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UBS group referred to the USA economy as entering the "roaring 20s".
UBS Group believes that the US economy is gradually approaching the scene of the "Roaring 20s" of the last century, with a 50% chance of an upcoming prosperous economic cycle. The term "Roaring 20s" can be traced back to the same decade a century ago, when massive economic growth drove a construction boom, and household life became increasingly affluent. At that time, the general public may not have been aware of their good fortune, which is the phenomenon the United States is currently experiencing, as stated by Jason Draho, UBS Americas asset allocation manager. Although economists are concerned that unemployment rates may rise, leading to an economic recession or stagnation.
Sector Update: Financial Stocks Mixed in Late Afternoon
Market Chatter: UBS Makes More Than Half of Credit Suisse Bankers in Germany Redundant
Swiss National Bank welcomes a new president. Is there still follow-up on the Credit Suisse crisis investigation?
The new head of the Swiss National Bank will intervene in the Swiss parliament's investigation into how the Swiss authorities handled the collapse of UBS, and the investigation results will be announced in the coming weeks.
Sector Update: Financial
Market Chatter: UBS in Talks With 360 One WAM for Wealth Management JV
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