After a pretty significant rally in the first half of May, investors may have moved on from the high volatility that shook the stock market in April. However, UBS sees a few things looming

over the stock market in the coming months. UBS believes that, despite recent progress on trade deals, more work is needed to make deals and reassure markets. Treasury Secretary Scott

Bessent said that the paused "reciprocal" tariffs could be resumed if negotiations aren't met. On top of that, President Donald Trump's tax cuts are something bond

investors may want to watch, because they could increase the U.S. budget deficit.