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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UBS anticipates elevated slippages for Micro Finance companies due to a significant rise in overdues, with Portfolio at Risk for zero days increasing by 130 basis points to 17.5% in October. The firm notes that while recent floods may have impacted collection efficiency, the overall delinquency trend suggests ongoing over-leverage issues. UBS maintains a "neutral" rating on several banks with substantial MFI exposure, as tighter disbursement norms are expected to reduce liquidity for weaker borrowers and exacerbate delinquencies in the latter half of the financial year.
UBS analysts predict gold prices could reach $2,900 per ounce by the end of 2025, citing strong support despite recent profit-taking and a new Treasury Secretary viewed as a fiscal hawk. They anticipate continued volatility influenced by inflation, interest rates, and geopolitical tensions, while noting that investor allocations in precious metals remain low, indicating potential for growth in both gold and mining stocks.
The Canton of Bern has passed a bill to study the impact of Bitcoin mining on the local power grid, receiving 85 votes in favor. The initiative, led by MP Samuel Kullmann, aims to explore how mining can utilize surplus electricity and stabilize energy supply, despite concerns from the Executive Council about competition for resources and regulatory challenges. This move positions Switzerland as a crypto-friendly nation, reflecting a growing interest in innovative energy solutions.
EUR/JPY and USD/JPY have declined due to rising inflation in Japan, which heightens the possibility of a Bank of Japan rate hike. Meanwhile, AUD/USD is recovering from its November low, with resistance levels noted at ¥161.49-¥162.45 for EUR/JPY and ¥151.95 for USD/JPY.
UBS has maintained a "Neutral" rating for Apple, setting a price target of $236. Analyst David Vogt noted disappointing inventory sell-off rates for the new iPhone in October, suggesting that if sales do not improve significantly post-Thanksgiving, December quarter sales estimates may be overly optimistic by five percent.
China's semiconductor equipment investments are projected to decline significantly in 2025 and 2026, with spending expected to drop to $29.7 billion in 2025, a 19.5% decrease from 2024. This downturn is driven by stricter US export controls and high inventory levels, leading to a slowdown in orders from key suppliers like ASML.Despite these challenges, Chinese firms are advancing in artificial intelligence, with domestic providers anticipated to capture around 20% of the market this year. UBS recommends shares of NAURA Technology Group, while downgrading Advanced Micro Fabrication Inc to "Neutral," citing limited growth potential.
SMI is up in pre-market trading as US futures rise following the holiday break, while the dollar weakens against the franc. The yen surged to a six-week high of 150 per dollar after Tokyo's inflation data exceeded expectations, increasing speculation of a Bank of Japan interest rate hike next month. Analysts note that rising inflation and strong monthly activity bolster the likelihood of this move in December.
The Dow Jones reached a record high above 45,000, while the Nasdaq 100 declined amid caution over tech stocks following Nvidia's mixed earnings. In the US, PCE inflation rose to 2.3% YoY in October, and consumer confidence improved, but durable goods orders fell short of expectations. Key economic indicators are set for release next week, including Australia's GDP and US non-farm payrolls.
The parliament of the Swiss canton of Bern has approved a motion to study the feasibility of Bitcoin mining, despite opposition from the Government Council. The report will explore potential energy sources, collaboration with local miners, and the impact on grid stability, drawing inspiration from Texas's energy policies. Proponents argue that Bitcoin mining could attract jobs and promote renewable energy, while critics highlight concerns over energy consumption and market volatility.
Arabica coffee futures surged to a 47-year high of 323.05 due to severe droughts in Brazil and Vietnam, raising concerns over global supply. Meanwhile, Brent crude oil prices fell to around 72.00 amid a ceasefire deal in the Middle East, with key support levels identified below. Spot silver prices also declined, facing pressure from broader market trends.
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