UBS' Chief Economist, Paul Donovan provide a great write up questioning if anyone knows what is happening.
For a few months, investors need to be very careful about using economic data in investment models. If the data is wrong, models will be wrong. Remember the computing adage—garbage in, garbage out.
This amazing coming from the head of UBS. The smartest people in the world have no way of knowing what is going on nor can figure it out because the data is questionable.....really. Don't mind the entire world shut down. Don't mind that the US is dropping up to 9M people in the last two weeks. Don't mind SME are all collapsing. $81B in rent is due on April 1st. Yeah you need data to read what is happening. At least this banker calls it straight.
