UBS
June 29, 2026
Paul Donovan Daily Audio
Daily UpdateCommoditiesMacro Economic IndicatorsConsumer DiscretionaryEnergy
Paul Donovan discusses the indifference of oil markets to geopolitical tensions and the resilient consumer demand observed in Japan and Spain.
Key Takeaways
- 1.Oil markets remain largely unmoved by geopolitical tensions in the Gulf and Russia.
- 2.Japanese retail sales demonstrated resilience, supported by subsidies and specific regulatory-driven demand.
- 3.Spanish inflation data suggests an absence of sustained inflationary pressures in the euro area.
Table of Contents
- Audio
- Global asset class preferences definitions
- Appendix
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Authors
Paul Donovan
Themes
Consumer resilienceGeopolitical resilience
Regions
EuropeAsia PacificJapanSpainUnited Kingdom
