Video features

Watch the replay of the House View livestream, hosted by Nadia Lovell, Head of Global Equity Strategy & Management, featuring David Lefkowitz, CIO Head of US Equities, and Kurt Reiman, Head of Fixed Income. Markets have entered the fourth quarter near record highs, powered by strong corporate earnings, resilient consumer spending, and advances in artificial intelligence. While renewed US-China trade tensions have reminded investors that volatility can re-emerge, we believe a full-scale trade war remains unlikely.

Our experts discussed why we’ve upgraded US equities to Attractive, supported by robust AI momentum, a more accommodative policy backdrop, and a strong US growth outlook. They shared our latest S&P 500 earnings forecasts, highlighted sector preferences—including financials, technology, and health care—and examined fixed income opportunities as the Fed pivots and yield curves shift. Plus, they introduced our new report, “From sea to shining sea: The transcontinental railroad,” launching a series in honor of America’s 250th birthday and celebrating the nation’s spirit of enterprise.

The Fed’s decision to lower rates by 25 basis points at its September meeting was driven by signs of labor market weakness and subdued inflation pressures. Historically, rate cuts outside of recessions have supported equity market performance. However, we remain vigilant regarding potential economic uncertainties and inflation risks.

We discussed the economic outlook, the impact of the recent Federal Reserve rate cut, and practical strategies for deploying cash in today’s market. The session featured Leslie Falconio, Head of Taxable Fixed Income Strategy, CIO Americas, and Jason Draho, Head of Asset Allocation, CIO Americas, with host Anthony Pastore, Head of Broadcast Communications, CIO Americas.

Note: This interview contains views which originate from outside Chief Investment Office Global Wealth Management (CIO GWM). It is therefore possible that the interview does not reflect the views of CIO GWM.

Ulrike Hoffmann-Burchardi, CIO Americas and Global Head of Equities, and Leslie Falconio, Head of Taxable Fixed Income Strategy CIO Americas, discussed CIO’s current market outlook, the Federal Reserve’s expected interest rate cuts, and how investors can best position themselves for the remainder of 2025.

Leslie Falconio, Head of Taxable Fixed Income Strategy, CIO Americas, Kevin Dennean, Equity Strategist, US Technology & Telecom, CIO Americas and Matthew Tormey, US Equity Strategist, CIO Americas, shared insights on the latest tariff developments, market views, and implications for investors.

A special edition fireside chat with Joe Tsai, Chairman of Alibaba, a global leader in e-commerce and artificial intelligence. Following introductory remarks from Mike Ebert, Head IB Americas at UBS, Ulrike Hoffmann-Burchardi, Global Head CIO Equity at UBS, moderates a conversation, delving into topics like the future of AI and the dynamics of the China Tech market.

Explore more artificial intelligence content from CIO at ubs.com/ai-hub