UBS On-Air: Market Moves

UBS On-Air: Paul Donovan Daily Audio 'Power and its limits'

28 May 2025

Contributed by Lukas

Equity markets seemingly rallied on optimistic comments from US President Trump around trade. So much focus on the words of one individual is unusual....

Across the Pond: Is gold’s remarkable run over?

27 May 2025

Contributed by Lukas

Until recently, gold’s rally seemed unstoppable. In an environment where perceived safe havens were scarce, gold stood out. However, in recent wee...

UBS On-Air: Paul Donovan Daily Audio 'Uncertainty hits forecasts'

27 May 2025

Contributed by Lukas

The US long weekend was marked by aggressive policies and then a retreat, but that still leaves its mark on financial markets. The US dollar remains n...

UBS On-Air: Paul Donovan Daily Audio 'Three reasons why'

26 May 2025

Contributed by Lukas

US President Trump has retreated from their threat to aggressively tax US consumers of European products, delaying the suggested 50% tariff to July. ...

UBS On-Air: Paul Donovan Daily Audio 'Better German growth'

23 May 2025

Contributed by Lukas

Administration comments suggest US President Trump is willing to increase taxes on US consumers of EU-made products, if the EU does not make unilatera...

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

22 May 2025

Contributed by Lukas

US President Trump labelled the budget proposal trying to pass Congress a “Big Beautiful Bill.” BBB might be an unfortunate alliteration given con...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 30)

21 May 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard reflects on the latest with respect to trade, tariffs, and the markets, along with previews what inve...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 30)

21 May 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard reflects on the latest with respect to trade, tariffs, and the markets, along with previews what inve...

UBS On-Air: Paul Donovan Daily Audio 'Big. Beautiful. Also bankrupt?'

21 May 2025

Contributed by Lukas

US President Trump urged Congress to pass the “big, beautiful” budget. An International Monetary Fund (IMF) official urged the US to consider its ...

Top of the Morning: Muni Market - A sigh of relief

20 May 2025

Contributed by Lukas

The team spotlights the factors behind the recent rally in munis, along with improving technicals, and the return of inflows. We also review the Hous...

Fireside chat with Bill Ackman and Ryan Israel

20 May 2025

Contributed by Lukas

Mark Axelowitz, Managing Director and UBS Private Wealth Advisor, and Solita Marcelli, Chief Investment Officer Americas, hosted a special fireside ch...

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

20 May 2025

Contributed by Lukas

The key message from yesterday’s pontification of Federal Reserve speakers was “uncertainty”. Uncertainty about policy, uncertainty about how co...

Top of the Morning: CIO Strategy Snapshot - What comes next?

19 May 2025

Contributed by Lukas

Jason rejoins in-studio to weigh in on the recent rally in US equities, the rise in rates over the past month, along with recent developments surround...

UBS On-Air: Paul Donovan Daily Audio 'Olympus has fallen?'

19 May 2025

Contributed by Lukas

A credit rating agency (it does not matter which) downgraded the US from something to something else. US President Trump’s current policies are unli...

Macro Monthly Podcast with UBS Asset Management

16 May 2025

Contributed by Lukas

Tune in monthly to hear from UBS Asset Management’s multi-asset team for thoughts on the global macro environment, and markets. Featured are Evan B...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 35)

16 May 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard shares his thoughts on a recent flurry of global deal-diplomacy and market recovery. We also reflect...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 30)

16 May 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard reflects on the latest with respect to trade, tariffs, and the markets, along with previews what inve...

UBS AI Podcast - CEO Series - Ep. 2 (Lin Qiao, CEO of Fireworks)

15 May 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: Building and refilling the Liquidity strategy

15 May 2025

Contributed by Lukas

Justin and Ainsley drop by the studio to explain the importance of funding a liquidity strategy, along with outline considerations when it comes to re...

Macro thoughts with Jonathan Pingle, UBS Investment Bank

14 May 2025

Contributed by Lukas

Jonathan Pingle, Chief US Economist with UBS Investment Bank, joins the podcast to share his thoughts on the state of the US economy. We also touch o...

UBS On-Air: Paul Donovan Daily Audio 'Data’s phony trade war'

14 May 2025

Contributed by Lukas

US consumer price inflation did not show many trade tax consequences. The slowing of tourism-related prices might reflect how visitors are wary of ent...

UBS On-Air: Paul Donovan Daily Audio 'Blink twice'

13 May 2025

Contributed by Lukas

Investors are inclined to view US President Trump’s early retreat from trade taxes on imports from China as significant, not just for themselves but...

