UBS On-Air

UBS On-Air: Paul Donovan Daily Audio 'Fed fun (not really)'

December 16, 2020 09:24 - 4 minutes - 287 Bytes

The US Federal Reserve is meeting. Markets seem to be getting excited without necessarily knowing why they are getting excited. Central banks are not designed to solve pandemics or (particularly) to deal with the structural changes of industrial revolutions. The phenomenally strong pace of business creation does not suggest significant constraints on US entrepreneurship.

Top of the Morning: US Energy and MLPs - The year ahead

December 15, 2020 17:12 - 25 minutes - 1.51 KB

Today we continue with our series of year-ahead conversations, and will focus in on the US Energy and MLP sectors. Our conversation will cover a performance outlook for these sectors, the implications of an upcoming political shift in Washington, trends expected to play out over the next decade and more. Featured are Nicki Decker, Energy Analyst Americas, and Jay Dobson, MLP and Utilities Analyst Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Top of the Morning: US Industrials and Materials - The year ahead

December 15, 2020 17:09 - 15 minutes - 926 Bytes

Today we continue with our series of year-ahead conversations, and will focus in on the US Industrials and Materials sectors. Our conversation will cover a performance outlook for these sectors, the implications of an upcoming political shift in Washington, trends expected to play out over the next decade and more. Featured is Adam Scheiner, Industrials and Materials Analyst Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Producing and not producing'

December 15, 2020 08:44 - 4 minutes - 274 Bytes

European restrictions have been increasing?London is to be placed under stricter restrictions for three days, and the Netherlands is tightening its controls. However, the economic effects of restrictions should be proportionately less than in the first half of the year, as companies and consumers have learned to adapt.

UBS On-Air: UBS CIO Livestream Podcast

December 14, 2020 21:57 - 32 minutes - 1.89 KB

In this latest CIO livestream titled ?New Year?s portfolio resolutions?, Mark Haefele, Global Chief Investment Officer, hosted CIO speakers from around the world to discuss on how to build a better financial future and to look at New Year's Resolutions for your portfolio.

Top of the Morning: CIO Strategy Snapshot - New Year?s portfolio resolutions

December 14, 2020 16:27 - 21 minutes - 1.27 KB

This time of year the thought of a New Year?s resolution enters into the minds of many. As we will soon turn the page on what was a challenging and unprecedent 2020, today we will discuss some New Year?s resolutions to consider for your portfolio in 2021. We will also touch on what vaccine deployment will mean for the economic recovery, the path forward for equity markets, as well as the importance of portfolio diversification for the year-ahead and beyond. Featured are Jason Draho, Head o...

UBS On-Air: Paul Donovan Daily Audio 'Activity data and delays'

December 14, 2020 08:17 - 3 minutes - 237 Bytes

The interminably tedious EU-UK divorce continues as expected. There is nothing useful to say on the situation, but that will not stop politicians from saying things. Just ignore them.

UBS On-Air: Washington Weekly Podcast - The race for fiscal relief

December 11, 2020 16:48 - 19 minutes - 1.13 KB

We check in with the UBS US Office of Public Policy to discuss the latest developments within the beltway and beyond. Our conversation today will focus on the latest on fiscal relief negotiations, a groundbreaking lawsuit within the Communications Services sector, historic Middle East peace talks and more. Featured is Shane Lieberman, Federal Affairs Manager, UBS US Office of Public Policy. Host: Daniel Cassidy

UBS On-Air: Explaining ESOPs in 15 Minutes

December 11, 2020 13:57 - 15 minutes - 904 Bytes

More and more business owners are exploring Employee Stock Ownership Plans (ESOPs) as an exit strategy. In this podcast, Certified Exit Planning Advisors Keith Apton and Nick Francia, of The Capital ESOP Group, UBS Global Wealth Management, will dive into the basics of ESOPs. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'The return of Macron the Vampire Slayer'

December 11, 2020 07:48 - 4 minutes - 249 Bytes

French President Macron has once again been channelling Buffy the Vampire Slayer in dealing with the pandemic, announcing that France will not allow people out after dark. European countries have been extended restrictions, but the economic impact of this is lessened by the fact that people have learned to adapt.

