Seeking Direction

Year to date, global equities have finished 17 trading days with a move of greater than 1 percent up or down, compared with just three in all of 2017. Yet, having traded within a 10 percent range, they are roughly flat on the year at the time of writing. Behind this volatile and directionless trading pattern are at least three areas of heightened uncertainty: geopolitics, trade, and interest rates. At question is the direction markets take from here.

Get more analysis from Mark Haefele, UBS Chief Investment Officer, Global Wealth Management, in UBS House View.

Set your course over the next six-month horizon

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