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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UBS analyst Timothy Arcuri maintains a bullish outlook on Micron (MU) stock, despite recent underperformance due to mild DDR oversupply. He anticipates a recovery in pricing by late 2025, driven by strong demand for Micron's HBM products, with a projected price target of $125, indicating a 28% upside. The stock holds a Strong Buy consensus among analysts, with an average target of $136, suggesting a potential 40% increase in the coming months.
US stocks declined following mixed inflation reports and rising jobless claims ahead of the FOMC meeting. The ASX 200 also pulled back as strong labor data diminished expectations for an RBA rate cut. Key economic indicators are set for release next week, including US retail sales and central bank meetings in Australia, Japan, and the UK.
Positive messaging from China's Central Economic Work Conference suggests potential stimulus plans, though specifics remain unclear, limiting market enthusiasm. Meanwhile, the ASX 200 approaches a near-term upward trendline support at 8,245, with a potential bounce towards 8,500 if it holds. Caution prevails in Wall Street following mixed US economic data, as participants await the Federal Reserve's next moves.
UBS Group AG's involvement in a $300 million debt swap for Barbados diminished after the departure of senior banker Ramzi Issa, who had specialized in such transactions. The deal, aimed at refinancing local debt to fund improvements in water and sewage systems, is now being reconsidered with UBS exploring a smaller $50 million role. The transaction, backed by two multilateral lenders, focuses on local-currency debt, limiting its appeal to global banks.
At the 9th Annual Private Banking Conference & Awards in Zurich, Dr. Stefan Gerlach, chief economist at EFG Private Bank, highlighted the mixed state of the global economy, noting slight growth in some areas and rising debt in others. He criticized Trump's bold yet contradictory policies, such as banking deregulation and immigration tightening, which could impact the labor market. In Europe, while Switzerland shows robust growth, Germany remains stagnant, and public deficits continue to pose significant challenges, despite strong performances from previously struggling countries like Spain, Portugal, Greece, and Ireland.
Brent crude oil prices are rebounding from last week's low of 70.76, driven by concerns over tight global supplies amid new EU sanctions on Russian oil. Spot silver remains steady, with a potential rise above $32.28 targeting $32.96. Meanwhile, US wheat prices have recovered from three-month lows, reaching 570, with the next target at 576.
AUD/USD has bounced off a 13-month low of $0.6337, aiming towards the downtrend line at $0.6446, while the EUR/JPY and USD/JPY continue to rise. USD/JPY has surpassed the 200-day SMA at ¥151.99, with potential resistance at ¥153.28 following this week's high of ¥152.86.
AUD/USD and EUR/GBP have fallen to multi-year lows, with AUD/USD dropping to a 13-month low following the RBA's decision to maintain rates at 4.35% while adopting a dovish stance. EUR/GBP has slipped to a 2¾-year low, facing resistance in the £0.8260 to £0.8271 range. Meanwhile, EUR/USD is retreating from a recent high, approaching last week's low of $1.0461.
UBS is restructuring its wealth management business in the US, effective January 2025, to enhance client solutions and profitability. The division will be reorganized into four regions, alongside a segment for international clients and a "Wealth Advice Center" for managing lower asset clients primarily through digital channels. Rob Karofsky will lead the US wealth management unit, aiming for growth in this sector.
Australia is set to abolish Additional Tier 1 (AT1) bonds by January 1, 2027, as part of a regulatory overhaul aimed at enhancing banking stability following lessons learned from recent global banking crises. The Australian Prudential Regulation Authority (APRA) will allow banks to replace AT1 capital with Tier 2 and Common Equity Tier 1 capital, responding to concerns that AT1 bonds failed to effectively absorb losses during financial distress. This move positions Australia as the first country to eliminate AT1 bonds as eligible capital, reflecting a shift towards a more resilient banking framework.
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03:36 15.01.2025
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05:19 13.12.2024
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