Thank you for joining Cumberland Advisors for this Friday, July 09, 2021, end-of-week update on market conditions, equities & bonds with our Executive Vice President & Director of Equity Strategies, Matt McAleer and our Senior Vice President of Research & Portfolio Manager, Patricia Healy, CFA.
- Some volatility in Equity Market this week
- Has the economy peaked and is that a problem?
- There's been a change in character in this market. Matt provides color.
- We have charts to share pertaining to the first half of 2021
- We first look at the chart, Max Drawdown by Calendar Year
- The next chart explores various years by halves to illustrate the lack of a clear correlation to drawdowns in any first half of a year to the year's second half.
- We have to trade what we see from day to day, week to week and remain flexible.
- Matt explains cash levels and how he's positioning portfolios based upon current conditions in the market.
- Our International Portfolio works to weight heavier in developed markets vs. emerging.
- Matt talks about other strategies and what's behind the changes we've made
Patricia Healy, CFA - Fixed Income:
- Short week, many on vacation too. Reason for volatility?
- Patty provides numbers on Treasuries & Munis and gives us her perspective as to why they're at their current levels.
- FOMC meeting indicates for now that the Fed won't move too much, with inflation spike seen as only transitory.
- Patty has a chart to share tracking US Treasury rates
- We expect rates to creep slowly upward as normalcy returns
- Not much issuance this week with Munis. Demand, payments, and taxes all in play affecting Munis.
- Unemployment a little higher than expected this week.
- About nine billion in Muni supply coming online next week.
- Enjoy your weekend!
Have a great weekend!
-Matt McAleer & Cumberland Advisors
Please send Matt McAleer any feedback from today's email/video. You can reach him at:
-Link to Matt's Email: [email protected]
-Link to Matt's Twitter: https://twitter.com/MattMcAleer4
-Link to Matt's LinkedIn: https://www.linkedin.com/in/matthew-c-mcaleer/
-Call Matt: (800) 257-7013
Other questions or comments? Email us at [email protected] or give us a call at (800) 257-7013.
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