key to value staying relevant as they produced a mixed bag of earnings this week.</div> <p> </p> <p><strong>John Mousseau's Update on the Fixed Income Market</strong><br /> - A quiet summer-like week in the bond market<br /> - Deals that came this week were fairly well subscribed<br /> - The deals that get the most subscriptions now are the smaller deals that tend to come cheaper and they still can get 5, 6, 7 times oversubscribed<br /> - As we move forward, we expect to see more deals to come to market<br /> - We think issuers will come to market with some higher yields as the year moves forward<br /> - New Jersey announced this week that they seek to raise $10B, New York seeks $11B through shorter and longer term deals. There will be some give on the deals based upon their size.<br /> - We're probably going to see this in other states as a result of coronavirus relapses and the negative effects on commerce<br /> - Things to watch next week:<br /> * We'll be on the lookout for initial and continuing jobless claims<br /> * Congress is still debating over new stimulus on behalf of state and local governments</p> <p><strong>David Kotok on the Virus and Markets</strong><br /> - We need effective vaccines and treatments<br /> - Until then, we need the truth</p> <p>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: <a href="https://youtu.be/3tJRuiQMKVU" target="_blank" rel="noopener noreferrer">https://youtu.be/3tJRuiQMKVU</a></p> </div> <p>Stay safe, healthy, and have a great weekend.</p> <p><strong>-Matt McAleer & Cumberland Advisors</strong></p> <p><em>Matt enjoys your feedback. You can reach him at:</em><br /> -Link to Matt's Email: <a href="mailto:Matthew.McAleer@Cumber.com?subject=Weekly%20Update" target="_blank" rel="noopener noreferrer">Matthew.McAleer@Cumber.com</a><br /> -Link to Matt's Twitter: <a href="https://twitter.com/MattMcAleer4">https://twitter.com/MattMcAleer4</a><br /> -Link to Matt's LinkedIn: <a href="https://www.linkedin.com/in/matthew-c-mcaleer/">https://www.linkedin.com/in/matthew-c-mcaleer/</a><br /> -Call Matt: <a href="tel:800-257-7013p346" target="_blank" rel="noopener noreferrer">(800) 257-7013</a></p> <p>Other questions or comments? Email us at <a href="mailto:info@cumber.com?subject=Comment" target="_blank" rel="noopener noreferrer">info@cumber.com</a> or give us a call at (800) 257-7013.</p> <p><em>Contact Matt or any one of our advisors by following this link: <a href="https://www.cumber.com/our-people/" target="_blank" rel="noopener noreferrer">https://www.cumber.com/our-people/</a> </em></p> <hr /> <h1 class="inner_text_heading">IN THE NEWS</h1> <p><a href="/sites/default/files/uploads/2014/12/InTheNewsLarge.jpg"><img class="aligncenter size-medium wp-image-39870" src="/sites/default/files/uploads/2014/12/InTheNewsLarge-300x165.jpg" alt="Cumberland Advisors In The News" width="300" height="165" /></a></p> <div class="news_outer_main"> <div class="news_row_main clearfix"> <div class="news_right"> <div class="news_row_main clearfix"> <div class="news_right"> <div class="news_row_main clearfix"> <div class="news_right"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/bondbuyer-confidence-high-among-muni-investors/" target="_blank" rel="noopener noreferrer">BondBuyer – Confidence high among muni investors</a></h2> <p>Quoted: John R. Mousseau, CFA | Posted on: 07/16/2020 <a class="read" href="https://www.cumber.com/bondbuyer-confidence-high-among-muni-investors/" target="_blank" rel="noopener noreferrer"> <span class="left_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow2.png" alt="" /></span> read more <span class="right_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow3.png" alt="" /></span> </a></p> </div> </div> <div class="news_row_main clearfix"> <div class="news_right"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/tech-xplore-wall-streets-big-tech-enthusiasm-getting-stronger/" target="_blank" rel="noopener noreferrer">Tech Xplore – Wall Street’s Big Tech enthusiasm getting stronger</a></h2> <p>Quoted: David R. Kotok | Posted on: 07/12/2020 <a class="read" href="https://www.cumber.com/tech-xplore-wall-streets-big-tech-enthusiasm-getting-stronger/" target="_blank" rel="noopener noreferrer"> <span class="left_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow2.png" alt="" /></span> read more <span class="right_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow3.png" alt="" /></span> </a></p> </div> </div> <div class="news_row_main clearfix"> <div class="news_right"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/bondbuyer-puerto-rico-general-fund-collections-lag-projections/" target="_blank" rel="noopener noreferrer">BondBuyer – Puerto Rico General Fund collections lag projections</a></h2> <p>Quoted: Shaun Burgess | Posted on: 07/08/2020 <a class="read" href="https://www.cumber.com/bondbuyer-puerto-rico-general-fund-collections-lag-projections/" target="_blank" rel="noopener noreferrer"> <span