Cumberland Advisors Week in Review (Jul 27, 2020 - Jul 31, 2020)

Cumberland Advisors

Sun Aug 2, 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 and John Mousseau, CFA.</p> <div>This week:</div> <div></div> <div> <p><strong>Matt McAleer on ETFs & Equities</strong></p> <div> <div>- Matt has some charts this week</div> <div>- He first takes us through Domestic Sectors<br /> - Next, he offers insight for the International Markets</div> </div> <p><strong>John Mousseau's Update on the Fixed Income Market</strong><br /> - John give us various rates for a big picture view of muniland<br /> - He also discusses government relief for industries and local/state governments</p> <div> <div></div> </div> <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/L0ahbGPDjZE" target="_blank" rel="noopener noreferrer">https://youtu.be/L0ahbGPDjZE</a></p> </div> <p> </p> <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"> <div class="news_row_main clearfix"> <div class="news_right"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/the-u-s-election-is-getting-ugly-and-investors-are-getting-nervous/" target="_blank" rel="noopener noreferrer">The U.S. election is getting ugly – and investors are getting nervous</a></h2> <p>Quoted: David R. Kotok | Posted on: 07/31/2020 <a class="read" href="https://www.cumber.com/the-u-s-election-is-getting-ugly-and-investors-are-getting-nervous/" 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/favor-asia-economies-that-are-managing-pandemic-kotok-radio/" target="_blank" rel="noopener noreferrer">Favor Asia Economies That Are Managing Pandemic: Kotok (Radio)</a></h2> <p>Quoted: David R. Kotok | Posted on: 07/30/2020 <a class="read" href="https://www.cumber.com/favor-asia-economies-that-are-managing-pandemic-kotok-radio/" 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/largest-municipal-bond-deals-coming-from-texas-colo-and-calif/" target="_blank" rel="noopener noreferrer">BondBuyer – Largest municipal bond deals coming from Texas, Colo. and Calif.</a></h2> <p>Quoted: Shaun Burgess | Posted on: 07/24/2020 <a class="read" href="https://www.cumber.com/largest-municipal-bond-deals-coming-from-texas-colo-and-calif/" 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/treasuries-yields-fall-ahead-of-tips-auction/" target="_blank" rel="noopener noreferrer">TREASURIES-Yields fall ahead of TIPS auction</a></h2> <p>Quoted: John R. Mousseau, CFA | Posted on: 07/23/2020 <a class="read" href="https://www.cumber.com/treasuries-yields-fall-ahead-of-tips-auction/" 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> <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> </p> <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> </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"></header> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-markets-election-axios-poll/" rel="bookmark">Markets, Election, Axios Poll</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 31, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-markets-election-axios-poll/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2019/02/Market-Commentary-Cumberland-Advisors-Generic-for-2019-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2019/02/Market-Commentary-Cumberland-Advisors-Generic-for-2019-672x372.jpg 672w, /sites/default/files/uploads/2019/02/Market-Commentary-Cumberland-Advisors-Generic-for-2019-1038x576.jpg 1038w" alt="Cumberland Advisors Market Commentary" width="672" height="372" /> </a>For the next 100 days or so, the growing focus on the US election may drive news flows and alter markets. Remember, though, there is a chasm between what polls are saying now and what markets are pricing as expectations for tomorrow. Most market agents are looking at 2021 and are now focused on a […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-us-stock-market-sectors-gainesville-florida/" rel="bookmark">US Stock Market Sectors & Gainesville, Florida</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 29, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-us-stock-market-sectors-gainesville-florida/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-US-Stock-Market-Sectors-Gainesville-Florida-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-US-Stock-Market-Sectors-Gainesville-Florida-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-US-Stock-Market-Sectors-Gainesville-Florida-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - US Stock Market Sectors & Gainesville Florida" width="672" height="372" /> </a>We were about to publish this commentary on the American stock market sectors when a news item about the healthcare sector crossed our screen. So we have decided to lead with it and then go to the stock market. Here is a fresh report about behavior and its consequences at a medical school in Gainesville, […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-a-modest-proposal/" rel="bookmark">A Modest Proposal</a></h2> <h6><strong>Author:</strong> Robert Eisenbeis, Ph.D., <strong>Post Date:</strong> July 28, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-a-modest-proposal/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-A-Modest-Proposal-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-A-Modest-Proposal-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-A-Modest-Proposal-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - A Modest Proposal" width="672" height="372" /> </a>“In practice, the Fed has never adopted operating procedures designed to control reserves in order to use the money multiplier relationship to control deposits.” (Goodfriend and Hargraves, “A Historical Assessment of the Rationales and Functions of Reserve Requirements,” Source: https://www.richmondfed.org) In response to the pandemic crisis, the Federal Reserve has cut the federal funds rate […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-update-on-fed-repo-and-reverse-repo-facility/" rel="bookmark">Update on Fed Repo and Reverse Repo Facility</a></h2> <h6><strong>Author:</strong> Robert Eisenbeis, Ph.D., <strong>Post Date:</strong> July 27, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-update-on-fed-repo-and-reverse-repo-facility/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Update-on-Fed-Repo-and-Reverse-Repo-Facility-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Update-on-Fed-Repo-and-Reverse-Repo-Facility-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Update-on-Fed-Repo-and-Reverse-Repo-Facility-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - Update on Fed Repo and Reverse Repo Facility" width="672" height="372" /> </a>Details on offerings and takedowns are interesting and provide clues as to the state of liquidity, even given the large volume of Treasuries coming to market.