[UBS: The Federal Reserve is expected to raise interest rates twice, but it will be difficult to end the rise in U.S. stocks] On November 10, a UBS research report pointed out that U.S. inflationary pressure will still prompt the Federal Reserve to continue to tighten monetary policy, and it is expected to raise interest rates by 25 basis points each in December 2026 and March 2027. However, economic growth and corporate profits remain strong, a moderate interest rate hike is unlikely to end the rise in U.S. stocks, and higher bond yields also bring allocation opportunities to investors. UBS believes that the U.S. economy has the ability to withstand high interest rates for a longer period of time. The bank expects S&P 500 earnings to grow 25% in 2026 and 14% in 2027, which is expected to help the stock market withstand the pressure of moderate interest rate increases.