UBS On-Air: Market Move‪s‬ Client Strategy Office

On this edition, we discuss an array of key legislative items, including police reform, voting rights and the status of fiscal relief. We also recap the Senate hearings about the Capitol riots and pandemic rollbacks that have been implemented at the state level. Featured is Shane Lieberman, Federal Affairs Manager, UBS US Office of Public Policy. Host: Daniel Cassidy

Fed Chair Powell?s remarks yesterday said little new. The US economy is far from full employment, and bond markets are not disorderly. The second quarter inflation spike is something sensible economists will ignore - it seems Powell will ignore it as well. US Treasury yields rose by an economically insignificant amount. 1994 this is not.

Our conversation today will focus back in on the US Financials as we will examine recent performance within the group, along with the implications of rising rates, some notable themes within the space and more. Featured is Brad Ball, Financials Analyst Americas, UBS Chief Investment Office. Host: Daniel Cassidy

Today is world books day in the UK. It would be very wrong of me to use a UBS platform to promote the works of any single author, even if those books cover such vitally important economic topics as sustainability, inflation, prejudice and labor markets.

Texas has created an economic experiment by lifting almost all pandemic restrictions on economic activity. Policymakers? fear of the virus appears to have disappeared?if consumers? fear levels fall (and they may not), Texas will be a test case for how consumer spending patterns shift. Economic data will still be distorted by the power failures. When New Zealand lifted domestic restrictions last September, consumption shifted in favor of services.

The flash estimate for Euro area February consumer price inflation is due. As with yesterday?s German data, there is a positive bias to Euro area consumer prices as the official data catches up with reality. Euro area inflation was underreported in 2020, because Eurostat assumed people were spending like they did in 2019. This was not true. Now Eurostat assumes people are spending like they did in 2020, which will (temporarily) bring reported inflation in line with reality.