Equity Multiples Will Go Beyond Previous Levels, UBS Says

The video discusses the current state of equity market valuations, noting that they have surpassed pre-COVID levels due to central banks' unprecedented stimulus and low interest rates. It highlights three main market risks: COVID-19 outbreaks, US political trade tensions, and fiscal stimulus. The discussion also covers the potential for a significant fiscal stimulus in the US. The video further explores the role of gold in portfolios, driven by negative real rates and potential inflation risks, and suggests a broader view on commodities, including energy and base metals.

What factors are contributing to the current equity market valuations being higher than pre-COVID levels?

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What are the three main risks currently affecting the market according to the discussion?

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How is the potential fiscal stimulus expected to impact the economy in the upcoming months?

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What is the forecast for gold prices mentioned in the discussion, and what factors are influencing this forecast?

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What is the overall view on commodities as discussed, and what specific areas are expected to see a pickup?

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