UBS On-Air: Market Moves

Talking Markets Podcast with Patricia Zobel of Guggenheim Partners

31 Jul 2025

Contributed by Lukas

Patricia Zobel serves as Head of Macroeconomic Research and Market Strategy for Guggenheim Partners Investment Management, and previously served as an...

UBS On-Air: Paul Donovan Daily Audio 'US inflation in isolation'

31 Jul 2025

Contributed by Lukas

The Federal Reserve offered no surprises on rates. Fed Chair Powell tried to present the two dissenting views as being rationally based, but investors...

UBS On-Air: Paul Donovan Daily Audio 'Perceptions of political puppeteering'

30 Jul 2025

Contributed by Lukas

The Federal Reserve meets to decide interest rates—over a hundred economists expect no change. The question is whether one can credibly disagree, wi...

UBS On-Air: Paul Donovan Daily Audio 'The data in focus'

29 Jul 2025

Contributed by Lukas

The US June trade balance is due—a number once overlooked but which politics has made it matter. Are international investors rushing to buy more US-...

Top of the Morning: CIO Strategy Snapshot - The Great Risk Transfer

28 Jul 2025

Contributed by Lukas

Jason drops by the studio to preview a busy week that includes an abundance of Q2 earnings results, the July FOMC meeting, and the July employment rep...

UBS On-Air: Paul Donovan Daily Audio 'Bad news or good news?'

28 Jul 2025

Contributed by Lukas

The EU and the US agreed that US consumers should pay more tax—levied at 15% for imports from the EU. EU President von der Leyen made vague pledges ...

Ahead of the curve with Ulrike Hoffmann-Burchardi

28 Jul 2025

Contributed by Lukas

Tune in every Monday morning ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth ...

Navigating macroeconomic & geopolitical risks with Arif Joshi, Lazard Asset Management

25 Jul 2025

Contributed by Lukas

Arif Joshi serves as a Portfolio Manager and Analyst on Lazard Asset Management's Emerging Markets Debt team. Our conversation focuses on recent ...

UBS On-Air: Paul Donovan Daily Audio 'Independence Day'

25 Jul 2025

Contributed by Lukas

From time to time, these comments might have given the impression of dissatisfaction with Federal Reserve Chair Powell. While one can (very) credibly ...

Washington Weekly Podcast: Trade deals, Congressional redistricting, Early recess

24 Jul 2025

Contributed by Lukas

Shane drops by to share the latest developments on trade, spanning Japan to the European Union. We also touch on efforts by both sides of the isle to...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 41)

24 Jul 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard shares some boots-on-the-ground insights from Germany, as he explains the drivers behind Germany’s ...

UBS On-Air: Paul Donovan Daily Audio 'Can the Fed be saved?'

24 Jul 2025

Contributed by Lukas

US Commerce Secretary Lutnick suggested US rates should be cut now, and Federal Reserve Chair Powell should resign or be fired. Do investors want to l...

UBS On-Air: Paul Donovan Daily Audio 'Who to scapegoat when trade deals are done?'

23 Jul 2025

Contributed by Lukas

The proposed US-Japan trade deal means US buyers of Japanese goods (including autos) face a 15% tax. Steel is still taxed at 50%. Of course, deals are...

Top of the Morning: CEO Macro Briefing Book - Insights on taxes

22 Jul 2025

Contributed by Lukas

Paul rejoins in-studio to spotlight a special edition of the CEO Macro Briefing Book publication series which covers tax and economic considerations t...

UBS On-Air: Paul Donovan Daily Audio 'Independence in focus'

22 Jul 2025

Contributed by Lukas

US Treasury Secretary Bessent suggested a “wholesale review” of the Federal Reserve was necessary (while supporting central bank independence). In...

Top of the Morning: CIO Strategy Snapshot - Summer slowdown?

21 Jul 2025

Contributed by Lukas

Despite relatively low trading volumes and narrow trading ranges as of late, there is still plenty factors top of mind for investors that could stir u...