Washington Weekly Podcast: Middle East trip, China trade, Tax legislation

12 May 2025

Contributed by Lukas

Shane drops by on a Monday to preview a busy week ahead, accounting for President Trump’s highly anticipated Middle East visit. We also spend time ...

Fixed Income Conversation Corner with Jeffrey Sherman (DoubleLine) and Leslie Falconio (UBS CIO)

12 May 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 '“Substantial progress”'

12 May 2025

Contributed by Lukas

Sino-US talks over the weekend were described by US Treasury Secretary Bessent as making “substantial progress” on trade. Presumably so important ...

Artificial Intelligence 101: Past, present & future impacts with Zhang Zhang (Polen Capital)

09 May 2025

Contributed by Lukas

Zhang Zhang is the Head of AI and Risk Analytics at Polen Capital. Listen to a wide-ranging conversation about the evolution of AI, where AI is being...

UBS On-Air: Paul Donovan Daily Audio 'Of mountains and molehills'

09 May 2025

Contributed by Lukas

Yesterday’s Anglo-US trade framework was preceded by substantial media spin but ultimately revealed only minimal substance. US consumers are worse o...

Top of the Morning: POTUS 47 - The next 100 days

08 May 2025

Contributed by Lukas

The first 100 days marker of President Trump’s second term has been reached - Kurt Reiman, Head of Fixed Income Americas (UBS CIO), reflects on the ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 34)

08 May 2025

Contributed by Lukas

Having just returned from an enlightening and productive trip to Riyadh, Saudi Arabia, Burkhard shares his reflections on the Saudi economy’s progre...

UBS On-Air: Paul Donovan Daily Audio 'How far, how fast is the retreat?'

08 May 2025

Contributed by Lukas

Federal Reserve Chair Powell pointed out that uncertainty had risen, and that inflation and unemployment might rise. These are all eloquent statements...

Top of the Morning: CEO Macro Briefing Book - Q2 update

07 May 2025

Contributed by Lukas

Paul stops by the studio for a Q2 update on the CEO Macro Briefing Book series - we discuss how uncertainty surrounding the macro environment and cour...

UBS On-Air: Paul Donovan Daily Audio 'Not blinking. Possibly winking'

07 May 2025

Contributed by Lukas

India conducted military strikes against Pakistan, and Pakistan’s defense minister has pledged retaliation. Investors appear to be expecting a relat...

Top of the Morning: Emerging Market equities - Impacts of US trade policy

06 May 2025

Contributed by Lukas

As US trade policy continues to evolve and uncertainty remains in the markets, Xingchen drops by the podcast to provide a performance update and outlo...

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

06 May 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 'It’s a Barbie world'

06 May 2025

Contributed by Lukas

The manufacturer of Barbie dolls has warned that higher prices are coming to US consumers, as a direct consequence of tariffs. Moving production to th...

Top of the Morning: CIO Strategy Snapshot - What if?

05 May 2025

Contributed by Lukas

Jason joins the podcast this week from Zurich as we discuss the drivers behind the recent upside momentum across US equities. Plus, we weigh the upsi...

UBS On-Air: Paul Donovan Daily Audio 'Doing nothing in an uncertain world'

05 May 2025

Contributed by Lukas

Investors await the Federal Reserve’s Wednesday policy decision. There is little expectation of a rate change. Preliminary April employment data sho...

Washington Weekly Podcast: First 100 days, Reconciliation bill, Russia-Ukraine

02 May 2025

Contributed by Lukas

Shane reflects on the first 100 days of the Trump administration, along with updates on where efforts and negotiations stand on Capitol Hill surroundi...

Top of the Morning: April Jobs Report, Q1 GDP, & the week ahead

02 May 2025

Contributed by Lukas

We close out a busy macro week with thoughts from Brian on the latest US employment and GDP data. Plus, a look at what to expect in the week ahead. ...

UBS On-Air: Paul Donovan Daily Audio '“Temu tax” time'

02 May 2025

Contributed by Lukas

The US “Temu tax” takes effect at midnight, whereby US consumers pay their government for the privilege of buying low cost products directly from ...

Top of the Morning: Emerging Markets - Digesting regime change

01 May 2025

Contributed by Lukas

Having just attended the IMF-World Bank meetings in Washington DC, Alejo rejoins the conversation for some boots-on-the ground takeaways around the im...

UBS On-Air: Paul Donovan Daily Audio 'President Trump’s economy'

01 May 2025

Contributed by Lukas

The only certainty economists have about yesterday’s first-quarter GDP data is that it is wrong. Declining survey response rates and economies that ...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 33)

30 Apr 2025

Contributed by Lukas

As the Trump administration marks 100 days in office, Burkhard reflects on how global markets have performed during this span. Plus, we dive into the...

