Podcasts about ubs global wealth management

The sixth edition reflects the views of more than 300 family offices managing an average of $1.1bn. Maximilian Kunkel, CIO for global family and institutional wealth at UBS Global Wealth Management, reports.See omnystudio.com/listener for privacy information.

Singapore shares dipped today as investors continue to monitor the state of the global economy. The Straits Times Index was down 0.27% at 3,869.69 points at 2.11pm Singapore time, with a value turnover of S$657.60M seen in the broader market. In terms of counters to watch today, we have Yangzijiang Shipbuilding. The marine vessel manufacturer reported that its year-to-date order wins for the first quarter of 2025 amounted to six vessels worth US$300 million. Yangzijiang Shipbuilding said this was around 5 per cent of its US$6 billion target for the 2025 financial year. Elsewhere, from Singapore’s core inflation coming in hotter-than-expected in April, to how US President Donald Trump’s trade negotiators are reportedly pushing the EU to make unilateral tariff reductions on US goods – more economic headlines remain in focus. On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Benjamin Goh, Head of Research and Investor Education, SIAS.See omnystudio.com/listener for privacy information.

A gauge of the dollar rose 0.3% after declining Monday as speculation around potential trade deals sparked an extraordinary spike in Taiwan's dollar and resonated across global foreign exchange markets. The MSCI Emerging Markets Currency Index rose 0.6% to a record. US stock futures edged lower after the S&P 500 halted its longest rally in about 20 years. We get a look at the market landscape with Suresh Tantia, Chief Investment Officer and APAC Strategist at UBS Global Wealth Management. He speaks to Bloomberg's Shery Ahn and Haidi Stroud-Watts. Plus - oil dropped during New York's Monday session after OPEC+ agreed to another large output increase, raising concern that additional supply could lead to a global glut just as the trade war threatens demand. We get reaction from Vandana Hari, Founder at VANDA Insights.See omnystudio.com/listener for privacy information.