UBS On-Air: Paul Donovan Daily Audio 'Trade continues elsewhere'

21 Jul 2025

Contributed by Lukas

South Korean export data for the first part of July showed growth, adjusted for differences in working days. Semiconductor sales were strong, and expo...

Ahead of the curve with Ulrike Hoffmann-Burchardi

20 Jul 2025

Contributed by Lukas

Tune in every Monday morning ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth ...

How should I be positioned? with Torsten Slok (Apollo) and Jason Draho (UBS CIO)

18 Jul 2025

Contributed by Lukas

Torsten rejoins Jason in the New York podcast studio to exchange thoughts on Fed independence (and the course for monetary policy), the direction of U...

UBS On-Air: Paul Donovan Daily Audio 'Can anyone argue for rate cuts?'

18 Jul 2025

Contributed by Lukas

After this week’s events, the question is whether anyone can advocate for US rate cuts without being seen as a political puppet? Yesterday, Federal ...

UBS AI Podcast - CEO Series - Ep. 4 (Dr. Kai-Fu Lee, CEO of 01.AI)

17 Jul 2025

Contributed by Lukas

The UBS AI Podcast explores the fascinating and evolving world of artificial intelligence, how it's transforming industries, redefining what's...

Top of the Morning: Fixed Income Strategist - Navigating through the fog

17 Jul 2025

Contributed by Lukas

With 2H25 now underway, Leslie shares a performance outlook for fixed income assets, along with outlines positioning and risk considerations. We also...

UBS On-Air: Paul Donovan Daily Audio 'The dangers of being surprised'

17 Jul 2025

Contributed by Lukas

US President Trump has recently shown an eagerness to change the media narrative. The narrative changed yesterday with speculation about the future of...

Washington Weekly Podcast: Crypto week, Tariffs, Russia-Ukraine

16 Jul 2025

Contributed by Lukas

Shane drops by to highlight the legislative focuses of Congress post One Big Beautiful Bill, including a look into “Crypto Week” which is currentl...

UBS On-Air: Paul Donovan Daily Audio 'Inflation games'

16 Jul 2025

Contributed by Lukas

US June consumer price inflation gave some troubling signals about data quality—not only are fewer prices being measured, there is circumstantial ev...

Top of the Morning: Muni Market - 2H25 Outlook: The better half

15 Jul 2025

Contributed by Lukas

A mid-year performance recap and outlook for the municipal bond market, including a look at why munis are poised for a better second-half performance....

UBS On-Air: Paul Donovan Daily Audio 'And so it begins? '

15 Jul 2025

Contributed by Lukas

US June consumer price inflation is the first number that might show trade tax effects. Only half the expected trade tax rise has hit the economy so f...

Top of the Morning: CIO Strategy Snapshot - Don’t call it a comeback

14 Jul 2025

Contributed by Lukas

Jason weighs in on range of top-of-mind topics to begin the week, including the resurgence of tariff and Fed independence concerns, along with a previ...

UBS On-Air: Paul Donovan Daily Audio 'Randomness and the real world'

14 Jul 2025

Contributed by Lukas

Financial markets seem content to assume US President Trump will default to retreating from their latest trade tax threats. If financial investors wan...

Ahead of the curve with Ulrike Hoffmann-Burchardi

14 Jul 2025

Contributed by Lukas

Tune in every Monday morning ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 40)

11 Jul 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard weighs whether investors are entering the summer season with a sense of complacency as markets hover ...

Top of the Morning: The week in review and preview

11 Jul 2025

Contributed by Lukas

Matt Tormey, Equity Strategist Americas from the UBS Chief Investment Office, joins Shiavon Chatman to recap the trading week - including an update on...

UBS On-Air: Paul Donovan Daily Audio 'The retreat paradox'

11 Jul 2025

Contributed by Lukas

The latest US tax increases were a 35% tax on products from Canada—in spite of Canadian concessions over digital taxes. It is not clear if the tax a...