UBS On-Air: Paul Donovan Daily Audio 'Did Amazon increase inflation risks?'

30 Apr 2025

Contributed by Lukas

Online retailer Amazon denied reports it would publish the tariff impact on the price of each item sold on its US website. The general lack of tariff ...

Top of the Morning: Annuity income as part of your retirement strategy

29 Apr 2025

Contributed by Lukas

Justin and Ainsely outline the considerations for adding annuity income as part of one’s retirement strategy, along with explain the current appeal ...

UBS On-Air: Paul Donovan Daily Audio '100 days of uncertainty'

29 Apr 2025

Contributed by Lukas

US President Trump is to mark their 100th day in office with a partial retreat on auto-part trade taxes, and a speech. The speech risks further errati...

Top of the Morning: CIO Strategy Snapshot - An exceptional debate

28 Apr 2025

Contributed by Lukas

Coming off of one of the best weeks for US equities in 2025, Jason considers whether investors are getting ahead of themselves as macro uncertainty re...

UBS On-Air: Paul Donovan Daily Audio 'When does reality bite?'

28 Apr 2025

Contributed by Lukas

Last Friday’s US data showed a notable improvement in late April consumer sentiment, but only for registered Republicans. Consumers today are buying...

House Call: Talking Equity Markets with UBS Asset Management

27 Apr 2025

Contributed by Lukas

Hear views on the US equity markets from Jeremy Zirin, Senior Portfolio Manager of the House View Equity Portfolios, and Head of the Private Client US...

Around the Horn: Fixed Income Roundtable with UBS Asset Management

26 Apr 2025

Contributed by Lukas

Hear from top portfolio managers and business heads from UBS Asset Management’s Muni, Taxable Fixed Income, and Liquidity teams. They share views o...

UBS On-Air: Paul Donovan Daily Audio 'Uncertainty about talking'

25 Apr 2025

Contributed by Lukas

China said it was not negotiating with the US over trade. US President Trump avowed that the US was talking with someone (who they are talking to is a...

UBS On-Air: Paul Donovan Daily Audio 'Make America Uncertain Again'

24 Apr 2025

Contributed by Lukas

The Federal Reserve’s Beige Book has biases. The businesses that provide anecdotal evidence will have an agenda, and the Fed economists who edit the...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 32)

23 Apr 2025

Contributed by Lukas

How much longer will uncertainty last, and where might it all settle? Burkhard weighs in as investors continue to navigate everything from policy piv...

CIO Fixed Income Roundtable Series: 2Q25 performance update

23 Apr 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...

UBS On-Air: Paul Donovan Daily Audio 'The art of the retreat'

23 Apr 2025

Contributed by Lukas

With investor concerns growing, US President Trump demonstrated the art of the retreat. They stated they had “no intention” of firing Federal Rese...

Top of the Morning: Muni Market - Dislocation brings opportunities

22 Apr 2025

Contributed by Lukas

Despite near-term headwinds and elevated volatility, the market dislocation brings opportunities for muni investors. Sudip and Jeannine provide a mun...

UBS On-Air: Paul Donovan Daily Audio 'Real slowdown risks'

22 Apr 2025

Contributed by Lukas

US President Trump again called for lower US interest rates. Markets interpreted this as undermining Federal Reserve independence, and markets do not ...

Top of the Morning: CIO Strategy Snapshot - No news is news

21 Apr 2025

Contributed by Lukas

Following a relatively calm holiday shortened trading week with little to no developments on the tariff front, Jason updates on where tariff negotiati...

UBS On-Air: Paul Donovan Daily Audio 'In Fed we trust?'

21 Apr 2025

Contributed by Lukas

US National Economic Council Director Hassett said US President Trump was investigating whether they could fire Federal Reserve Chair Powell. Investor...

Across the Pond: What comes next for global trade?

17 Apr 2025

Contributed by Lukas

In the short period following early April’s “Liberation Day” announcement of tariffs by the White House, questions remain amongst global investo...

UBS On-Air: Paul Donovan Daily Audio 'Self-inflicted slowdowns and the Fed'

17 Apr 2025

Contributed by Lukas

Federal Reserve Chair Powell noted US President Trump’s trade taxes would raise inflation and lower economic growth. Markets have already worked thi...

The State of Financial Stability with Steven Kelly (Yale) & Leslie Falconio (UBS CIO)

16 Apr 2025

Contributed by Lukas

Hear a discussion on the stability of the US financial system, featuring Steven Kelly, Associate Director of Research at Yale School of Management, Le...