Today's guest is Paul Donovan, Chief Economist of UBS Global Wealth Management. In today's episode, Paul discusses the impact of structural changes in the economy, particularly in relation to flexible working and demographic shifts. The discussion also touches on the disparities in innovation between the US and Europe, the ongoing trend of spending on experiences rather than goods, and the role of AI in enhancing productivity. (0:00) Starts (2:37) Economic uncertainty, tariffs, and inflation (12:41) Consumer behavior & spending trends, and perceptions (18:22) Japan's economic shifts and demographic challenges (21:38) Reliability issues in economic data and surveys (31:44) Bad economic policies (38:36) The role of the dollar in the global financial system (44:41) Investment perspectives Recorded April 2, 2025 ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Their latest white paper compares four different rebalancing strategies covering 29 years of data. Download here. ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Pedestrians walk past a board showing the numbers of the Nikkei Stock Average on the Tokyo Stock Exchange in Japan on Monday. Tokyo stocks plunged on Monday, with the benchmark Nikkei index suffering its third-largest point drop on record, as global sell-offs continued amid intensifying fears of an all-out trade war and a global economic recession triggered by the United States' tariff hikes.周一，在日本东京证券交易所，行人从显示日经平均指数的电子屏前走过。由于对全面贸易战和由美国加征关税引发的全球经济衰退的担忧不断加剧，全球市场持续抛售，东京股市周一大幅下跌，基准日经指数录得史上第三大点数跌幅。While the Chinese stock market was not immune from Monday's global stock market meltdown after the United States announced wide-ranging tariffs, the A-share market will likely gain continued favor from investors, as China has plenty of policy room in the midterm to long run and its economy is resilient enough to offset the impact of the sweeping tariffs, said experts.专家表示，尽管中国股市未能免受周一美国宣布大范围关税后全球股市崩盘的影响，A股市场仍有望继续受到投资者青睐，因为从中长期看，中国政策空间充足，且经济韧性足以抵御广泛关税带来的冲击。Although the benchmark Shanghai Composite Index and Shenzhen Component Index were down by 7.34 percent and 9.66 percent respectively on Monday, action was taken immediately. Central Huijin Investment, an arm of China's sovereign wealth fund, said during the late trading hours on Monday that it had increased its holdings in exchange-traded funds.尽管基准指数上证综指和深证成指周一分别下跌7.34%和9.66%，但相关应对举措也已迅速出台。中国主权财富基金下属的中央汇金投资公司周一晚间交易时段表示，它已增持交易所交易基金。Fully acknowledging the A-share market's current investment value, Central Huijin said it would increase its exposure and firmly safeguard the stable operation of the capital market.中央汇金充分认识到A股市场当前的投资价值，表示将加大投资力度，坚决维护资本市场的稳定运行。A sell-off swept the global market after US President Donald Trump signed an executive order on Wednesday to impose a 10 percent baseline tariff on all imports to the United States. The policy includes tariffs as high as 34 percent on imports from China and 20 percent from the European Union.美国总统唐纳德·特朗普周三签署行政令，对所有进口到美国的产品征收10%的基准关税。该政策包括对从中国进口的产品征收高达34%的关税，对从欧盟进口的产品征收高达20%的关税。该措施引发全球市场大规模抛售潮。Japan's Nikkei 225 closed 7.83 percent lower on Monday, while Hong Kong's Hang Seng Index slumped 13.22 percent. The pan-European STOXX 600 was 6 percent lower shortly after the opening bell, and Germany's DAX index was more than 9.5 percent lower during early deals.日本日经225指数周一收盘下跌7.83%，香港恒生指数下跌13.22%。泛欧斯托克600指数开盘后不久下跌6%，德国DAX指数早盘跌幅超过9.5%。The US stock market also fell victim to the country's tariff regime. The Nasdaq plunged 5.8 percent on Friday to end the week by losing over 10 percent, signaling the entry of a bear market for the first time since 2022, according to Dow Jones Market Data. The S&P 500 nosedived 9.08 percent over the past week, while the Dow Jones slumped 7.86 percent, with both reporting their biggest weekly losses since March 2020.美国股市也成为中国关税政策的牺牲品。道琼斯市场数据显示，纳斯达克指数周五暴跌5.8%，本周收盘跌幅超过10%，标志着美国股市自2022年以来首次进入熊市。标普500指数过去一周暴跌9.08%，道琼斯工业平均指数下跌7.86%，均创下2020年3月以来的最大单周跌幅。Zhang Bin, deputy director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, said that the latest US tariff policies are "unprecedented" for this generation. Bringing harm both to the US and other economies, the chain effects are hard to predict. Under such circumstances, it is also difficult to foresee the bottom of the US economy and its capital market.中国社会科学院世界经济与政治研究所副所长张斌表示，美国最新的关税政策对这一代人来说是“史无前例的”。对美国和其他经济体都造成了伤害，其连锁效应难以预测。在这种情况下，也很难预见美国经济和资本市场的底部。But most domestic and international investors still have a relatively optimistic outlook with regard to China's economic growth and its capital market. China's development of new technologies and the upgrading of its traditional industries have buoyed economic activity and facilitated the recovery of the capital market, he said.但大多数国内外投资者对中国经济增长和资本市场仍持相对乐观的态度。他说，中国新技术的发展和传统产业的升级刺激了经济活动，促进了资本市场的复苏。China has much room for more policies to expand domestic demand, facilitate industrial growth and stabilize exports. The current valuation of Chinese stocks is quite low when compared with historic levels. This indicates the greater appeal of the Chinese capital market, added Zhang.张斌补充表示，中国在扩大内需、促进工业增长和稳定出口方面还有很大的政策空间。与历史水平相比，中国股市目前的估值相当低。这表明中国资本市场的吸引力更大。In the near term, investors across the globe will lower their risk appetite and adopt a wait-and-see stance in anticipation of a recession due to the US tariffs, said Qiu Xiang, chief strategist of CITIC Securities. But A shares will show higher resilience than Hong Kong stocks or those listed on the US stock market, mainly due to the investor structure.中信证券首席策略师邱翔表示，短期内，全球投资者将降低风险偏好，采取观望态度，以应对美国关税导致的经济衰退。但由于投资者结构不同，A股市场的韧性将高于香港股市和在美上市股票。China's policies to offset the aggravated external impact may be implemented earlier or to a greater extent, he said.他表示，中国抵消外部影响加剧的政策可能会会更早出台，或力度更大。Yi Huan, chief macroeconomist at Huatai Securities, agreed that China may come up with stronger countercyclical policies, including boosting consumption and increasing government investment, as well as further energizing the capital market and the property sector.华泰证券首席宏观经济学家易欢也认为，中国可能会出台更有力的逆周期政策，包括促进消费和增加政府投资，以及进一步激发资本市场和房地产行业的活力。In a report released on Sunday, Goldman Sachs, a US investment bank, expected Chinese policymakers to accelerate fiscal easing measures to offset the drag on growth from the higher tariffs announced by the US.美国投行高盛周日发布的一份报告预计，中国决策者将加快财政宽松措施，以抵消美国宣布提高关税对经济增长的拖累。Mark Haefele, chief investment officer of UBS Global Wealth Management, said on Monday that it holds a "neutral" rating on A shares, given the negative impact of the US tariff policies and the potential retaliatory measures. Investors are advised to look for opportunities in certain State-owned enterprises and high-dividend stocks from the finance, telecommunications, public utility and energy sectors, as these can provide stable returns amid market fluctuations, he said.瑞银全球财富管理首席投资官马克·海费尔周一表示，鉴于美国关税政策和潜在报复措施的负面影响，该行对A股维持“中性”评级。他表示，建议投资者在金融、电信、公用事业和能源等行业寻找某些国有企业和高股息股票的机会，因为这些股票可以在市场波动中提供稳定的回报。In a survey released on Monday, HSBC said that 34 percent of respondents had a positive outlook on the Chinese stock market, higher than the emerging market average and 15 percentage points higher than the last survey conducted in December. The A-share market is thus rated as the top choice among all emerging markets.汇丰银行周一发布的一项调查显示，34%的受访者对中国股市持乐观态度，高于新兴市场平均水平，比去年12月进行的上一次调查高出15个百分点。A股市场因此被评为所有新兴市场中的首选。Meanwhile, these investors, mostly from financial institutions, believed that China's economic stimulus packages will help it to achieve its growth targets both in the short and long term.同时，这些多数来自金融机构的投资者认为，中国的经济刺激计划将有助于其实现短期和长期的增长目标。Murat Ulgen, HSBC's global head of emerging markets research, said that such optimism has reflected investors' confidence in a rebound in China's economic activity, expectations of further stimulus and upbeat sentiment toward the technology sector.汇丰新兴市场研究全球主管穆拉特·乌尔根表示，这种乐观情绪反映了投资者对中国经济活动反弹的信心、对进一步刺激措施的预期以及对科技行业的乐观情绪。tariff hiken.加征关税plungev. / n.骤跌，暴跌risk appetite风险偏好sell-offn.抛售（尤指因恐慌）bear market熊市（股价普遍下跌的市场）retaliatoryadj.报复性的countercyclical policies逆周期政策capital market资本市场baseline tariff基准关税emerging markets新兴市场upbeat sentiment乐观情绪market volatility市场波动wait-and-see stance观望态度