Top of the Morning: The hottest year for IPOs in two decades, explained

December 10, 2020 19:47 - 18 minutes - 1.1 KB

2020 will be remembered for having delivered a global health crisis, a polarized US election cycle, and at times, quite volatile market conditions. Though few might remember 2020 as being the hottest year for IPOs in nearly two decades. Today we will explore what drove this year?s historic IPO activity both here in the US and abroad, what the year ahead might look like for IPOs and what this kind of activity means for markets and investors. Featured is Jason Draho, Head of Asset Allocation...

UBS On-Air: Paul Donovan Daily Audio 'Stimulation and restriction'

December 10, 2020 08:25 - 4 minutes - 244 Bytes

The European Central Bank meets, with expectations of more bond buying. But the ECB has two challenges. First, you cannot stimulate a restricted economy?the ski resorts of Europe will not do more business if the ECB offers more accommodation, because most of the ski resorts of Europe are closed.

UBS On-Air: 'Keeping the aging brain young'

December 09, 2020 16:39 - 32 minutes - 1.89 KB

This podcast tackles a topic that impacts almost everyone of us. Dementia has affected millions around the world and inevitably has likely had an impact on your family, friends and loved ones in one way or another. Brain expert, Dr. Marc Milstein, who specializes in cutting-edge brain science in dementia and Alzheimer's will answer some of the most frequently asked questions when it comes to brain health. He shares how the latest scientific research is providing us with clear strategies to ke...

Top of the Morning: Yield and Income - The year that was and the year ahead

December 09, 2020 16:03 - 20 minutes - 1.2 KB

Today we reflect on yield and income sector performance drivers over the past year, how the space has performed against the recent market backdrop, what the year ahead might have in store and more. Featured is Frank Sileo, Senior Fixed Income Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Are we nearly there yet?'

December 09, 2020 08:33 - 4 minutes - 262 Bytes

The interminably tedious US fiscal discussions continue to be tedious and interminable. US Treasury Secretary Mnuchin has proposed a weirdly specific USD 916bn package. The US economy will slow from the third quarter bounceback, but if a fiscal package raises unemployment benefits, precautionary savings may be spent?limiting how much activity slows.

UBS On-Air: UBS CIO Investor Forum Podcast

December 08, 2020 17:37 - 8 minutes - 498 Bytes

Mark Haefele, Chief Investment Officer UBS GWM, is joined by Bill Maldonado, HSBC Global Asset Management CIO Equities and the CIO for Asia-Pacific, to discuss long term expectations and investment opportunities.

UBS On-Air: Paul Donovan Daily Audio 'Adapting to stronger growth'

December 08, 2020 07:48 - 4 minutes - 241 Bytes

Japan's economy grew strongly in the third quarter (which was not a surprise). The growth was close to the highest forecasts in the forecast range, which should also not be a surprise. Across all major economies, the economic bounceback came earlier and was stronger than markets had expected.

Top of the Morning: CIO Strategy Snapshot - Positioning in light of valuations and unknowns

December 07, 2020 18:54 - 16 minutes - 1006 Bytes

As we embark on a new week we take notice of how risk assets have reached record territory, despite unknowns surrounding the prospects for further fiscal relief out of Washington and rising nationwide COVID-19 case counts. Today we discuss how to think about positioning in light of those unknowns and current valuations. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Goods in demand'

December 07, 2020 07:59 - 3 minutes - 236 Bytes

Reports suggest members of the US Congress may agree to propose the weirdly precise USD 908bn fiscal stimulus package today. The rapid rise in the number of virus cases and the slower rise in the level of employment have added some urgency. The headline number is not something to focus on, as some spending (e.g., unemployment benefit) will be rough estimates.

UBS On-Air: Washington Weekly Podcast - COVID-19 fiscal relief measures, Georgia Senate run-offs and more

December 04, 2020 17:56 - 17 minutes - 1.03 KB

We check in with the UBS US Office of Public Policy to discuss the latest developments within the beltway and beyond. Our conversation today will focus on where we stand with respect to further COVID fiscal relief measures, how State governments are responding to the resurgence of cases, plans for vaccine distribution, the Georgia Senate run-offs and more. Featured is Shane Lieberman, Federal Affairs Manager, UBS US Office of Public Policy. Host: Daniel Cassidy

