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UBS On-Air: Market Moves
Talking Markets ‘Equities edition’ with Melda Mergen (Columbia Threadneedle) & David Lefkowitz (UBS CIO)
Apr 10, 2024
Global CIO for Equities at Columbia Threadneedle and Head of Equities Americas at UBS discuss US equities valuations, performance outlook, sector opportunities, and strategic positioning. Emphasis on high valuations of S&P 500, challenges like volatility, healthcare, energy sectors, and opportunities in emerging markets. Importance of long-term equity investment strategies.
29:42
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Quick takeaways
- Current US equity valuations focused on EPS growth over multiple expansion signal a healthy market return.
- Elevated volatility in US equities driven by headline risks necessitates a cautious approach with potential opportunities in energy sector.
Deep dives
Current Valuations and Justification
Current valuations in the U.S. equities market have shown resilience, with key focus on EPS growth rather than multiple expansion, signaling a healthier market return. The high valuations, while historically high, are supported by strong earnings growth, indicating justified valuations. While some may raise concerns about concentrated performance, the emphasis remains on earnings growth over multiple expansion.
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