UBS On-Air: Market Moves

Paula re-joins Jason in studio for a discussion around the US macroeconomic environment, including an outlook for growth, and Fed rate cuts. We also discuss the factors driving equity market momentum, valuations, and portfolio positioning preferences. Featured is Paula Campbell Roberts, Chief Investment Strategist for Global Wealth, Global Client Solutions, Global Macro and Asset Allocation at KKR...

We should be getting US personal income and spending data today, but because the US lacks a properly functioning government we are getting no such thing. This matters because the resilient middle-income consumer has kept the US from recession this year. Credit card data hints that this is still the case, but if fear of unemployment were to rise, downside risks would quickly emerge. The longer the...

Mike Contopoulos rejoins Leslie Falconio for a discussion around year-end asset class performance expectations, the implications of a lower rate environment to fixed income, positioning views & more. Featuring Mike Contopoulos, Deputy Chief Investment Officer, & Director of Fixed Income for Richard Bernstein Advisors, as well as Leslie Falconio, Head of Taxable Fixed Income Strategy Americ...

The Federal Reserve spoke with an almost British accent yesterday, cutting rates a quarter point with a Bank of England-like three-way vote split. Fed Chair Powell signaled that a December cut was not inevitable. While a majority clearly favored insuring against the risks of a brittle US labor market today, there are fears about future inflation pressures and the lack of credible US economic data.

Leslie and John stop by on Fed Day for an update on fixed income markets, positioning views, and an outlook for monetary policy. We also examine the current state of funding markets and how they relate to quantitate tightening (QT). Featured is Leslie Falconio, Head of Taxable Fixed Income Strategy Americas, & John Murtagh, Fixed Income Analyst Americas, UBS Chief Investment Office. Host: Dani...

The Federal Reserve is expected to cut rates a quarter point. The absence of credible short-term data since the last Fed meeting means policymakers cannot follow Fed Chair Powell’s “data dependency” mantra and must instead focus on economic trends. Market interest will be focused on the spectrum of views, the tone of the press conference, and (inevitably) speculation about Powell’s successor.

On this week’s episode of Viewpoints, Burkhard reflects on the current upward equity market momentum and answers the age-old question: “Are we in a bubble?”. Burkhard also compares the current environment to the TMT-bubble of the late 90s, and offers guidance on how to position in the current environment.

We examine the current situation in Venezuela, including a look at the opportunities and challenges facing Venezuela’s economy. Plus, thoughts as to how Venezuela’s recovery could affect the region and international investors, along with an outlook for the country’s financial assets. Featured are Alejo Czerwonko, CIO for Emerging Markets Americas, & Alberto Rojas, Senior Emerging Markets Strat...

The IMF suggested that the US government debt-to-GDP ratio will exceed that of Italy by the end of the decade. There is no reason to suppose this IMF forecast is more accurate than any other IMF forecast, but the trend is clear. Italian parallels are a reason not to panic. Italy is a very wealth country, and has successfully mobilized private wealth to help fund its debt. The US is a reasonably we...

Jason sets the table for a busy week ahead which includes several Mag 7 Q3 earnings reports, the highly anticipated APEC summit, and October FOMC meeting. Jason also suggests the two most important numbers in economics. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host: Dan Cassidy

Trade tensions between the US and China appear to have moved into a “dial down” phase after the recent escalation. While details will probably not be given until the proposed meeting between US President Trump and China’s President Xi later this week, the threatened 100% tariff on US consumers of China’s exports appears to have been removed.

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth Management, briefs you on what’s the signal, and what’s just noise in the markets. This week - the October FOMC rate decision, and numerous Q3 corporate earnings releases. Recorded on 26 October 2025.

Tune in to hear from top portfolio managers and business heads from UBS Asset Management’s Muni, Taxable Fixed Income and Liquidity teams, as they share their views on markets and what they believe you should be focused on within the fixed income space.

Dan Cassidy welcomes Xingchen Yu, Emerging Markets Strategist Americas, for a timely update on China. Xingchen discusses CIO’s latest upgrades to China tech and offshore Chinese equities, the macro outlook and consumption trends, and the strategic priority of tech self-sufficiency highlighted in the latest Fourth Plenum. The conversation also covers how evolving US-China relations are shaping inve...

US President Trump announced trade negotiations with Canada would end. Trump is unhappy with the Province of Ontario’s adverts, directly quoting US President Reagan arguing against tariffs on economic grounds. Previous negotiation breakdowns focused on policy issues, which were more readily resolved. However, only a limited part of US-Canada trade is affected by this, and precedent does suggest an...

Andrew Mattock is a Portfolio Manager focused on Chinese equities at Matthews Asia. We discuss the macro factors that have driven China’s markets, and how conditions might evolve in the months ahead. Plus, a look at how Artificial Intelligence and US trade policy might shape China’s market outlook, a review of market risk considerations, and how to approach an allocation to China. Host: Daniel Cas...

There has been a small blip in the oil price following the US announcement that two Russian energy companies would be blacklisted. US President Trump intends to raise the issue of China’s Russian oil purchases with China’s President Xi next week (assuming that meeting goes ahead). In the context of the recent oil price decline, the overnight price move is economically negligible—politics is the on...

On this week’s episode of Viewpoints, Burkhard shares his thoughts on the performance of gold and the drivers behind 2025 performance, along with how gold fits in with broader precious metals price action (including silver). Plus, a topical gold-related book recommendation.

Mindful of a flattening yield curve, Sudip and Jeannine join to explain where opportunities exist within munis. We also cover a performance update and outlook for the asset class, following a strong month of September which delivered a notable increase of inflows. Featured is Sudip Mukherjee, Senior Fixed Income Strategist Americas, and Jeannine Lennon, Municipal Strategist Americas, UBS Chief Inv...

UK September consumer price inflation was lower than expected. Air fares and fuel prices added, but food prices seem to have been subject to more general discounting. Previously, food prices mainly experienced discounts for supermarket loyalty card holders, which is not captured in the official inflation data.

Tune in for a performance update and outlook for emerging market equities. We also explain the thinking behind CIO’s recent upgrade of Emerging Market equities, along with Mainland China and the China tech sector. Plus, thoughts on key risk events and opportunities outside of China to be mindful of. Featured are Xingchen Yu, Emerging Markets Strategist Americas, & Laura Smith, Investment Speci...

South Korea’s early October export data showed strength when adjusted for differences in working days. As is now standard, semiconductor exports led this export surge. Auto exports were weakened by US tariffs, but trade with the rest of the world continues to be more or less as normal.

Jason joins to outline the current positioning recommendations and investment outlook from CIO (per the November UBS House View), including thinking behind the upgraded view on equities. We also cover investment risks for the current environment, highlight factors that underpin CIO’s investment outlook, and review the latest messages in focus. Featured is Jason Draho, Head of Asset Allocation Amer...

Financial markets have been pushed around by trade, again. This time the reaction has been positive, as the US seems to have moved away from its more antagonistic position towards China. While the back and forth over trade has certainly done some economic damage, equity markets have reacted more dramatically than the real economy.

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth Management, briefs you on what’s the signal, and what’s just noise in the markets. This week - September inflation data (CPI), ahead of the upcoming October Fed rate decision. Recorded on 19 October 2025.