UBS On-Air: Market Moves UBS On-Air: Paul Donovan Daily Audio 'Trading patterns offer few surprises'
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Oct 21, 2025 South Korea's exports are thriving, thanks to a surge in semiconductor shipments despite setbacks in auto exports from US tariffs. Meanwhile, the UK braces for new borrowing data as fiscal pressures mount. In British Columbia, a bold move restricts crypto mining's power usage, highlighting environmental concerns. On the global stage, Argentina grapples with a $20 billion swap with the US as its peso reaches new lows, reflecting waning market confidence. It's a whirlwind of trade and policy shifts shaping the landscape!
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Korea Exports Led By Semiconductors
- South Korean exports in early October were strong after adjusting for working-day differences.
- Semiconductors led the surge while autos lagged due to US tariffs but other markets showed normal demand.
Monitor UK Borrowing Ahead Of Budget
- Watch the UK public sector borrowing data because a budget is imminent and fiscal pledges constrain flexibility.
- Expect revisions upward during the year as the government appears to borrow more than initially reported.
BC Limits Power For Crypto And AI
- British Columbia seeks to restrict crypto mining and limit AI/data centre electricity access to prioritize job-creating sectors.
- Paul Donovan notes the crypto waste is known but AI trade-offs are complex between current costs and future benefits.