The Institutional Risk Analyst

In this issue of The Institutional Risk Analyst, we feature a comment by Robert Eisenbeis, Ph.D., Vice Chairman & Chief Monetary Economist at Cumberland Advisors. We continue to believe that the Federal Open Market Committee (FOMC) will not change the target for Fed funds during 2019. When will the equity markets connect the proverbial dots? In the commentary leading up to the June meeting, I argued that some relaxation of the tariff issues with Mexico, combined with relativ

In this issue of The Institutional Risk Analyst, we feature a comment from our fellow fisherman David Kotok, Chairman & Chief Investment Officer of Cumberland Advisors (www.cumber.com), which was published earlier this week. A number of people have asked about the widening spread between LIBOR and the comparable rate in the US. The short answer is that, yes, it is a structural problem and may be a warning of future contagion ahead. Questions? Join us Thursday at the Univer

In this issue of The Institutional Risk Analyst, we feature a comment by John Mouseau, Executive Vice President & Director of Fixed Income at Cumberland Advisors. You can read more of Cumberland's always timely comments on the financial markets at www.cumber.com. Sarasota | The Wall Street Journal had a story on the front page of the “B” section Wednesday morning about banks getting some relief with regard to counting municipal bonds among their “liquid assets.” On Tuesday t

In this issue of The Institutional Risk Analyst, let’s first ponder last week’s revelations that the European Central Bank is taking a loss on its purchase of bonds issued by Steinhoff International, the high flying (and highly levered) South African-based home retailer that was struck down by an accounting fraud scandal. This event illustrates how central banks have distorted the credit markets and allowed inferior borrowers access credit at investment grade spreads. This n