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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGold may hit $2,500 by mid-2025, 'not surprised' if $3,000, says UBS' Kelvin TayKelvin Tay, regional CIO of UBS global wealth management, also said markets have priced in a potential Trump victory.
Persons: Kelvin Tay Kelvin Tay Organizations: UBS, Trump
Ilia Yefimovich/dpa | Picture Alliance | Getty ImagesMarkets are in danger of being "whipsawed" by the combination of regional conflict in the Middle East and rising unemployment in the United States, says Stephen Roach, senior fellow at Yale Law School's Paul Tsai China Center. Most Asian markets fell on Wednesday, tracking losses on Wall Street overnight, as investors fretted over rising tensions in the Middle East. A higher-than-expected unemployment rate could prompt the Fed to accelerate the easing cycle to achieve a soft landing. The unemployment rate in September is expected to come in at 4.2%, according to data of a Reuters poll on LSEG, unchanged from the August figure. The unemployment rate had jumped to near a three-year high of 4.3% in July, a dramatic rise from the five-decade low of 3.4% in April 2023.watch now
Persons: Ilia Yefimovich, Stephen Roach, Yale Law School's Paul Tsai, Hassan Nasrallah, Roach, CNBC's, Stephen Stanley, Kelvin Tay Organizations: Missiles, Getty, Yale Law, Yale Law School's Paul Tsai China Center, Wall, Israel Defense Forces, Santander, Organization of, Petroleum, Energy Information Administration, UBS Global Wealth Management, U.S . Federal Reserve, Traders, U.S, U.S . Federal Locations: Israel, Tel Aviv, Iran, United States, Iranian, Lebanon, U.S .
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoing back to Japanese stocks right now is like catching a falling knife: CIOKelvin Tay from UBS Global Wealth Management argues that the weak Yen is the key driver to Japan's stock market rally the past 2 years. He expects the Yen to strength to 143 against the US dollar which means the selling pressure on Japanese stocks isn't over yet.
Persons: Kelvin Tay Organizations: UBS Global Wealth Management
watch nowGoing into the Japanese market at this moment is akin to catching "a falling knife," Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, told CNBC's "Squawk Box Asia." Stock Chart Icon Stock chart icon"The only reason why the Japanese market is up so strongly in the last two years is because the Japanese yen has been very, very weak. It strengthened sharply after the BOJ raised its benchmark interest rate last week to around 0.25% and decided to trim its purchases of Japanese government bonds. A stronger yen pressurizes Japanese stock markets, which are heavily dominated by trading houses and export-oriented firms by eroding their competitiveness. Ueda also said the 0.5% interest rate level — Japan has not seen that since 2008 — was not a barrier, and rates could go even higher.
Persons: Kelvin Tay, CNBC's, Tay, Kazuo Ueda, Ueda, Organizations: UBS Global Wealth Management, Nikkei, U.S, Bank of, Reuters Locations: Japan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSingapore REITs will be a 'compelling' investment theme in 2024: UBS Wealth ManagementKelvin Tay from UBS Wealth Management says the U.S. treasury yields are expected to fall in 2024, which would make Singapore REITs an asset class worth investigating.
Persons: UBS Wealth Management Kelvin Tay Organizations: Singapore, UBS Wealth Management Locations: Singapore
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEvents in the Middle East won't have a 'major negative impact' on global markets, UBS saysKelvin Tay, regional chief investment officer of UBS Global Wealth Management, says the Russia-Ukraine war was "much bigger" for global markets, but they "are a lot higher than where they were prior to the outbreak of the conflict."
Persons: Kelvin Tay Organizations: UBS, UBS Global Wealth Management Locations: Russia, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPotential Japanification of China? UBS says the situation is 'completely different'Kelvin Tay of UBS Global Wealth Management says China's economy still has huge growth potential over the long run, but the current weakness in the economy means big stimulus is needed and what Beijing has done so far isn't enough.
Persons: Kelvin Tay Organizations: UBS, UBS Global Wealth Management Locations: China, Beijing
Pita Limjaroenrat, leader of Move Forward Party, attends a press conference of the Thai pro-democracy parties in Bangkok. While the benchmark SET index initially rose when the results came through, but eventually gave up those early gains. In fact, Thai stocks are the worst performers in Southeast Asia this year, but Tay says Thailand is his "top pick" in the region. Thailand's SET index is down 9.22% this year, the biggest laggard in the broader Asia Pacific region. The Move Forward party has called for reforms to the monarchy, including changing its defamation law.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's property market recovery needs to be more 'broad-based,' UBS saysKelvin Tay of UBS Global Wealth Management says the sector's recovery is, at the moment, confined to China's Tier-1 cities and government-backed developers.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. Fed might start talking about living with a higher inflation target next month, UBS saysKelvin Tay of UBS Global Wealth Management says "communication has always been the Federal Reserve's way of managing market expectations and managing the market itself."
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