UBS WM underweight equities for first time since eurozone crisis
Shifts positioning amid trade troubles
UBS has also adjusted its overweight position to select higher yielding emerging market currencies
UBS Wealth Management has moved to an underweight position on global equities for the first time since the 2012 eurozone crisis amid fears of an escalation in the trade dispute between the US and China.
US President Donald Trump announced last week that from 1 October tariffs would rise to 30% from 25% on $250bn of Chinese goods already subject to levies. As a result, the S&P 500 closed 2.6% lower...
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