Today's guest is Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, where he advises on over $4 trillion. He's also the author of ‘The New Rules of Investing.' In today's episode, Mark emphasizes the significant role of government spending in shaping investment decisions. He touches on the importance of asset allocation and discusses the challenges of generational wealth transfer. Mark also introduces the concept of the three L's—liquidity, longevity, and legacy—as a framework for effective portfolio management. (0:35) Introduction of Mark Haefele (2:30) The 5 D's: debt, deglobalization, digitization, decarbonization, and demographics (11:46) Lessons from past financial crises (15:18) Government intervention and the economy (16:05) The 3 L's: liquidity, longevity, and legacy (20:54) Behavioral finance and asset allocation (27:05) Challenges in multi-generational wealth preservation (36:20) Current global investment landscape (40:26) De-dollarization (46:05) Balancing personal beliefs with investment decisions (51:15) Mark's most memorable investment ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Hear from Henry McVey, Head of Global Macro, Balance Sheet & Risk and CIO of KKR's Balance Sheet, and Solita Marcelli, CIO Americas for UBS Global Wealth Management, as they discuss and share their outlooks for the rest of 2025 and beyond, including key opportunities and risks.

This annual guide to historical long-run returns is put together by UBS Investment Bank and UBS Global Wealth Management’s Chief Investment Office, in partnership with Professor Paul Marsh and Dr Mike Staunton of the London Business School and Professor Elroy Dimson of the University of Cambridge. The latest edition explores how 125 years of historical data can provide crucial insights for the future. Featuring Marsh, Kiran Ganesh and Tim Ramskill.See omnystudio.com/listener for privacy information.

A focus on long-term structural developments influenced by technological advancement, resource scarcity and societal changes. We discuss the topics of security and safety with UBS Global Wealth Management equity analyst Achille Monnet, and head of longer-term investment themes, Alexander Stiehler. See omnystudio.com/listener for privacy information.

Exploring the findings of the new ‘Global Entrepreneur Report’ with Kiran Ganesh, head of investment communications in UBS Global Wealth Management. This is the first UBS report which has actively surveyed the opinions of entrepreneurs in the bank’s client base and its Industry Leader Network. The solicited views cover a wide range of key developments that might shape the growth of both industries and personal wealth.See omnystudio.com/listener for privacy information.

China has imposed its own tariffs on imports from the US, but what kind of message is it trying to send? SBS Finance Editor Ricardo Gonçalves speaks with Andrew McAuley from UBS Global Wealth Management to find out; plus Rhanya Bosch speaks with Agnus Geddes from Fat Prophets about the day on the sharemarket.

China has imposed its own tariffs on imports from the US, but what kind of message is it trying to send? SBS Finance Editor Ricardo Gonçalves speaks with Andrew McAuley from UBS Global Wealth Management to find out; plus Rhanya Bosch speaks with Agnus Geddes from Fat Prophets about the day on the sharemarket.

Insights on the future of women’s wealth from the Equality Lounge at The World Economic Forum’s annual meeting in Davos. Emma Wheeler, head of the Women’s Wealth programme at UBS Global Wealth Management, joins the show to discuss how to better unlock investment potential for female founders and to consider the role of women within the unprecedented transfer of wealth currently happening across genders and generations.See omnystudio.com/listener for privacy information.

The theme of The World Economic Forum annual meeting this year was “Collaboration for the Intelligent Age”. UBS Global Wealth Management chief economist Paul Donovan joins us to look back on the week and to discuss the threat posed by “scapegoat economics”. See omnystudio.com/listener for privacy information.

We explore the latest edition of the longest-running and most comprehensive study of billionaire wealth. The 10th iteration tracks the wealth of more than 2,500 billionaires across the Americas, EMEA and APAC. As part of its research, UBS also conducted an online survey of the views of a sample of billionaire clients across the world. So what are some of the key discoveries? We discuss the report with Maximilian Kunkel, chief investment officer for global family and institutional wealth at UBS Global Wealth Management. See omnystudio.com/listener for privacy information.

In the first programme of the new year we present a selection of interviews that the Monocle team conducted this past November on the margins of the UBS Australasia Conference in Sydney. UBS gathered industry leaders, policymakers and innovators at the event to explore how topics such as productivity, healthcare and technology affect the economy and investment landscape. Our show features Paul Donovan, chief economist in UBS Global Wealth Management; Renee Lo, Singapore-based regional director at Google; Lachlan Shaw, co-head of UBS mining research; and UBS analyst Richard Schellbach.See omnystudio.com/listener for privacy information.

Alan Dunne welcomes Paul Donovan, Chief Economist of UBS Global Wealth Management, to this episode for a thought-provoking discussion on the global economic outlook. Together, they explore the structural challenges facing Europe and whether the current wave of pessimism is overstated. Paul highlights how data mismeasurement contributes to the gap between perception and reality while acknowledging the hurdles for productivity growth in Europe. They also consider whether comparisons between Europe's economic trajectory and Japan's stagnation are valid and discuss the prospects for U.S. growth under President Trump. The conversation also examines the recent inflation cycle, the potential effects of new U.S. tariffs on inflation, and the implications for Federal Reserve policy.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Paul on Twitter.Episode TimeStamps: 02:28 - Introduction to Paul Donovan06:02 - The state of the European economy09:19 - The notion of fairness is changing13:55 - Can a new economic model emerge?18:54 - Has Europe become Japanified?22:21 - Should Europe worry about lagging behind on tech?29:04 - An economic plague in the UK34:02 - How can economists address the happiness of the people38:15 - What have the cost of things stayed high?44:32 - The potential for supply...

