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UBS On-Air: Paul Donovan Daily Audio 'Living in uncertain times'
Published 1 week ago
Description
Investors have two related problems in pricing risks around the Gulf war. US objectives remain unclear, making it impossible to measure progress (and thus the likely length of the war). Statements from top US administration officials give different and at times contradictory assessments of the war; in the absence of measurable objectives, this is all markets have to respond to. The result is volatility.