Swiss Compromise Prevails

UBS remains headquartered in Switzerland and uses shareholder pressure from Artisan Partners as leverage in talks with Bern. Swiss authorities preserve the tougher post-Credit Suisse framework but soften timing, deduction rules, or transitional treatment enough to reduce the incentive to leave.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.