UBS On-Air: Market Moves Around the Horn: Fixed Income Roundtable with UBS Asset Management
Apr 26, 2025
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Tariffs Spark Market Volatility
- The recent global market volatility was driven by tariff announcements rather than typical shocks like viruses or banking crises.
- This abrupt policy shift has raised concerns about U.S. economic growth and trade relationships ahead.
Manage Liquidity Amid Tax Outflows
- Be cautious with liquidity deployment in money markets during seasonal outflows like tax season.
- Expect ongoing outflows and wider bank floating rate pressures despite some issuance activity.
Front-End Credit Resilience
- Front-end credit markets have shown resilience with positive returns despite volatility.
- Financial sector earnings are stable, supporting bondholder confidence despite tariff noise.