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- UBS: The bull market is still alive – it’s just noise
UBS: The bull market is still alive - it's just noise
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Loading...World markets collapsed for a second consecutive session, fueling the concern that long-term trends will end. UBS chief economist Paul Donovan, however, thinks otherwise. According to him, the current correction is just a noise.
Donovan is of the opinion that in the long run we have to observe the trade tariffs, not the Fed's policy.
"The big companies on the stock exchange account for only 25% of the total US economy, with central banks holding an average of about 60% of their US dollars, you have this huge flow of money, which suddenly stops, so it's normal to watch short-term adjustments, nothing to do with the long-term foundation on wages, jobs and inflation expectations. " - says Donovan.
In addition, minutes ago, Larry Kudlow said the Trump administration was not about to knock down the markets, but to remind the Fed that they should act milder.
"We are the hottest economy in the world! As long as Europe and Asia are slowing down, we are growing very fast!" - added Kudlow.
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