Core Insights - Nearly 60% of the largest banks in the U.S. are either already offering Bitcoin-related services or expect to do so, indicating a significant trend towards Bitcoin adoption in the banking sector [1][5] Group 1: Current Offerings and Initiatives - Major U.S. banks such as JPMorgan Chase have launched Bitcoin trading services, while Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley provide Bitcoin exposure primarily to high-net-worth clients [2] - U.S. Bank and BNY Mellon are among the first systemically important banks to offer custody services for Bitcoin [3] - PNC Group has launched both Bitcoin custody and trading services, while State Street and HSBC's U.S. operations have announced custody plans [5] Group 2: Exploratory Stages and Recommendations - Some banks, including Citigroup and Fifth Third, are still in the exploratory stages regarding custody and trading offerings [6] - Bank of America has recommended that clients allocate up to 4% of their portfolios to cryptocurrencies, reflecting a shift in stance even among banks without direct Bitcoin products [4][9] - Bank of America also plans to initiate coverage of four U.S.-listed spot Bitcoin exchange-traded funds (ETFs), which provide direct exposure to Bitcoin [10] Group 3: Banks Yet to Enter the Market - Despite the growing momentum, a significant minority of large U.S. banks have not yet announced Bitcoin-related products or plans, with nine banks remaining on the sidelines [7][8][11]

格隆汇1月27日｜香港交易所信息显示，瑞银集团在中兴通讯H股的持股比例于01月21日从8.88%升至 9.38%。 ...

瑞银最新发布的 2026 年美国经济展望报告指出，美国经济看似稳健的增长背后，实则高度依赖 AI 单 一赛道支撑，一旦 AI 泡沫破裂，美国经济衰退概率将升至 50%，同时瑞银认为，当前市场显著低估了 美联储 6 月前启动降息的可能性，这一观点引发市场对美国经济真实韧性与货币政策走向的重新审视。 关税政策的持续影响也让美国经济与美联储的政策选择陷入两难。瑞银测算，美国当前加权平均关税税 率已升至 13.2%，相当于对经济征收了占 GDP1.1% 的税负，这一成本正缓慢向消费端传导，推动核心 PCE 通胀回升，预计 2026 年夏季通胀将迎来峰值，且长期徘徊在 3% 左右。关税带来的成本推动型通 胀既侵蚀了居民实际收入，又限制了美联储的降息空间，让美国经济在 AI 依赖与通胀黏性的双重约束 下前行。而财政政策虽能提供短期支撑，2026 年二季度约 550 亿美元的退税将短暂提振消费，但这一 刺激具有明显的前置特征，后续对经济的正向贡献将快速衰减。 影响 2026 年美国经济走向与美联储政策的关键变量仍在持续演化，AI 投资能否从资本市场叙事转化为 实际的生产率提升、劳动力市场疲软是否会进一步显性化、关税对通胀的 ...

随着这一长期以来的价格天花板被击碎，期权市场并未出现大规模的获利了结，反而涌入了更为激进的 买盘。交易员正通过大量行权价在5500美元至6000美元之间的远期看涨期权进行博弈，显示出市场主力 对黄金"牛市下半场"的强烈共识。 尽管承认许多投资者正将黄金作为对冲工具，以应对社会不安及其他不确定性，但雷克特沙芬仍坚定认 为，风险资产与避险资产可以同时上涨。 他表示："但我们并不认为，每盎司 5000 美元的高金价与更高的股市相悖。黄金正被大量投资者用作对 冲工具，这正是金价突破 5000 美元的原因。" 据了解，2026年1月26日，全球大宗商品市场迎来里程碑式时刻，现货黄金与COMEX黄金期货价格双 双突破每盎司5000美元的心理关口，创下人类金融史上最高纪录。 智通财经APP获悉，瑞银全球财富管理公司高级投资组合经理艾伦·雷克特沙芬(Alan Rechtschaffen)表 示，尽管金价已飙破 5000 美元，仍对美股持乐观态度。在接受采访时，雷克特沙芬认为，金价高企与 股市持续上涨并非互斥，他坚持认为，多重转型驱动力将推动股市在年底前走高。 该策略师预计，到今年年底，标普500 指数的基准情景为 7700 ...

