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Quarterly Reporting  
Q3 2004 Q2 2004 Q1 2004 Q4 2003 Q3 2003
     
 

Outlook
Outlook

Toward the end of third quarter, investors in the US expressed increasing optimism about equity market developments, despite persistent concerns about inflation and future economic prospects. Given the recent improvement in market conditions, we are cautiously optimistic about the future. But, in view of the remaining uncertainty about market developments, our costs and staffing levels will continue to be tightly monitored and controlled.

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UBS
Nov. 23, 2009 00:30:04