Zurich-based UBS shows first sign of fragile European financial system
Sam Adelton
Sep. 30, 2007

Analysts predict Zurich-based UBS that lost more than 600 million Swiss francs ($516 million) in the third quarter, with fixed-income assets shedding more than 3 billion francs in value. This is a devastating result not only for UBS but also for Europe in general. The European economies are more affected by the US subprime mortgage problem that the US financial institutions.

UBS, Europe's biggest bank by assets, reports its first quarterly loss since 2002. That is very significant. The European economy will go into recession before US economy does. It is time to short euro and buy US Dollar and US Government bonds.

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Zurich-based UBS shows first sign of fragile European financial system
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UBS, Europe's biggest bank by assets, reports its first quarterly loss since 2002. That is very significant. The European economy will go into recession before US economy does. It is time to short euro and buy US Dollar and US Government bonds.
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