Category Archive: 3.) Swiss Banks

UBS Investor Sentiment and ElectionWatch: Politics and US elections temper wealthy investors’ rising optimism

Most wealthy investors and business owners globally have said they plan to adjust their portfolios based on who wins the US election, with almost half seeing November’s vote as one of their top concerns, according to the new Investor Sentiment study by UBS, the world's leading global wealth manager.

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UBS Secures Naming Rights to New York’s Next Premier Entertainment and Sports Venue and Future Home of the New York Islanders

State of the art UBS Arena at Belmont Park, developed in partnership with Oak View Group, the New York Islanders, and Sterling Project Development, is projected to open for the 2021-22 National Hockey League season.

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New UBS report reveals that joint financial participation is the key to gender equality

Significant majority of men and women believe women need to be equally involved in long-term financial decisions to achieve true gender equality, yet half of women let their spouses take the lead .

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UBS raises USD 440 million for Rockefeller sustainable investment fund

Zurich, June 24 2020 – UBS is investing in Rockefeller Asset Management's Global Environmental, Social and Governance (ESG) Equity fund, broadening the sustainable investment opportunities that it offers to clients. UBS, the world's largest global wealth manager, has allocated directly to the fund through its 100% sustainable multi-asset portfolio, which surpassed USD 10 billion in size earlier this year.

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Insanity: As The US Enters A Depression, Stocks Are Now The Most Overvalued Ever

Two days ago, when a platoon of clueless CNBC hacks said that stocks were extremely undervalued, and must be bought (on their fundamentals, not because the Fed was about to nationalize the entire bond market and is set to start buying equity ETFs in the next crash), we showed just how "undervalued" the market was.

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UBS: Does Anyone Know What Is Happening?

Does anyone know what is happening? Economic data is likely to become increasingly unreliable as a result of the coronavirus lockdown. We know the global economy will be bad. We will not know, with much accuracy, just how bad.

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As COVID-19 Drives People Into Isolation, Wall Street’s New ‘Virtual Workplace’ May Become The Norm

As governments take drastic measures to slow the spread of the Wuhan coronavirus pandemic, Wall Street - much like a plethora of other industries - has embraced the virtual workplace, according to Bloomberg.

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When It Comes to Raw Power, Few Have More of It Than Central Bankers

A common retort to the claim that in voluntary exchange both parties expect to become better off (or they wouldn’t do it) is that exchanges are seldom, if ever, a matter of horizontal, equal exchange of values. Instead, any such interaction between people is ultimately a matter of their exercising power over one another. The implication, and often explicitly stated conclusion, is that there is no voluntariness, that exploitation is always present,...

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Credit Suisse MD Dies In Freak Accident After Slipping Through Chairlift And Being Suffocated By His Own Jacket

Almost exactly 10 years ago, we detailed the tragic death of Gerard Reilly in a skiing accident - the point man on Repo 105, the point person for E&Y's "investigation" into the Matthew Lee whistleblower campaign, Lehman's Level 2 and Level 3 asset valuation, the brain behind the idea to spin off Lehman's commercial real estate business, Lehman's Archstone investment, and likely so much more.

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UBS Tumbles After Biggest Swiss Bank Misses Key Targets As Investors Pull Money

The rift between the US (where rates are still positive) and European banks (where rates have never been more negative) continues to grow. While US banks have so far reported mostly better than expected results for Q4, the same can not be said for Europe, where UBS shares are down 5% as the bank misses fiscal year profitability and cost targets in addition to trimming its mid-term goals.

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Changes to the UBS Board of Directors

Zurich, 10 January 2020 – The Board of Directors of UBS Group AG announced today that it will nominate Nathalie Rachou and Mark Hughes for election to the Board at the Annual General Meeting on 29 April, 2020. David Sidwell and Isabelle Romy will not stand for re-election. David Sidwell will have completed a twelve year term of office and Isabelle Romy has decided to step down after eight years on the UBS Board.

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The S&P’s Biggest Bear Capitulates

First it was Dennis Gartman shutting down his newsletter after more than three decades, lamenting a market that no longer made any sense (a lament shared by Deutsche Bank's Aleksanda Kocic), and now the market's QE4-driven meltup has forced Wall Street's biggest sellside bear to capitulate on his November call that the market will drop in 2020; instead UBS' head of US equity strategy, Francois Trahan, has joined the bullish herd hiking his year-end...

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Credit Suisse Ex-Employee Says “Striking Tall Blonde” Spy Followed Her In Manhattan And Long Island

When Colleen Graham heard a story of investigators looking into Credit Suisse for spying on its recently departed head of wealth management, something sounded familiar. She had recalled, years prior, when she was working on a JV between the bank and Palantir Technologies, a "striking tall blonde" had followed her in Manhattan after she refused to sign off on how revenue from the JV would be booked.

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Repo Crisis Fades Away: For The First Time, A “Turn” Repo Is Not Oversubscribed

It looks like the year-end repocalypse that was predicted by Credit Suisse strategist Zoltan Pozsar is taking a raincheck. Today's Term Repo saw $26.25BN in security submissions ($15.75BN in TSYs, $10.5BN in MBS), below the $35BN in total availability. This was the first "turn" repo that was not fully subscribed (on Monday, there was $54.25BN in demand for $50BN in repos maturing on Jan 17).

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Rosenblatt Goes Full Bear On Apple With $150 Target As China iPhone Sales Slump

Rosenblatt Securities analyst Jun Zhang maintained a sell rating on Apple with a price target of $150 per share, citing a decline in iPhone sales in China is leading to a wave of production cuts by the company. "Based on our recent channel checks, we believe Apple's total iPhone sales in China were down ~-30% y/y in November," said Zhang in a note to clients on Tuesday.

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China No Longer Needs US Parts In Its Phones

China was once very dependent on US chips for its phones. The latest Chinese phones have no US parts. The Wall Street Journal reports Huawei Manages to Make Smartphones Without American Chips. American tech companies are getting the go-ahead to resume business with Chinese smartphone giant Huawei Technologies Co., but it may be too late: It is now building smartphones without U.S. chips.

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UBS Has No Choice In Passing Negative Rate Pain To Customers

There's been talk that the Federal Reserve will slam interest rates to zero or even negative when the next recession strikes. President Trump's support for negative interest rates has quickly increased in the last several months as the latest tracking estimates for Q4 GDP have tumbled to sub 0.4%. 

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UBS unveils Year Ahead outlook for 2020 and a ‘decade of transformation’

Zurich, 20 November 2019 – Stark political choices make the 2020 outlook more difficult to predict, but innovation driven by technology and sustainability will present new winners and losers over the decade ahead, according to UBS Global Wealth Management (GWM)’s new Year Ahead outlook.

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World’s Ultra-Rich Preparing For Market Crash, UBS Warns

A synchronized global slowdown, with no end in sight, has spooked some of the wealthiest investors around the world, according to a new survey from UBS Wealth Management, seen by Bloomberg. UBS polled wealthy investors, who are preparing for a significant stock market correction by the end of next year. 

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Billionaire Boom “Has Now Undergone A Natural Correction”

Over the last five years ending in 2018, the billionaire boom created more billionaires than the world has ever seen. These financial elites saw their wealth increase by more than a third over the same period, but as soon as 2018 rolled around, the billionaire boom deflated, according to a new UBS/PwC Billionaires Report.

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