Dear bond investors,

This is an amazing story from Charlie Gasparino at Fox Biz:

UBS is planning a mass mailing to many of its brokerage clients alerting them that they have been reclassified as “aggressive” investors following a recent change in its market outlook that some people inside the firm say reflects growing bearishness in the bond market, particularly over the long term, the FOX Business Network has learned…

According to brokers inside UBS, new guidelines will reflect a growing belief among the firm’s market strategists that the bull market in bonds has largely run its course, and that those investors who believed they had constructed a “conservative” portfolio by being heavily invested in bonds could be reclassified as “aggressive.” Some also believe the move may be an attempt by the firm to lessen its liability in the event clients who are holding large positions in bonds decide to take legal action against UBS.

Now of course, this is something I’ve been telling you would begin sooner or later since at least last October, what with bond prices being at unsustainable premiums and yields virtually guaranteeing the destruction of purchasing power in a price-stable atmosphere, never mind one with an uptick in real inflation.

Nice to see UBS plodding at the speed of a hippopotamus after a mid-morning mud nap.

Also, imagine being a broker sorry, wealth manager, there and having to explain that letter to a client who thinks he’s “safe” in his bonds. That’ll be awesome.


UBS Set to Classify Bond-Buying Clients as ‘Aggressive’ Investors (Fox Business)

Read Also:

My daily linkfest for financial advisors is live!  (Investment News)

33 Times, You Poor Dumb Bastards  (TRB)


This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. bitcoin evolution review commented on Sep 13

    … [Trackback]

    […] Here you will find 197 additional Info to that Topic: […]

  2. blazing trader reviews commented on Sep 21

    … [Trackback]

    […] Find More here on that Topic: […]

  3. what is bitcoin evolution commented on Sep 30

    … [Trackback]

    […] There you can find 54942 more Info to that Topic: […]

  4. bitcoin blazing trader commented on Sep 30

    … [Trackback]

    […] Read More here to that Topic: […]

  5. immediate edge commented on Oct 01

    … [Trackback]

    […] Read More Info here on that Topic: […]

  6. Mossberg guns in stock commented on Oct 13

    … [Trackback]

    […] There you will find 30738 additional Info to that Topic: […]

  7. Buy weed online commented on Nov 21

    … [Trackback]

    […] Read More here to that Topic: […]

  8. Digital Transformation Strategy commented on Nov 27

    … [Trackback]

    […] Find More here to that Topic: […]

  9. quality repair service commented on Nov 27

    … [Trackback]

    […] Here you will find 20901 additional Info to that Topic: […]

  10. buy ruger firearms online commented on Dec 02

    … [Trackback]

    […] There you can find 161 more Information on that Topic: […]

  11. rbc login online banking commented on Jan 27

    … [Trackback]

    […] Info on that Topic: […]

  12. DevOps Service Provider commented on Feb 07

    … [Trackback]

    […] Find More on that Topic: […]