UBS On-Air: Paul Donovan Daily Audio 'Expected, with limited conviction'

0:00Bu i'r c-rwch yn cyfyniad, yr gwaith bethoff won eithraeth o caw prosydd young ar unadu dim yr yn gwas han o ddllwch. Ar u dwyn gwneud ymfaith y pwyrddol ar unadu dim'r ganfod yn fisiadol yn gwybod yn ddidd ymfaith ddim yn ffinentio, yn y ddyn y paidw o'r yw gymdeddol y wnennyg gwybod yn yr ymfaith dd lewn. a fydd

1:20However, Trump's focus on measures to bring down oil prices certainly suggests that economic forces will push the administration towards attempting to exit the war sooner rather than later. In the world of economics, China's February trade figures were stronger than expected, both on exports and imports. This is pre-war data, of course, but again, it emphasizes just how unilateral the US trade war is. The world is trading more or less nicely with one another, and US tariffs have made that country an outlier. It's also notable that these trade figures generally come before the IEPA tariffs were ruled illegal in the States, something which had the effect of lowering the tax that US importers have to pay on goods coming from China. The strength of these figures may help China achieve its growth targets this year, but they might also create some tension with the states

2:20ahead of the proposed summit between Trump and China's President Xi. German trade data for January in contrast was somewhat weaker than had been anticipated, although the market consensus is only made up of nine forecasts, and they're all over the place. Unusually, the previous month's data was not revised higher. However, there were stronger exports to the states within that picture, again casting doubt on the effectiveness of the US trade policy in encouraging, for example, on shoring of production. There is little helpful economic data coming out of the states today, although the daily retail gasoline price is getting attention for obvious reasons. Some investors believe that the higher that goes, the quicker the end of the war with Iran. The National Federation of Independent Businesses small business poll is at risk of extreme political partisanship on top of reliability issues that come embedded in all survey polls. Existing home sales data is normally

3:25only of background interest to financial investors. That's all for today. Have a good day. This material has been prepared and published by the Global Wealth Management Business of UBS Switzerland AG, regulated by Finmer in Switzerland. It's subsidiaries or affiliates, collectively referred to as UBS. In the USA, UBS Financial Services Inc. is a subsidiary of UBS AG, and a member of FINRA SIPC. The investment views have been prepared in accordance with legal requirements designed to promote the independence of investment research. This material is for your information only, and it is not intended as an offer, or a solicitation of an offer, to buy or sell any investment or other specific product. The analysis contained herein

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