UBS: Economic path forward ‘particularly unpredictable’

The company said: “Rapid and significant changes to trade tariffs, heightened risk of escalation and significantly increased macroeconomic uncertainty led to major market volatility in the first weeks of April. We actively engaged with institutional and private clients, helping them navigate the uncertain environment with advice on how to protect their assets and by facilitating their trading activity across asset classes. With a wide range of possible outcomes, the economic path forward is particularly unpredictable. The prospect of higher tariffs on global trade presents a material risk to global growth and inflation, clouding the interest rate outlook. Markets are likely to remain sensitive to new developments, both positive and negative, which are likely to lead to further spikes in volatility. Prolonged uncertainty would affect sentiment and cause businesses and investors to delay important decisions on strategy, capital allocation and investments.”