UBS On-Air: Market Moves

The US has long been the birthplace and powerhouse of private equity, accounting for over half of global fundraising and setting the pace for the industry worldwide. But Europe’s private equity market is developing fast, even as global economic headwinds persist. What’s driving the shift of economic activity away from public markets, and where are the most promising opportunities for investors on the continent today? In this episode of “Across the Pond,” special guest Viral Patel, CEO of Blackstone Private Equity Strategies, joins hosts Christopher Swann and Belinda Peeters, along with Antoinette Zuidweg, CIO alternatives investment strategist, to discuss the evolution of private equity in Europe, the future of the 60-40 portfolio, and how investors can navigate the changing landscape on both sides of the Atlantic.

Taiwan has made an agreement with the US that will see US importers paying a 15% tariff on Taiwanese products. The 15% number might have additional significance—if the US Supreme Court rules some tariffs illegal, one alternative route is for President Trump to impose a universal 15% tariff. Taiwan pledged to increase investment in the US—some of this will be already planned investment, and markets have learned not to take such announcements as definitive.

Kurt Reiman, Head of Fixed Income Americas, and Shane Lieberman, Senior Governmental Affairs Advisor, provide a comprehensive update on a range of timely topics, spanning how Washington is addressing housing affordability, geopolitical points of interest such as Iran and Venezuela, the upcoming SCOTUS ruling on the Trump administration’s use of IEEPA for tariff policy, the U.S. Department of Justice’s investigation into Fed Chair Powell, and where negotiations stand to avoid a partial shutdown of the U.S. government comes the end of January. Host: Daniel Cassidy

UK monthly GDP data was stronger than expected, and revised stronger for the previous month—but the monthly GDP data is economists’ version of white noise (a background hum to help one sleep). Manufacturing and services data was stronger and generally revised up. Trade data showed a lot more volatility in previous metal trade, and stronger exports (away from the US). European trade data should also show normal non-US trade.

Join Evan Brown, Head of Multi-Asset Strategy and Portfolio Manager, for an assessment of the current macro and market environment as we have entered 2026. Hosted by Fatou Konteh, Multi-Asset Specialist. Recorded on 26.01.07