The latest September data for the eurozone economy from IHS Markit present a deteriorating picture, with the demand for goods and services falling at its fastest rate in over six years and a deepening recession in manufacturing.

As the third quarter comes to a close, it will go down as one of the most turbulent in recent memory for the Commonwealth of Puerto Rico. Civil unrest led to a number of high-profile resignations as well as to three different individuals holding the title of governor in the span of a week.

Impeachment is a political process. We watch it unfold with strenuous claims and counterclaims, as we did with the Nixon and Clinton episodes. We are writing about it because it impacts markets: Political outcomes impact policy, and that is where impeachment intersects markets. With the Clinton…

A flexible investment strategy that strives to analyze multiple asset classes, Tactical Trend strives to provide long term capital appreciation while focusing on risk vs. reward opportunities. Capital is deployed in the primary asset classes exhibiting strong relative strength vs. indexes and…

The dramatic drop in Treasury yields at the beginning of August caused the muni market to take a pause in its great relative performance earlier in the year.

The Cumberland Advisors Week in Review is a recap of news, commentary, and opinion from our team.

The week of September 16 saw the Federal Reserve Bank of New York inject funds into the repo market in response to an unusual spike in rates that was above the initial target range for the federal funds rate of 2.0–2.25%. (The target rate was lowered to 1.75–2.00% after the close of the FOMC’s…

“Absent a war or further attacks on Saudi facilities – both of which remain possibilities – this past week’s events now look like a blip in a longer-term bearish pattern for oil prices and stocks. Energy makes up less than 5% of the S&P 500 index’s market cap, the lowest level in at least 40…

Although the S&P 500 made new highs after the Federal Reserve cut interest rates in 2018 for the first time since the Great Recession, the hawkish rate cut was not enough to sustain the market rally, which was derailed by additional tariffs that President Trump announced on August 1st on $…

Treasury yields dropped throughout Q3 of 2019, with the biggest decline being the 30-year. As of 9/23/19 the 30-year Treasury had fallen 40.4 bps to 2.127%. We also saw a record low on the 30-year when it closed at 1.951% on 8/27/19. The 10-year was also down 32.7 bps, to 1.679%, as of 9/23/19.…