UBS On-Air: Paul Donovan Daily Audio 'Revisions, resilience, and affordability'

Despite unreliable jobs data and a real-wage affordability crisis, US consumers can keep spending via savings until that buffer runs out.

• Jobs data unreliable: Paul Donovan says the US employment report's key lesson was that data is "frequently revised and not to be trusted in real time," yet markets still cut odds of rate hikes.
• Affordability crisis persists: Real wage growth is near zero and likely negative once inflation perceptions (which run above actual inflation) are factored in.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.