The largest survey of its kind to date, the report reveals insights into buyer behaviours and the transfer of wealth between generations of high-net-worth individuals against a backdrop of challenging economic conditions. This year's edition gathered responses from more than 3,500 such collectors across 14 global markets, including new additions Switzerland, Mexico and Indonesia. The report's author, cultural economist Dr Clare McAndrew, is joined by Paul Donovan, chief economist in UBS Global Wealth Management, and Art Basel CEO Noah Horowitz. See omnystudio.com/listener for privacy information.

Ulrike Hoffmann-Burchardi, head CIO for equities in UBS Global Wealth Management, joins the show to discuss whether the current hype around AI technology and its adoption is justified. As capex and technical innovation continue apace, we'll hear more about UBS's investment framework to identify AI opportunities, shed some light on how AI actually works and highlight its implications for everything from the global economy to sustainable development.See omnystudio.com/listener for privacy information.

Inflation has slipped into the RBA's target band so what does that mean for interest rates? SBS Finance Editor Ricardo Gonçalves discusses with Johnathan McMenamin from Barrenjoey and Hebe Chen at IG Markets, plus Stephen Cobat from UBS Global Wealth Management explains why Sydney is only at a moderate risk of being in a property bubble.

China's central bank may soon opt for more easing moves as the United States is poised for an interest rate cut cycle, as headwinds are emerging amid efforts to stabilize domestic economic momentum, analysts said on Wednesday.9月18日，专家表示，美国稳定国内经济增长势头的举措遭遇逆风，即将进入一个降息周期，为此，中国央行很快就能有更宽松的选择空间。Possible measures include a reduction in the reserve requirement ratio — the proportion of deposits banks must keep as reserves, or a cut in lending rate benchmarks and mitigation in financial burdens of outstanding mortgages, they said.可能采取的措施包括降低存款准备金率——即银行必须作为准备金储存的存款比例，降低贷款基准利率，以及减轻未偿还抵押债款的债务负担。"We anticipate that China is entering a key period for monetary policy, in which the probability of cuts in the RRR and interest rates as soon as possible is increasing," said Wu Chaoming, deputy director of the Chasing International Economic Institute.逐际经济研究所副所长吴超明表示：“我们预计中国正在进入调整货币政策的关键时期，在这个阶段，尽快降低存款准备金和利率的可能性正在增加”。"Measures such as intensified use of structural tools and reduction of existing home loan rates are also worth looking forward to," Wu said.吴超明说：“结构性工具的深化运用和现有房贷利率的下调，都值得期待”。The US Federal Reserve's shift in policy stance will create more favorable conditions for China to cut interest rates, Wu said, adding that domestic factors also point to the rising possibility of rate cuts, including insufficient demand, weakening momentum of month-on-month economic growth and elevated real interest rates.吴超明还表示，美联储政治立场的转变将为中国降息创造更有利的环境，并且我国需求不足、月度经济增长势头减弱和实际利率上升等国内因素也增加了降息的可能性。He added that the necessity has significantly increased for an RRR cut in the near term, which would coordinate with strengthening fiscal support, alleviate pressure on commercial banks and mitigate the impact of a large volume of maturing medium-term lending facilities on market liquidity.此外，为与强化的财政支持相协调、减轻商业银行的压力，以及缓解大量中期借贷便利到期对市场流动性的影响，近期内降低存款准备金率的必要性显著增加。The Fed held its latest Federal Open Market Committee meeting from Tuesday to Wednesday and had yet to disclose interest rate decisions of the meeting up to the deadline for this story's publication.美联储于9月17至18日召开了最新的联邦公开市场委员会，但目前还没有披露会议对调息所做的决定。Analysts, nevertheless, said it was a foregone conclusion for the Fed to cut rates on Wednesday, either 25 basis points or 50bp, as US inflation has eased while the labor market softened.然而，分析师们表示，由于劳动力市场出现软化，美国通胀有所缓解，美联储在18日降息25或50个基准点是意料之中的。Mark Haefele, chief investment officer of UBS Global Wealth Management, said that in a base case forecast scenario in which the US economy will achieve a soft landing, there is room for 100bp of interest rate reductions this year and another 100bp in 2025.瑞银全球财富管理首席投资官马克·海费尔表示，在一中基本情况预测情境中，美国经济将实现软着陆，这意味着今年可以降低100个基点的利率，并在2025年再降低100个基点。Yang Delong, chief economist at First Seafront Fund, said the Fed entering a rate cut cycle has provided a firm foundation for the People's Bank of China, the country's central bank, to implement of a relatively loose monetary policy.前海开源基金首席经济学家杨德龙表示，美联储进入降息周期为中国人民银行实施相对宽松货币政策提供了坚实的基础。This is because the renminbi has started to appreciate against the US dollar upon anticipations of narrowing US-China interest rate spreads, Yang said, adding that August data, especially lukewarm retail sales growth, indicated that China's economic growth still needs consolidation.杨德龙表示，这是因为在美中利差收窄的预期下人民币开始对美元升值，然而8月份的数据，特别是零售额的增长乏力，表明中国经济增长仍需巩固。Retail sales, an indicator of consumption, grew by 2.1 percent year-on-year in August, down from 2.7 percent in July, official data showed. Industrial output and fixed-asset investment also decelerated last month while the expansion in broad money supply remained steady.官方数据显示，作为消费指标的零售额在8月份同比增长了2.1%，低于7月份的2.7%，工业产出和固定资产投资也在上个月放缓，而广义货币供应量的增长保持稳定。The PBOC said last Friday it will introduce additional policy measures to reduce financing costs for enterprises and households and maintain reasonable and sufficient liquidity, after a PBOC official acknowledged room for further RRR cuts.一位央行官员表示有进一步降低存款准备金率的空间，此后，中国人民银行在20日声明，将在之后进一步采取措施降低企业和家庭的融资成本，并保持合理充足的流动性。On Friday, China is scheduled to release the latest loan prime rates, or market-based lending rate benchmarks. China last cut the LPRs in July, with the one-year and over-five-year LPRs both down 10bp to 3.35 percent and 3.85 percent, respectively.中国计划在周五发布最新的贷款市场报价利率，即基于市场的贷款基准利率。中国最后一次降低市场报价利率是在7月份，一年期和五年期以上的利率都下降了10个基点，分别达到3.35%和3.85%。Lou Feipeng, a researcher at Postal Savings Bank of China, said it may be "good timing" to further cut the LPRs on Friday, adding that additional policy support is needed to achieve the annual economic growth target of about 5 percent.中国邮政储蓄银行的研究员娄飞鹏（音）表示，20日也许是进一步降低市场报价利率“好时机”，并且约5%的年度经济增长目标需要更多的政策支持。"The pace of interest rate cuts should be accelerated in accordance with the principle of sooner rather than later. September is good timing for this move. Timely rate cuts will help reduce financing costs and achieve better policy effect in the fourth quarter."“应该根据‘越早越好'的原则加快降息的步伐，九月是采取这一举措的好时机。及时的降息将有助于降低融资成本，并在第四季度实现更好的政策效果。”Lou added that it is also necessary to reduce housing provident fund loan rates proportionally if the over-five-year LPR, on which lenders base their mortgage rates, is lowered.娄飞鹏还表示，如果五年期以上的市场报价利率（银行基于此设定抵押贷款利率）降低，相应地降低住房公积金贷款利率也是必要的。Benchmarkn.基准；水准点Mitigationn.减轻；缓解；缓和（负面的事情）outstanding mortgagen.未偿还的抵押贷款（outstanding此处指未偿付的）Lukewarmadj.微温的；不冷不热的

