cover of episode UBS On-Air: Paul Donovan Daily Audio 'Presentation, not policy'

UBS On-Air: Paul Donovan Daily Audio 'Presentation, not policy'

2024/6/27
logo of podcast UBS On-Air: Market Moves

UBS On-Air: Market Moves

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Shownotes Transcript

US first quarter GDP is revised, and will keep being revised; we will not have a clear picture of current GDP performance for five years or more. Markets will pay some attention to prices from the personal consumer expenditure deflator, but May data is due tomorrow. Politicians use GDP as a weapon or a rallying cry, but GDP is so far from real world living standards that voters do not care whether growth is reported as 1.4% or 1.3%.