UBS: Fed rate hikes haven't derailed the stock rally, recommends diversification and preparing for volatility

Odaily reports: The Fed's rate hike has triggered a stock sell-off, but the prospect of tighter monetary policy has not deterred market bulls. Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, said his team remains "positioned for further stock market gains while preparing for near-term volatility. If tightening remains moderate, credit spreads stay stable, and profits continue to grow, this rally should be expected to broaden to more sectors and regions. We recommend diversifying equity exposure while avoiding excessive concentration in areas that are particularly sensitive to interest rates or reliant on a single return driver."