[UBS CEO Warns: Risks Continue to Accumulate, Yet Investors Are Becoming Increasingly Complacent] BlockBeats News, September 10 – UBS CEO Sergio Ermotti stated today that despite the ongoing accumulation of geopolitical and economic risks, investors have become more complacent over the past few years. He noted that the current market should be experiencing greater volatility. Ermotti highlighted that risks stemming from the Iran and Ukraine conflicts, such as energy and shipping disruptions, along with global supply chain pressures, high inflation, and elevated borrowing costs, persist. While large-scale investments in areas like artificial intelligence and data centers have supported economic growth, they are insufficient to eliminate underlying risks. In terms of investment strategy, he mentioned that UBS clients have recently been adopting more diversified allocations across industries and regions rather than betting on a single market direction, while continuing to allocate funds to AI and technology assets. He emphasized that this does not mean capital is fully retreating from the U.S. or the dollar, as the dollar remains the world's primary "reference currency." Regarding interest rates, Ermotti predicted that the European Central Bank, the Federal Reserve, and the Bank of Japan are all likely to raise rates in the coming months, and the market should not expect borrowing costs to quickly return to low levels. He believes inflationary pressures have not significantly eased, and it remains reasonable to expect interest rates to stay at elevated levels for some time. [Original Link]