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UBS warns markets overlook geopolitical risks
Sergio Ermotti, the CEO of Swiss bank UBS, warned about the increasing tendency to overlook geopolitical risks in the global financial markets, despite the escalation of economic and geopolitical upheavals such as the wars in Iran and Ukraine, as well as trade tensions between Washington and Beijing. He explained that current levels of volatility are far below the actual economic reality, largely due to the investment boom in artificial intelligence and data centers, which have helped sustain growth and mask the fallout from crises like rising energy costs, borrowing, and inflation. Ermotti also anticipated that interest rates will remain high for an extended period, with major central banks expected to raise rates further in the coming months to curb inflationary pressures.
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