class="left_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow2.png" alt="" /></span> read more <span class="right_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow3.png" alt="" /></span> </a></p> </div> </div> <div class="news_row_main clearfix"> <div class="news_right"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/the-unemployment-rate-is-grossly-understated-heres-why/" target="_blank" rel="noopener noreferrer">Barron’s – The Unemployment Rate Is “Grossly” Understated. Here’s Why</a></h2> <p>Quoted: John R. Mousseau, CFA | Posted on: 07/01/2020 <a class="read" href="https://www.cumber.com/the-unemployment-rate-is-grossly-understated-heres-why/" target="_blank" rel="noopener noreferrer"> <span class="left_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow2.png" alt="" /></span> read more <span class="right_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow3.png" alt="" /></span> </a></p> </div> </div> <div class="news_row_main clearfix"> <div class="news_right"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/warren-buffett-doesnt-need-the-feds-help-but-hes-getting-it-anyway/" target="_blank" rel="noopener noreferrer">Warren Buffett doesn’t need the Fed’s help. But he’s getting it anyway</a></h2> <p>Quoted: David R. Kotok | Posted on: 06/29/2020 <a class="read" href="https://www.cumber.com/warren-buffett-doesnt-need-the-feds-help-but-hes-getting-it-anyway/" target="_blank" rel="noopener noreferrer"> <span class="left_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow2.png" alt="" /></span> read more <span class="right_go"><img src="https://www.cumber.com/wp-content/themes/cumberland_advisor/images/small_arrow3.png" alt="" /></span> </a></p> </div> </div> </div> </div> </div> </div> </div> <hr /> <div class="post-thumbnail"><img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2017/03/Market-Commentary-672x245.png" alt="Cumberland Advisors Market Commentary" width="672" height="245" /></div> <div class="static_cont_outer"> <p>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.</p> <p>To read current and past commentaries, visit <a href="https://www.cumber.com/category/market-commentary/" target="_blank" rel="noopener noreferrer">https://www.cumber.com/category/market-commentary/</a></p> </div> <hr /> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-john-mousseaus-oxford-presentation-bond-markets-through-the-virus/" rel="bookmark">John Mousseau’s Oxford Presentation: Bond Markets Through the Virus</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 16, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-john-mousseaus-oxford-presentation-bond-markets-through-the-virus/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-John-Mousseaus-Oxford-Presentation-Bond-Markets-Through-the-Virus-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-John-Mousseaus-Oxford-Presentation-Bond-Markets-Through-the-Virus-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-John-Mousseaus-Oxford-Presentation-Bond-Markets-Through-the-Virus-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - John Mousseau's Oxford Presentation Bond Markets Through the Virus" width="672" height="372" /> </a></p> <p>John Mousseau did a live (online) presentation with Oxford University on Monday June 29th about insights on the bond markets, the macroeconomic landscape, and his take on potential career choices for students interested in finance and investing. His presentation topic was: Bond Markets Through the Virus Analysis of Treasury, Taxable and Municipal Markets Analysis of Fed […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-covid-19-aerosols-retrofitting-construction-stock-market-materials-sector/" rel="bookmark">COVID-19-Aerosols, Retrofitting & Construction, Stock Market Materials Sector</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 14, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-covid-19-aerosols-retrofitting-construction-stock-market-materials-sector/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-COVID-19-Aerosols-Retrofitting-Construction-Stock-Market-Materials-Sector-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-COVID-19-Aerosols-Retrofitting-Construction-Stock-Market-Materials-Sector-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-COVID-19-Aerosols-Retrofitting-Construction-Stock-Market-Materials-Sector-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - COVID-19-Aerosols, Retrofitting & Construction, Stock Market Materials Sector" width="672" height="372" /> </a></p> <p>You might have noticed that there has been quite a flap lately about the idea that COVID-19 may be transmitted through the air. But isn’t that old news? Haven’t we recognized from the outset that we needed to distance ourselves from one another to minimize airborne spread of the virus? Yes, but we were talking […]</p> <hr /> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-the-room-where-it-happened/" rel="bookmark">The Room Where