China’s official first quarter GDP data reported surprising strength. Unsurprisingly, this surprise will make the official 2024 growth target easier to achieve. March economic data was less supportive, with weakness evident in production and retail sales figures. The industrial data may reflect the ongoing pivot away from goods by global consumers. Amidst the general hedonism of yesterday’s US retail sales data, the trend away from spending on durables and in favor of spending on services was evident.

UBS On-Air: Paul Donovan Daily Audio 'Unsurprisingly surprising'

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Join members of the UBS Chief Investment Office for some timely thoughts and reflections around the April Consumer Price Index (CPI) print, and what this latest inflation data might mean for monetary policy, and the markets.  Featured are Brian Rose, Senior Economist Americas, Leslie Falconio, Head of Taxable Fixed Income Strategy Americas, and David Lefkowitz, Head of Equities Americas.  Host: Daniel Cassidy

CIO First Take: April CPI data & Market response

Yesterday’s US consumer price data was less weird—no 4% monthly increases in rent in Detroit (as in March). The detail showed for almost every business sector, there is deflation somewhere in the United States. For the benefit of non-economists (like the Chair of the Federal Reserve) this is not remotely consistent with sticky prices.

UBS On-Air: Paul Donovan Daily Audio 'A dose of normality'

Following a brief Springtime hiatus, we catch-up with Burkhard to hear about his recent travels and the connections that can be drawn from the picturesque landscapes of Europe to the European economic landscape.  Burkhard also shares takeaways from a recent conversation with IMF-Head Kristina Georgieva, where they discuss the ingredients for a successful economy (tune in to find out!).

Viewpoints with Burkhard Varnholt - A global markets podcast (Ep. 5)

Federal Reserve Chair Powell wants further inflation declines before the Fed cuts rates. US inflation is already at or near target for the prices over which the Fed has control. Last month’s consumer price inflation did surprise to the upside, mainly because of rents in the city of Detroit.

UBS On-Air: Paul Donovan Daily Audio 'Unsurprisingly surprising'

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