The Bulletin with UBS

With the UN Ocean Conference underway in Nice, we present the first of a two-part exploration of the blue economy, featuring key contributors to a new UBS white paper. See omnystudio.com/listener for privacy information.

This week in New York, UBS and Dior present House of Craft, an exclusive exhibition curated by Carine Roitfeld and dedicated to the craft of couture. With photographer Brigitte Niedermair and UBS’s John McDonald. See omnystudio.com/listener for privacy information.

The sixth edition reflects the views of more than 300 family offices managing an average of $1.1bn. Maximilian Kunkel, CIO for global family and institutional wealth at UBS Global Wealth Management, reports. See omnystudio.com/listener for privacy information.

Many women who’ve experienced a wealth-transfer event faced serious challenges, and most who expect to inherit from their parents feel unprepared. Carey Shuffman discusses the findings of the latest UBS ‘Own Your Worth’ report. See omnystudio.com/listener for privacy information.

With continuing uncertainty and volatility prompted by Trump, trade, tariffs and more, Paul Donovan of UBS tracks the latest economic and geopolitical developments in order to help investors stay focused. See omnystudio.com/listener for privacy information.

US presidents are always in a hurry to advance their agenda but Trump’s actions so far suggest an even greater sense of urgency. UBS’s Kurt Reiman discusses the president’s first 100 days in office. See omnystudio.com/listener for privacy information.

Are artificial intelligence-industry fundamentals more resilient than recent market volatility might suggest? Sundeep Gantori, UBS CIO equity strategist, joins us from Singapore to discuss the opportunity. See omnystudio.com/listener for privacy information.

While the US dollar has been the dominant – but not the only – reserve currency since 1947, its role has been eroded as other currencies have gained market share. UBS’s Paul Donovan explains what might happen next. See omnystudio.com/listener for privacy information.

The ninth annual Art Basel and UBS Global Art Market Report, compiled by Dr Clare McAndrew of Arts Economics, provides a comprehensive, macroeconomic analysis of the state of the global art market in the past year. It examines the industry’s various segments, including galleries, dealers, auction houses and art fairs, and assesses their performance against the backdrop of changes in global economics and wealth. We hear from McAndrew, Art Basel CEO, Noah Horowitz, and Paul Donovan of UBS. See omnystudio.com/listener for privacy information.

Donald Trump’s tariffs amount to a generational shift in US economic policy, with the measures bringing the effective tariff rate on imports into the US to its highest level in at least 100 years. Markets have since been digesting the fallout, with equities dropping sharply, bonds and gold rallying, and the US dollar depreciating against most major currencies. We’re joined by Kurt Reiman, head of fixed income at UBS in New York, to consider the outlook from here, discuss the effects on economies and markets, and ponder – as ever – what smart investors should do. See omnystudio.com/listener for privacy information.

We are joined by the authors of a new UBS report that takes a detailed look at the state of women in the world, gauging gender-equality progress thus far and seeking to understand the remaining barriers. “Gender-Lens Investment: The State of Women in 2025” explores how investors can continue to intentionally align their capital in ways that dislodge the barriers that women face and promote the realisation of their full potential. Amantia Muhedini and Antonia Sariyska of the UBS Global Wealth Management CIO join to discuss. See omnystudio.com/listener for privacy information.

Gold prices soared to another all-time high this week, breaking through the $3,000 per ounce barrier. With the price having reached UBS Global Wealth Management CIO’s long-held target, can it continue to rally? Wayne Gordon, managing director in the UBS CIO in Singapore, joins us to discuss what’s next. See omnystudio.com/listener for privacy information.

The authoritative guide to historical long-run returns is a production of UBS Investment Bank and UBS Global Wealth Management’s Chief Investment Office in partnership with Professor Paul Marsh and Dr Mike Staunton of London Business School and Professor Elroy Dimson of the University of Cambridge. This year's edition explores how 125 years of historical data can provide critical insights for the future. Featuring Paul Marsh, Kiran Ganesh and Tim Ramskill. See omnystudio.com/listener for privacy information.

With the post-election direction of political travel more clear, and with chancellor-elect Friedrich Merz having already outlined plans for a major boost in defence and infrastructure spending, what will this mean for investor confidence? Featuring Maximilian Kunkel, strategist at UBS Switzerland; and Sam Adams, economist for UBS in London. See omnystudio.com/listener for privacy information.

To mark International Women’s Day, we hear from four inspirational female leaders in finance. They discuss gender-lens investing, the rise of female-controlled wealth and its effects on broader economics, and the challenges facing female founders seeking to raise capital. Featuring (above left to right) Anouk Hilti-Zingg of Assarée; Julia Rees Toader of independent portfolio advisory firm Princes Capital; Lu Zhang, founder and managing partner of Fusion Fund; and Ana Mahony, CEO of Addition Wealth. See omnystudio.com/listener for privacy information.

A focus on long-term structural developments influenced by technological advancement, resource scarcity and societal changes. We discuss the topics of security and safety with UBS Global Wealth Management equity analyst Achille Monnet, and head of longer-term investment themes, Alexander Stiehler. See omnystudio.com/listener for privacy information.

When looking at trade between two countries, the value of exports should be lower than the value of imports. In recent years the value of China’s exports to the US has exceeded the value of US imports from China. Why is this happening? As UBS Global Wealth Management chief economist Paul Donovan explains, this doesn’t necessarily mean that there’s a ‘Bermuda Triangle’ affecting US-bound Chinese cargo vessels. See omnystudio.com/listener for privacy information.

Exploring the findings of the new ‘Global Entrepreneur Report’ with Kiran Ganesh, head of investment communications in UBS Global Wealth Management. This is the first UBS report which has actively surveyed the opinions of entrepreneurs in the bank’s client base and its Industry Leader Network. The solicited views cover a wide range of key developments that might shape the growth of both industries and personal wealth. See omnystudio.com/listener for privacy information.

Insights on the future of women’s wealth from the Equality Lounge at The World Economic Forum’s annual meeting in Davos. Emma Wheeler, head of the Women’s Wealth programme at UBS Global Wealth Management, joins the show to discuss how to better unlock investment potential for female founders and to consider the role of women within the unprecedented transfer of wealth currently happening across genders and generations. See omnystudio.com/listener for privacy information.

The theme of The World Economic Forum annual meeting this year was “Collaboration for the Intelligent Age”. UBS Global Wealth Management chief economist Paul Donovan joins us to look back on the week and to discuss the threat posed by “scapegoat economics”. See omnystudio.com/listener for privacy information.