Lates News

UBS Group CEO Sergio Ermotti said that in the current context of escalating geopolitical uncertainties, investors attempting to sell US assets would be making a "dangerous bet." Ermotti, speaking at the World Economic Forum in Davos, Switzerland, stated, "Diversifying investments while moving away from the US (assets) is unrealistic. The US is the strongest economy globally, and I would not bet on its weakening." On Tuesday, US treasury bonds and the S&P 500 stock index were simultaneously sold off as investors digested the latest developments in tensions between US President Trump and NATO allies over his push to acquire Greenland. Meanwhile, Danish pension fund AkademikerPension plans to exit the US treasury market by the end of the month. As the world's largest wealth management institution, UBS has extensive investments in both the US and European markets, managing assets close to $7 trillion.