UBS On-Air: Market Moves
CIO Global Livestream - After the correction
Aug 29, 2024
Mark Haefele, the Global Chief Investment Officer, dives into the recent market volatility and its root causes. He explains the importance of a long-term investment strategy amid sudden fluctuations. The conversation shifts to the unpredictable landscape of upcoming elections and their potential market implications. Haefele also discusses fixed income strategies in a divided government, emphasizing quality investments. Finally, he shares insights on navigating currency markets and the outlook for commodities like gold amidst economic shifts.
31:48
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Quick takeaways
- The recent volatility highlighted the significance of a long-term investment strategy, as markets have quickly recovered from significant corrections.
- Upcoming U.S. presidential elections and their impact on market behavior underscore the heightened volatility traditionally seen in election years.
Deep dives
Market Volatility and Recovery Insights
In early August, the U.S. markets experienced a significant spike in volatility, attributed to a poorer-than-expected July jobs report and the unwinding of the yen carry trade. The S&P 500 saw a 7% pullback, including nearly a 4% drop in a single day, marking the highest volatility levels since the pandemic. Despite this turbulence, the markets have since recovered, with the S&P approaching new all-time highs, just 1% shy of its peak in mid-July. This situation underscores the rapid shifts in market sentiment and highlights the importance of maintaining a long-term investment framework to navigate such fluctuations effectively.
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