UBS On-Air: Market Moves

As investor interest in commodities has reached a multi-year high, Asset Allocation Strategist, Ian Spencer, joins to review commodity basics, evaluates various investment rationales for adding commodities to a portfolio, explores portfolio construction considerations including allocation size and funding approaches, and summarizes investment recommendations. Host: Daniel Cassidy

As the summer season continues, Burkhard shares his thoughts on recent trends across global equity markets by outlining the factors behind volatility and what might support a recovery. Plus, some takeaways from a recent visit to Qatar as the US-Iran conflict persists and oil is once again on the rise. We conclude with some final thoughts on the World Cup and the tournament’s outcome this past weekend.

Iran struck tankers attempting to traverse the Strait of Hormuz, potentially undermining shipowners’ confidence in US protection. The Houthi struck at tankers in the Red Sea—this has always been a key area of vulnerability. Investors are likely to look for US conciliation as a de-escalation signal, and absent that have pushed oil prices higher.

Following the outperformance of munis during 1H26 relative to other US fixed income assets, Sudip and Jeannine join to share performance expectations for the balance of the year, and share how to think about positioning. Featured are Sudip Mukherjee, Senior Fixed Income Strategist Americas, and Jeannine Lennon, Senior Municipal Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Inside Washington DC the current focus seems to be trade tariffs, although the affordability crisis continues to be the focus in the wider economy. US President Trump suggested US consumers of imported generic pharmaceuticals would have to pay a 100% tariff from August 2027, and 200% from August 2029. The US has notably higher health care costs relative to developed European economies, and such a cost would add further to US prices.