While Wall Street is confident that there will be a continued boom under Trump, UBS GWM is less sure.
"AI infrastructure spending remains robust, and we expect key semiconductor components needed for AI to remain supply constrained in 2025, supporting pricing," UBS GWM strategists wrote.
"We believe investment-grade bonds offer attractive yields and expect mid-single-digit returns in US dollar terms," UBS GWM strategists wrote.
"In 2025, we believe gold will remain an effective hedge against key political concerns, including government debt levels, inflation, or geopolitical tensions," UBS GWM strategists wrote.
Residential and commercial properties both make sense, though UBS GWM specifically cited property types like logistics, data centers, and multifamily housing.
Persons:
Donald Trump, Mark Haefele, UBS GWM, Haefele
Organizations:
UBS Global Wealth Management, UBS GWM, Trump, UBS, Technology, Utilities
Locations:
Japan