UBS On-Air: Paul Donovan Daily Audio 'Panem or Panglossian?'

US equity markets were a little disturbed by a sharp decline in a consumer confidence survey—but these surveys are distorted by partisan politics. Depending on the cable news network one watches, the US is either an unpleasant version of Panem from “The Hunger Games” or a Panglossian paradise where all is for the best in this best of all possible worlds. Clear economic signals are hardly likely to come from economic surveys in such a situation.