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Black Monday? Stay calm and convicted on risk assets, says UBS

Despite a plunge in global markets on Monday, now coined as “Black Monday”, UBS is advising investors to let the “unjustified” selloff run its course, while reconfirming the house view that it remains positive on risk assets. “With no fresh economic data to justify the slide, the latest move has the hallmarks of a self-reinforcing correction driven by quantitative risk…

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