UBS: Fed Rate Hike Doesn't Change Stock Market Rally, Recommends Diversified Allocation and Preparing for Volatility

Odaily News: The Fed's rate hike has triggered a stock market sell-off, but the prospect of tightening monetary policy has not deterred market bulls. Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, stated that his team remains "positioned for further stock market gains while preparing for near-term volatility. If tightening remains moderate, credit spreads remain 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 dependent on a single return driver."