UBS On-Air: Market Moves

Paul Baiocchi, Head of ETF Distribution with SS&C ALPS Advisors, drops by UBS Studios for a wide-ranging discussion around “the electrification of everything”, including a look at the opportunity-set, risk considerations, and how to think about investing in the theme. Host: Daniel Cassidy

The yen has been gyrating amidst speculation about intervention in the markets and the possibility of more aggressive action by the Bank of Japan. A Japanese market holiday looms. Intervention only changes a currency’s value if there is a speculative attack to defeat (there is not) or if fundamentals change. Interest rates are a relevant fundamental, but one of many.

While on a visit to Portugal, Burkhard drops by to highlight the factors that have contributed to the country’s economic success, and what investors should know. Burkhard also reflects on the Fed Chairman Kevin Warsh’s Jackson Hole Economic Symposium speech last Friday, and how markets responded.

Crude oil prices continue to move higher amid ongoing fighting in the Gulf. US gasoline prices have not moved much higher, because they did not move much lower when crude oil prices fell. US President Trump’s seeming willingness to overlook record low approval ratings and the threat of losing the midterm elections is challenging markets’ optimism bias.

Following the recently announced historic oil agreement between the United States and Venezuela, there are many open questions around how and when a deal will ultimately come together, along with the implications to energy markets and global investors. Alejo Czerwonko, Chief Investment Officer for Emerging Markets from the UBS Chief Investment Office, provides some clarity around these questions, and background on this notable development. Host: Daniel Cassidy