📝 Equity Inflation Trades Have More Room to Run: UBS Strategy

Macro Equity Navigator: August tends to see sharp gaps higher in volatility. I see well-owned long positions most at risk. Inflation trades in equity markets are breaking out and have more room to run. With the US market likely to oscillate in H2, stay tactically oriented. I recommend two trades: 1) short winners from the first half of the year and 2) long exploration & production (E&Ps) vs. short pure growth. - UBS Strategy