Epstein Secrets

m the Jackson Hole symposium? Since it's an acade=ic forum, new ideas for monetary policy, such as the ones recently c=nsidered by the Fed, ECB, and the Bank of England, will likely be me=tioned. But we caution against expecting a repeat of the 2010 symposium,=where Bernanke telegraphed QE26. Bernanke may well ment

=nsidered by the Fed, ECB, and the Bank of England, will likely be me=tioned. But we caution against expecting a repeat of the 2010 symposium,=where Bernanke telegraphed QE26. Bernanke may well mention th= scope for more accommodation, but he is likely to emphasize the condition=lity of new easing, especi

Settlements BLS: Bureau of Labor Statistics BOE: Bank of England BOJ: Bank of Japan CAGR: compound annual growth

d the US wars in Afghanistan and Iraq. It had already reached current levels before the global financial crisis. Former Federal Reserve Chairman Ben Bernanke has named traumatic national shocks such as 9/11 along with political polarization and “shrill” political debates as possible culprits of the contrad

and the resulting consensus view that the UK was destined for recession. Although the 20% decline in the trade-weighted sterling and rapid easing by the Bank of England were no doubt pivotal in avoiding that fate, the immediate impact of the Brexit referendum has been far less destructive than feared. But as we begi

k of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical

ding to market capitalization. Developments in commodity prices affect earnings estimates. Commodity prices Policy action Loose monetary policy by the Bank of England supports equities. Key date: 8 Nov, Bank of England policy meeting 2 UBS Recommendations Tactical (6 months) e The UK offers an attractive 4% di

4/oz) UBS View (gold) Gold 6-month target: USD 1,875/oz ¢ So far we saw inflows into gold of around 4 million ounces via physically backed ETFs since Bernanke's speech at Jackson Hole. We expect this trend to continue and to lead to an undersupplied market, with financial demand also finding its way into go