UBS On-Air: Market Moves

The CIO municipal research team drops by to share a 2026 muni market outlook, along with their performance expectations across muni sub-sectors. Featured are Sudip Mukherjee, Senior Fixed Income Strategist Americas, Ted Galgano, Senior Municipal Strategist Americas, & Jeannine Lennon, Senior Municipal Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

We start the week by reflecting on market performance in the early days of 2026, along with last week’s flurry of policy announcements and economic data releases. Jason explains what this all means for the investment outlook, and the prospects for further Fed rate cuts. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host: Shiavon Chatman

The US Department of Justice launched a criminal investigation into the Federal Reserve and Fed Chair Powell. In an unusually explicit statement, Powell suggested that this was because of the Fed’s refusal to meet US President Trump’s demands for rate cuts. Bond and currency market reactions signal concerns this may be a challenge to Fed independence.

Tune in at the start of the trading week ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth Management, briefs you on what’s the signal, and what’s just noise in the markets. Recorded on 11 January 2026.