Top of the Morning – UBS Wealth Management Research

It's Friday morning, and that means it's time for the weekend review and preview. We will review the key market-moving events from this week, such as President Trump's remarks regarding his administration's tax reform framework as well as several notable economic data points. Plus, we will discuss how the equity markets have traded recently, and where opportunities for investors exist at this time. And finally, we'll preview what we can expect in the week ahead.

Today we turn our focus to fixed income as we will examine the implications of recent and ongoing events to the asset class – including tax reform, Fed speak and geopolitics. We will also cover recent allocation changes from the Oct UBS House View, where opportunities exist and more.

Podcast #4: Professor Chris Olivola from the Tepper School of Business at Carnegie Mellon University joins us on this week's podcast to discuss taxes and individual's behavior. It's no secret that people dislike taxes, but tax aversion can often lead to sub-optimal strategies. Chris explains that from a policy standpoint, it's important to highlight that taxes are being used in ways investors care about, and to avoid the word tax if legally possible.

Podcast #3: Practitioner and CIO of the U.S. Behavioral Finance Equity Group for J.P. Morgan Asset Management, Denis Ruhl, joins us on this week's podcast to discuss overconfidence bias, the anchoring effect, the representative bias and their impact on investor's behavior and how mass psychology affects financial markets. Ruhl emphasizes the importance of being able to understand and monitor these biases when making investment decisions and provides recommendations in order to do so.

"Saving for college. Investing in the future." - Dan Huth, Head of Sales Strategy & Advice Beyond Investing, leads this interactive call with Mike Conrath, Head of College Savings for J.P. Morgan Asset Management.

This week's Modern Retirement Podcast discusses the challenging economic environment that millennials face, how that has impacted their inability to be financially independent, and why they may be headed towards a retirement crisis.

Podcast #2: This podcast explores the impact of stress on investment decisions. Professor Mark Fenton-O'Creevy discusses the role emotions play in rational decision making. His academic research explains how anxiety affects humans and animals alike, as noted in the performance of professional traders, and the similar behaviors of hermit crabs and rats.

Today we turn our focus to healthcare as we examine the congressional GOP's latest attempt at healthcare reform; the Senate's Graham-Cassidy healthcare bill. We will discuss what the bill contains, the likelihood of it being passed, implications to the healthcare sector and more.

Podcast #1: This podcast series interviews leading acamedics in the beahvioral finance field and is aimed educating investors on important topics related to behavioral finance. These include discussions on learning and recognizing biases, emotion regulation, risk, planning for cognitive decline, household finannce, how investors' behavior impacts financial markets on a large scale and what should investors pay attention to.

The latest UBS House View has been released; the U.S. economy has been in expansion mode for the past eight years; today we examine whether we are due for a downturn and the catalysts that would trigger one. Plus, we will cover CIO's current asset allocation and where opportunities currently exist.

It's Friday morning, and that means it's time for the weekend review and preview. We will recap this week's key market-moving events, such as this week's two-day Fed meeting and we will also discuss key housing-related economic data. Plus, we will preview what we can expect in the week ahead.

The latest Yield and Income monthly has been released – today we will take a deep dive look into the publication; including insight on performance drivers, opportunities and an outlook on the space.

This week's Modern Retirement Podcast features Sameer Aurora, Head of Client Strategy and discusses the most recent Investor Watch report, Retiring Old Clichés.

Every family's financial plan is unique, but most investment strategies are organized in a similar fashion. Today we will examine CIO's investment approach and framework which is built on the foundation of your financial objectives.

Today our focus is fixed income. We will examine how the municipal market has been impacted by the recent string of devastating hurricanes, particularly the hardest hit states of Texas and Florida. We'll also discuss an outlook for the muni market, related investment themes and more.