UBS is urging investors not to rely solely on the ongoing rally in U.S. equities, arguing that diversification into select Asian markets, higher-quality bonds, and gold will be critical to building more resilient portfolios over the next 12 months. The Swiss bank expects the U.S. bull market to extend, supported by an accommodative Federal Reserve, solid earnings momentum, and continued artificial intelligence-driven investment. But with valuations stretched in some corners of U.S. tech and geopolitical risks simmering, UBS says broadening exposure will help guard against potential bouts of volatility. "We think U.S. stocks can rally further, but we also believe diversification is key for investors to build resilient portfolios for the long term ," UBS said in a note on Friday. " Beyond U.

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