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Israel’s ‘pre-emptive’ strikes against Iran on 13 June represent a meaningful escalation in what had been Israel’s ongoing battle against primarily Iranian proxies. The conflict has now shifted towards a direct confrontation between the two regional powers in the Middle East.

Peter Kinsella, UBP’s Global Head of FX and Commodity Strategy, discussed the outlook for the USD with Andreas Koenig, Amundi’s Head of Currency Management.

Markets rallied on US–China trade deal progress and soft US inflation data, boosting risk assets and expectations of a Fed rate cut. Yields fell while credit spreads tightened. However, at the end of the week gains faded as Israel–Iran tensions flared up, but this lifted defence stocks. The US dollar weakened, while gold and oil rose on geopolitical tensions.

As we enter the second half of the year, the fading trade war rhetoric is paving the way for a renewed focus on diversified asset allocations.

The potential of US equities is being tested by the compression of the risk premium.

For the younger generation, private banking is no longer necessarily as attractive a business sector as it was for their predecessors. Nonetheless, these institutions’ recruitment needs remain high, and attracting young talent is becoming an increasingly important issue for them. So how can private banks attract and retain the next generation?

Equity markets welcomed Trump’s 90-day tariff truce by rebounding swiftly. However, we are maintaining a wait-and-see stance during this pause, while hedging against potential US dollar weakness by increasing our exposure to gold.

More than six months into her role as region head for North Asia at UBP, Teresa Lee is wasting no time making her mark across the markets of Mainland China, Hong Kong, Taiwan – and even the Philippines.

Union Bancaire Privée, UBP SA (UBP) gibt den erfolgreichen Abschluss der Übernahme der Société-Générale-Tochter SG Kleinwort Hambros bekannt, die einen wichtigen Meilenstein im Rahmen der internationalen Wachstumsstrategie der Bank markiert.

UBP Monaco, as do many private banks, remains very cautious over the use of AI. CEO Sérène El Masri explains why.

With Denmark-controlled Greenland attracting increasing geopolitical interest as a naval and resource-rich hotspot, our Chief Strategist looks into the factors at play for this independence-minded Arctic territory.