UBS' Baweja Says 'Time to Play Defense' in Equity Markets

UBS Chief Strategist Bhanu Baweja discusses the impact of the ongoing conflict in the Middle East and geopolitical uncertainty on markets. Speaking on Bloomberg Television, Baweja says "fixed income is where there's some value emerging" but it is "time to play defense" in equity markets. "This is not a time to be in deep cyclicals because even if you get some resolution, temporary resolution in the conflict, it's not clear where oil prices are going to settle," he adds.