UBS On-Air: Market Moves

Eric joins Jason at the 1285 podcast studio in New York for a wide-ranging conversation which spans the US macroeconomic environment, rates and the landscape for fixed income, the AI capex cycle, Fed monetary policy, and market risk considerations. Plus, an exchange of views on portfolio positioning. Featured are Eric Van Nostrand, Chief Investment Officer, Lazard Asset Management, and Jason Draho, Head of Asset Allocation Americas with the UBS Chief Investment Office. Host: Daniel Cassidy

On this week’s episode, Burkhard joins us from the rooftop of the legendary Lingotto factory in Turin, Italy, where he outlines the case for why the AI trade has not peaked. We dive into what earnings stories have been telling us, supply-and-demand trends, and reported long-term contracts with Semiconductor companies.

As newly elected lawmakers make their way to Washington DC for New Member Orientation, Shane Lieberman, Senior Governmental Affairs Manager from Governmental Affairs US, takes us behind the scenes for a look at what this week’s agenda consists of. We also take inventory of election result outcomes across the country that remain outstanding, how the process for naming new Congressional leadership has been shaping up, and how lawmakers are responding to this week’s AI-industry related developments. Host: Daniel Cassidy

Today’s release of US October producer price inflation is expected to show higher prices, with oil leading the way. Diesel prices are directly included in this data (they are not in US consumer price numbers). However, there will also be examination of the details to see if there is better evidence of tariff inflation effects fading from the calculation.

UK GDP continued its recent strength, with further gains in the third quarter. (The numbers are just a rough approximation, of course). Services led growth, with car and chemical imports the main offset. UK consumers have generally experienced a small positive real income growth, but have room to reduce savings rates and continue consuming.