Royal Bank of Canada hired Jonathan Golub from UBS AG as chief U.S. market strategist for its investment-banking unit, filling a role left vacant since Myles Zyblock’s April departure. The firm also added two former UBS analysts to cover the consumer industry.
Favoring “the consumer economy” will provide more of a payoff for investors than anticipating that business spending will bounce back, according to Jonathan Golub, chief U.S. equity strategist at UBS AG.
U.S. stocks sank, erasing yesterday’s rally, amid a plunge in industrial metals, disappointing earnings and concern Apple Inc.’s iPhone sales may miss forecasts. The euro slid as Germany’s central bank chief reportedly said European policy makers may cut rates if needed.
Retail sales are rising fast enough to indicate the effects of tax-law changes and gasoline-price increases on consumer spending will be fleeting, according to Jonathan Golub, UBS AG’s chief U.S. equity strategist.