UBS On-Air

Today we examine some lessons and takeaways from the unique 2020 bear market, as well as how investors should think about their liquidity strategy and portfolio allocation during the recovery. Featured is Justin Waring, Investment Strategist Americas, from the UBS Chief Investment Office. Host: Daniel Cassidy

Foreign exchange dealers are simple people. They like nice round numbers. The weakening of the dollar through 1.20 against the euro has caused a level of agitation disproportionate to its economic significance. We are not in the 1970s anymore. Pricing strategies of global companies make currency moves more important to exporters' profitability, but less important to the real economy.

Ann Rybak, Head of Family Office Solutions Group, interviews Peter Hill (Head of Public Finance), Angelia Schmidt (Underwriting Syndicate, Public Finance), and Kristin Stephens (Credit Strategies, Public Finance). Together, they share insights on the current state of the municipal bond market across the US, with a focus on issuance, funding shortfalls, revenues and how the municipal bond market has been affected by the COVID 19 pandemic.

Today we check-in on how the 5G story has been evolving, how the roll-out might progress from here, some potential headwinds to be mindful of and more. Featured are Kevin Dennean, Technology and Communications Services Analyst Americas, as well as Reid Gilligan, Equity Associate Analyst Americas, from the UBS Chief Investment Office. Host: Daniel Cassidy

The German government will revise economic forecasts today. The precise numbers will be precisely wrong, because there is no precision in economic data at the moment. The trend is expected to be more optimism about the economic outlook. This is likely to be repeated in other countries. Governments?and investors?underestimated how fast and how effectively people would adapt to the crisis. Economic activity will be bad this year, but not as bad as first feared.

As the summer is quickly drawing to a close, today we take a pulse on what has been driving market activity as of late, what the balance of the year might have in store and how this think about positioning your portfolio. Featured is Jason Draho, Head of Asset Allocation Americas, from the UBS Chief Investment Office. Host: Daniel Cassidy

Reflections on the course of monetary policy and what it all means for fixed income markets and investors. Featured is Leslie Falconio, Senior Fixed Income Strategist Americas, UBS Chief Investment Office. Host: Griffin Marie

Today we turn our focus to sustainable investing and discuss the implications of election outcome scenarios to sustainability-linked investment themes. Featured is Michelle Laliberte, Thematic Investment Associate Americas, from the UBS Chief Investment Office. Host: Daniel Cassidy

The Jackson Hole summer camp for economists and central bankers starts. This year it is virtual - no roasting s'mores over an open fire, which reduces the fun. US Fed Chair Powell speaks today, offering insight into the medium-term plan. However, events have reduced the fun here too. We know rates will stay low for a long time. We know any medium-term plan will have to change. Powell is unlikely to be able to change market expectations.

Today we are going to discuss some alternatives for investors to consider who happen to hold a sizeable portion of cash in their portfolios, along with the risks associated with maintaining a sizeable cash position and more. Featured is Leslie Falconio, Senior Fixed Income Strategist Americas, and Justin Waring, Investment Strategist Americas from the UBS Chief Investment Office. Host: Daniel Cassidy

We have speakers from the ECB and the Federal Reserve; Bank of England Chief Economist Haldane is also speaking (the views of chief economists should always be treated with reverence). Markets are not likely to care, however. The idea of low rates for a long time is so deeply embedded into market expectations it would take dynamite to shift that perception.

Mark Haefele, global Chief Investment Officer, hosted CIO speakers from around the world on August 25 to talk about why global central bank support remains the most important driver for risk assets. Listen to the audio recording of the webcast.

Ann Rybak (Head of the Family Office Solutions Group) and Jerry Pascucci (Head, UBS Alternative Investments) discuss where they are seeing opportunities across the alternative investments landscape.

Mark Haefele, Chief Investment Officer at UBS GWM, was joined by Karen Ward, Chief Market Strategist EMEA at J.P. Morgan Asset Management, to discuss where investor can look for opportunities to improve their yield, the impact of the US elections on financial markets and investment opportunities in the long-run.

The US and China held talks on the phase one trade deal, which seem to have been positive. Markets have little expectation for a phase two trade deal, so this is a relief. The pattern seems to be of support for the trade deal, with more tensions over technology and the pandemic. Markets were expecting more hostile language ahead of the US election, so this is expected.