08.07.2026
UBP House View - July 2026
In June, we highlighted a paradox: a demanding macroeconomic environment, yet markets buoyed by exceptional corporate earnings. The mid-year point validates that reading and brings with it a turning point. The recent agreements between the United States and Iran have drawn a line under the energy shock that dominated the first half of the year, and the landscape now opening up is a different one, calling for greater selectivity.