Top of the Morning: Emerging Markets - Back in the spotlight

10 Jul 2025

Contributed by Lukas

Alejo rejoins in studio for a mid-year conversation on the Emerging Markets, including a recap of first-half performance drivers, expectations for the...

UBS On-Air: Paul Donovan Daily Audio 'Masterful inactivity'

10 Jul 2025

Contributed by Lukas

The Federal Reserve meeting minutes were a masterclass in the art of sitting on a fence. US President Trump’s trade tax inflation might be a one-off...

Navigating macroeconomic & geopolitical risks with Jordan Brooks, AQR Capital Management

09 Jul 2025

Contributed by Lukas

Jordan Brooks serves as Principal and Co-Head of the Macro Strategies Group at AQR Capital Management. With no shortage of macroeconomic and geopolit...

Top of the Morning: Emerging Markets - Investing in Brazil

08 Jul 2025

Contributed by Lukas

A look at the investment case for Brazil, and why the environment of today differs from that of the past. We also discuss the implications of a weake...

UBS On-Air: Paul Donovan Daily Audio 'The new tax wave'

08 Jul 2025

Contributed by Lukas

US President Trump announced the start of a new wave of taxes on US consumers, with a 25% tax on US citizens who want to buy products from South Korea...

Top of the Morning: POTUS 47 - One Big Beautiful Bill & US trade policy

07 Jul 2025

Contributed by Lukas

Kurt rejoins the conversation to outline the notable takeaways and investment implications of One Big Beautiful Bill, which was signed into law by Pre...

UBS On-Air: Paul Donovan Daily Audio 'Delays and retreats'

07 Jul 2025

Contributed by Lukas

The additional taxes US President Trump intended to impose on US consumers from Wednesday will now be delayed until 1 August. That means that, allowin...

Across the Pond: America is not the only AI game in town

06 Jul 2025

Contributed by Lukas

The US has been at the vanguard of the global AI revolution, having been responsible for the bulk of innovation, capital spending, and adoption. But t...

UBS On-Air: Paul Donovan Daily Audio 'Trade tax timing, and inflation'

04 Jul 2025

Contributed by Lukas

The US June employment report was strong enough in the headline to dispel ideas of a sudden US interest rate cut. It was troubling enough in the detai...

Tariffs, de-dollarization, and gold: Navigating market volatility

03 Jul 2025

Contributed by Lukas

While optimism over easing tariff risks has buoyed markets so far, the US administration’s tough trade stance and the Israel-Iran conflict continue ...

UBS On-Air: Paul Donovan Daily Audio 'Hints of labor market weakness?'

03 Jul 2025

Contributed by Lukas

Tomorrow’s US holiday means US labor market data appears today. There is a hint today’s report may be weak. US presidents normally see the data th...

The Energy Evolution: The road ahead & Investment considerations

02 Jul 2025

Contributed by Lukas

Jay Dobson is joined by Rob Thummel for an in-depth conversation about where we are in the energy evolution story, including a look at technological i...

UBS On-Air: Paul Donovan Daily Audio 'The UFP – Unsustainable Fiscal Position'

02 Jul 2025

Contributed by Lukas

The US Senate passed legislation to enshrine an unsustainable fiscal position into law. The bill goes to the House, where it may run into difficulties...

Artificial Intelligence: Energy requirements, Competitive landscape & more with Michael Lippert (Baron Capital)

01 Jul 2025

Contributed by Lukas

Michael Lippert is a Vice President, Portfolio Manager, and serves as the Head of Technology Research at Baron Capital. Listen to a wide-ranging conv...

UBS On-Air: Paul Donovan Daily Audio '90 degrees of deals'

01 Jul 2025

Contributed by Lukas

The US administration seems to be retreating from the idea of “90 trade deals in 90 days”. With less than a week to go, they have a half-hearted a...

Top of the Morning: CIO Strategy Snapshot - Mid-year checkup

30 Jun 2025

Contributed by Lukas

As we officially move into the second-half of 2025, Jason assesses the factors that have driven recent market performance and investor sentiment, alon...

