UBS On-Air: Market Moves Talking Markets Podcast with Brian Levitt of Invesco
Mar 3, 2026
Brian Levitt, Chief Global Market Strategist at Invesco, offers concise macro and market perspective. He discusses market reactions to Middle East events and why calm can follow shocks. He covers U.S. growth drivers and Fed policy expectations. He explores AI’s market impact and outlines asset allocation preferences including equities, credit, and precious metals as hedges.
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Episode notes
Historical Market Resilience To Regional Conflicts
- Markets have tended to perform well 12 months after regional conflicts, so immediate sell-offs aren't necessarily predictive of long-term losses.
- Brian Levitt cites 1991 and 2003 Gulf conflicts and notes Iran's limited global oil exports, arguing the event likely won't change the Fed or global growth trajectory.
Consumer Strength And AI Investment Support US Growth
- The U.S. economy is reasonably healthy driven by consumer strength, rising household net worth, and contained household leverage.
- Business investment is rising due to AI-driven spending and fiscal measures like accelerated depreciation support growth.
Position For Gradual Fed Easing And Watch Breakevens
- Expect roughly two Fed cuts in 2026 taking the funds rate toward a neutral ~3% which should ease policy from slightly restrictive levels.
- Watch inflation break-evens as a signal the Fed might lose independence; they remain contained around 2.5% in 3–5 year breakevens.