Top of the Morning – UBS Wealth Management Research

Emerging markets continue to remain under pressure and in focus for investors. Today we will cover what has been behind the performance, an outlook for the asset class and what factors may improve investor sentiment. Featured is Emerging Markets Strategist for the UBS Chief Investment Office, Alejo Czerwonko. 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 autumn approaches, you can look forward to the leaves changing their color, pumpkin spice lattes at your local coffee shop, the familiar chill in the air and one of the most anticipated mid-term elections in modern times. With so much on the line for both parties, how will this play out as we head to the polls in November. We'll find out today when I speak with Justin Waring, Investment Strategist Americas, UBS Chief Investment Office, about the election and the new UBS Election Watch report. For more information, and to access the interactive tool, visit www.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.

How could the U.S. midterm election affect policymaking, the economy and markets? Mike Ryan, Chief Investment Officer Americas for UBS Global Wealth Management, and John Savercool, Head of the UBS US Office of Public Policy, provide insights on the potential implications for policymaking and portfolios. 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 head into the last days of summer, there is no stopping the markets. The Fed is in the spotlight this week and their thoughts on monetary policy and the overall health of the US economy, positive earnings results from a number of companies in the retail sectors, trade talks and economic data. Tune in as we sit down with Jason Draho, Head of Asset Allocation Americas for the UBS Chief Investment Office, for this 'Week in Review and Preview'. NOTE: 'Top of the Morning' will take a short hiatus. We'll be back with all new content on Tue Sep 4. 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 U.S. Federal Reserve is in focus this week, particularly with the recent release of the Minutes of the Federal Open Market Committee meeting on July 31-Aug 1. What did we learn about the Fed's thoughts on the health of the U.S. economy? Were there any items in the Minutes that have changed since the prior meeting? Plus, we'll discuss economic data and the latest developments in trade with Senior U.S. Economist 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 global markets and how a globally diversified investment approach provides better risk-adjusted returns with fewer unpleasant surprises. Featured is Justin Waring, CIO-A Investment Strategist. 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.

LIBOR. An often used acronym that you may not be aware of. What is it? Why might LIBOR's reign be ending? What will replace it? Why should you care? Today, we'll discuss LIBOR and how it could impact your investment portfolio with Leslie Falconio, Senior Fixed Income Strategist from the UBS Chief Investment 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.

Today we turn our focus to the municipal bond market as we examine what is driving recent performance of the asset class. Plus, we will spotlight 'taxable munis', discuss portfolio themes to consider, an outlook for the muni market and more with Kathleen McNamara, Senior Municipal Bond Strategist from the UBS Chief Investment 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.

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 developments surrounding Turkey's currency crisis and U.S./China trade relations. Featured is Leslie Falconio, Senior Fixed Income Strategist is from the UBS Chief Investment 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.

We turn our focus to telecom as we examine recent developments and trends within the U.S. telecom sector – including an update on 5G. We also cover sector performance and where opportunities exist at this time. Featured is Kevin Dennean, IT and Telecom Equity Sector Strategist from the UBS Chief Investment 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.

Today we turn our focus back to thematic investing as we will discuss recent updates made to two of the Chief Investment Office's investment themes. We will also cover how these themes have been performing, associated risks and more. Featured is Laura Kane, Head of Investment Themes Americas from the UBS Chief Investment 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.

Today we turn our focus to Turkey as we examine what has fueled the nation's currency crisis. We will also cover next-steps, market implications, investment opportunities and more. Featured is Jorge Mariscal, Chief Investment Officer for Emerging Markets from the UBS Chief Investment 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.

Today we turn our focus to energy, as we will examine how both legislation and logistics have contributed to recent performance in certain areas of the broader sector. Featured is Nicki Decker, CIO-A Energy Equity Sector Strategist and Jay Dobson, CIO-A MLP & Utilities Sector Strategist from the UBS Chief Investment 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.

It's Friday morning and that mean it's time for the week in review and preview. My guest recaps the week's key events, including reflections on the recent corporate earnings season and an update on trade. Plus, thoughts on what you can expect in the week ahead. Featured is Ed Tran, Equity Strategist, UBS Chief Investment 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.

Today we turn our focus back to fixed income – specifically munis – as we will examine the Chief Investment Offices' new municipal risk assessment framework. Featured is Sudip Mukherjee, Senior Municipal Strategist from UBS Chief Investment 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.