UBS On-Air: Paul Donovan Daily Audio 'Budget battles'

30 Jun 2025

Contributed by Lukas

Over the past few days, Canada and the US stopped talking about trade, and started talking about trade again. Unusually, this was not a unilateral ret...

House Call: Talking Equity Markets with UBS Asset Management

29 Jun 2025

Contributed by Lukas

Join Jeff Hans, Portfolio Manager with UBS Asset Management, as he shares a performance update for US equities. We also cover an outlook for growth v...

CIO Fixed Income Roundtable Series: Mid-year performance update

27 Jun 2025

Contributed by Lukas

Hear from members of the UBS Chief Investment Office fixed income team as they provide a performance and positioning update across fixed income sub-se...

Washington Weekly Podcast: Middle East, NATO, Reconciliation package, Genuis Bill

27 Jun 2025

Contributed by Lukas

Shane drops by with the latest developments out of the Middle East, as we continue to monitor the US, Israel, Iran ceasefire, and assess last weekend’...

UBS On-Air: Paul Donovan Daily Audio 'Disinflation (not in the US)'

27 Jun 2025

Contributed by Lukas

Japan exhibited some disinflation with the June Tokyo consumer price data. Using the international definition of core inflation, the rate slowed to 1....

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 39)

27 Jun 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard shares his thoughts on recent geopolitical developments, and how global markets (including oil) have ...

UBS On-Air: Paul Donovan Daily Audio 'Independence Day'

26 Jun 2025

Contributed by Lukas

The Wall Street Journal reports US President Trump may announce the next Federal Reserve Chair in September or October. The Senate needs to confirm th...

How should I be positioned? with Dan Ivascyn (PIMCO) and Jason Draho (UBS CIO)

25 Jun 2025

Contributed by Lukas

Dan rejoins the conversation with Jason in studio to exchange thoughts on how to approach asset allocation in today’s market and macro environment. ...

UBS On-Air: Paul Donovan Daily Audio 'No cuts for now'

25 Jun 2025

Contributed by Lukas

In the US yesterday, Federal Reserve Chair Powell delivered a speech to members of the House of Representatives (most of whom are not economists). The...

Fixed Income Conversation Corner with Amanda Lynam (BlackRock) and Leslie Falconio (UBS CIO)

24 Jun 2025

Contributed by Lukas

Our conversation outlines the current landscape for fixed income investors and where to locate opportunity within the asset class. We also discuss th...

UBS On-Air: Paul Donovan Daily Audio 'As you were'

24 Jun 2025

Contributed by Lukas

Iran and Israel seem to be saying “if they stop, I’ll stop”, although there were some missile exchanges overnight. That is enough for markets, w...

Top of the Morning: CIO Strategy Snapshot - Start of the summer

23 Jun 2025

Contributed by Lukas

With the summer season now officially underway, it is already shaping up to be an eventful one for investors. In addition to this past weekend’s ge...

UBS On-Air: Paul Donovan Daily Audio 'Beware the deckchair generals'

23 Jun 2025

Contributed by Lukas

We live in a world of political polarization and soundbite economics. That encourages sensationalism. Deckchair generals will offer extreme opinions o...

Across the Pond: The Israel-Iran crisis and beyond

20 Jun 2025

Contributed by Lukas

UBS WM Chief Economist Paul Donovan discusses the current hostilities between Israel and Iran and what they might mean for the global economy and mark...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 38)

20 Jun 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard outlines potential scenarios as to how developments in the Middle East involving Israel and Iran coul...

UBS On-Air: Paul Donovan Daily Audio 'Prolonging uncertainty'

20 Jun 2025

Contributed by Lukas

European powers begin nuclear talks with Iran, and the US has signaled that it does not intend to decide on military strikes against Iran for two week...

UBS On-Air: Paul Donovan Daily Audio 'I mean, nobody knows what I’m going to do'

19 Jun 2025

Contributed by Lukas

The US Federal Deserve did as expected yesterday—nothing. The Fed’s dilemma can be summed up by a comment from US President Trump (in a different ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 38)

18 Jun 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard outlines potential scenarios as to how developments in the Middle East involving Israel and Iran coul...

Top of the Morning: A “Spending waterfall” to fund your retirement lifestyle

18 Jun 2025

Contributed by Lukas

Learn about how retirees can manage taxes when withdrawing from their accounts in retirement to ultimately improve their after-tax growth potential. ...

UBS On-Air: Paul Donovan Daily Audio 'Hints at consequences'

18 Jun 2025

Contributed by Lukas

Yesterday’s US data flurry gave hints about trade tax effects. Headline retail sales were weakened by poor auto sales. Some consumers bought cars ea...

Top of the Morning: Muni Market: Steadier, steeper, and cheaper

17 Jun 2025

Contributed by Lukas

We examine recent muni market performance, along with look at the investment case for the asset class against a backdrop of macro uncertainties. We a...

UBS On-Air: Paul Donovan Daily Audio 'Symbolism'

17 Jun 2025

Contributed by Lukas

US President Trump left the G7 summit a day early. Their departure does not change much of substance—the US was resisting a joint statement on Iran-...

Top of the Morning: CIO Strategy Snapshot - Navigating geopolitical & policy risk

16 Jun 2025

Contributed by Lukas

We begin the week by covering the conflict involving Israel and Iran, along with the potential market impacts (including to oil prices). Plus, a prev...

Top of the Morning: US-China trade, China’s economy, Global diversification

16 Jun 2025

Contributed by Lukas

Xingchen rejoins the conversation to share an update on US-China trade negotiations, along with a look at the health of China’s economy and markets....

UBS On-Air: Paul Donovan Daily Audio 'Military fallout'

16 Jun 2025

Contributed by Lukas

The ongoing exchange of missile strikes between Iran and Israel this weekend has not had a major impact on financial markets. The severity of Israel’...

Washington Weekly Podcast: Middle East, Capitol Hill, US-China trade & more

13 Jun 2025

Contributed by Lukas

Shane drops by to share the latest developments out of the Middle East involving Israel and Iran, along with notable domestic developments spanning pr...

Top of the Morning: The week in review and preview

13 Jun 2025

Contributed by Lukas

We close out another trading week by recapping US-China trade talks, the latest round of US inflation-data, along with other macro points of interest....

UBS On-Air: Paul Donovan Daily Audio 'Conflict'

13 Jun 2025

Contributed by Lukas

The scale of Israel’s air strikes against Iran were not anticipated by financial markets (US President Trump having suggested a deal with Iran was c...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 37)

12 Jun 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard outlines the factors behind the recovery of US equities, along with what could drive further momentum...

UBS On-Air: Paul Donovan Daily Audio 'Pricing bananas'

12 Jun 2025

Contributed by Lukas

Yesterday’s US consumer price inflation data showed, as expected, faint hints at the effects of trade taxes and clearer examples of weak demand. The...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 37)

11 Jun 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard outlines the factors behind the recovery of US equities, along with what could drive further momentum...

UBS AI Podcast - CEO Series - Ep. 3 (Joe Tsai, Chairman of Alibaba)

10 Jun 2025

Contributed by Lukas

A special edition fireside chat with Joe Tsai, Chairman of Alibaba, a global leader in e-commerce and artificial intelligence. Following introductory ...

UBS On-Air: Paul Donovan Daily Audio 'Perceptions versus realities'

10 Jun 2025

Contributed by Lukas

US President Trump has declared trade talks with China “not easy”. There may be a difference between the administration’s perception of its barg...

Top of the Morning: CIO Strategy Snapshot - Labor data, Trade update, DC roundup

09 Jun 2025

Contributed by Lukas

Jason rejoins in-studio to weigh in on a variety of factors that have (or have the potential to) move markets, including last week’s labor market da...