UBS AI Podcast - CEO Series - Ep. 1 (Arvind Jain, CEO of Glean)

16 Apr 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...

UBS On-Air: Paul Donovan Daily Audio 'Inflating trade’s importance'

16 Apr 2025

Contributed by Lukas

China halted the import of Boeing planes; US President Trump asked China to call him, and then imposed permanent restrictions on NVIDIA chip sales to ...

Fixed Income Conversation Corner with Ed Al-Hussainy (Columbia Threadneedle) and Leslie Falconio (UBS CIO)

15 Apr 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 'Let’s try some more!'

15 Apr 2025

Contributed by Lukas

US President Trump appears “very happy” with the economic consequences of trade taxes to date, and is therefore proposing to add to US consumers’...

Top of the Morning: CIO Strategy Snapshot - What Exactly is Trumponomics?

14 Apr 2025

Contributed by Lukas

As investor uncertainty persists over the direction of US trade policy, Jason applies some definition to “Trumponomics”, along with explains the e...

UBS On-Air: Paul Donovan Daily Audio 'Policy competence questions'

14 Apr 2025

Contributed by Lukas

US President Trump retreated from more trade taxes on Friday, exempting iPhones and some other electronics from much of the 145% tax on imports from C...

UBS On-Air: Paul Donovan Daily Audio 'Not entirely usual'

11 Apr 2025

Contributed by Lukas

US President Trump’s administration clarified the 125% tax on imports from China was 145%. This increase will not shift demand patterns (it will cos...

Top of the Morning: Why we're not worried - and you shouldn't be either

10 Apr 2025

Contributed by Lukas

It’s natural to feel anxious during market drawdowns, which is why having a plan to weather market storms (and take advantage of market volatility) ...

Washington Weekly Podcast: Tariff developments, Budget resolution & more

10 Apr 2025

Contributed by Lukas

As US trade policy continues to evolve quickly, Shane drops by to update us on the latest, and what the near-term may consist of with respect to negot...

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 31)

10 Apr 2025

Contributed by Lukas

On this week’s episode of Viewpoints, Burkhard weighs in on the recent tariff-related volatility in the markets and shares guidance on how investors...

UBS On-Air: Paul Donovan Daily Audio 'Retreat, repeat, retreat, repeat'

10 Apr 2025

Contributed by Lukas

US President Trump’s retreat from trade taxes took less than 24 hours. However, taxes on imports from China increased, and the universal 10% import ...

Top of the Morning: Emerging Markets - Monumental change

09 Apr 2025

Contributed by Lukas

We examine how regions, such as emerging Asia and Latin America, are feeling the impacts US tariff policy. Plus, thoughts on how EM investors should ...

UBS On-Air: Paul Donovan Daily Audio 'Tea parties become more expensive'

09 Apr 2025

Contributed by Lukas

US President Trump implemented an extraordinary tax increase on US consumers overnight. If the 104% tax increase on goods from China is not reversed, ...

Top of the Morning: What role can private assets play in a portfolio?

08 Apr 2025

Contributed by Lukas

A roundtable discussion around the kind of that role can private assets play in a longer-term investment plan, including a performance update and outl...

UBS On-Air: Paul Donovan Daily Audio 'Fake news'

08 Apr 2025

Contributed by Lukas

Financial markets swung wildly yesterday on apparently false reports of a 90-day halt to US trade taxes (except for China). The volatility highlights ...

Top of the Morning: CIO Strategy Snapshot - Navigating the uncertainty

07 Apr 2025

Contributed by Lukas

As market volatility persists following a historical week for the global economy and financial markets, Jason shares his thoughts on last week’s tar...

Top of the Morning: How are Asian economies impacted by tariffs?

07 Apr 2025

Contributed by Lukas

Following last week’s tariff announcements from the White House, we discuss the overall impact of these developments to economies across Asia, along...

UBS On-Air: Paul Donovan Daily Audio 'Competence matters'

07 Apr 2025

Contributed by Lukas

Asian equity markets crashed, with Hong Kong markets down over 10%. Over the weekend, US administration officials gave contradictory statements on tra...

Top of the Morning: March jobs report, US trade policy, & the week ahead

04 Apr 2025

Contributed by Lukas

As we close out a volatile week in the markets, Brian shares his thoughts on the March employment report, and the overall health of the US labor marke...

UBS On-Air: Paul Donovan Daily Audio '….not well'

04 Apr 2025

Contributed by Lukas

Financial markets expected a significant tax increase from US President Trump. Yesterday’s reaction shows the tax increase was worse than anticipate...

