UBS: US trade and fiscal decisions in July are not expected to have lasting impact

 the United States is expected to make important decisions regarding trade and fiscal policies in July. Although these decisions may cause fluctuations, we do not expect them to have a lasting impact on the strong growth or markets in the United States. The environment of declining interest rates and yields supports stocks and high-quality bonds, while the dollar will continue to show signs of weakness. After a strong recent rally, the expected returns for global stock markets for the remainder of the year seem limited.