UBS On-Air: Market Moves

German industrial production was stronger than expected and (of course) previous data was revised stronger too. November exports were weaker, but US importers have been scrambling to minimize their tax liabilities which has distorted normal patterns of trade.

Affordability remains in focus. US President Trump pledged yesterday to prevent institutional investors buying single family homes, explicitly because of affordability. This follows a series of reversals on highly visible tariffs. These are single issue policies—aimed at tackling narrow problems, rather than being a part of a broader platform.

Following the developments over this past weekend in Venezuela, Senior Emerging Markets Strategist, Alberto Rojas, joins for a timely conversation to explain what factors should be considered against a backdrop of complexity and uncertainty. Featured is Alberto Rojas, Senior Emerging Markets Strategist, UBS Chief Investment Office. Host: Daniel Cassidy

A wide-ranging discussion on yield, credit markets, along with where pockets of vulnerability and opportunity exist within fixed income as we enter 2026. Leslie and Gene also spend time sharing their overall outlooks, along with views when it comes to monetary policy, and positioning across the asset class. Featured is Gene Tannuzzo, Global Head of Fixed Income at Columbia Threadneedle Investments, and Leslie Falconio, Head of Taxable Fixed Income Strategy Americas with the UBS Chief Investment Office. Host: Daniel Cassidy

German November retail sales were weaker than expected, but the October data was revised substantially higher. Throughout 2025, German retail sales data was nearly always revised substantially higher, and there is no reason to suppose that trend will not continue. German consumers are more persistently exuberant than initially reported.