It Happened</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 12, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-the-room-where-it-happened/"><img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-The-Room-Where-It-Happened-Kotok-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-The-Room-Where-It-Happened-Kotok-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-The-Room-Where-It-Happened-Kotok-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - The Room Where It Happened" width="672" height="372" /></a></p> <p>“The Room Where It Happened” is a popular theme these days. Not just the book (surprise, surprise!), but also the song. Let’s use this missive to talk about it. Now that the Disney Channel has made the $1000-per-ticket version of Hamilton available for those with a lesser budget ($6.99), this marvelously imaginative theatre creation belongs on the […]</p> </div> <hr /> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-more-on-fed-liquidity-and-lending-programs/" rel="bookmark">More on Fed Liquidity and Lending Programs</a></h2> <h6><strong>Author:</strong> Robert Eisenbeis, Ph.D., <strong>Post Date:</strong> July 10, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-more-on-fed-liquidity-and-lending-programs/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-More-on-Fed-Liquidity-and-Lending-Programs-Eisenbeis-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-More-on-Fed-Liquidity-and-Lending-Programs-Eisenbeis-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-More-on-Fed-Liquidity-and-Lending-Programs-Eisenbeis-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - More on Fed Liquidity and Lending Programs (Eisenbeis)" width="672" height="372" /> </a>The Federal Reserve continues to support financial markets, including the commercial paper market, the repo market, the municipal securities market, money market mutual funds, central bank liquidity swaps, and primary dealers. This is in addition to the usual discount window facility that provides credit to commercial banks. In many cases there are either published maximums […]</p> </div> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-paul-schulte-q-a-covid-china-us-ai-5g-2-books/" rel="bookmark">PAUL SCHULTE: Q & A, COVID, CHINA-US, AI, 5G, 2 BOOKS</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 9, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-paul-schulte-q-a-covid-china-us-ai-5g-2-books/"><img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Paul-Schulte-QA-Covid-China-US-AI-5G-2-Books-Kotok-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Paul-Schulte-QA-Covid-China-US-AI-5G-2-Books-Kotok-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Paul-Schulte-QA-Covid-China-US-AI-5G-2-Books-Kotok-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - Paul Schulte Q&A, Covid, China-US, AI, 5G, 2 Books - Kotok" width="672" height="372" /></a></p> <p>With honor and gratitude, we wish to introduce Paul Schulte, the founder of Singapore-based Schulte Research. His expertise in finance and technology are sought globally by serious investing institutions. We thank Paul for agreeing to answer a few questions in a Q&A.</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/covid-business-media-healthcare-sector/" rel="bookmark">COVID, BUSINESS, MEDIA, HEALTHCARE SECTOR</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 7, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/covid-business-media-healthcare-sector/"><img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/06/Market-Commentary-Cumberland-Advisors-2020-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/06/Market-Commentary-Cumberland-Advisors-2020-672x372.jpg 672w, /sites/default/files/uploads/2020/06/Market-Commentary-Cumberland-Advisors-2020-1038x576.jpg 1038w" alt="" width="672" height="372" /></a></p> <p>Forty-three percent of US COVID-19 deaths are linked to nursing homes. State figures range from a high of 80% in New Hampshire and 77% in Minnesota down to 27% in Nevada and 34% in Nebraska and Tennessee. See both “43% of U.S. Coronavirus Deaths Are Linked to Nursing Homes,” New York Times, June 27, 2020, […]</p> <hr /> </div> </header> </header> </header> </header> </header> </header> </header> <p>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.</p> <p><strong>Sign up for our <a href="https://www.cumber.com/market-commentary-email-sign-up">FREE Cumberland Market Commentaries</a></strong></p> <p>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.</p> </header>

Material and commentaries published in the past may or may not be helpful in analyzing current economic or financial market activity. Please note publishing date when reviewing materials. Please email [email protected] for our current thoughts or to reach an advisor.

Cumberland Advisors Week in Review (Jul 13, 2020 - Jul 17, 2020)

CUMBERLAND ADVISORS' WEEKLY RECAP

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