UBS’s Cheong Turns Bearish and Sees 10% Drop Coming for S&P 500
- Equity derivatives strategist recommends buying tail hedges
- “I am tactically bearish for the next two months,” Cheong said
The UBS headquarters in Zurich, Switzerland.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
UBS AG’s top strategist for US equity derivatives said she’s expecting the S&P 500 to fall at least 10% from its peak within a month.
“I am tactically bearish for the next two months,” Rebecca Cheong wrote in a note to clients on Tuesday. “Even a slight disappointment in any of the upcoming economic releases could trigger a large unwind.”