Our panel reflects on the US Federal Reserve decision to cut interest rates for the first time since March 2020. Paul Donovan, chief economist in UBS Global Wealth Management and Kiran Ganesh, managing director in the UBS Chief Investment Office, discuss the 50 basis-point reduction, consider the macro picture and explain what this week's move means for investors.See omnystudio.com/listener for privacy information.

The first in a special series exploring the meaning of craft in today's world. Craft is not just about what you do but also how you go about doing it: the ability to gaze both backwards and forwards; to recognise heritage and skill, and combine it with a compelling vision. In this series, Monocle and UBS are interrogating how these tenets come to life across different industries. Part one features Paul Donovan, chief economist of UBS Global Wealth Management, and Monocle's editor, Josh Fehnert, discussing how craft can shape everything from banking to storytelling.See omnystudio.com/listener for privacy information.

Mike Ryan is Vice Chairman of UBS Global Wealth Management. In this MoneyShow MoneyMasters Podcast episode, recorded onstage at our Las Vegas Symposium in August 2024, Mike discusses the four powerful forces impacting the economy and the markets – and how investors should adapt to their growing influences. He calls them geopolitical fracturing, social factioning, economic calcification, and technology factoring.In Mike's words, “the world is becoming a more contentious place” and that will impact everything from U.S. trade relationships to consumer shopping habits to corporate/government interaction. Increased tribalism at home and reduced economic mobility will also increase the risk of social unrest. While AI, machine learning, quantum computing, and other technologies will prove “transformational,” they will also likely be incredibly disruptive from political, geopolitical, macroeconomic, commercial, and social standpoints.The net takeaway for investors? Allocate more money to safe-haven assets and be sure your portfolio includes a fixed income component. Also consider focusing on “national champions” that will benefit from consumer and government support. Finally, remember that monetary and fiscal policy will no longer be “uniformly and consistent” positive forces for markets going forward.To gain access to more top experts like Mike, check out the 2024 MoneyShow Orlando, set for Oct. 17-19 at the Omni Orlando Resort at ChampionsGate. Click here to register: https://orlandomoneyshow.com/?scode=061246

On this episode, we welcome Kevin Dennean, CFA, Technology & Communications Analyst Americas, UBS Global Wealth Management for a discussion on artificial intelligence (AI). AI may become one of the most profound innovations and largest investment opportunities in human history. On this episode, we cover a range of topics including: Are we in an AI bubble? How will AI be monetized? What are the key risks to the AI narrative? What does AI mean for the economy and labor? How do we best position ourselves to invest in AI?

The UBS Global Wealth Report has been at the forefront of insights into household wealth for 15 years and has become a key reference point for all those interested in trends shaping wealth across the world. Featuring analysis from UBS Global Wealth Management chief economist Paul Donovan and Economist Samuel Adams. See omnystudio.com/listener for privacy information.

