UBS On-Air: Market Moves

US Treasury Secretary Bessent admitted “several” Gulf countries asked the US for dollar swap lines to cover short-term funding needs from the Gulf war. Where travel has collapsed, or where plunging oil and gas volumes are not offset by price effects, near-term economic support is needed. Longer-term reconstruction and rearmament must be paid for. Sovereign wealth funds may be used in the future, but swaps are less disruptive near-term funding. The economic question is whether this dollar income is spent in the US, or whether dollars are sold and the proceeds spent elsewhere.

People around the world are living longer than ever before, and by 2050 the number of people aged 65 and over is expected to double to 1.6 billion, representing nearly one in six people globally. This unprecedented demographic shift is set to reshape economies, markets, and the way companies operate. In this episode of Across the Pond, host Belinda Peeters is joined by special guest Professor Nic Palmarini, Director of the UK National Innovation Centre on Ageing, and Diana Na, CIO health care analyst, to discuss what this trend means for economies and markets, how it could affect investors, and where the next investment opportunities may emerge in Europe.

Leslie Falconio, Head of Taxable Fixed Income Strategy Americas, joins to provide a fixed income performance update and outlook, including a look at the factors behind interest-rate volatility, and contained spread widening. Plus, a look at the current fixed income positioning recommendations from the UBS Chief Investment Office. Host: Daniel Cassidy

US President Trump unilaterally extended the Gulf war ceasefire, hoping to persuade the Iranian government to talk. The US blockade remains in place, but as it appears Iranian oil is getting through, the economic effect of this is blunted. Investor attention is on Iran’s comments and decisions.

Top of the Morning: Asia’s strategic edge - Diversification, resilience, and opportunity in a shifting world In this episode, Emerging Markets Strategist Americas, Xingchen Yu, explores why Asia is central to global portfolios, highlighting its leadership in technology and AI supply chains as well as its resilience in the face of geopolitical shocks. We discuss how investors can find both opportunity and stability across the region and asset classes, and share key takeaways from the latest IMF meetings, including Asia’s policy outlook and the rising importance of structural reforms. Host: Bryan Contreras