UBS On-Air: Market Moves

Having recently attended the UBS Asian Investment Conference in Hong Kong, Alejo Czerwonko, CIO for Emerging Markets Americas, stops by the studio to share reflections and takeaways. We cover some key points of interest from the conference, including how factors such as geopolitics and AI are influencing the region. Plus, how the overall experience reshaped Alejo’s investment views. Host: Daniel Cassidy

US Treasury Secretary Bessent warmly endorsed Federal Reserve Chair Warsh, describing Warsh as competent and capable of lowering inflation. Such endorsements are not unusual, but as Warsh had to deny being US President Trump’s “sock puppet” this sort of intervention might shape perceptions of political influence. US inflation should fall as the inflationary effects of administration policies (tariffs, war) fade, rather than as a result of Fed policy actions.

A wide-ranging conversation on the landscape for private credit investing, including performance drivers, risk considerations, and what’s important for investors to focus on. Featured are Dan Oneglia, Global CIO of Liquid Credit Strategies, CEO and Co-CIO of Blackstone Multi-Asset Credit & Income Fund with Blackstone, and Leslie Falconio, Head of Taxable Fixed Income Strategy Americas with the UBS Chief Investment Office.

Technology equities exhibited some volatility overnight (South Korea’s markets falling quite noticeably). This is not caused by shifting economic expectations, allowing economists to exhibit indifference. It is too soon to be talking about wealth effects, and for now, consumers’ desire to consume should outweigh any consequences of market volatility.

An introduction to what The Great Wealth Transfer is, the implications of immense wealth changing hands, and how wealth managers must adapt to fulfill the needs and preferences of future wealth holders. Over a multiple part series of episodes, Marianna Mamou, Head of Advice Beyond Investing with the UBS Chief Investment Office, will break down these topics further. Host: Daniel Cassidy