Key points We share our research on the potential impact from climate-related risks on three markets, aided by advances in data and climate science. The European Central Bank kept its policy unchanged and signalled the potential for more dovish moves.
UBS House View Weekly — 15 April 2019 “Whatever it takes.” These words of Mario Draghi’s marked the inflection point in the last recession and paved the way to the present economic recovery. But as the euro celebrates its 20th
Rick Rieder and Russ Brownback argue that despite the market turbulence witnessed in the past several months, as well as a dramatic policy reversal, we find ourselves at a moment of remarkable economic stability. That fact, along with greater policy
Short Note ECB As expected, no decisions were taken at today's meeting of the Governing Council. What the market had been waiting for were references to the specifications of the TLTRO-3 program – in particular, how the interest rate will
Key points The first quarter of 2019 has been record-breaking in credit markets, with some surprising winners The dovish change in the European Central Bank’s policy outlook at its 7 March meeting boosted the performance of euro credi Fund flows
Executive summary In the aftermath of the global financial crisis, macroprudential policy has become increasingly important to address different types of risks in the financial system. Given the short history of macroprudential policies, national macroprudential authorities are left with a
ECB’s Governing Council to meet next week The Governing Council will meet next week. The main issues will be the economic outlook, specifications of TLTRO3, and whether the deposit facility interest rate will move. Since the last meeting of the
Investment Strategy Insights Imagine being joined at the hip to China’s economy, having to ride its ups and downs, while at the same time being subject to Federal Reserve policy through a fixed peg to the US dollar. That’s the
Discussions resurfacing on tiering ECB’s negative deposit rate. Last Wednesday, Reuters reported that the European Central Bank (ECB) was ”studying options to lower the charge that banks pay on some of their excess cash as a possible way to offset
The new year has brought with it a new wave of optimism, with equities and credit rallying strongly across the world. The sell-off in equities and credit in the final quarter of last year was caused predominantly by concerns about
Monthly Investment Strategy From the European Central Bank’s tiny steps to the US Federal Reserve’s balance sheet policy, the liquidity tide is high
Risk assets rallied further in February due to optimism on US-China trade talks, low volatility, and positive sentiment from the Federal Reserve’s dovish pivot in January. As US Treasury prices declined, the rate curve steepened, with two-year and 10-year rates
