UBS House View - Daily US Rate cuts further erode the appeal of cash
The Federal Reserve's quarter-point rate cut this week was another setback for cash savers. It took the real US interest rate 更多 (after inflation) to just 0.25%.
金融教育
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Economy Fed cuts rates amid lack of consensus
Today the Fed cut interest rates by 25 basis points (bps), in line with market expectations, and the FOMC statement was little changed. Equity markets fell and the dollar strengthened modestly after the announcement. 更多
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Longer term investments Older, wiser…healthier, wealthier?
Demographic trends – such as an aging population – create a variety of longer term investment opportunities. CIO recently highlighted two such themes: HealthTech, which focuses on how developments in data analysis and connectivity can drive greater efficiency in healthcare; and retirement planning. 更多
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Markets Art Cashin - On the markets (09/18)
Art Cashin, the Director of Floor Operations at the NYSE for UBS, discusses the latest news and events impacting the markets. This week, Art provides the latest on Saudi Arabia and oil markets, thoughts on the Fed policy and their repo actions and the week ahead. 更多
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Planning How much cash is too much?
It's understandable that investors view cash as a valuable tool for protecting against worst-case scenarios. After all, bear markets only cause harm to investors who are forced to sell out of their invested assets in order to pay their bills, locking in losses. But while a store of cash can be valuable, it also results in a drag on returns that, in the long run, could cause even more damage than the risk of being forced to sell at bear-market prices. There's no one-size-fits-all answer to this quandary. 更多
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Exchange-traded funds Risk-reward spectrum for playing oil through ETFs
For investors reviewing ETFs to gain exposure to oil prices, selecting the appropriate ETF depends on both the level of conviction and investment horizon. 更多
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UBS House View - Daily US All eyes on the Fed
For the first time in a decade the Federal Reserve intervened in the US interbank market to remedy a drying up of overnight liquidity. This prompted speculation that Fed officials could announce a permanent facility to avoid such problems in the future. 更多
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UBS House View Briefcase Can tech stocks weather the trade conflict?
Technology stocks have been the best-performing US sector in 2019, propelling relative valuations to a post-financial-crisis high. 更多
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Private markets How have private markets behaved in downturns?
While private market returns can be cyclical, timing allocations may lead to suboptimal results. Consistent allocation across vintage years is a powerful way to avoid market timing risks and mitigate the impact of different economic regimes. 更多
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UBS House View - Daily US Investors could benefit from FX opportunities
Currency trading volumes have climbed to a record high of USD 6.6trn a day, according to a triennial survey by the Bank for International Settlements. 更多
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Bonds Playing the long game?
In a recent interview on CNBC, Treasury Secretary Steven Mnuchin said that the federal government may consider adding 50- or even 100-year bonds as possible additions to its funding mix. Since the Treasury Secretary has now publicly raised the prospects of longer-term issuance – and the Treasury Department just announced a USD 1 trillion budget deficit for the first eleven months of the fiscal year – it's worth taking this proposal seriously. 更多
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Politics Biden their time
The third televised debate among the Democratic candidates for president was held in Houston Thursday night, and it didn’t take long for fireworks to erupt. Prompted by the moderators, the candidates staked out opposing positions on the subject of health care. 更多
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Retirement Healthcare options for early Retirees
Whether you're retiring at age 42 or age 62, leaving the workforce at any point prior to your 65th birthday could be considered "early" in terms of your healthcare options. If you're considering early retirement, it's important to determine how you'll bridge the coverage gap from when your employer's health plan ends until Medicare eligibility kicks in at age 65. 更多
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UBS House View - Daily US Saudi oil facilities attacked
Aerial attacks over the weekend on two of Saudi Arabia's key oil facilities have temporarily halted about 5.7 million barrels per day (bpd) of oil supply, according to state oil producer Saudi Aramco. That amount accounts for roughly half of Saudi’s output capacity and more than 5% of global supply. 更多
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Industrials It's still tough out there
A large rotation in the market away from momentum has recently caused a sell-off in the more defensive stocks in favor of cyclical names. This has been very pronounced in the industrial and materials sectors; namely in the cyclical areas of machinery, chemicals, and metals and mining that have seen a significant rebound in stock prices off depressed levels. 更多
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UBS House View - Daily US ECB easing unlikely to be sufficient
On Thursday, to counteract slowing economic growth and stubbornly low inflation, the European Central Bank cut the deposit rate by 10 basis points to –0.5%, and announced a second quantitative easing (QE2) program. 更多
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Washington Weekly The Agenda for Late 2019
The House and Senate returned to Washington this week from a 45-day summer recess to address a wide range of pending policy issues. Looming in the background, of course, is the 2020 presidential election, which is already having a major impact on the congressional agenda. We summarize the issues we believe will be the main stories out of Washington from now through the end of the year. 更多
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Technology 5G refresh - A lot has changed in 2 years
5G networks are expected to deliver substantial scale, flexible control, and extremely low costs. Its expected scale and flexibility in particular is in contrast to prior wireless network generations that were generally purpose-built for a narrow range of applications. Rather than just another "G," 5G should be viewed as a platform that can support multiple applications and services. When fully implemented, it is expected to enable new use cases including enhanced mobile broadband, fixed wireless access, Massive Internet of Things (IoT), and ultra-reliable low latency communications. 更多
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Currency Euro hardly affected by mixed bag of easing
The European Central Bank is not forecasting a recession, but it is seeing weak inflation data. Based on this, it decided to introduce a mixed bag of easing measures, some negative for the euro, some positive. Markets needed some time to balance the pros and cons, but an hour after the ECB meeting the decision seemed clear. The easing is not enough to drive EURUSD below 1.10 for now. 更多
