UBS On-Air: Market Moves Client Strategy Office

We recap the week that was, including today’s release of the April employment report, Wednesday’s Fed statement and press conference, along with preview what you can expect in the week ahead. Featured is Brian Rose, Senior Economist Americas, UBS Chief Investment Office. Host: Shiavon Chatman

Our conversation covers recent developments and potential executive action surrounding the US-Mexico border, Secretary of State Blinken’s Middle East regional tour, and a motion to vacate House Speaker Mike Johnson. Featured is Shane Lieberman, Senior Governmental Affairs Advisor, Governmental Affairs US. Host: Daniel Cassidy

US employment report Friday looms. Around 119,000 companies will be asked about their employees. Around 67,000 companies will not bother to reply. Markets will obsess about the data anyway. The expectation is for slower job creation (as measured by payrolls), with a stable monthly change in average earnings (which are not the same thing as wages).

Our series of emerging markets conversations continues as we expand on CIO’s view on emerging market debt, along with risks and positioning considerations to be mindful of. Featured is Donald McLauchlan, Emerging Markets Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Chief Investment Officer, Mark Haefele, and colleagues around the world discuss inflation expectations, the outlook and implications of the situation in the Middle East, and scenarios for investors.

The Federal Reserve announced a slower pace of shrinking its balance sheet. Context is important here—quantitative policy is about the balance between the supply of and demand for liquidity. Demand for liquidity was slowing significantly after the pandemic, requiring the Fed to shrink its balance sheet to match. Liquidity demand is now slowing less, so the Fed’s balance sheet can shrink more slowly.