Cumberland Advisors

The minutes of the most recent FOMC meeting, released last week, have gotten much attention. This is in part because of details the Committee provided regarding its discussions about framing the...

The slowdown in China’s economy, which in the first half had been one of the negative factors affecting the global economy and equity markets, appears to have come to an end, with Chinese...

We are back in Wyoming in pre-meeting conversations before the July 11 GIC conference. Concerns about the world are evident here. Serious discussions are occurring about geopolitical risk implications...

We thank readers for their comments on our second-quarter market discussion. We also thank readers for the kind words extended to my colleagues and me at Cumberland Advisors for our recognition as one...

Last week was a difficult one for the Commonwealth of Puerto Rico. On Wednesday and Thursday, the governor and legislature passed a law creating a statutory framework for the Commonwealth’s...

Japan Prime Minister Shinzo Abe has updated the “third arrow” of his economic policy, a wide-ranging package of economic reforms aimed at lifting the growth of Japan’s economy. His...

After a positive first quarter, taxable fixed-income markets enjoyed an encore favorable performance for the second quarter. U.S. and global economic data, geopolitical unrest between Russia and the...

The municipal bond market continued to roar ahead in the second quarter with long tax-free yields continuing their decline in April and May before rising slightly in June. Many of the same factors...

“Why is the oil price not rising more?” asked Tom Keene during his interviews on this morning’s Bloomberg Surveillance. Our answer: we are witnessing the early, still-evolving stage...

“Why is the oil price not rising more?” asked Tom Keene during his interviews on this morning’s Bloomberg Surveillance. Our answer: we are witnessing the early, still-evolving stage...

“Everything is soothed by oil,” said Pliny the Elder (AD 23 – AD 79, Roman author, naturalist, and natural philosopher, as well as a naval and army commander). Two millennia ago he...

Now what? Maybe it’s time to cut some of the asparagus?Stocks have reached levels that carry warning signs. They are at historical peaks relative to GDP, with the only exception being the tech...

The European Central Bank (ECB) followed through with the central bank’s Resident Mario Draghi’s promise last month that the Bank would act decisively at their June meeting to counter the...

Tech stocks and related ETFs have taken a beating this year as investors, trying to gauge the strength of the U.S. economy, have fled momentum stocks in favor of more defensive sector such as...

The last few weeks have seen a very decent drop in intermediate- and longer-term tax-free bond yields. This year’s stable muni market is very different from that of a year ago, when the great...

The 10-year benchmark US Treasury yield is now 2.5%. That's right – one can loan money to the United States in a riskless transaction, earn 2.5% interest, and be paid back in 10 years. The...