UBS

“While UBS, the giant Swiss bank, well, they're a little bit lower at 6,200 with an upside scenario of 7,200.”

“the giant Swiss bank just halted withdrawals of a 470 million real estate fund and told investors they can't have their money back for up to three years.”

“UBS is actually saying from what that says, we can't give you anything for three years.”

“And unfortunately, UBS is now saying that private credit right up here, private credit might end up seeing defaults as high as 15%. They saw it as high as 13% just 4 weeks ago. Now they're revising that up even higher to 15% which suggests that the private credit rows are actually worsening in real time.”

“The investment bank has increased its deficit projection for 2026 to 520,000 metric tonses compared to a prior forecast of 407,000 metric tonses.”