UBS On-Air: Paul Donovan Daily Audio 'Perception of politics'

09 Jun 2025

Contributed by Lukas

Media coverage of events in Los Angeles has been intense. There are economic and financial market consequences, but domestic and international investo...

Top of the Morning: POTUS 47 - Has the worst of the tariff threat passed?

08 Jun 2025

Contributed by Lukas

Kurt rejoins the conversation in studio to reflect on the latest developments surrounding US trade policy, along with how markets have reacted - plus,...

Top of the Morning: Emerging Markets - As goes the US dollar, so goes EM

08 Jun 2025

Contributed by Lukas

We check back in on the emerging markets by discussing the headwinds facing the US dollar, and what it all means for emerging market assets. Plus, a ...

Top of the Morning: The week in review and preview

06 Jun 2025

Contributed by Lukas

We close out the week by reflecting on the latest jobs numbers and what the results indicate about the health of the US labor market. We also review ...

UBS On-Air: Paul Donovan Daily Audio 'Hiring, firing, and imprecise data'

06 Jun 2025

Contributed by Lukas

The US May employment report is due, with the regular reminders that this data has become increasingly unreliable in recent years, and average earning...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 36)

06 Jun 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard outlines the investment case for global markets to continue their climb higher and provides a perform...

UBS On-Air: Paul Donovan Daily Audio 'Powell's policy problem'

05 Jun 2025

Contributed by Lukas

A total of 52 out of 52 surveyed economists expect a quarter point ECB rate reduction today. How could so many economists possibly be wrong?

How should I be positioned? with Richard Bernstein (RBA) and Jason Draho (UBS CIO)

04 Jun 2025

Contributed by Lukas

Rich rejoins the conversation with Jason to exchange thoughts around the evolution of US trade policy, the current market environment, the health of t...

UBS On-Air: Paul Donovan Daily Audio 'Beauty is in the eye of the beholder'

04 Jun 2025

Contributed by Lukas

US President Trump’s mega-donor Musk was strongly critical of the “big, beautiful bill” currently before Congress. The bill contains many things...

Top of the Morning: CIO Strategy Snapshot - Waiting for an inflection

03 Jun 2025

Contributed by Lukas

May was a good month for the markets, though there are many questions that investors are asking as we enter June, such as the fate of tariffs, the out...

UBS On-Air: Paul Donovan Daily Audio 'Talking in a trade war'

03 Jun 2025

Contributed by Lukas

Reports in Washington suggest US President Trump may talk directly with China’s President Xi later this week (after several days of more heated rhet...

UBS On-Air: Paul Donovan Daily Audio 'No Trump retreat yet'

02 Jun 2025

Contributed by Lukas

US President Trump doubled taxes on US consumers of imported steel on Friday, and (so far) has not retreated from that tax increase. Trump reacted ang...

Top of the Morning: The week in review and preview

30 May 2025

Contributed by Lukas

We close out the trading week by reviewing the latest developments surrounding US trade policy, recapping notable macro data releases (including a loo...

UBS On-Air: Paul Donovan Daily Audio 'More uncertainty in an uncertain world'

30 May 2025

Contributed by Lukas

There is yet more uncertainty in the US economy. US President Trump appealed the ruling that their trade taxes were illegal. While this is decided, th...

Across the Pond: Trump’s trade rollercoaster

29 May 2025

Contributed by Lukas

There has been no letup in the trade drama, with a US federal court striking down much of President Trump’s recent tariff hikes. That followed a sud...

Top of the Morning: Tariffs, the dollar, and diversification

29 May 2025

Contributed by Lukas

A timely review of overnight trade developments, plus a look at positioning recommendations within EM equities, and thoughts on the dollar. We also t...

UBS On-Air: Paul Donovan Daily Audio 'No reset to factory settings'

29 May 2025

Contributed by Lukas

The US trade court ruled that about half of US President Trump’s trade tax increases are illegal. Markets reacted positively, but the US has not bee...