The primary objective for investors in the current market environment should be capital preservation with return being a secondary consideration, according to UBS.

The Swiss bank’s chief investment office (CIO) believes that market-linked certificates of deposit (MLCDs) and market-linked notes (MLNs) in the US are ‘especially effective as a part of a bond ladder in [investors’] liquidity strategy, where assets are earmarked for spending over the next three to five years’, stated UBS on its investment strategy insights last week. With higher starting yields and lower equity valuations, the medium-term outlook for both stocks and bo

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