EPISODE · May 19, 2026 · 2 MIN
UBS On-Air: Paul Donovan Daily Audio 'Markets’ cynicism premium'
US President Trump declared that the US delayed attacking Iran because talks are going so well. Markets have been cautious in response. Equities failed to rally, because no attack is the status quo; and if investors have learned one thing about Axios reports of a deal, it is that these are historically a great reverse indicator. Oil prices did stop rising, perhaps reflecting a belief that this reiterates a US desire to find an exit.
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UBS On-Air: Paul Donovan Daily Audio 'Markets’ cynicism premium'
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