Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 33)
As the Trump administration marks 100 days in office, Burkhard reflects on how global markets have performed during this span. Plus, we dive into the US-China tariff conflict and discuss how this trading relationship may evolve from here, along with what investors should be mindful of when it comes to China’s economic model.
Online retailer Amazon denied reports it would publish the tariff impact on the price of each item sold on its US website. The general lack of tariff transparency risks higher US inflation by enabling retailers to indulge in profit-led inflation—blaming tariffs for price increases that actually raise profit margin. Lack of transparency also risks consumers blaming tariffs for every price increase, reducing confidence and threatening growth.
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3:06
Top of the Morning: Annuity income as part of your retirement strategy
Justin and Ainsely outline the considerations for adding annuity income as part of one’s retirement strategy, along with explain the current appeal of annuities, and steps investors can take in order to make a plan. Featured is Justin Waring, Senior Total Wealth Strategist, & Ainsley Carbone, Retirement Strategist, UBS Chief Investment Office. Host: Daniel Cassidy
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11:48
UBS On-Air: Paul Donovan Daily Audio '100 days of uncertainty'
US President Trump is to mark their 100th day in office with a partial retreat on auto-part trade taxes, and a speech. The speech risks further erratic policy pronouncements—Trump declared very negative approval ratings to be “fake news”, but may want to blame external forces for their poll performance. That might lead to policy pronouncements on immigration, trade, or some other economically significant issue. Uncertainty about such policy shifts has economic consequences.
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2:44
Top of the Morning: CIO Strategy Snapshot - An exceptional debate
Coming off of one of the best weeks for US equities in 2025, Jason considers whether investors are getting ahead of themselves as macro uncertainty remains. Jason also weighs in on the debate over whether US exceptionalism can continue. Plus, a review of CIO’s latest market outlook and investor recommendations per the May UBS House View. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host: Daniel Cassidy
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