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PHILADELPHIA--(BUSINESS WIRE)--UBS today announced that four financial advisor teams in the firm's Southeast region have been ranked #1 in their respective cities on the Forbes Best-in-State Wealth Management Teams list of 2026. The Southeast Region is led by Regional Director Julie Fox. "These advisors are some of the best in the business. On behalf of myself and the UBS leadership team, we congratulate each of them on this impressive industry acknowledgement,†Fox said. "We look forward to continuing to su ...

瑞银（UBS）最新全球策略报告指出，近期日本国债（JGB）收益率的急剧攀升已显著超出财政基本面可解释的范围，核心驱动来自 市场对通胀预期的重新定价。该行认为，当前通胀将在年中回落至1.5%左右，这将成为日债与日元走势的关键转折点。 据追风交易台，报告指出，对于投资者而言，这传递出三个关键信号：首先，此次波动并非类似英国2022年"特拉斯危机"的系统性 风险事件，日本股市表现仍具韧性，尤其应避免恐慌性抛售利率敏感板块；其次，伴随日债收益率吸引力提升，预计4月新财年启动 后，日本国内资金或将从海外债市大规模回流，重新配置日本国债；最后，通胀回落将推动实际利率上升，进而为日元提供支撑， 相较于名义利差，实际利率对汇率的影响更为显著。 财政基本面并非罪魁祸首，收益率涨幅已"过度" 尽管市场对日本财政状况存在忧虑，但近期数据显示，日本国债收益率的剧烈波动与实际财政基本面存在明显脱节。 从财政健康度来看，日本情况好于多数发达经济体。自2023年以来，其公共债务占GDP比例已下降11个百分点，而同期发达经济体 整体则上升2个百分点。预计到2026年，日本财政赤字占GDP比重仅为2%左右，显著低于发达经济体4.9%的平均水平 ...

对投资者而言，这意味着市场的定价逻辑存在偏差。美联储（FOMC）正处于两难境地：一方面是疲软的劳动力市场，另一方面是关税带来的成 本推动型通胀。当前的资产价格建立在AI投资持续繁荣和富裕阶层消费强劲的"双支柱"之上。瑞银警告，主要风险在于AI投资热潮的任何动摇都 可能引发衰退（概率为50%）。瑞银认为市场低估了美联储在6月前不得不降息以应对就业恶化的紧迫性。 瑞银认为，美国经济的"韧性"表面之下，实际上是由单一驱动力——人工智能——苦苦支撑的脆弱平衡。 据追风交易台，瑞银在1月23日的报告中指出，尽管总体经济数据看似强劲，但增长来源极其狭窄。除AI和科技板块外，大部分实体经济处于疲 软甚至收缩状态。劳动力市场的扩张已经显著放缓，除去医疗保健行业的"繁荣"，就业实际上是在萎缩。 美联储正处于"维持独立性"与"挽救劳动力市场"的夹缝中。 利率路径预测：瑞银预计美联储将在2026年进行两次25个基点的降息，年底联邦基金利率目标区间将降至3.00%至3.25%。 被低估的3月降息：市场目前仅定价了约16%的3月降息概率（即25个基点中的4个基点）。瑞银认为，考虑到2月劳动力报告可能显现 疲软，且通胀反弹可能不及预期， ...

ab 21 January 2026 The IEA slightly increased its projections for global oil demand growth, by 12kb/d in 2025 to 0.9Mb/d (UBSe +0.9Mb/d) and by 70kb/d in 2026 to 0.9Mb/d (UBSe +1.2Mb/ d). Absolute demand revisions rose by 130kb/d for 2025 and 200kb/d for 2026, driven by an upward revision to the base (+114kb/d for 2024). China's demand growth forecast was raised by 60kb/d for 2025, but reduced by 15kb/d to 180kb/d for both years. Non-OPEC+ growth also up Global Research First Read Global Oil Fundamentals La ...

ab 21 January 2026 Powered by YES UBS Evidence Lab Global Research Global Economics & Strategy Deep Speak: An AI-driven read on tone shifts at the Fed, ECB and BoJ A new LLM-based tracker of central bank sentiment and thematic focus We developed an AI-based approach to measure policy tone for the Fed, ECB, and BoJ. Using LLMs, we analyze policy-relevant remarks in speeches, interviews and press conferences and score them on a hawkish/dovish scale, offering insights into sentiment shifts as well as thematic ...