UBS Asset Management maintains a neutral stance on various asset classes amid signs of slowing growth and inflation. While European high yield offers attractive yields, credit spreads are close to cyclical lows, limiting potential price rises. The firm favors the Japanese yen due to anticipated monetary policy tightening and prefers US Treasuries for their improved hedging capacity.
Seven Swiss institutions, including UBS, BCV, and BKB, are participating in the Agorá project, which aims to explore the integration of customer deposits and central bank money into a programmable financial platform. Launched by the Bank for International Settlements and seven central banks, the project seeks to enhance the monetary system through tokenization and smart contracts. The initiative, involving 41 private financial institutions globally, is set to run until 2025.
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