Stock Bull-Market Intact Amid Worst Quarter Since 2020, UBS Says
- ‘The risk-reward from here is fairly balanced,’ Zirin says
- Federal Reserve more likely than not to manage soft landing
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Stocks are still in a bull market, the U.S. isn’t headed toward a recession anytime soon and the Federal Reserve is more likely than not to orchestrate a soft landing, according to UBS Asset Management’s Jeremy Zirin.
“The risk-reward from here is fairly balanced,” said Zirin, senior portfolio-manager and head of private client U.S. equities at the firm, which has approximately $1.2 trillion in assets under management. “Generally, you don’t see the U.S. equity market fall into a bear market unless you do have a recession, so I think the recessionary risks may have risen, but the biggest risks to the outlook, in my view, still appear to be fairly manageable.”