Top of the Morning: November Jobs Report, Fiscal relief and the week ahead

December 04, 2020 15:24 - 12 minutes - 777 Bytes

Today we recap the week that was, including a breakdown of the November Jobs Report, takeaways from the Fed?s Beige Book, along with a look at some notable testimony on Capitol Hill and where we stand on further COVID relief stimulus. Featured is Brian Rose, Senior Economist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'A Tale of Two Labor Markets'

December 04, 2020 08:01 - 4 minutes - 257 Bytes

The interminably tedious EU-UK divorce has predictably reached the foot-stamping stage. UK Prime Minister Johnson and French President Macron are now (metaphorically) slapping each other around the face with wet mackerels. This is still not the last possible moment for a deal to be done, so a deal is unlikely to be done yet.

UBS On-Air: Post-Election Tax Planning: What now?

December 03, 2020 19:30 - 26 minutes - 1.57 KB

What does the outcome of the 2020 election mean for the prospects of significant tax changes in 2021? We discuss what and what not to expect, along with how to determine the right approach to planning. Featured are Justin Waring, Investment Strategist Americas, and Ainsley Carbone, Total Wealth Strategist Americas, UBS Chief Investment Office, as well as Brad Dillon, Senior Wealth Strategist, UBS Advanced Planning.

UBS On-Air: 'Raising resilient children in a constantly changing environment'

December 03, 2020 16:06 - 22 minutes - 1.32 KB

The pandemic has put a big strain on families, especially homes with children. Rosalind Wiseman, the New York Times best-selling author of The Distance Learning Playbook for Parents is back to offer parents advice on supporting the social, emotional, and educational needs of our children during the these constantly changing times. This podcast is set to answer some pending questions that parents have on dealing with anxiety, screen time and politics. To view the first two parts of this series...

UBS On-Air: Paul Donovan Daily Audio 'An economic shot in the arm?'

December 03, 2020 08:32 - 4 minutes - 261 Bytes

US politicians are talking about using the weirdly precise USD 908bn fiscal proposal as a basis for a compromise package. This would be more about stabilizing than stimulating the economy, but increasing the unemployment benefit reduces the fear of people in work and encourages them to spend the savings accumulated during lockdowns. Aside from the difficulties of getting a deal through Congress, there is uncertainty about whether US President Trump would sign the bill. (Overnight US President...

Top of the Morning: Emerging Markets in the year ahead and beyond

December 02, 2020 15:47 - 13 minutes - 805 Bytes

Today we continue our series of year ahead conversations and focus in on the emerging markets, including the role this asset class will play in an ever-changing environment, along with trends expect in years to come. Featured is Alejo Czerwonko, Chief Investment Officer for the Emerging Markets Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Fiscal flurries'

December 02, 2020 07:57 - 4 minutes - 241 Bytes

There has been a flurry of activity around a US fiscal stimulus, with a bipartisan group of senators suggesting a rather precise USD 908bn package. The headline number is more spin than substance?the actual cost will depend on how many Americans are out of work. It is not clear that this can pass before Congress goes on holiday.

UBS On-Air: How should I be positioned? - The year ahead edition

December 01, 2020 23:37 - 35 minutes - 2.1 KB

On this podcast we like to showcase the UBS House View recommendations versus those of our colleagues from partner asset manager firms. We also touch on timely macro developments and discuss how global markets and asset classes are being impacted. Today we focus on the economic trajectory of the US economy in 2021, expectations for earnings growth, trends that might remain with us as a result of the pandemic, the future of monetary and fiscal policy and more. Featured are Jason Draho, Head...

Top of the Morning: Holiday shopping trends, expectations and popular wish-list items

December 01, 2020 15:58 - 11 minutes - 711 Bytes

As with many aspects of 2020, the holiday shopping season will have a different look and feel however the consumer is still forging ahead. Today we discuss how consumers are choosing to shop, the products on their radar this year, how retailers are adapting this the current environment and more. Featured is Rob Samuels, Consumer Analyst Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'The cost of doing things differently'

December 01, 2020 08:04 - 4 minutes - 262 Bytes

The failure of another generic clothing retailer says more about structural change than the pandemic. Automation is driving down the cost of personalization. The cost of being a retailer has fallen?you don't need a shop, just a good internet connection. Social media makes people brands, with a "merch link in bio" allowing followers to buy hoodies and baseball caps. (My merch links sell books, but I could add a hoodie branded "The interminably tedious EU-UK divorce" if there is demand.)