Today's guest is Jason Draho, Head of Asset Allocation Americas for UBS Global Wealth Management. He's also the Chair of the US Investment Strategy Committee.  In today's episode, Jason talks about the possibility of a Roaring 20's decade for the US economy. He discusses the factors contributing to this scenario, including a possible capex boom, AI, the green energy transition and security & deglobalization. He also covers the role of bonds in the new macro regime, the impact of inflation and growth on stocks and bonds, and his take on the deglobalization narrative. (1:40) Welcome to Jason Draho (2:09) The resilience of the US economy (3:08) Misinterpreting economic signals (4:07) Household financial health post-pandemic (6:29) Positive demand shock and investment trends (14:11) US growth projections (23:26) Asset allocation strategies (39:04) Gold and real estate markets ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Australian sharemarket suffered its worst one day loss in six weeks as the market continues to push back on expectations for interest rate cuts. SBS Finance Editor Ricardo Gonçalves speaks with Mike Jenneke from UBS Global Wealth Management to find out more.

The 2024 edition of the annual GFO report was compiled entirely in-house for the fifth year and provides the world's largest and most comprehensive study of single family offices. UBS surveyed 320 clients globally in the first quarter and the online survey methodology was distributed to over 30 markets worldwide. So what did UBS discover this year? Here to tell us is Maximilian Kunkel, chief investment officer for global family and institutional wealth at UBS Global Wealth Management.See omnystudio.com/listener for privacy information.

The latest instalment in our ElectionWatch series, based on reports published by the CIO of UBS Global Wealth Management. The reports look ahead to November's potentially seismic general election in the US and consider its impact across sectors, themes and geographies. In today's edition, Dean Turner and Thomas Wacker consider the implications of this election for Europe. As the vote draws nearer, there are potentially two key issues coming to the fore for European investors, businesses and politicians alike: trade and defence.See omnystudio.com/listener for privacy information.

Tensions in the Middle East continue to rise following Iran's attack on Israel. To discuss the latest developments and what could happen next, Solita Marcelli, CIO Americas, UBS Global Wealth Management, is joined by Admiral James Stavridis, Vice Chair of Global Affairs at The Carlyle Group, Paul Donovan, Chief Economist, UBS Global Wealth Management, and Jay Dobson, CIO Energy and Utilities Sector Strategist, UBS Global Wealth Management.

Featuring: Kirsten Fontenrose, President at Red Six International, joins us to discuss the latest US sanctions against Iran Shuli Ren, Bloomberg Opinion Columnist, sits down with us to discuss China Vanke and China's real estate troubles. Dominic Schnider, Head of Global Commodities & Forex at UBS Global Wealth Management, sits down with us to share his perspective on APAC markets.  Apple: https://podcasts.apple.com/us/podcast/bloomberg-daybreak-asia/id1663863437Spotify: https://open.spotify.com/show/0Ccfge70zthAgVfm0NVw1bTuneIn: https://tunein.com/podcasts/Asian-Talk/Bloomberg-Daybreak-Asia-Edition-p247557/?lang=es-esSee omnystudio.com/listener for privacy information.

The eighth annual Art Basel & UBS Global Art Market Report, authored by renowned cultural economist Clare McAndrew, once again provides a comprehensive, macroeconomic analysis of the state of the global art market in the preceding 12 months. We discuss the findings with McAndrew, Art Basel CEO Noah Horowitz and UBS Global Wealth Management chief economist Paul Donovan.See omnystudio.com/listener for privacy information.

