Cumberland Advisors

At first, the announcement that Barclays (BCS) was paying $450 million to settle charges that it manipulated LIBOR during the financial crisis seemed like just another minor corporate scandal. After...

Javad Karimi-Qoddusi, a member of the parliamentary National Security and Foreign Policy Committee, said, "In line with this bill and Iran's sovereign rights, the Islamic Republic of Iran will not let...

“We affirm that it is imperative to break the vicious circle between banks and sovereigns.”  Press Release, Euro area summit, June 29, 2012European leaders have finally determined...

The municipal bond market is completing the halfway point of 2012 with a number of themes similar to those that were playing out last fall.Very cheap ratios in the intermediate and long end of the...

We have switched gears, moving from Leen’s Lodge in Maine and a baked pickerel for lunch to the shark-infested waters near Wall St. in NYC. We are scheduled to guest-host Bloomberg TV's...

Last week the Spanish government released reports on the results of “stress tests” applied to Spanish banks by two independent consulting firms. These indicated that Spanish banks will...

Fishermen plying the pristine waters of Maine tend to focus on bass and salmon, while they consider pickerel to be “trash fish.”  Pickerel have a mouthful of sharp teeth, linger in...

The FOMC extended “Operation Twist” through the end of the year and committed to move another $267 billion of assets from its holdings of securities with maturities of 3 years or less into...

We have regular morning email exchanges with several media friends. Bloomberg TV reporter Dominic Chu asked about our post-Fed-meeting view of macro, Fed, China, and markets.I sent him these...

As we approach the end of the second quarter, a familiar pattern has emerged. For the last three years we have seen yields rise in the fourth quarter, peak in the first quarter of the new year, and...

This weekend, leaders of 20 of the world’s largest economies headed to Mexico for a G-20 meeting, at which the outcome of the elections in Greece and the implications for Europe and global...

Europe continues to struggle with its banking, structural, and fiscal problems. The market’s reaction to Spain’s proposed €100 billion bank bailout was short-lived, suggesting that it...

“Remember: 7% is considered the danger point.”  – Sara Eisen, Bloomberg TV, as she opened the show Inside Track at 6 AM  This morning, Barclays called 7%...

Lesson number one is that whenever a politician publicly states that “Our banks are well-capitalized and safe,” then you know they're not. If we hadn’t already learned this lesson...

On Sunday, we published a note after the news broke that Spain had negotiated a €100-billion capital infusion for its banks. We applauded the move because it showed that Spain and eurozone...

Eurozone leaders rose to the occasion. They had no choice. The Spanish bailout means Europe will not permit “runs” to sink their banking system. Notice how we have not seen TV coverage of...