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Markets, Munis, and MLK
January 16, 2022
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David R. Kotok
Chairman & Chief Investment Officer
Email | Bio
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Happy Martin Luther King, Jr. Day. In the video link below, we revisit a 1983 news clip on this 40th anniversary date of the holiday, first signed into law by Republican President, Ronald Reagan.
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2023 is off to an interesting start. Matt C. McAleer, Executive Vice President & Director of Equity Strategies, and John R. Mousseau, President, CEO, and Director of Fixed Income discuss last week's CPI report and what effect it's having on markets. John describes some "tougher sledding" from current conditions and the higher yields we've seen in the fixed income market. Matt talks about what's working and what we're looking for. Watch the "Jan 13, 2023 - Broad Bid! Cumberland Advisors' Week in Review" at this URL or via the graphic below: https://youtu.be/dtcfDmrpSgg
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John Mousseau checked in with The Bond Buyer last week to offer some observations about the fixed income market in their piece titled, "Muni yields keep falling as supply remains light."
This week's "manageable" calendar will continue what has been a quiet start to the year in the municipal market, which has been much less volatile than its taxable counterpart so far in 2023, according to John Mousseau, president and chief executive officer and director of fixed income at Cumberland Advisors.
Others say there is a more noticeable demand for higher coupons given the recent market strength and lack of supply.
This week, "should be a good barometer with a manageable calendar and most folks back in the saddle," Mousseau said.
"The attractiveness of taxable equivalent yields and their comparison to long-term equity returns on a risk-adjusted credit basis is starting to attract assets,'' he added.
You can read the full article, with subscription, at The Bond Buyer's website: https://www.bondbuyer.com/news/munis-yields-keep-falling-as-supply-remains-light
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Cumberland Advisors' Q4 2022 Quarterly Review
In this video, Matt and John provide a recap on market conditions and trading decisions that impacted Cumberland Advisors’ primary equity and fixed income investment strategies throughout the last quarter of 2022. View using the link above or at this URL: https://youtu.be/Wlc1llWH7AQ
We enjoy hearing from our clients, colleagues, and wider audience, so if you have any questions or comments regarding this review or another topic, please email us at info@cumber.com or give us a call at (800) 257-7013 during normal business hours. As a reminder, our office and markets are closed today in observance of Martin Luther King, Jr. Day.
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