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Dear Clients & Friends, Thank you for watching Cumberland Advisors’ Friday, May 26, 2023 Week in Review, an end-of-week update on market conditions, equities & bonds with Matt C. McAleer, Executive Vice President & Director of Equity Strategies, and John R. Mousseau, President, CEO, and Director of Fixed Income. Matt McAleer & Equities Semiconductors stole the show this week Moved to 4200 level on S&P 500 off higher bottoms Market appears expensive fundamentally but showing solid technical breakout Equal weight tech strength is a positive for markets John Mousseau & Fixed Income Bond markets dominated by U.S. debt ceiling headlines What is the priority of payments if the government defaults? Amount of new issues in Municipal bonds to sell in jeopardy Large amount of money rolling over vs. upcoming deals available Read about Major Douglas A. Zembiec, USMC here: https://www.arlingtoncemetery.net/daz... Read about First Lieutenant Travis L. Manion, USMC here: https://www.arlingtoncemetery.net/tlm... Please send any feedback from today’s email/video to Matt McAleer. You can reach him at: Email: Matthew.McAleer@Cumber.com Twitter: / matthewcmcaleer LinkedIn: / matthew-c-mcaleer Call Matt: (800) 257-7013 ext. 346 Other questions or comments? Email us at info@cumber.com or give us a call at (800) 257-7013 Have a great weekend, -Matt, John & Cumberland Advisors