UBS On-Air: Paul Donovan Daily Audio 'Olympus has fallen?'
UBS On-Air: Market Moves · Podcast owner
May 19, 20252m 51s
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Show Notes
A credit rating agency (it does not matter which) downgraded the US from something to something else. US President Trump’s current policies are unlikely to place the US on a sustainable debt path. Influential donor Musk’s DOGE efforts are unlikely to reduce the deficit. Market reactions should be muted—there is little new information. Administration officials attempted to frame the decision in a political context, but some comments also suggested a limited understanding of the ratings process.