UBS On-Air: Paul Donovan Daily Audio 'Spinning away from war?'

Markets are modestly encouraged by cosmetic US diplomatic moves, while Donovan argues further Fed hikes would be economically inconsequential short of causing recession.

• Greenland deal spun as change: Trump signed a Denmark-Greenland agreement that essentially reaffirms the status quo, but presented it as new progress.
• Iran diplomacy inches forward: A revived, differently-spun Obama-era nuclear deal remains on investors' radar; Trump's aggressive UN speech was matched by mutual hyperbole from both regimes.

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