UBS On-Air: Market Moves Macro Monthly Podcast with UBS Asset Management
5 snips
Nov 24, 2025 Join Evan Brown, Head of Multi-Asset Strategy at UBS Asset Management, as he analyzes the macroeconomic landscape. He shares insights on gauging the U.S. economy amid government shutdowns using private data sources. Brown unpacks the implications of the Fed's recent 'hawkish cut' while highlighting how strong private balance sheets bolster resilience. Additionally, he discusses potential AI-driven market risks and the promising momentum in Asian equities, especially in Japan and Korea.
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Private Data Keeps Economic Picture Clear
- Evan Brown says alternative data sources give a clear read when government data is missing.
- The U.S. shows resilience: labor is soft but stable and consumer spending continues.
Fed Cut Came With A Hawkish Tone
- Evan Brown calls the Fed's recent move a "hawkish cut" due to firmer messaging from Chair Powell.
- He expects a December cut and likely another early next year despite higher longer-term yields.
Private Balance Sheets Power Resilience
- Strong private-sector balance sheets are the key to this cycle's resilience, Evan Brown argues.
- Low household and corporate leverage has allowed the economy to absorb big shocks without broad retrenchment.