</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-rebekah-jones/" rel="bookmark">Rebekah Jones</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 26, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-rebekah-jones/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-A-Duel-Over-Data-Or-Three-Cheers-for-Rebekah-Jones-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-A-Duel-Over-Data-Or-Three-Cheers-for-Rebekah-Jones-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-A-Duel-Over-Data-Or-Three-Cheers-for-Rebekah-Jones-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - A Duel Over Data (Or, Three Cheers for Rebekah Jones)" width="672" height="372" /> </a>A Duel Over Data (Or, Three Cheers for Rebekah Jones) On April 20, 2020, Dr. Deborah Birx, response coordinator for the White House Coronavirus Task Force, praised the Florida Department of Health website for its useful detail: “The Florida Department of Health’s website is extraordinary, and this is what every department of health should have…. […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-inflation-coming-maybe-maybe-not/" rel="bookmark">Inflation coming? Maybe, maybe not?</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 23, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-inflation-coming-maybe-maybe-not/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Inflation-coming-Maybe-maybe-not-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Inflation-coming-Maybe-maybe-not-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Inflation-coming-Maybe-maybe-not-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - Inflation coming Maybe, maybe not" width="672" height="372" /> </a>There are many prescriptions and forecast models for a coming inflation or the lack of it. They range widely. Some forecasts include deflation. Inflation adjusted bonds (like TIPS) are currently priced for very low inflation. Nominal bond markets are saying that little to no inflation is expected. That is why high grade bonds are pricing […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-the-fed-nonprofits/" rel="bookmark">The Fed & Nonprofits</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 21, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-the-fed-nonprofits/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-The-Fed-Nonprofits-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-The-Fed-Nonprofits-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-The-Fed-Nonprofits-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - The Fed & Nonprofits" width="672" height="372" /> </a>The extraordinary and massive COVID-19 economic shock has triggered another first-time action by our nation’s central bank. The Fed now has expanded a facility directed at lending to nonprofits. Among those nonprofits targeted are “educational institutions, hospitals, and social service organizations.” Here’s the link to the July 17 press release announcing the modification of the […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-chinese-economy-global-locomotive-but-significant-risks/" rel="bookmark">Chinese Economy: Global Locomotive but Significant Risks</a></h2> <h6><strong>Author:</strong> William Witherell, Ph.D., <strong>Post Date:</strong> July 20, 2020</h6> </header> <div class="entry-summary"> <p><a class="post-thumbnail" href="https://www.cumber.com/cumberland-advisors-market-commentary-chinese-economy-global-locomotive-but-significant-risks/"> <img class="attachment-post-thumbnail size-post-thumbnail wp-post-image aligncenter" src="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Chinese-Economy-Global-Locomotive-but-Significant-Risks-672x372.jpg" sizes="(max-width: 672px) 100vw, 672px" srcset="/sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Chinese-Economy-Global-Locomotive-but-Significant-Risks-672x372.jpg 672w, /sites/default/files/uploads/2020/07/Market-Commentary-Cumberland-Advisors-Chinese-Economy-Global-Locomotive-but-Significant-Risks-1038x576.jpg 1038w" alt="Market Commentary - Cumberland Advisors - Chinese Economy Global Locomotive but Significant Risks" width="672" height="372" /> </a>China’s economy, the second largest in the world after that of the United States, is recovering from a sharp slowdown in the first quarter of the year. The first estimate of the annualized second-quarter GDP growth rate is +3.2% versus 2.4% expected, a strong reversal from -6.8% in the first quarter. The advance indicates that […]</p> <hr /> </div> <header class="entry-header"> <h2 class="inner_text_heading"><a href="https://www.cumber.com/cumberland-advisors-market-commentary-the-room-where-it-happened-responses/" rel="bookmark">The Room Where It Happened Responses</a></h2> <h6><strong>Author:</strong> David R. Kotok, <strong>Post Date:</strong> July 19, 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-responses/"> <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>Last Sunday morning we offered readers “The Room Where It Happened” (https://www.cumber.com/cumberland-advisors-market-commentary-the-room-where-it-happened/). We thank many readers for their kind replies. Here are just a few. Harvey wrote: “All I can say is, patience is a virtue, along with not wanting to spend hundreds to see a play, no matter how well done, when we knew […]</p> </div> <div class="entry-summary"> <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 27, 2020 - Jul 31, 2020)

CUMBERLAND ADVISORS' WEEKLY RECAP

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