UBS On-Air: Paul Donovan Daily Audio 'Counting cases, not footfall'

November 30, 2020 08:01 - 4 minutes - 247 Bytes

The focus after Black Friday in the US is normally how many people indulged in the US national sport of visiting the mall. This year the focus is the pandemic risks of large number of people moving around the country before Black Friday. The expected rise in infections is unlikely to change consumers' fear, but it might change policymakers' reactions and restrictions (which matters economically).

UBS On-Air: Paul Donovan Daily Audio 'Restrictions and relative demand'

November 27, 2020 08:37 - 4 minutes - 282 Bytes

The British government announced new restrictions for England, after existing restrictions end next week. Chancellor Merkel urged the EU to close ski resorts next year?Switzerland and Scotland would not necessarily follow that. Money that would have been spent skiing may then be spent in other areas of the economy, but ski-related businesses will need fiscal support. The US Supreme Court voted to prevent restrictions on religious services. This has little immediate economic impact, but might ...

UBS On-Air: Paul Donovan Daily Audio 'Should we be thankful?'

November 26, 2020 08:12 - 4 minutes - 244 Bytes

US markets are closed to allow consumers to prepare themselves for the Black Friday shopping extravaganza tomorrow. An increase in travel over the holiday could be seen as a low level of fear about the virus (economically positive). Alternatively, it could be seen as spreading the virus, risking additional restrictions in two weeks (economically negative).

Top of the Morning: Greentech opportunities

November 25, 2020 13:48 - 22 minutes - 1.33 KB

The world is moving in a greener direction and 2020 delivered much momentum in terms of interest and commitment from investors, the private sector and governments. Today we explore the progress made over the past year, what to expect in 2021 and where opportunities exist for your portfolio. Featured is Michelle Laliberte, Thematic Investing Associate Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Handbag Wars'

November 25, 2020 09:24 - 5 minutes - 305 Bytes

Trade tensions are back. France is demanding payment of its digital tax. Collection was suspended earlier this year, liability was not. US President Trump previously threatened to tax US consumers of French handbags and lipsticks 25% in retaliation. This is unlikely to affect Christmas sales (the goods will already be in the US). The question is how the new administration reacts?there could be an attempt to revive OECD talks on digital taxation.

Top of the Morning: Municipal Market Guide - Hope on the horizon

November 24, 2020 15:25 - 12 minutes - 744 Bytes

Today we turn our focus back to the muni market and discuss what 2021 might have in store for the asset class and how to position accordingly, along with reflections on how munis have performed recently relative to the broader market. Featured is Kathleen McNamara, Senior Municipal Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Episode V ? The Economists Strike Back'

November 24, 2020 08:47 - 4 minutes - 266 Bytes

Reports suggest former US Federal Reserve Chair Yellen (who is an economist) will be nominated as US Treasury Secretary. We are not yet at the nirvana where economists run everything, but this is a step in the right direction. Fiscal policy and regulation will be key to tackling the cyclical challenges of the pandemic, and the structural issues of the fourth industrial revolution.

UBS On-Air: Get to know the Rising Generation

November 23, 2020 21:51 - 12 minutes - 724 Bytes

UBS Wealth Management USA recently launched the rising generation client segment. Listen in to learn about the unique qualities and financial needs of the rising generation, along with how the rising generation feels about the future, their shared goals and the roles the rising generation wishes to fulfill throughout their lives. Featured is Giselle Rivera, Head, Rising Generation Client Segment, UBS Client Strategy Office. Host: Daniel Cassidy Visit ubs.com/rising to learn more.

Top of the Morning: Year Ahead 2021 - A year of renewal

November 23, 2020 12:52 - 24 minutes - 1.46 KB

2020 has been a year like no other, and many investors are ready to turn the page and think about what the year ahead has in store for the markets, the economic recovery and their portfolios. Today my guest will discuss why to anticipate 2021 as being a year for renewal. Featured is Solita Marcelli, the Chief Investment Officer for the Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Pandemic forces drive markets'

November 23, 2020 08:34 - 3 minutes - 232 Bytes

Markets are following pandemic news at the moment?vaccine optimism seems to be supporting risk assets for the time being. While case numbers are rising in the US, these are (perhaps inevitably) in areas which have had fewer restrictions in place. That suggests a lower general level of fear about the virus.

