UBS On-Air: Paul Donovan Daily Audio 'Inflation you can’t believe in'

Whether US inflation stays confined to first-round oil pass-through, versus spreading into wages and profits, will determine if the Fed needs just one more token hike.

• China inflation soft: September CPI rose 0.9% y/y (below expectations) while PPI rose 5%, with pork prices down 10% dragging food (~30% of the CPI basket).
• Consumers unmoved: China's government caps retail gasoline pass-through from oil costs, yet consumers are raising, not cutting, savings despite low living costs — unlike developed-market consumers.

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.