UBS On-Air

Today we explore the factors at play behind the Q2 reporting season results, and estimates for quarters to come. Featured is David Lefkowitz, Head of Equities Americas, UBS Chief Investment Office. Host: Daniel Cassidy

The pandemic is a fiscal policy problem rather than a central bank policy problem. Lockdowns meant government policy took away peoples' incomes. Fiscal policy needed to replace those incomes. The Federal Reserve's Senior Loan Officers' survey emphasized the limits on what central bank policy can do ? credit conditions tightened, signalling that banks are cautious about transmitting policy to the economy.

How has social entrepreneurship in Latin America catalyzed change? In this episode, Nicole and Kai discuss the importance of social entrepreneurship in Latin America, UBS' involvement in this sector, and key initiatives undertaken by social entrepreneurs across the region. ** Podcast audio is in Spanish **

What is the state of philanthropy in Latin America and what?s next? In this episode, Nicole and Kai have a conversation about the current state of philanthropy in Latin America, the main motivations donors have, the challenges philanthropists face, and perspectives for the future. ** Podcast audio is in Spanish **

What are the key traits of successful philanthropists? In this episode, Nicole Sebastian and Kai Grunauer-Brachetti exchange their thoughts on approaching philanthropy as a business, learning from failure, effective collaboration, and how sustainable investing can enhance and accelerate philanthropic goals. ** Podcast audio is in Spanish **

What are the main ingredients of successful family philanthropy? In this episode, Nicole Sebastian, a Senior Strategist in the Family Office Solutions Group, and Kai Grunauer-Brachetti, a Senior Strategist in Family Advisory and Philanthropy Services, discuss best practices on family philanthropy topics, such as establishing roles and responsibilities for the rising generation, the role of boards, and how to collaborate effectively within the family. ** Podcast audio is in Spanish **

Members of the US Congress resume talks on the fiscal package. Additional unemployment benefits in the US ended last week. This: 1) hurts those who are unemployed; 2) increases the fear of the consequences of unemployment for those with jobs; and 3) may impact attitudes to welfare payments in the long term.

US President Trump mused on Twitter about delaying the November elections. Markets have not reacted?the decision belongs to Congress. More extreme scenarios around a disputed election are unlikely to be priced into markets?investors rarely price extreme tail risks (e.g., North Korean scenarios).

Each week we like to touch base with the UBS US Office of Public Policy to discuss the latest on developments within the beltway and beyond. On today's edition, we cover where we stand with respect to additional COVID-19 fiscal stimulus measures, the state of the Presidential conventions, potential running mates and more. Featured is Shane Lieberman from the UBS U.S. Office of Public Policy. Host: Daniel Cassidy

Today we turn our focus back to the housing and mortgage market to see how the space is faring against what is a challenging economic backdrop, with many unknowns ahead. Featured are Leslie Falconio, Senior Fixed Income Strategist Americas, and Jon Woloshin, Real Estate and Lodging Analyst Americas from the UBS Chief Investment Office. Host: Daniel Cassidy

Fed Chair Powell said nothing markets did not already know, but nothing was said with a moderate amount of eloquence. Powell suggested that the path of the economy depended on the path of the virus, which is obviously incorrect. The path of the economy depends on the path of fear of the virus.

A conversation on what wealthy investors need to know when it comes to estate planning. Features Ainsley Carbone, Total Wealth Strategist Americas and Justin Waring, Investment Strategist Americas, from the UBS Chief Investment Office, as well as Brad Dillon, Senior Wealth Strategist.

Today we turn our focus back to the emerging markets and examine some key developments that have taken place in recent time, the investment implications of them and more. Featured is Alejo Czerwonko, Chief Investment Officer for Emerging Markets Americas, from the UBS Chief Investment Office. Host: Daniel Cassidy

The US Federal Reserve concludes its two-day meeting. For the economy, there is a limit to what the Fed can do. The Fed's control of the price of money has some impact on incomes of significant savers and significant borrowers, but it does not directly impact the incomes of most people. The current situation is all about consumer incomes, which is why fiscal policy is so much more important.

US Republicans unveiled fiscal stimulus proposals, which cut unemployment benefits and send out another USD 1,200 to most American adults. Most of Europe does not need to do a separate stimulus program for benefits as these are already part of their welfare systems. Talks with Congressional Democrats are ongoing.