UBS On-Air: Paul Donovan Daily Audio 'Open for business?'

Equity markets strengthened yesterday. Higher energy prices on expectations of OPEC oil supply cuts helped energy stocks. Fiscal policy U-turns by the UK government may have strengthened investor perceptions of the power of markets to discipline governments, although the bulk of the UK’s deficit-financed higher income tax reductions remain in place. Fundamentals remain volatile, especially where politics is involved.