🔴 UBS CEO Sergio Ermotti has warned of more volatility in markets in the second half of the year, citing the sharp sell-off that erupted earlier this month.

• Ermotti said markets are likely to see higher volatility in the second half of the year, partly due to the US election in November.

👈 He added: “That’s one factor, but also, if you look at the overall geopolitical picture, the macroeconomic picture, what we’ve seen in the last couple of weeks of volatility, it’s a clear sign that some elements of the system are weakening, and we should definitely expect a higher degree of volatility.”

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