The global artificial intelligence surge, both technologically and investment-wise, combined with China's emphasis on new quality productive forces, will boost AI-related A-share performance, which in turn will drive up associated indexes this year, said experts.专家表示，全球人工智能在技术和投资方面的激增，加上中国对新质生产力的重视，将推动人工智能相关的A股表现，这反过来将推动今年相关指数的上涨。While the benchmark Shanghai Composite Index shed 0.41 percent on Tuesday, A-share AI companies registered an average share price increase of 1.15 percent. With this, share prices of these AI companies have jumped nearly 19 percent since Feb 19, when trading resumed after the Spring Festival holiday.2024年3月12日，当基准上证综合指数下跌0.41%时，A股人工智能公司的平均股价上涨了1.15%。受此影响，自2月19日春节假期后复牌以来，这些人工智能公司的股价上涨了近19%。The global AI boom serves as one major impetus, especially after ChatGPT's creator Open AI released text-to-video generator Sora on Feb 16. Nvidia, the major supplier for Open AI's graphics chips, saw its shares hit record highs, overtaking Amazon and Google's parent company Alphabet in terms of market value.全球人工智能的繁荣是一个主要的推动力，尤其是在ChatGPT的创造者Open AI于2月16日发布了文本到视频生成器Sora之后。Open AI图形芯片的主要供应商英伟达(Nvidia)股价创下历史新高，市值超过了亚马逊(Amazon)和谷歌母公司Alphabet。Zhang Yidong, chief global strategist at Industrial Securities, said the global AI phenomenon will not only buoy the US bourse, but also drive up the value of A-share tech companies, thus helping boost A-share performance in general.兴业证券首席全球策略师张忆东表示，全球人工智能现象不仅会提振美国股市，还会推高A股科技公司的价值，从而有助于提振A股的整体表现。More importantly, China promised in this year's Government Work Report to launch an "AI plus" initiative to accelerate the technology's commercial applications. Meanwhile, new quality productive forces, which have been emphasized in the report, also include emerging industries such as AI, computing and humanoid robots. All these suggest an increasing focus on industrial investment, said analysts from Guotai Junan Securities.更重要的是，中国在今年的政府工作报告中承诺，将启动“人工智能+”计划，加快该技术的商业应用。与此同时，报告中强调的新型优质生产力还包括人工智能、计算和人形机器人等新兴产业。国泰君安证券的分析师表示，所有这些都表明，中国越来越关注工业投资。Liu Chenming, chief strategist at GF Securities, said AI will serve as a major force empowering industries' intelligent digitalization in China. The application of AI technologies will help improve total factor productivity and the country's structural transformation and upgrading. This is also in line with this year's Government Work Report which calls for high-quality development, he said.广发证券首席策略师刘晨明表示，人工智能将成为推动中国工业智能数字化的主要力量。人工智能技术的应用将有助于提高全要素生产率，促进国家结构转型升级。他说，这也符合今年政府工作报告提出的高质量发展的要求。Ethan Wang, head of investment strategy for wealth management at Standard Chartered China, said A-share investors should pay particular attention to AI applications in China given the country's advantages in application scenarios in internet and big data modalities, as well as the commercialization of innovative technologies. Specifically, device makers integrating AI services and the commercial use of AI in business scenarios will churn out the most investment opportunities in China, Wang said.渣打银行中国财富管理投资策略主管王昕杰表示，鉴于中国在互联网和大数据模式的应用场景以及创新技术的商业化方面的优势，A股投资者应该特别关注中国的人工智能应用。具体来说，整合人工智能服务和人工智能在商业场景中的商业用途的设备制造商将在中国产生最多的投资机会。Analysts from Kaiyuan Securities suggested A-share investors search for opportunities related to animation along with film and television companies, especially those possessing well-established intellectual property, as the application of multimodal AI will significantly improve their efficiency and reduce costs.开元证券的分析师建议A股投资者寻找与动画和影视公司相关的机会，特别是那些拥有成熟知识产权的公司，因为多模式人工智能的应用将显著提高它们的效率并降低成本。Opportunities can also be found among semiconductor firms as iteration in AI foundation models will drive up computing demand, said experts from China International Capital Corp Ltd.中国国际金融有限公司的专家表示，随着人工智能基础模型的迭代将推高计算需求，半导体公司也可以找到机会。Li Zhan, chief economist at China Merchants Fund, said that technological innovation will be the major investment theme in China for many years to come. Industries which are supported by favorable industrial policies and the country's resources will generate the most investment opportunities, among which AI is included.招商局基金首席经济学家李湛表示，技术创新将是未来许多年中国的主要投资主题。受到有利的产业政策和国家资源支持的行业将产生最多的投资机会，其中包括人工智能。Experts from UBS Global Wealth Management's Chief Investment Office believe that AI will be the fastest growing tech sector globally over the next decade, with the possibility of it growing into the largest tech sector in 10 years' time.瑞银全球财富管理首席投资办公室的专家认为，未来十年，人工智能将成为全球增长最快的科技领域，并有可能在10年内成长为最大的科技领域。UBS瑞士联合银行（United Bank of Switzerland）Ltd.股份有限公司（Limited）

We mark International Women's Day by taking a deeper dive into a report from the Chief Investment Office (CIO) of UBS Global Wealth Management, which explores how women can realise their lifetime investment goals. With Marianna Mamou, head of advice beyond investing in the UBS CIO.See omnystudio.com/listener for privacy information.

UBS Global Wealth Management chief economist Paul Donovan joins the show to discuss his blog, The Danger in Round Numbers, and explains why rounding up prices can have an effect that goes beyond people's pocket books.See omnystudio.com/listener for privacy information.

Uncover the undercurrents of political power plays and economic enigmas in our latest episode, where I, Darrell McClain,tackle the aftermath of a stirring Iowa caucus. Discover how Trump's triumph shapes the Republican field, with an unfiltered examination of contenders like Ron DeSantis and Nikki Haley. We tear into the odd dissonance between cold economic data and the fiery public sentiment, revisiting a conversation that cuts through the noise of political rhetoric to reveal the core issues swaying voter decisions.Venture beyond the surface with us as we dissect former President Obama's sage counsel to President Biden's campaign strategy, delving into the high stakes of the upcoming elections.  examining Obama's nuanced understanding of Trump's base, the media landscape, and the internal Democratic tensions laid bare by figures like Representative Elissa Slotkin. This discourse isn't just about the players—it's about the game and the intricate moves that define it.Join us as we pay homage to the profound influence of Dr. Martin Luther King Jr., not just through his iconic speeches but his relentless pursuit of economic equality and social justice. We'll also navigate the peculiar ways our minds warp economic realities, inspired by insights from UBS Global Wealth Management's Chief Economist, Mr. Donovan. This episode promises not just a political analysis but a journey through the psychological labyrinth of inflation perceptions—a must-listen for those who seek to understand not just the 'what' but the 'why' behind today's pressing issues. Support the show

The UBS Billionaire Ambitions Report 2023 is subtitled: “Changing of the guard: The coming era of wealth succession and the drive for greater purpose”.  Max Kunkel, CIO for global family and institutional wealth within UBS Global Wealth Management, joins the show to discuss the findings, including the fact that – for the first time in nine editions of the report – billionaires have accumulated more wealth through inheritance than entrepreneurship. Kunkel explains how a new cohort of multigenerational families is taking shape, how this generation has its own views on legacy and ambition – and why this requires increasingly sophisticated solutions for succession planning and defining common values. See omnystudio.com/listener for privacy information.

Apple's Product Design Chief is reportedly leaving the company next year. Fast Company's Stephanie Mehta and D.A. Davidson's Gil Luria discuss what this means for the product pipeline. Plus, crypto is coming off a wild week of price action. Morgan Creek Capital Management's Mark Yusko explains. And, investors are gearing up for a busy week of economic data. UBS Global Wealth Management's Mark Haefele and Douglas C. Lane & Associates' Sarat Sethi lay out the agenda.

