Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

UBS’s Weber Sees Volatile Markets in 2013 on Political Risks

Jan. 25 (Bloomberg) -- Recovery in the financial markets will probably be volatile due to political risks and because some structural problems in Europe haven’t been addressed, UBS AG Chairman Axel Weber said.

“Whilst the underlying trend is better, there is still a lot of volatility in the market and it’s not going to be a straight-line recovery,” Weber said during a Bloomberg television interview in Davos, Switzerland today. “It’s going to be bumpy, and therefore investors need to be prepared for that push-back, for the mood in the market to turn.”

Sentiment has improved since the European Central Bank said it would “backstop the system,” Weber said. Market confidence over the year may be impacted by uncertainties stemming from elections in Italy and Germany as well as Spain’s need for a “huge amount of liquidity” as its bonds mature, he said.

“I think we’re going to have a very volatile situation where risk-on, risk-off periods will just alter,” Weber said.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.