UBS On-Air: Market Moves

The policy pattern of the trade war is echoed in the policy pattern of the ongoing Gulf war. In 2025, US threats over tariffs provoked market reactions, leading to a policy retreat in the face of those reactions. Escalating Gulf violence pushed oil prices over USD100/barrel, leading to a policy shift by the US. The risk with this process is that as investors anticipate a policy retreat, the market reaction becomes more muted over time and applies less pressure for policy change.

Leslie joins to spotlight recent market conditions and how they have impacted the repricing and recalibration of fixed income assets. We also reflect on the hawkish commentary delivered from Fed Chairman Kevin Warsh during his first press conference, and what will the Fed be focused on through year-end. Plus, a second-half fixed income market outlook, and a review of positioning recommendations. Featured is Leslie Falconio, Head of Taxable Fixed Income Strategy Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Shane drops by for a timely update on a variety of topics as it relates to Capitol Hill, including where Congress stands on passing a budget resolution for defense and farm aid, a potential vote on bi-partisan crypto legislation, and efforts to avoid another government shutdown. Featured is Shane Lieberman, Senior Governmental Affairs Advisor, Governmental Affairs US. Host Daniel Cassidy

As investor interest in commodities has reached a multi-year high, Asset Allocation Strategist, Ian Spencer, joins to review commodity basics, evaluates various investment rationales for adding commodities to a portfolio, explores portfolio construction considerations including allocation size and funding approaches, and summarizes investment recommendations. Host: Daniel Cassidy

As the summer season continues, Burkhard shares his thoughts on recent trends across global equity markets by outlining the factors behind volatility and what might support a recovery. Plus, some takeaways from a recent visit to Qatar as the US-Iran conflict persists and oil is once again on the rise. We conclude with some final thoughts on the World Cup and the tournament’s outcome this past weekend.