Top of the Morning – UBS Wealth Management Research

Today we turn our focus back to the UBS House View as we examine the rationale behind a change made to the tactical asset allocation. We will discuss what has been driving recent market activity, a market outlook and much more. Featured is Head of Asset Allocation Americas for the UBS Chief Investment Office, Jason Draho. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC

Last night was election night in the US - the highly anticipated midterms. Now that we know the results, what does it all mean for the direction of policy, the markets and beyond? Breaking it all down for us are John Savercool, Head of the UBS US Office of Public Policy and Mike Ryan, Chief Investment Officer Americas. For more information, visit ubs.com/electionwatch. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

The American people have spoken and the results are in! Today we dig into the outcome of Decisions 2018, discuss the market response, as well as implications of the outcome to both investments and policy. Featured is Head of Asset Allocation Americas for the UBS Chief Investment Office, Jason Draho. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC

As we approach the midterm election, we take a look at the latest UBS Investor Watch Pulse Survey. The focus is on the midterms and thoughts on the direction of the government, economic outlook, market volatility and more. We surveyed 501 High Net Worth investors and 216 business owners, and the results may surprise you. Tune is as we speak with Sameer Aurora from the UBS Client Strategy Office. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

Shane Lieberman, from the UBS US Office of Public Policy, joins the podcast to offer his final thoughts and outcome expectations for the 2018 US mid-term elections. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC

Today we turn our focus to fixed income as we will examine the catalysts behind recent market turbulence and how the asset class has fared. We will also cover the implication of the US midterms to performance, where rates are headed, opportunities within fixed income and more. Featured is Senior Fixed Income Strategist Americas for the UBS Chief Investment Office, Leslie Falconio. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

In November, voters in the United States will head to the polls to determine the make-up of Congress for the next two years. Mid-term elections almost always go against the party in power, and we could see the Democrats take control of one or both chambers of Congress. We believe a historically average congressional shift is most likely, and in this situation the Democrats will gain control of the House but fall short of a majority in the Senate. But the outcome is still highly uncertain, so it's important to evaluate the potential outcomes and assess how each outcome could affect the political and policy environment — and how it could impact markets. Featured is Head of Asset Allocation Americas for the Chief Investment Office, Jason Draho. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

It's Friday morning and that means it's time for the week in review and preview. We will recap this week's key events, including thoughts on the October employment report. Plus, expectations for the US mid-term elections and what you can expect in the week ahead. Featured is Senior Economist Americas for the UBS Chief Investment Office, Brian Rose. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

Today we turn our focus to the emerging markets as we examine how recent performance has affected their growth. My guest and I will highlight opportunities within the space, provide a performance outlook, and spotlight the investment implications of this dynamic environment. Featured is Senior Emerging Markets Strategist for the UBS Chief Investment Office, Jorge Mariscal. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

Today we turn our focus to the municipal market as we examine how rising yields have impacted muni performance. We also highlight opportunities within the asset class, provide a performance outlook and spotlight the upcoming US midterm elections. Featured is Senior Municipal Strategist Americas for the UBS Chief Investment Office, Kathleen McNamara. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

As technology evolves, more questions arise. What does Artificial Intelligence mean? Will robots affect my daily life and how will they do so? Where are some of the best opportunities in tech today? Where does sci-fi meet reality? We break this all down when Kevin Dennean, Sector Strategist Information Technology & Communication Services for the Chief Investment Office Americas, sits down for an open discussion with Anthony Pastore, Head of UBS On-Air. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

Special UBS Client Call on Market Volatility with Mike Ryan, Chief Investment Officer Americas, David Lefkowitz, Senior Equity Strategist Americas, Kevin Dennean, Information Technology and Communications Services Equity Sector Strategist Americas and Nicki Decker, Energy Equity Strategist Americas, UBS Chief Investment Office. A conversation on the catalysts behind recent market volatility and portfolio positioning. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

It's Friday morning and that means it time for the week in review and preview. We will examine what is behind this week's volatility, where we are in the economic cycle, and the Chief Investment Office's market outlook. Plus, a look at asset allocations recommendations and what you expect in the week ahead. Featured is Head of Asset Allocation Americas for the UBS Chief Investment Office Jason Draho. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

After years of outperformance and an especially strong 2017, the technology sector has suddenly started underperforming. It's down about 10% over the past month, and the whole market has been soft. Why has this been happening and what does the sector look like in the short term? We speak with Kevin Dennean. Sector Strategist for Information Technology and Communication Services. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.

It was another booming year for the world’s wealthiest. After roaring back to growth in 2016, billionaire wealth enjoyed its greatest-ever increase last year, rising 19% to an unprecedented $8.9 trillion. Leading the way was China, where billionaire wealth grew at double the global pace, increasing to $1.12 trillion, according to our fifth Billionaires Report: New visionaries and the Chinese Century. “The growth in wealth is most visible in China,” said UBS Judy Spalthoff, Head of Family and Philanthropy Advisory. Nearly one in “every five billionaires in the world is in China.” Listen in for the full story. As a firm providing wealth management services to clients, UBS Financial Services Inc. offers both investment advisory services and brokerage services. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. It is important that clients understand the ways in which we conduct business and that they carefully read the agreements and disclosures that we provide to them about the products or services we offer. For more information visit our website at ubs.com/workingwithus. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC.