A large part of the world is not working today, in celebration of workers. But the old order is changing—and increasingly we may need to celebrate profits. One of the features of the pandemic was an explosion in small business creation. More people have side hustles: Selling on eBay; renting on AirBnB; writing economic books that are widely available for purchase. Self-employment and contract work have increased. The income from these endeavours is often classified as profits.

A monthly check on US equity market performance and positioning considerations with Jeremy Zirin, Senior Portfolio Manager, and Head of the Private Client US Equity Team, and Dominic Schagar, Senior Equity Investment Specialist with UBS Asset Management.

Our conversation outlines some trending tax considerations and developments associated with the muni market. We also spend time reviewing muni-related portfolio themes, along with a review of recent muni market performance drivers. Featured are Kathleen McNamara, Senior Municipal Strategist Americas, and Jeannine Lennon, Municipal Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Eurozone April inflation data generates less of the tense excitement that a US inflation release can produce. The regional data we have already had suggests a modest decline in the headline consumer price inflation rate. Overall, Eurozone inflation has fallen from 10.6% to essentially an on-target number within a year and a half—without an unemployment shock. This suggests that inflation is neither sticky, nor conventionally cyclical.

To begin the week, Jason outlines the current market outlook scenarios of the UBS Chief Investment Office, along with recommendations when it comes to asset allocation. We also recap market activity throughout the month of April and touch on renewed concerns over ‘stagflation’. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Hear from top portfolio managers and business heads from UBS Asset Management’s Muni, Taxable Fixed Income and Liquidity teams. Together, they provide views on markets and what they believe you should be focused on within the fixed income space.

Preliminary consumer price inflation numbers for April are due from Germany and Spain. There are no sizeable base effects or peculiarities in these numbers. The expectation for both counties is an inflation rate similar to March—although the consensus range is moderately wide, and unwinding profit-led inflation is difficult to forecast.

Dan rejoins the podcast to provide his near-to-medium term outlook for the US economy, monetary policy, and equity markets. We also discuss where Dan is finding opportunity within equities, as well as the risks to be mindful of as we approach 2H24. Featured is Dan Suzuki, Deputy Chief Investment Officer at Richard Bernstein Advisors. Host: Daniel Cassidy

As we close out another week (and the month of April), Frank and Barry recap fixed income performance, as well as this week’s notable market moving events, notably the Q1 GDP print. We also preview what you can expect in the week ahead. Featured are Frank Sileo and Barry McAlinden, Senior Fixed Income Strategists for the Americas, UBS Chief Investment Office. Host: Shiavon Chatman

On this week’s episode, Burkhard reflects on April’s market performance and whether potential adjustments to the timing of Fed rate cuts could impact the prospects for growth. We also touch on how investors should consider positioning for rising geopolitical risk, and on the lighter side, share some reading and movie tips for a Spring weekend!

This week we examine what national polling in currently pointing to for the race for the White House, including takeaways from this week’s Pennsylvania primary. Shane also outlines some upcoming agenda items and focuses for Congress, and shares his expectations for Secretary of State Blinken’s visit to China. Featured is Shane Lieberman, Senior Governmental Affairs Advisor, Governmental Affairs US. Host: Daniel Cassidy