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Markets are not at risk of a bubble, says strategy chief
Daily Express
|December 10, 2025
THE equity market is not currently in a bubble, says UBS Investment Bank chief strategist Bhanu Baweja.
Just nine firms have driven market gains
Speaking at Abu Dhabi Finance Week, he addressed investor concerns that just nine companies in the Russell 3000 index have driven 72% of recent market gains.
He noted the focus is reminiscent of previous bubbles, but said today’s fundamentals are far stronger, as firms driving the gains boast “considerably better” margins and net debt than past market leaders.
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