Report published September 22, 2026
Finding Structural Growth Beyond the Rate Cycle: UBS Equity Strategy Report
UBS · September 22, 2026
UBS advises staying positioned for equity upside despite central bank rate hikes, pointing to resilient earnings and structural secular growth across AI, power infrastructure, and healthcare. The firm also maintains an Attractive rating on German and Eurozone equities and favors copper within commodities.
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Finvaulta summarizes UBS's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.Rising interest rates should not derail equity market upside, as resilient economic growth, robust earnings, and transformational innovation in AI remain dominant drivers.
- 2.AI data center expansion is driving broad demand across the energy and resources value chains, benefiting natural gas, renewables, nuclear, energy storage, and power grid equipment.
- 3.Health care provides structural growth and defensive stability via secular trends in longevity, obesity care, oncology, and medical devices despite recent clinical trial setbacks.
Table of Contents
- From the studio
- Thought of the day
- What to watch: 22 September
- Caught our attention
- Market update
Report data
Market update — as of September 21, 2026.
| Metric | Estimate | Context |
|---|---|---|
| AI-related capital expenditure projection | 1.2 USD trillion | Expected global AI capex growth driven by hyperscalers. |
| Nasdaq 100 earnings growth forecast | 43% | Earnings growth forecast for this year. |
| Brent crude price | 101 USD/bbl | Brent crude price drop following higher Strait of Hormuz shipments. |
| US 10-year Treasury yield | 4.95% | Benchmark yield level. |
| S&P 500 Index level | 7765 index points | Daily close and gain for the S&P 500. |
Reports in this series
UBS House View - Daily Asia is shown in chronological order through this edition, published on September 22, 2026.
Part of the UBS House View - Daily Asia series — view all 11 editions
Looking for the latest edition? Daily Asia en 1667824 (Oct 12, 2026)
- Sep 14Daily Asia en 1666407
- Sep 15Daily Asia en 1666581
- Sep 16Daily Asia en 1666660
- Sep 21Daily Asia en 1666828
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