Washington Weekly Podcast: The latest on tariffs, Special election takeaways

03 Apr 2025

Contributed by Lukas

In the wake of the latest tariff news out of the White House, Shane reflects on the impacts to US trading relationships around the globe, along with h...

Top of the Morning: ‘POTUS 47 Series: Latest on tariffs, the economic and market impact’

03 Apr 2025

Contributed by Lukas

An inventory of Wednesday’s tariff announcement by the Trump administration, along with an assessment of potential economic impacts, and reflections...

UBS On-Air: Paul Donovan Daily Audio 'Well….'

03 Apr 2025

Contributed by Lukas

US President Trump unveiled a massive tax increase for US companies and consumers. Tariffs were set at (0.5 x bilateral trade deficit / US imports). T...

UBS On-Air: Paul Donovan Daily Audio 'Economists’ ignorance is the problem'

02 Apr 2025

Contributed by Lukas

Economists know what they don’t know. US President Trump is expected to announce the largest peacetime tax increase in US history. The erratic natur...

UBS On-Air: Paul Donovan Daily Audio 'United fronts'

01 Apr 2025

Contributed by Lukas

A social media post from a semi-official China account suggested that China, Japan, and South Korea would present a united front against US trade taxe...

Top of the Morning: CIO Strategy Snapshot - From uncertainty to Risk

31 Mar 2025

Contributed by Lukas

Jason previews what will be a busy few days ahead for the markets, including an impending announcement of reciprocal tariffs by the Trump administrati...

UBS On-Air: Paul Donovan Daily Audio 'End the Fed'

31 Mar 2025

Contributed by Lukas

Overnight US President Trump’s influential donor Musk reiterated a desire to “end the Fed.” Abolishing the Federal Reserve is part of the report...

Market outlook: Is the glass still half full? with Henry McVey (KKR) & Solita Marcelli (UBS CIO)

29 Mar 2025

Contributed by Lukas

Hear from Henry McVey, Head of Global Macro, Balance Sheet & Risk and CIO of KKR’s Balance Sheet, and Solita Marcelli, CIO Americas for UBS Glob...

Washington Weekly Podcast: Latest on tariffs, Signal, Geopolitics roundup

28 Mar 2025

Contributed by Lukas

Shane recaps this week’s developments surrounding auto tariffs and previews potential additional tariff-related announcements set for next week. We...

UBS On-Air: Paul Donovan Daily Audio 'State controlled prices'

28 Mar 2025

Contributed by Lukas

In 1971, US President Nixon imposed a trade tax on imports into the US, and froze US wages and prices. This was not a success. Faced with rising costs...

Across the Pond: Trump’s tariff Tsunami?

27 Mar 2025

Contributed by Lukas

President Trump is gearing up to impose a new slew of tariffs on trade partners on April 2, a day he has dubbed “Liberation Day” to signify that A...

UBS On-Air: Paul Donovan Daily Audio 'Tax facts'

27 Mar 2025

Contributed by Lukas

US President Trump announced an aggressive tax increase for US consumers, with a 25% tariff on imported cars. Officials later clarified it also covers...

How should I be positioned? with Joe Davis (Vanguard) and Jason Draho (UBS CIO)

26 Mar 2025

Contributed by Lukas

Joe and Jason exchange views and thoughts on a wide range of topics, including the health of the US economy, the implications of US trade policy, the ...

UBS On-Air: Paul Donovan Daily Audio 'Who believes the numbers?'

26 Mar 2025

Contributed by Lukas

UK February consumer price data was slightly below expectations—before the weirdness of the UK government’s capped energy pricing adds to inflatio...

Talking Markets Podcast with Brian Levitt of Invesco

25 Mar 2025

Contributed by Lukas

Brian Levitt serves as a Global Market Strategist at Invesco. Brian shares his take on a wide range of topics that have recently influenced investor ...

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

25 Mar 2025

Contributed by Lukas

Reports that the US vice president and cabinet members discussed war plans on a public chat channel with a journalist in attendance do not directly im...

Top of the Morning: CIO Strategy Snapshot - Is the correction over?

24 Mar 2025

Contributed by Lukas

As markets showed signs of stabilizing last week, investors weigh whether the correction is behind us or has temporarily paused. Jason shares his tho...

UBS On-Air: Paul Donovan Daily Audio 'Fiscal inefficiency'

24 Mar 2025

Contributed by Lukas

Media reports suggest that the rather haphazard attempts to restructure the US government could cost half a trillion dollars in lost tax revenues this...