Ermotti Says Brace For Volatility as Markets Expect Trump Win

Investors around the world are betting on a Donald Trump victory in US elections next week, but whatever the outcome more volatility is in store, UBS Group AG Chief Executive Officer Sergio Ermotti said.

As markets are pricing in a Trump win, that would be “a classic sell-on-the-news event,” Ermotti said in an interview with Bloomberg Television’s Francine Lacqua. On the other hand, “if Kamala Harris wins, some of the trades that are ongoing for Trump will probably have to be reconsidered and therefore they are going to create rotations in the market.”