Top of the Morning: The week in review and preview

November 20, 2020 18:40 - 11 minutes - 687 Bytes

With earnings season wrapping up and a cyclical rotation in swing, we recap the major developments moving markets. Topics include a review of third quarter earnings and macroeconomic events, CIO?s renewed positioning recommendations, and a preview of the week ahead. Featured is Matt Tormey, CIO Associate Equity Strategist Americas. Host: Griffin Marie

UBS On-Air: Washington Weekly Podcast - COVID-19 response measures, troop drawdowns and more

November 20, 2020 17:21 - 17 minutes - 1.05 KB

We check in with the UBS US Office of Public Policy to discuss the latest developments within the beltway and beyond. Our conversation today will focus on the resurgence of COVID-19 cases and how states are responding, distribution plans for vaccines, troop drawdowns in the Middle East and more. Featured is Shane Lieberman, Federal Affairs Manager, UBS US Office of Public Policy. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Show me the money'

November 20, 2020 08:30 - 4 minutes - 264 Bytes

US Treasury Secretary Mnuchin has asked the US Federal Reserve to hand over cash. The US Federal Reserve has indicated that it thinks it might be better to use the money for stimulus purposes. Given that there are increased restrictions on the US economy, economists are inclined to side with the Fed. Markets prefer it when policy exhibits joined up thinking?this situation is not joined up and shows limited evidence of thinking.

UBS On-Air: Paul Donovan Daily Audio 'Episode V ? The Return of the President'

November 19, 2020 09:37 - 3 minutes - 237 Bytes

Markets have not heard from ECB President Lagarde for 24 hours. There is no need to fear for the President's wellbeing?two speeches are scheduled today. While a lot can happen in 24 hours in 2020, it seems unlikely that the ECB president will need to change the outlook from the comments made on Tuesday, Monday, or several times last week.

Top of the Morning: Fixed Income Strategist - Counting on it

November 18, 2020 15:25 - 14 minutes - 899 Bytes

In the wake of some notable developments over the past few weeks, we examine how fixed income assets have performed, what the anticipated composition of government might mean for treasury yields, how to think about allocation heading into year-end and more. Featured is Leslie Falconio, Senior Fixed Income Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Hug a tree to hug Biden'

November 18, 2020 07:57 - 4 minutes - 243 Bytes

The UK prime minister will announce a GBP 12bn green industrial revolution; around GBP 4bn seems to be new money. The fourth industrial revolution is also green, e.g. if people work from home rather than in resource-inefficient offices. This is the "hug a tree to hug Biden" strategy that other leaders will surely follow ? sustainability is a way to access the incoming US administration.

Top of the Morning: Open enrollment - A checklist for 2021 benefits

November 17, 2020 20:49 - 14 minutes - 842 Bytes

Open enrollment season is in full swing, and while it may feel daunting, it is important to have a complete understanding of the options you have available and how it all fits within your longer-term financial plan. Featured is Ainsley Carbone, Total Wealth Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

UBS On-Air: Paul Donovan Daily Audio 'Let's get physical'

November 17, 2020 08:14 - 4 minutes - 296 Bytes

Today is dominated by US data. ECB President Lagarde is speaking (it seems that on any day when the sun rises in the east, ECB President Lagarde feels compelled to speak). The focus is the US consumer, with retail sales due. The forecast range has these rising a lot, falling a lot, or something in between.

Top of the Morning: 'CIO Strategy Snapshot - December UBS House View'

November 16, 2020 15:32 - 15 minutes - 904 Bytes

As investors now have clarity with respect to a couple of key longstanding uncertainties, we explore the uncertainties that remain in focus along with whether the recent rally in risk assets is justified. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host Daniel Cassidy

Top of the Morning: Health Savings Accounts (HSAs) - Everything you need to know

November 16, 2020 13:28 - 15 minutes - 943 Bytes

Today we discuss what makes a Health Savings Account such a unique savings vehicle and how to determine whether an HSA is the right fit for you. Featured is Ainsley Carbone, Total Wealth Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

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