UBS Wealth Says Too Early to Bet on Recession, Fed’s Failure
- Traders must instead focus on inflation: Swiss wealth manager
- UBS GWM recommends value, energy, defensive stocks in report
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It’s not yet time to position for a recession and investors should instead focus on adjusting asset allocation to surging inflation, according to UBS Global Wealth Management.
“Positioning portfolios for recession means deciding that the Fed will fail to win a game in which it ultimately controls nearly all the cards and sets nearly all the rules,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a monthly letter. “Many investors we speak to should do more to position for inflation — a clear and present fact — than recession, which is still only a future possibility.”