At a Glance

UBS maintains a positive medium-term outlook for global equities but advises investors to use commodities, quality bonds, and geographic diversification to hedge against risks from the Iran war and market concentration.

Key Takeaways

• 1.Economic consequences of the Iran war are currently muted, but have caused some damage to global growth and increased headline inflation.
• 2.Investors should diversify equity exposure beyond megacaps into markets like Japan, China, and global healthcare to manage concentration risks.
• 3.The recent sell-off in global bond markets provides an opportunity to 'lock in yields' on quality, short- to medium-term bonds.

Table of Contents

• Market performance (year-to-date)
• Global economic outlook
• Forecasts, by region
• The month's top three questions
• Our top investment ideas for June
• Appendix
• Global asset class preferences definitions
• Risk Information

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