Amanda Agati, Chief Investment Officer at PNC Asset Management Group, provides the details of PNC's Christmas Price Index calculating the true cost of all 'The 12 Days of Christmas' gifts. Mark Patricof, Founder and CEO of Patricof Co., discusses Jason Kelce joining a group of athletes investing in IMG Academy. Bloomberg News Wall Street Reporter Sonali Basak and Bloomberg News Finance Reporter Katherine Doherty break down the news of Wall Street's top brass meeting with law makers on Capitol Hill. And we Drive to the Close with Nadia Lovell, Senior US Equity Strategist at UBS Global Wealth Management.Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.See omnystudio.com/listener for privacy information.

UBS Global Wealth Management chief investment officer Mark Haefele discusses his outlook for markets, including how he sees promise in big tech companies. He speaks with Tom Keene, Jonathan Ferro and Lisa Abramowicz.See omnystudio.com/listener for privacy information.

We are joined by two of the authors of a new report from the Chief Investment Office of UBS Global Wealth Management that explores whether the US is set for another “Roaring Twenties”. The economy has evolved in unexpected ways this year, so Jason Draho and Paul Hsiao are here to explain why the macro picture is so unusual and what the secular trends are that will shape the supply side for good (and bad) this decade.See omnystudio.com/listener for privacy information.

The debate around whether the Federal Reserve can pull off a soft landing is heating up. Citi Global Wealth Management's Steven Wieting and Bank of America's Aditya Bhave discuss. Plus, the consumer staples sector has been underperforming the broader market so far this year. Miller Tabak & Co.'s Matt Maley and Horizon Investments' Scott Ladner give the bull and bear cases for the sector. And, surging Treasury yields are putting pressure on stocks. UBS Global Wealth Management's Mark Andersen and Defiance ETFs' Sylvia Jablonski explain.

For the first time ever, the United Auto Workers union is striking at all three Detroit automakers. Jefferies' Philippe Houchois and Harvard Law School's Sharon Block explain. Plus, Wall Street is all but certain that the Federal Reserve will pause interest rate hikes at next week's meeting. UBS Global Wealth Management's Mark Haefele discusses. And, the markets will likely experience volatility today with $3.4 trillion worth of options contracts set to expire. CIC Wealth's Malcolm Ethridge dives into the trading day ahead.

Bloomberg News US Semiconductor & Networking Reporter Ian King and Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani recap Nvidia news after the chipmaker gave a revenue forecast that was much stronger than expected on Wednesday. Splunk CEO Gary Steele talks about his company's earnings and unveiling new innovations. Dr. Andy Pekosz, Professor of Molecular Microbiology and Immunology at the Johns Hopkins University Bloomberg School of Public Health, discusses seeing a summer resurgence in Covid cases. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Health Care Reporter Kristen Brown provide the details of Kristen's Businessweek Magazine cover story The Last Lyme Shot Failed. Will a New One From Pfizer Succeed? And we Drive to the Close with Nadia Lovell, Senior US Equity Strategist at UBS Global Wealth Management. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.

Walmart reports earnings this morning following results from Target and Home Depot earlier this week. Jefferies' Corey Tarlowe previews the report. Plus, Cisco shares are rising on confidence over the company's AI capabilities. Deutsche Bank's Matthew Niknam explains. And, the S&P 500 is now on pace for its third negative week in a row. UBS Global Wealth Management's Mark Andersen and Truist's Keith Lerner discuss.

Offices across the country are still sitting empty. The nationwide office vacancy rate reached a high of about 20% in the first quarter of 2023, according to JLL, and while big tech companies are pressuring workers to return to the office, the hybrid work model has led to an increase in commercial office delinquencies. According to Trepp, a real estate analytics firm, the office delinquency rate surged 125 basis points in May to over 4%.  This spells trouble for the commercial real estate market and the broader economy, according to some experts. Analysts at Morgan Stanley are predicting a decline in commercial property values of up to 40%, a crash akin to the 2008 financial crisis. Fred Cordova, CEO of Corion Enterprises, believes the crash is already underway. But while most firms agree the office sector is under stress, some are more optimistic than others about the outcome for commercial real estate. For example, UBS Global Wealth Management asserts the problem is manageable, and a crash resembling 2008 isn't likely.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In this podcast, host Audrey Childe-Freeman, Bloomberg Intelligence Chief G10 FX Strategist, talks US and global macroeconomic outlook and currencies implications with Solita Marcelli, Chief Investment Officer Americas, UBS Global Wealth Management.

Treasury Secretary Janet Yellen says the risks of a U.S. recession are easing due to the resilient job market. UBS Global Wealth Management's Mark Haefele discusses how this impacts his investing strategies. Plus, the EU's Internal Market Commissioner is meeting with the CEOs of Tesla, Meta, OpenAI, and Nvidia today to discuss tech regulation. GlobalData's Cyrus Mewawalla lays out the details. And, the S&P 500 and Nasdaq are poised to snap multi-week win streaks, which JPMorgan attributes to restrictive monetary policy. 2/13 Strategic Partners' Greg Sarian closes out the final trading day of the week.

Julia Pollak, Chief Economist at ZipRecruiter, shares her insight on the May jobs report and the search engine's Job Seeker Confidence Index. Jack O'Holleran, CEO of Skale Labs, discusses AI integrating with the blockchain. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Startups Reporter Ellen Huet talk about Ellen's Businessweek story Ketamine Retreats Gain Popularity With Ambitious Professionals. And we Drive to the Close with Brenda O'Connor Juanas, Financial Advisor at UBS Global Wealth Management. Hosts: Carol Massar and Matt Miller. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.