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  • 06.02.2025

    UBP House View - February 2025

    On his return to the Oval Office, Donald Trump swiftly sparked uncertainty with a trade offensive against Mexico, Canada and China. We expect the return of protectionist policies to fuel market volatility in the months ahead. In this environment, hedge funds and precious metals stand out as resilient investment choices.

  • 17.01.2025

    UBP House View - January 2025

    Trump's agenda of higher tariffs, tax cuts, and stricter immigration measures could, if actually implemented, spur inflationary pressures, thus curbing the momentum for interest rate cuts. This ‘higher-for-longer’ interest rate environment favours hedge funds over fixed income investments – an asset class we have downgraded from 3/5 to 2/5.

  • 13.11.2024

    UBP House View - November 2024

    Trump's return to the White House marks the start of a new era that is set to boost US-based companies while the wider global investment landscape continues to contract. 

  • 10.10.2024

    UBP House View - October 2024

    The global economy is becoming more fragmented, creating a complex landscape for investors and policymakers. Geopolitical events, such as the US elections, the Ukraine-Russia war, and heightened tensions in the Middle East, are amplifying market uncertainties. In response, we have raised our conviction on gold from 3/5 to 4/5.

  • 12.09.2024

    UBP House View - September 2024

    Over the past 15 months, most asset classes have put in positive performances. However, we’ve entered a transitional phase marked by rising volatility, political risks, and market dissonance. To navigate this shifting landscape, we have reduced our global equity exposure and increased our conviction on hedge funds, as alternative investments are well-positioned to capitalise on current market uncertainties.

  • 14.08.2024

    UBP House View - August 2024

    Earlier in August, global equity markets tumbled due to disappointing US macro data and the unwinding of the Yen carry trade. However, as we expect elevated market volatility until the US Presidential election in November, it may be premature to consider buying the dip.

  • 11.07.2024

    UBP House View - July 2024

    Equity markets rallied during the first half of the year, driven by earnings growth, a macro backdrop that was more resilient than expected, and continued appetite for AI winners (the “Magnificent 7”). Looking ahead, we anticipate a broadening of equity markets’ leadership. Read more about our insights in the July edition of UBP’s House View.

  • 05.06.2024

    UBP House View - June 2024

    Eased ECB policies will boost Europe's recovery. As US growth normalises, developed market economies should converge in the second half of the year, while recent regional market rallies have reinforced our confidence in the UK and Switzerland.

  • 12.04.2024

    UBP House View - April 2024

    The unexpected interest rate cut by the Swiss National Bank marks the beginning of a new cycle of global easing, paving the way for new investment opportunities in the broader market. This has bolstered the Bank’s confidence in the Swiss and UK markets, which have been lagging behind the US indices. In addition, we have locked in gains on gold, which was the top performer in March.

  • 07.03.2024

    UBP House View - March 2024

    As the earnings season ends, US tech companies have exhibited robust results, propelling the Nasdaq Composite to a record high. The Bank maintains its convictions on US and Japanese equities while favouring India over China for emerging market growth exposure. We tactically increased our position on gold on the back of central bank demand and geopolitical uncertainties.

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