UBS predicts that the S&P 500 index could reach 6,600 points by the end of 2025, taking into account the inflationary risks associated with the re-election of Donald Trump. The analyst stresses the importance of inflation in the asset allocation strategy and suggests equities, commodities and gold as safe havens. He remains optimistic about growth in the technology, finance and energy sectors, despite the current economic and tariff challenges.

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