UBS On-Air: Market Moves

Dan rejoins the conversation with Jason to exchange thoughts on how to approach asset allocation in today’s market and macro environment. We also spend time weighing potential directions for US monetary policy, along with geopolitical considerations, and factors that could impact fixed income return throughout the second-half of the year. Featured are Jason Draho, Head of Asset Allocation Americas with the UBS Chief Investment Office, and Dan Ivascyn, Group Chief Investment Officer for PIMCO. Host: Daniel Cassidy

Iran’s missile strikes against US Gulf military bases pushed oil prices modestly higher. It is a reminder of the challenge for investors—Iranians are clearly setting the agenda in the Gulf war, and investors do not know how to analyze the motives of the Iranian military. This constrains investors’ ability to price in plausible scenarios, and leaves little other than the default optimism bias to influence markets.

Hear from members of the UBS Chief Investment Office fixed income team as they provide a performance and positioning update across fixed income sub-sectors. Featured are Leslie Falconio, Head of Taxable Fixed Income Strategy Americas, along with Senior Fixed Income Strategists’ Letty Zemaitis, Frank Sileo, Sudip Mukherjee & Sangeeta Marfatia, from the UBS Chief Investment Office.

A quarterly check-up on the US macroeconomic environment, including consumer spending trends, the condition of the labor market, the road ahead for monetary policy, and the current landscape for deal-making. Featured is Paul Hsiao, Senior Asset Allocation Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Technology equities are having one of their periodic convulsions—without any obvious economic driver. The South Korean market is at levels last seen in April. This underscores the speed of technology equities’ rise; that speed limits the correction’s economic consequences. Households are still likely to spend—cash stockpiles and the ability to reduce how much income has been saved, more than equity wealth effects, have been sustaining consumer spending.